IC38 -English New Syllabus IC38 Mock Test-21
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 role of the assignee in the assignment of a life insurance policy?
Transfer ownership of the policy to another person
Cancel the nomination associated with the policy
To receive the rights, title, and interest in the policy as property
To provide a loan against the policy's surrender value
Correct Answer
Wrong Answer
2. What percentage of the sum insured is payable under the "Diagnosis Cover" in case of a positive diagnosis of a covered vector borne disease?
1% of the sum insured
2% of the sum insured
3% of the sum insured
4% of the sum insured
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Wrong Answer
3. What was the Sum Insured provided by Pradhan Mantri Jan Arogya Yojana (PMJAY)?
Rs 100,000
Rs 500,000
Rs 1,000,000
Rs 50,000
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4. Which agency is responsible for implementing the Employees' State Insurance Scheme?
IRDAI (Insurance Regulatory and Development Authority of India)
ESIC (Employees State Insurance Corporation)
Government of India
Insurance companies
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5. Which of the following is an example of modern commercial insurance?
Benevolent societies
Traders in Babylon paying extra money to their lenders
Joint-family system in India
Friendly societies in England
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6. Which type of insurance companies entered the health insurance market later?
Public sector insurance companies
Private insurance companies
Commercial insurance companies
Life insurance companies
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7. Why are pre-existing diseases not excluded after 48 months of continuous coverage?
It goes against the principle of fairness.
Insurers are legally prohibited from excluding pre-existing diseases.
The risk of pre-existing diseases decreases over time.
Insurers are allowed to exclude pre-existing diseases under certain conditions.
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8. Can PA policies be issued without including the death benefit in group coverage?
No, the death benefit is a mandatory inclusion in all group PA policies
Yes, it is possible to issue group PA policies without the death benefit, based on individual company guidelines
Only individual PA policies can exclude the death benefit, not group policies
Excluding the death benefit is against the regulations set by insurance authorities
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9. How does a deductible affect the sum insured in a health insurance policy?
This reduces the sum insured for future claims
Increases the sum insured for specific medical conditions
It has no impact on the sum insured
It allows the policyholder to add extra coverage to the sum insured
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Wrong Answer
10. How is the reimbursement amount determined in a high deductible plan?
It is based on a fixed percentage of the deductible amount.
It is equal to the total medical expenses incurred.
It is determined by the policy's maximum coverage limit.
It is calculated as the difference between the deductible and the medical expenses.
