Ic 33 paper 5

IC 33 Paper 5
Prepared by Manish Suryawanshi
Mob. No. 07276112117
1Prepared by Manish Suryawanshi

Question 1
During which stage of life will an individual
appreciate past savings the most?
A Post retirement
B Earner
C Learner
D Just married

Question 2
Rating factors in underwriting does not
depend on
A Financial situation
B Family History
C No. of members in the family
D Personal history of health and habits

Question 3
Which of the below risk cannot be
addressed through pensions?
A Life longevity
B Inflation
C Investment risk
D Early death

Question 4
Who provides public pensions?
A State
B Employers
C Insurers
D NGO's

Question 5
Which of the following condition will
affect a person's insurability negatively?
A Daily jogs
B Banned substance abuse
C Lazy nature
D Procrastination

Question 6
Which forum has the jurisdiction to entertain
complaints exceeding Rs 100 lakhs.
A District forum
B State forum
C National forum
D Municipal forum

Question 7
Which among the following methods is a
traditional method that can help determine
the insurance needed by an individual?
A Human Economic Value
B Life Term Proposition
C Human Life Value
D Future Life Value

Question 8
__________includes preparing of budget,
analysing of expenses and income flow and
predicting the future monthly income &
expenses.
A Estate Planning
B Investment Planning
C Retirement Planning
D Cash Planning

Question 9
Mr "X" is holding a policy in a life Insurnce
Company, He had grievance which he wanted to
take to Ombudsman, from where can he found
the address of the nearby Ombudsman office?
A Proposal Farm
B First premium receipt
C Policy schedule
D Claim form

Question 10
____________are unforeseen life events
that may call for a large commitment of
funds.
A ULIP
B Wealth Accumulation
C Diversification
D Contingencies

Question 11
Employer may take out a key person"s insurance
policy on the_________ and__________ of any
employee.
A Life of all employee
B Employer cannot insure a keyman
C Only health of the employees
D Life or Health of Any employees

Question 12
Phases of retirement planning
are____________
A Distribution, Accumulation
B Conversation, Accumulation
C Conversation, Distribution
D Accumulation, Conservation, Distribution

Question 13
Identify the incorrect statement with regards to a
'qualified' prospect.
A A qualified prospect is one who can pay for insurance
B A qualified prospect is one who can be approached on a
favourable basis
C A qualified prospect is one who is academically well
qualified to buy insurance
D A qualified prospect is one who can pass the company
underwriting requirements

Question 14
What is the objective behind Mortgage
Redemption Insurance?
A Facilitate cheaper mortgage rates
B Provide financial protection for home loan
borrowers
C Protect value of the mortgaged property
D Evade eviction in case of default

Question 15
Gross Premium includes
A Net premium
B Loading for expenses & contingencies
C Bonus loadings
D All of the above

Question 16
Find out the proximate cause for death in the
following scenario? Ajay Mils off a horse and
breaks his back. He lies there in a pool of water
and contracts pneumonia. He is admitted to the
hospital and dies because of pneumonia.
A Pneumonia
B Broken back
C Falling off a horse
D Surgery

Question 17
Ajay singh is saving in an insurance policy since the past
4 years. Ever since he has purchased the policy for every
query he has to visit the branch, hence whenever he
visits the branch he is irritated... What according to you
is missing in the client Advisor relationship
A Mr Singh"s Advisor is never present when he needs
him for a policy query
B The Advisor has given incomplete information to the
customer
C Active listening from the Advisor is missing
D None of the above

Question 18
_________ is the feature in which an health
insurance policy holder can transfer his policy
with gained credit and time bound exclusion
from one insurer to another.
A Network Provider
B Portability
C TPA
D Mediclaim

Question 19
net premium is
A Level premium plus loadings
B The discounted present value of all future
claim liabilities
C premium required to meet mortality risk of
the pool
D None of the above

Question 20
Mr Kumar wants to transfer his property in
the name of his Son Vijay, this is known as
_________ planning
A Investment Planning
B Retirement Planning
C Estate Planning
D All of the above

Question 21
Are there any fee I charges that need to be paid
for lodging the complaint with the Ombudsman?
A A fee of Rs 100 needs to be paid
B No fee or charges need to be paid
C 20% of the relief sought must be paid as fee
D 10% of the relief sought must be paid as fee

Question 22
Which of the below can be categorised
under wealth accumulation products?
A Bank deposits
B Life insurance
C General insurance
D Shares

Question 23
In health insurance policy premium will be
based on.
A Occupation
B Income
C Age
D Height

Question 24
Who among the following is most likely to buy
variable life insurance?
A People seeking fixed return
B People who are risk averse and do not dabble
in equity
C Knowledgeable people comfortable with equity
D Young people in general

