IC38 -English New Syllabus IC38 Mock Test-3
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 information does a completed proposal form typically provide to the insurer?
Financial statements of the insured
Details of the insured's family members
Details of the physical features of the insured
The insured's favorite hobbies and interests
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2. What is co-payment in health insurance policies?
A requirement to share a percentage of the claims amount
A reduction in the overall sum insured
A mandatory deductible for every claim
A reimbursement for additional healthcare expenses
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3. What is the age limit for a member to attain for the accident cover to terminate?
65 years
70 years
75 years
80 years
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4. What is the duty of an Agent regarding assisting and advising their customers/policyholders?
To not assist or advise on any policy servicing matters
To assist and advise only on claims settlement related procedures
To assist and advise on policy servicing matters including assignment of policy, change of address, or exercise of options under the policy or any other policy service, as required
To assist and advise only on obtaining requisite documents at the time of filing the proposal form with the insurer
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5. What is the major benefit of Unit Linked Plans over traditional plans?
They offer higher death benefits to policyholders
They have lower premiums for policyholders
They help to overcome the limitations of traditional plans
They provide guaranteed returns to policyholders
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6. What is the Proposal Form in insurance?
The document used for making a proposal
The legal contract between the insurer and policyholder
Confidential information collected during policy issuance
The material change that needs to be disclosed during the period of insurance
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7. What is the purpose of the "notice of claim" in health insurance policies?
I. To provide immediate intimation of the claim to the insurance company
II. Specify time limits for document submission.
III. to facilitate the cashless facility for desired hospitalization.
IV. To determine the time limit for submission of claim documents for reimbursement claim
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8. What is the Sales Process and what is its significance?
A process that is both an art and science.
A process that is only science
A process that is only an art.
A process that is neither an art nor science
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9. What principle does covering pre-existing diseases go against?
The principle of risk management.
The principle of fairness
The principle of providing equal access to healthcare
The principle of transparency.
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10. When are alterations generally not permitted in a life insurance policy?
During the first year of the policy, except for specific changes
When the policyholder wants to increase the sum assured.
When there is a change in the mode of payment of premium
When the policy is split into two or more policies.
