IC38 -English New Syllabus IC38 Mock Test-19
IC38 English Mock Test helps you prepare for the essential IRDAI IC38 exam to become an insurance agent. It covers insurance principles, regulations, claims, ethics, and sales techniques. Understand the exam pattern, boost your confidence, and achieve success with our mock tests. Practice well and pass the exam on your first attempt!
1. What is the objective of the Insurance Ombudsman Rules?
To ensure that insurers always settle claims in favor of the policyholders
To provide free insurance policies to all individuals
To resolve all types of complaints in a cost-effective and impartial manner
To only accept complaints that are filed by authorized agents of the policyholders
Correct Answer
Wrong Answer
2. What is the policy document?
A formal document that provides evidence of the contract of insurance
A provisional basis to provide cover
A note issued to confirm protection under the policy
A document to determine the actual rate applicable
Correct Answer
Wrong Answer
3. What is the purpose of co-payment in health insurance?
To discourage insured individuals from making unnecessary hospitalizations
To increase the overall coverage amount for insured losses
To provide additional financial support for expensive treatments
To eliminate the need for deductibles in health insurance policies
Correct Answer
Wrong Answer
4. What is the requirement for diseases mentioned in the detailed questionnaire?
A self-declaration by the insured person
A form completed by a consulting physician
A statement from a family member
An affidavit from a friend
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Wrong Answer
5. What is the term used to describe when a policyholder discontinues payment of premiums?
Lapses
Withdrawals
Surrenders
Acquired cash value
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Wrong Answer
6. What is the usual limit for policy loans based on the policy's surrender value?
100% of the surrender value
75% of the surrender value
90% of the surrender value
50% of the surrender value
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Wrong Answer
7. What should the prospectus of an insurance product describe?
The contingency or contingencies to be covered by insurance
Investment opportunities offered by the insurer
Competitor analysis and market share
Financial statements and annual reports of the insurer
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Wrong Answer
8. When insurers accept a group for health insurance, what factors do they take into consideration?
The possibility of the existence of a few members in the group with severe and frequent health problems
The group's financial stability and payment history
The location of the group's workplace
The age distribution of the group members
Correct Answer
Wrong Answer
9. When it comes to sales, why is it important to handle objections raised by the customer?
The agent should always prioritize the customer's concerns
Because it reflects poorly on the agent if the customer has objections
Because objections may indicate underlying concerns that need to be addressed
Handling objections that increase the price of the policy
Correct Answer
Wrong Answer
10. Which of the following activities would not be categorized under professional settlement of claims?
Seeking information relating to the cause of the loss
Approaching the claim with a prejudice
Ascertaining whether the loss was the result of an insured peril
Quantifying the amount payable under the claim
