English New IC33 Paper 5


Que. 1 : Under any circumstances, can a policy taken under MWP Act be surrendered?
   1.  If one of the beneficiaries is major
   2.  If all the beneficiaries are major
   3.  If the trustee is Major
   4.  Cannot surrender under any circumstances
Que. 2 : Motor insurance should be taken on whose name
   1.  In the name of the Driver
   2.  In the name of any family member of the owner
   3.  In the name of the owner
   4.  In the name of car manufacturing company
Que. 3 : The dividends that are declared may be used in one of the following way :
   1.  It may be paid in the form of dividends in cash
   2.  In the form of adjustment to, and reduction in future premiums
   3.  dividends may be allowed to accumulate, with interest, to the credit of the policy. It may be either withdrawn at the option of policyholder or only at the end of the contract
   4.  All of the above
Que. 4 : Why Health Insurance is important?
   1.  Providing financial assistance to pay for medical facilities
   2.  Preserving for savings of an individual
   3.  Both of the above
   4.  None of the above
Que. 5 : The sum insured in a motor insurance policy reffered to _________________________
   1.  Insurer’s declared value
   2.  Insured’s declared value
   3.  Insurer’s depreciated value
   4.  Insured’s depreciated value
Que. 6 : _____________________:The worth of the life insurer’s assets in the market place.
   1.  Discounted Present Value
   2.  Book value
   3.  Market value
   4.  All of the above
Que. 7 : Which of the below doesnot covered in motor insurance ?
   1.  Scooter and motor cycles
   2.  Cycles
   3.  Private cars
   4.  Motor trade
Que. 8 : Life insured under Mortgage Redemption Insurance will be _____________________
   1.  Borrower of Loan
   2.  Loan provider
   3.  Guarantor
   4.  None of the above
Que. 9 : __________________________ : The agent is the primary underwriter. All material facts and particulars about the policyholder, relevant to risk assessment, need to be revealed by the agent in his / her report. Matters of health, habits, occupation, income and family details need to be mentioned in the report.
   1.  Proposal form
   2.  Prospectus
   3.  Agents report
   4.  All of the above
Que. 10 : Which of the below is mandatory in motor insurace ?
   1.  Third party insurance
   2.  Package insurance
   3.  All of the above
   4.  None of the above

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