IC38 -English New Syllabus IC38 Mock Test-12
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 mathematical principle that makes insurance possible?
Law of large numbers
Risk pooling
Homogeneous units
Economic feasibility
Correct Answer
Wrong Answer
2. What is the Proposal form used for in insurance?
Collect information about the insurer's identity
To determine the premium for the policy
To provide details about the policyholder's family members
To apply for insurance
Correct Answer
Wrong Answer
3. What is the purpose of the Agent's declaration in the Proposal form?
To inform the proposer about the recommended policy ( )
To acknowledge that the proposer has filled out the form ( )
Explain the reasons for the Agent's recommendation ( )
To comply with IRDAI regulations
Correct Answer
Wrong Answer
4. What is the savings component in many life insurance products?
A small part of an individual's savings
A separate policy from the risk cover
A significant part of an individual's savings
Term insurance policy
Correct Answer
Wrong Answer
5. What principle ensures that the insured is compensated to the extent of his loss on the occurrence of the contingent event?
Proximate Cause
Contribution
Subrogation
Indemnity
Correct Answer
Wrong Answer
6. When are claims paid for diseases with waiting periods?
Immediately after the diagnosis of the disease
After the waiting period specified by the insurance company
Only if the insured undergoes surgery for the disease
Claims are never paid for diseases with waiting periods
Correct Answer
Wrong Answer
7. Which category do day care procedures fall under?
Inpatient procedures
Outpatient Procedures
Emergency procedures
Surgical procedures
Correct Answer
Wrong Answer
8. Which of the following is not a characteristic of ethical behavior?
Placing the best interests of the client above one's own benefits
Making full and adequate disclosure of all facts to enable clients to make informed decisions
Holding in strictest confidence and considering as privileged all business and personal information pertaining to clients affairs
Prioritizing direct or indirect benefits for oneself over the best interests of the client
Correct Answer
Wrong Answer
9. Who are considered as dependent family members in a group health insurance policy?
Only the employees' spouses
Only the employees' children
Only the employees' parents
Spouse, children, and parents/parents in law of the employees
Correct Answer
Wrong Answer
10. Why do insurers charge lower premiums when the insured voluntarily opts for higher deductibles?
Because it lowers the amount of risk for the insurer
Because it increases the amount of risk for the insurer
Because it increases the amount of risk for the insured
Because it lowers the amount of risk for the insured
