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English Mock Test Chapter 12

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Question 1
What does a first premium receipt (FPR) signify? Choose the most appropriate option.
A
It is evidence that the policy contract has begun
B
Free look period has ended
C
Policy cannot be cancelled now
D
Policy has acquired a certain cash value
Question 2
Which of the following documents is an evidence of the contract between insurer and insured?
A
Proposal form
B
Prospectus
C
Policy document
D
Claim form
Question 3
If complex language is used to word a certain policy document and it has given rise to an ambiguity, how will it generally be construed?
A
In favour of insurer
B
The policy will be declared as void and the insurer will be asked to return the premium with interest to the insured
C
The policy will be declared as void and the insurer will be asked to return the premium to the insured without any interest
D
In favour of insured
Question 4
Select the option that best describes a policy document.
A
It is evidence of the insurance contract
B
It is evidence of the interest expressed by the insured in buying an insurance policy from the company
C
It is evidence of the policy (procedures) followed by an insurance company when dealing with channel partners like banks, brokers and other entities
D
It is an acknowledgement slip issued by the insurance company on payment of the first premium
Question 5
Which of the below statement is correct?
A
The First Premium Receipt is the evidence that the policy contract has begun
B
The proposal form acceptance is the evidence that the policy contract has begun
C
The acceptance of premium is evidence that the policy has begun
D
The premium quote is evidence that the policy contract has begun
Question 6
For the subsequent premiums received by the insurance company after the first premium, the company will issue __________.
A
Revival premium receipt
B
Restoration premium receipt
C
Renewal premium receipt
D
Reinstatement premium receipt
Question 7
What will happen if the insured person loses the original life insurance policy document?
A
The insurance contract will come to an end
B
The insurance company will issue a duplicate policy without making any changes to the contract
C
The insurance company will issue a duplicate policy with renewed terms and conditions based on the current health declarations of the life insured
D
The insurance company will issue a duplicate policy without making any changes to the contract, but only after a Court order.
Question 8
Which of the below statement is correct?
A
The policy document has to be signed by a competent authority but need not be compulsorily stamped according to the Indian Stamp Act.
B
The policy document has to be signed by a competent authority and should be stamped according to the Indian Stamp Act.
C
The policy document need not be signed by a competent authority but should be stamped according to the Indian Stamp Act.
D
The policy document neither needs to be signed by a competent authority nor it needs to be compulsorily stamped according to the Indian Stamp Act.
Question 9
Which of the below forms the first part of a standard insurance policy document?
A
Standard provisions
B
Specific policy provisions
C
Policy schedule
Question 10
In a standard insurance policy document, the standard provisions section will have information on which of the below?
A
Date of commencement, date of maturity and due date of last premium
B
The rights and privileges and other conditions, which are applicable under the contract
C
Name of nominee
D
The signature of the authorised signatory and policy stamp
Question 11
“A clause precluding death due to pregnancy for a lady who is expecting at the time of writing the contract” will be included in which section of a standard policy document?
A
Specific policy provisions
B
Policy schedule
C
General provisions
D
Standard provisions
Question 12
Which of the below statement is correct?
A
The proposal form acceptance is the evidence that the policy contract has begun
B
The acceptance of premium is evidence that the policy has begun
C
The First Premium Receipt is the evidence that the policy contract has begun
D
The premium quote is evidence that the policy contract has begun
Question 13
The first premium receipt contains which of the following information?
A
Name and address of the life assured
B
Policy number
C
Premium amount paid
D
All of the above
Question 14
The first premium receipt contains which of the following information?
A
Name and address of the life assured
B
Policy number
C
Method and frequency of premium payment
D
All of the above
Question 15
The first premium receipt contains which of the following information?
A
Name and address of the life assured
B
Policy number
C
Next due date of premium payment
D
All of the above
Question 16
The first premium receipt contains which of the following information?
A
Name and address of the life assured
B
Date of commencement of the risk
C
Next due date of premium payment
D
All of the above
Question 17
The first premium receipt contains which of the following information?
A
Date of final maturity of the policy
B
Date of commencement of the risk
C
Next due date of premium payment
D
All of the above
Question 18
The first premium receipt contains which of the following information?
A
Date of final maturity of the policy
B
Date of commencement of the risk
C
Date of payment of the last premium
D
All of the above
Question 19
The first premium receipt contains which of the following information?
A
Sum assured
B
Date of commencement of the risk
C
Date of payment of the last premium
D
All of the above
Question 20
Which of the below is a part of standard policy document?
A
Policy Schedule
B
Standard provisions
C
Specific policy provisions
D
All of the above
Question 21
which of the below is a part of policy schedule?
A
Name of the insurance company
B
Policy owner’s name and address
C
Date of birth and age last birthday
D
All of the above
Question 22
which of the below is a part of policy schedule?
