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English Mock Test Chapter 11

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Question 1
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
Passport
D
Village Panchayat certificate
Question 2
Which of the below can be attributed to moral hazard?
A
Increased risky behaviour prior to the purchase of insurance
B
Decreased risky behaviour following the purchase of insurance
C
Increased risky behaviour following the purchase of insurance
D
Engaging in criminal acts post being insured
Question 3
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
School or college certificate
D
Village Panchayat certificate
Question 4
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
Birth certificate extracted from municipal records
D
Village Panchayat certificate
Question 5
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
PAN card
D
Village Panchayat certificate
Question 6
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
Service register
D
Village Panchayat certificate
Question 7
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
Certificate of baptism
D
Village Panchayat certificate
Question 8
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
Marriage certificate issued by a Roman Catholic church
D
Village Panchayat certificate
Question 9
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
Identity card in case of defence personnel
D
Village Panchayat certificate
Question 10
Which of the below is an example of standard age proof?
A
Ration card
B
Horoscope
C
Certified extract from a family bible if it contains the date of birth
D
Village Panchayat certificate
Question 11
Which of the below is an example of non -standard age proof?
A
Ration card
B
PAN card
C
Certified extract from a family bible if it contains the date of birth
D
Certificate of baptism
Question 12
Which of the below is an example of non -standard age proof?
A
Horoscope
B
PAN card
C
Certified extract from a family bible if it contains the date of birth
D
Certificate of baptism
Question 13
Which of the below is an example of non -standard age proof?
A
An affidavit by way of self-declaration
B
PAN card
C
Certified extract from a family bible if it contains the date of birth
D
Certificate of baptism
Question 14
Which of the below is an example of non -standard age proof?
A
Certificate from village panchayat
B
PAN card
C
Certified extract from a family bible if it contains the date of birth
D
Certificate of baptism
Question 15
Which of the below is an example of Proof of address?
A
PAN card
B
Horoscope
C
Passport
D
Birth certificate extracted from municipal records
Question 16
Which of the below is an example of Proof of address?
A
PAN card
B
Horoscope
C
bank passbook
D
Birth certificate extracted from municipal records
Question 17
Which of the below is an example of Proof of address?
A
PAN card
B
Horoscope
C
electricity bill
D
Birth certificate extracted from municipal records
Question 18
Which of the below is an example of Proof of address?
A
PAN card
B
Horoscope
C
telephone bill
D
Birth certificate extracted from municipal records
Question 19
Which of the below is an example of Proof of address?
A
PAN card
B
Horoscope
C
driving license
D
Birth certificate extracted from municipal records
Question 20
Which of the below is an example of Proof of identity?
A
Birth certificate extracted from municipal records
B
Horoscope
C
driving license
D
An affidavit by way of self-declaration
Question 21
Which of the below is an example of Proof of identity?
A
Birth certificate extracted from municipal records
B
Horoscope
C
passport
D
An affidavit by way of self-declaration
Question 22
Which of the below is an example of Proof of identity?
A
Birth certificate extracted from municipal records
B
Horoscope
C
voter ID card
D
An affidavit by way of self-declaration
Question 23
Which of the below is an example of Proof of identity?
A
Birth certificate extracted from municipal records
B
Horoscope
C
PAN card
D
An affidavit by way of self-declaration
Question 24
Which of the below features will be checked in a medical examiner’s report?
A
Emotional behaviour of the proposer
B
Social status
C
Height, weight and blood pressure
D
Truthfulness
Question 25
A __________ is a formal legal document used by insurance companies that provides details about the product.
A
Prospectus
B
Information docket
C
Proposal quote
D
Proposal form
Question 26
The application document used for making the proposal is commonly known as the __________.
A
Proposal form
B
Registration form
C
Application form
D
Subscription form
Question 27
Money laundering is the process of bringing _______ money into an economy by hiding its _______ origin so that it appears to be legally acquired.
A
Legal, legal
B
Illegal, illegal
C
Illegal, legal
D
Legal, illegal
Question 28
In case the policyholder is not satisfied with the policy, he / she can return the policy within the free-look period i.e. within ________of receiving the policy document.
A
60 days
B
45 days
C
30 days
D
15 days
Question 29
Which of the below statement is correct with regards to a policy returned by a policyholder during the free look period?
A
The insurance company will refund 50% of the premium
B
The insurance company will refund 100% of the premium
C
The insurance company will refund the premium after adjusting for proportionate risk premium for the period on cover, medical examination expenses and stamp duty charges
D
The insurance company will forfeit the entire premium
Question 30
During the _________ period, if the policyholder has bought a policy and does not want it, he / she can return it and get a refund.
