IC38 -English New Syllabus IC38 Mock Test-46
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. How is the coverage for babies usually restricted in relation to the maternity cover?
It is not covered under the maternity cover
It is limited to a specific duration after childbirth
It is restricted to a certain monetary limit within the maternity cover
It is provided as a separate coverage with its own sum insured
Correct Answer
Wrong Answer
2. In the judgment method of underwriting, what may underwriters seek in complex cases?
Extra mortality rating (EMR)
Expert opinion of a medical doctor or medical referee
Approval from the underwriting department
Historical data of similar cases
Correct Answer
Wrong Answer
3. What are some examples of frauds committed in health insurance?
Impersonation, the person insured is different from the person treated.
Fabrication of documents to make a claim where there is no hospitalization.
Inflation of expenses, either with the help of the hospital or by addition of external bills fraudulently created.
Outpatient treatment converted to in-patient/hospitalization to cover the cost of diagnosis.
e) All of the above
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4. What does the accumulation phase of retirement planning involve?
Withdrawing funds from investment accounts
Setting aside money for investment purposes
Maximizing the principal during the individual's working years
Converting the corpus or principal into annuity payments
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Wrong Answer
5. What happens to individuals who are categorized as declined lives in risk classification?
They are charged a higher premium.
They are subjected to certain restrictions.
They cannot be provided insurance coverage at an affordable cost .
They are temporarily declined due to recent medical events.
Correct Answer
Wrong Answer
6. What is an insurance contract?
A legal agreement between two parties for the exchange of goods and services
An agreement between parties for sharing risks
A promise made by an insurer to provide financial protection for a price
None of the above
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7. What is subrogation in insurance?
The transfer of all rights and remedies with respect to the subject matter of insurance, from the insurer to the insured.
The transfer of all rights and remedies with respect to the subject matter of insurance, from the insured to the third party.
The transfer of all rights and remedies with respect to the subject matter of insurance, from the third party to the insured.
The transfer of all rights and remedies with respect to the subject matter of insurance, from the insured to the insurer.
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8. What is the difference between customers and clients in the insurance industry?
Customers buy a product, while clients are people with whom an agent relates for life
Customers are always looking for the cheapest insurance, while clients are more concerned with quality
Customers are not important, while clients are very important
Customers always renew their policies, while clients do not
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Wrong Answer
9. What is the legal principle that such declaration converts to a contractual duty?
Principle of Uberrimae fidei
Principle of non-disclosure
Principle of indemnity
Principle of subrogation
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Wrong Answer
10. What is the Principle of Risk Pooling?
Spreading funds out among various assets
Combining the funds of various individuals
Avoiding risk-taking activities
Transferring risks to an insurance company