A
Name of the insurance company
B
Policy owner’s name and address
C
Plan and term of policy contract
D
All of the above
Question 23
which of the below is a part of policy schedule?
A
Name of the insurance company
B
Policy owner’s name and address
C
Sum assured
D
All of the above
Question 24
which of the below is a part of policy schedule?
A
Name of the insurance company
B
Amount of premium
C
Sum assured
D
All of the above
Question 25
which of the below is a part of policy schedule?
A
Premium paying term
B
Amount of premium
C
Sum assured
D
All of the above
Question 26
which of the below is a part of policy schedule?
A
Premium paying term
B
Amount of premium
C
Date of commencement, date of maturity and due date of last premium
D
All of the above
Question 27
which of the below is a part of policy schedule?
A
Premium paying term
B
Whether policy is with or without profits
C
Date of commencement, date of maturity and due date of last premium
D
All of the above
Question 28
which of the below is a part of policy schedule?
A
Premium paying term
B
Name of nominee
C
Date of commencement, date of maturity and due date of last premium
D
All of the above
Question 29
which of the below is a part of policy schedule?
A
Mode of premium payment – yearly; half yearly; quarterly; monthly; via deduction from salary
B
Name of nominee
C
Date of commencement, date of maturity and due date of last premium
D
All of the above
Question 30
which of the below is a part of policy schedule?
A
Mode of premium payment – yearly; half yearly; quarterly; monthly; via deduction from salary
B
Name of nominee
C
The policy number – which is the unique identity number of the policy contract
D
All of the above
Question 31
which of the below is a part of policy schedule?
A
Mode of premium payment – yearly; half yearly; quarterly; monthly; via deduction from salary
B
The insurer’s promise to pay. This forms the heart of the insurance contract
C
The policy number – which is the unique identity number of the policy contract
D
All of the above
Question 32
which of the below is a part of policy schedule?
A
Mode of premium payment – yearly; half yearly; quarterly; monthly; via deduction from salary
B
The insurer’s promise to pay. This forms the heart of the insurance contract
C
The signature of the authorised signatory and policy stamp
D
All of the above
Question 33
which of the below is a part of policy schedule?
A
Mode of premium payment – yearly; half yearly; quarterly; monthly; via deduction from salary
B
The insurer’s promise to pay. This forms the heart of the insurance contract
C
The address of the local Insurance Ombudsman.
D
All of the above
Question 34
The _____________________________ forms the first part. It is usually found on the face page of the policy. The schedules of life insurance contracts would be generally similar.
A
Specific Policy Provisions
B
Standard Provisions
C
Exclusions
D
policy schedule
Question 35
The second component of the policy document is made up of ___________________________ , which are normally present in all life insurance contracts, unless specifically excluded.
A
Specific Policy Provisions
B
Standard Provisions
C
Exclusions
D
policy schedule
Question 36
The third part of the policy document consists of ________________________ provisions that are specific to the individual policy contract. These may be printed on the face of the document or inserted separately in the form of an attachment.
A
Specific Policy Provisions
B
Standard Provisions
C
Exclusions
D
policy schedule
Question 37
Which of the below forms the second part of a standard insurance policy document?
A
Standard provisions
B
Specific policy provisions
C
Policy schedule
D
Claim procedure
Question 38
Which of the below forms the third part of a standard insurance policy document?
A
Standard provisions
B
Specific policy provisions
C
Policy schedule
D
Claim procedure
Question 39
The ________________________  is the unique identity number of the policy contract.
A
policy number
B
Standard provisions
C
Policy schedule
D
Claim procedure
Question 40
which of the below is not a part of policy schedule?
A
Premium paying term
B
Amount of premium
C
Sum assured
D
nominees address
Question 41
which of the below is not a part of policy schedule?
A
Premium paying term
B
nos. of due premium
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 42
which of the below is not a part of policy schedule?
A
Premium paying term
B
Loan amount
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 43
which of the below is not a part of policy schedule?
A
Premium paying term
B
commission of the agent
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 44
which of the below is not a part of policy schedule?
A
Premium paying term
B
other policies taken by insured
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 45
which of the below is not a part of policy schedule?
A
Premium paying term
B
Special clauses for this specific policy
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 46
which of the below is not a part of policy schedule?
A
Premium paying term
B
Address of the agent
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 47
which of the below is not a part of policy schedule?
A
Premium paying term
B
Total amount of insurance taken by the insured
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 48
which of the below is not a part of policy schedule?
A
Premium paying term
B
Total nos. of policies assigned by the insured
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 49
which of the below is not a part of policy schedule?
A
Premium paying term
B
Yearly income of the insured
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
Question 50
which of the below is not a part of policy schedule?
A
Premium paying term
B
policies surrendered by the insured
C
Sum assured
D
Date of commencement, date of maturity and due date of last premium
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