What is the main source of information for the
Agent Confidential Report
Medical Report
Proposal Form
Answers
Answer:
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Explanation:
Q1. The concept of indemnity is based on the key principle that
policyholders should be prevented from
1. Insuring existing losses.
2. Making false insurance claims.
3. Paying excessively for insurance cover.
4. Profiting from insurance.
Q2. If 5% bonus is given every year then for a SA of 1 lakh,
what will be the payout after 15 years in a simple
revisionary bonus system?
1. 60000
2. 7500
0
3.10000
0 4.
5000
Q3. The business of Insurance is connected with ...................
1. physical values of assets
2. economic values of assets
3. metaphysical values of assets
4. market values of assets
Q4. Mr. shailsh has an endowment policy with 30 years policy
term, he has paid for eight years. The sum assured
Rs.8,00,000/- and accumulated bonus Rs.60,000/-. What is
the paid up value if bonus accumulated and if not bonus
accumulated?
1. 213333 & 273333
2. 213333 & 229333
3. 229333 & 273333
4. 229333 & 293333
Q5. Under the IRDA guidelines for Claim settlement, any
queries or additional documents can asked from the
claimant within
1. 5 days from the receipt
2. 10 days from the receipt
3. 15 days from the receipt
4. 20 days from the receipt
Q6. Ombudsman has to give his decision within how many days?
1. 15 Days
2. 30 Days
3. 2 Months
4. 3 Months
Q7. Pooling of risk in insurance means
1. The premium collected & deposited in a pool
2. All similar risks are pooled together
3. Premium is pool to make claims
4. Contribution of insurance company
Q8. If the annual premium for a plan is 32000 and a frequency
loading of 4% is added in a quarterly premium what is
the amount that needs to be paid.
1. 8000
2. 8320
3. 9456
4. 9240
Q9. What are the factors involved in calculating Surrender
Value of the Policy?
1. Number of year's premium paid.
2
2
3
4
1
1
2
1
1
2. Number of premiums payable.
3. Sum Assured
4. All of the above.
Q10. Mr. Rajesh has taken policy from ABC insurance company for Rs.
500000 Sum Assured by paying Rs. 50,000 premium per year.
Company declared 5% Simple Reversionary bonus, what is
bonus amount?
1. Rs. 2500/
2. Rs. 25000/
3. Rs. 250000/
4. Rs. 5000/-