IC38 -English New Syllabus IC38 Mock Test-8
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 does the term "consumer" mean under the Consumer Protection Act?
Any person who buys goods or hires services for commercial purposes
Any person who buys goods or hires services for personal use
Any person who obtains goods for resale
Any person who avails of the services for commercial purposes
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Wrong Answer
2. What expenses are covered under the Hospitalization Expenses for Covid-19 treatment?
Diagnostic expenses
Medication expenses
Hospitalization expenses for a minimum period of 24 hours
Outpatient consultation fees
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3. What is "Consensus Ad-Idem" in a contract?
Agreement between the parties
Mutual benefit for the parties
Communication of acceptance to the proposer
None of the above
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4. What is free consent in a contract?
When the loss is caused by coercion or fraud
When the will is not caused by coercion, undue influence, fraud, misrepresentation or mistake
When it is caused by mistake
When the sale is not caused by coercion, fraud or misrepresentation
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5. What is the benefit of a no claim discount in health insurance policies?
I. It increases the sum insured increases every claim-free year.
II. It provides a discount on the premium for every claim-free year.
III. This encourages policyholders to make more claims to avail of the discount
IV. It is applicable only to group policies and not individual policies
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6. What is the cash value in a whole life insurance policy?
The amount of premium paid throughout the policyholder's life
The amount of the death benefit that the policyholder is entitled to
The amount of money that the policyholder can withdraw in the form of a loan
The amount of money that the policyholder will receive upon surrender of the policy
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7. What is the first step in cash planning?
Analyzing income and expenditure flows
Predicting future monthly income and expenses
Designing a plan for managing cash flows
Preparing a budget
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8. What is the meaning of "Appointment Letter" as per IRDAI regulations?
A letter issued by an individual to apply for an insurance policy
A letter issued by an insurer appointing a designated official.
A letter issued by an insurer to appoint an insurance agent
A letter issued by an individual to resign from the post of an insurance agent.
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9. What is the minimum continuous hospitalization period required to receive benefits under the Corona Rakshak plan?
24 hours
48 hours
72 hours
96 hours
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10. What is the purpose of a prospectus in the insurance industry?
Collect premiums in advance
Announcing the availability of payment facilities
To introduce insurance products to prospective buyers
To regulate the issuance of insurance policies