A
Free look
B
Free evaluation
C
Cancellation
D
Free trial
Question 31
A prospectus is a formal_________________ document used by insurance companies that provides details about the product.
A
legal
B
Verbal
C
Illegal
D
None of the above
Question 32
The prospectus used by a life insurance company should state the following, under each of its plans of insurance:
A
The terms and conditions
B
Scope of benefits – guaranteed and non-guaranteed
C
The entitlements
D
all of the above
Question 33
The prospectus used by a life insurance company should state the following, under each of its plans of insurance:
A
The terms and conditions
B
Scope of benefits – guaranteed and non-guaranteed
C
The exceptions
D
all of the above
Question 34
The prospectus used by a life insurance company should state the following, under each of its plans of insurance:
A
The terms and conditions
B
Whether the plan is participative or non-participative
C
The exceptions
D
all of the above
Question 35
The _____________________________ has been defined under IRDA (Protection of Policyholders’ Interests) Regulations, 2002 as: “It means a form to be filled in by the proposer for insurance for furnishing all material information required by the insurer in respect of a risk, in order to enable the insurer to decide whether to accept or decline, to undertake the risk, and in the event of acceptance of the risk, to determine the rates, terms and conditions of a cover to be granted.”
A
proposal form
B
Prospectus
C
Agents report
D
all of the above
Question 36
__________________________ : 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.
A
proposal form
B
Prospectus
C
Agents report
D
all of the above
Question 37
_____________________________ is the likelihood that a client's behaviour might change as a result of purchasing a life insurance policy and such a change would increase the chance of a loss.
A
Moral hazard
B
Prospectus
C
Agents report
D
all of the above
Question 38
Each insurer is required to have an AML policy and accordingly file a copy with IRDA. The AML program should include:
A
Internal policies, procedures and controls
B
Appointment of a principal compliance officer
C
Recruitment and training of agents on AML measures
D
all of the above
Question 39
Each insurer is required to have an AML policy and accordingly file a copy with IRDA. The AML program should include:
A
Internal policies, procedures and controls
B
Appointment of a principal compliance officer
C
Internal audit/control
D
all of the above
Question 40
Insurers, hence, need to determine the true identity of their customers. Agents should ensure that proposers submit the proposal form along with the following as part of the KYC procedure:
A
Photographs
B
Age proof
C
Proof of address
D
all of the above
Question 41
Insurers, hence, need to determine the true identity of their customers. Agents should ensure that proposers submit the proposal form along with the following as part of the KYC procedure:
A
Photographs
B
Proof of identity
C
Proof of address
D
all of the above
Question 42
Insurers, hence, need to determine the true identity of their customers. Agents should ensure that proposers submit the proposal form along with the following as part of the KYC procedure:
A
Photographs
B
Income proof documents in case of high-value transactions
C
Proof of address
D
all of the above
Question 43
During cooling period, if the policyholder has bought a policy and does not want it, he/she can return it and get a refund subject to the following conditions:
A
"He/she can exercise this option within 15 days of receiving the policy document"
B
He/she has to communicate to the company in verbal
C
100 percent of premium will be returned
D
all of the above
Question 44
During cooling period, if the policyholder has bought a policy and does not want it, he/she can return it and get a refund subject to the following conditions:
A
"He/she can exercise this option within 25 days of receiving the policy document"
B
He/she has to communicate to the company in writing
C
100 percent of premium will be returned
D
all of the above
Question 45
During cooling period, if the policyholder has bought a policy and does not want it, he/she can return it and get a refund subject to the following conditions:
A
"He/she can exercise this option within 25 days of receiving the policy document"
B
He/she has to communicate to the company in verbal
C
"The premium refund will be adjusted for proportionate risk premium for the period on cover, expenses incurred by the insurer on medical examination and stamp duty charges"
D
all of the above
Question 46
Agents report should be prepared by the _________________________
A
Proposer
B
Agent
C
Underwriter
D
all of the above
Question 47
Details pertaining to physical features like height, weight, blood pressure, cardiac status etc. are recorded and mentioned by the doctor in his/ her report called the _____________________________
A
Moral hazard Report
B
medical examiner’s report.
C
proposal form
D
all of the above
Question 48
Matters of health, habits and occupation, income and family details need to be mentioned by the agent in the __________________
A
Moral hazard Report
B
agent’s report.
C
proposal form
D
all of the above
Question 49
Why is heredity history of importance in medical underwriting?
A
Rich parents have healthy kids
B
Certain diseases can be passed on from parents to children
C
Poor parents have malnourished kids
D
Family environment is a critical factor
Question 50
Which of the below is not an example of standard age proof?
A
Pan card
B
Horoscope
C
Passport
D
School or college certificate
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