English IC33 Latest Paper 25

Que. 1 : Which of the below statement is correct with regards to endowment assurance plan?
   1.  It has both a death benefit as well as a survival component
   2.  It has a death benefit component only
   3.  It has a survival benefit component only
   4.  It is similar to a term plan
Que. 2 : Which are regulatory bodies in economic sector to regulate various economic organizations?
   1.  RBI
   2.  SEBI
   3.  IRDA
   4.  All of the above
Que. 3 : Which of the below statement is incorrect with regards to decreasing term assurance?
   1.  Death benefit amount decreases with the term of coverage
   2.  Premium remains level throughout the term
   3.  Premium amount decreases with the term of coverage
   4.  Mortgage redemption plans are an example of decreasing term assurance plans
Que. 4 : ____________________________:Life insurers normally have a chart that lists the surrender values at various times and also the method that will be used for calculating the surrender values. The formula takes into account the type and plan of insurance, age of the policy and the length of the policy premium-paying period. The actual amount of cash one gets in hand on surrender may be different from the surrender value amount prescribed in the policy. This is because paid up additions, bonuses or dividend accumulations, advance premium payments or gaps in premiums, policy loans etc. may result in additions or subtractions from the cash surrender value accrued. What the policyholder ultimately receives is a net surrender value.Surrender Value is a percentage of paid-up value. Surrender Value arrived as a percentage of premiums paid is called Guaranteed Surrender Value.
   1.  Surrender values
   2.  Policy loans
   3.  Nomination
   4.  All of the above
Que. 5 : To usher equity, the underwriter engages in a process known as risk classification i.e. individual lives are categorised and assigned to different risk classes depending on the degree of risks they pose. The risk classes are:
   1.  Standard lives
   2.  Preferred risks
   3.  Declined lives
   4.  All of the above
Que. 6 : What are the rating factors in underwriting?
   1.  Female insurance
   2.  Moral hazard
   3.  Age
   4.  All of the above
Que. 7 : _________ is the fees payable to the Authority for issue / renewal of license to Act as an insurance agent or composite insurance agent.
   1.  250
   2.  370
   3.  120
   4.  100
Que. 8 : The Authority may issue duplicate license in case it is ____________.
   1.  Lost
   2.  Destroyed
   3.  Mutilated
   4.  All of the above
Que. 9 : As per IRDAI norms, an insurance company can provide which of the below non-traditional savings life insurance products are permitted in India? Choice I: Unit Linked Insurance Plans Choice II: Variable Insurance Plans
   1.  I only
   2.  II only
   3.  Both of the above
   4.  None of the above
Que. 10 : Ram has taken a plan of 10 Lacs from ABC Ltd. On 1st June 2010. He died on 20th June 2014 without paying the due premiums of Rs. 30,000. Bonus accumulated during the period was 50,000. Death benefit payable is?
   1.  10,20,000
   2.  10,00,000
   3.  10,50,000
 4.  10,80,000
Related Material  Medical IC38 English Mock Test 7

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