Question 25
Which of the following are the elements of
Financial Planning _________
A Investment & Risk Management
B Tax & Estate Planning
C Financial One"s need & Retirement
Planning
D All of the above

Question 26
Under risk classification,______________
consist of those whose anticipated mortality
corresponds to the standard lives represented
by the mortality table.
A Standard lives
B Preferred risks
C Sub-standard lives
D Declined lives

Question 27
Which of the following statement is correct in relation to
claim?
A A claim is the demand of performance by the insurer
B A claim arises only when insured event takes place
C A claim is valid if insured has paid all the premiums
D All of the above

Question 28
Primary care can be described as ____________
A Care provided to patient in an acute setting
B Care provided in hospitals
C First point of contact for people seeking
healthcare
D Care provided by Doctors

Question 29
Which among the following is a non-
traditional life insurance product?
A Term assurance
B Universal life insurance
C Endowment insurance
D Whole life insurance

Question 30
Under which circumstances company requires a medical
examination or other evidence of insurability
A Policy is in lapsed condition for less than 1 year
B Sum assured or face value of the policy is low.
C Customer is buying a new policy
D Customer wants to revive a policy with high sum
assured after 1 year of lapsation

Question 31
___________ Refers to protection against
an event that will happen
A Insurance
B Assurance
C Micro Insurance
D Bancassurance

Question 32
Mr XYZ is director of a company, Company has taken
keyman insurance for him, If something happens to Mr
XYZ then benefit will paid to ____________
A his Nominee
B His Legal Heir
C Company
D None of the above

Question 33
In a legal contract if pressure is applied on
either of the parties through criminal needs,
it is known as.
A Coercion
B Fraud
C Undue Influence
D Mistake

Question 34
__________refers to a hospital/health care provider
enlisted by an insurer to provide medical services to an
insured on payment by a cashless facility.
A Day care centre
B Network provider
C Third Party Administrator
D Domiciliary

Question 35
Best way to approach a group for
insurance.
A Testimonial
B E-mails
C Gold Galling
D Conducting Seminars & Events

Question 36
State which of the statement is correct.
A In Ulip the policy holder can surrender the
plan post 5 yrs of policy.
B In Ulip the policy holder cannot surrender the
C In Ulip the policy holder cannot surrender the
D Policyholder cannot surrender the plan

Question 37
Which of the below death claim will be treated as an
early death claim?
A If the insured dies within three years of policy duration
B If the insured dies within five years of policy duration
C If the insured dies within seven years of policy
duration
D If the insured dies within ten years of policy duration

Question 38
Section 45 of insurance Sector 1938 is applicable upto ?
A 2 Yrs
B 1 Yrs
C 7 Yrs
D till end of the term

Question 39
Which insurance is used for business protection
purpose.
A Children education plan
B Key man insurance policy
C Re-insurance
D Term insurance

Question 40
___________ is a rise in the general level of
prices of goods and services in an economy
over a period of time.
A Deflation
B Inflation
C Stagflation
D Hyperinflation

Question 41
Predominant cause which sets into motion the
chain of events producing the loss is known as
___________
A Contract Adhesion
B Proximate Cause
C Leagality
D Utmost Good Faith

Question 42
Excessive production and reproduction of cells
leads to malignant tumors is called as
A Tuberculosis
B Cancer
C Liver cirrhosis
D Diabetes

Question 43
Which of the following are the components of
level premium.
A Cash value element
B Term or protection component
C Both of the above
D Cash reserve ratio

Question 44
As per RDA regulations issued in February 2013,
what is the grace period allowed beyond the
expiry date of the policy, for renewal?
A 15 days
B 30 days
C 45 days
D 60 days

Question 45
______________ is a plan with the provision for return
of a part of the sum assured in periodic installments
during the term and balanced of sum assured at the
end of the term.
A Pure Endowment Plan
B Money back plan
C Whole Life Insurance
D Cash back plan

Question 46
Components of premium are
A Mortality & interest
B Bonus loadings
C Reserves & expenses of management
D All of the above

Question 47
As per the Sec. 42 sub section (4) of Insurance
Act 1938, agent license will be disqualified if she
or he
A Not good in communication
B Not holding his own house
C Unsound mind
D Non Educated

Question 48
When is the best time to start financial
planning?
A Post retirement
B As soon as one gets his first salary
C After marriage
D Only after one gets rich

Question 49
Under Sec 47 of insurance Act 1938 when claim is
ready for payment but cannot be paid due lack of
proper identification of the payee, Interest
payable would be?
A 2% over Bank Rate
B Bank Rate
C No Interest payable
D 4% over Bank Rate

Question 50
__________ refers to the ability to perform the
promised service dependably and accurately.
A Reliability
B Responsiveness
C Assurance
D Empathy

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