English Mock IC38
Q (1): What is a policy withdrawal?
1. Discontinuation of premium payment by policyholder
2. Surrender of policy in return for acquired surrender value
3. Policy upgrade
4. Policy downgrade
Q (2): Mr. Manoj’s insurance claim was denied by insurance company. In case of a denial, what is the option available to Mr. Manoj, apart from the representation to the insurer?
1. To approach Government
2. To approach legal authorities
3. To approach insurance agent
4. Nothing could be done in case of case denial
Q (3): What is the relation between investment horizon and returns?
1. Both are not related at all
2. Greater the investment horizon the larger the returns
3. Greater the investment horizon the smaller the returns
4. Greater the investment horizon more tax on the returns
Q (4): What will happen if the policyholder does not pay the premium by the due date and dies during the grace period?
1. The insurer will consider the policy void due to non-payment of premium by the due date and hence reject the claim
2. The insurer will pay the claim and waive off the last unpaid premium
3. The insurer will pay the claim after deducting the unpaid premium
4. The insurer will pay the claim after deducting the unpaid premium along with interest which will be taken as 2% above the bank savings interest rate
Q (5): What do you mean by Moral hazard ?
1. Dishonesty or character defects in an individual
2. Honesty and values in an individual
3. Risk of religious beliefs
4. Hazard of the property to be insured
Q (6): In householder’s insurance ____ .
1. Gold and silver ornaments are covered
2. Content’s of one’s shop is covered
3. Cars owned by the family are covered
4. Parcels sent by post are covered during transit.
Q (7): Premium cannot be received in/by __ .
1. cash
2. cheque
3. promissory note
4. credit card
Q (8): If the material facts presented by the insured in the proposal are wrong than the insurance company can repudiate the policy within a period _ .
1. Upto 1 year
2. Upto 2 years
3. Upto 4 years
4. Upto 6 months
Q (9): Section __ of the Insurance Act 1938 prohibits use of rebates as an inducement to take an insurance policy .
1. 56B
2. 46
3. 52
4. 41
Q (10): Which type of healthcare has acute care requiring treatment for a short period for a serious illness, often (but not necessarily) as an in-patient, including intensive care services, ambulance facilities, diagnostic and other relevant medical services ?
1. Primary health care
2. Secondary health care
3. Intensive health care
4. Tertiary health care
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