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English Mock Test Chapter 18

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Question 1
The agent must personally handover the policy document to the customer because _______________
A
He can ask for reference
B
He has chance to upsell
C
He can build rapport
D
All of the above
Question 2
Qualified prospects are _________
A
Who need insurance and can pay for the same
B
Can pass underwriting test
C
Can be approached on favourable basis
D
All of the above
Question 3
Mr. Ajay is persuading prospect to buy insurance policy to achieve his sales target, this behaviour is __________________________
A
Unethical
B
Moral
C
Professional
D
Ethical
Question 4
The key to successful closing lies in helping the prospect to say ________
A
No
B
Yes
C
Don't know
D
Maybe
Question 5
Agent can get buying signal from _______________
A
Prospect's body language
B
Earning of the prospect
C
Marital status
D
Existing saving of the prospect
Question 6
Mr Ajay is approaching his colleague for insurance selling this is an example of
A
Immediate Group
B
Natural Market
C
Central of influence
D
References
Question 7
Which of the below statement best describes a "testimonial"?
A
An endorsement from a satisfied customer
B
Test result for a product in a benchmarking test
C
List of tests that a product must pass
D
Money required to test a product
Question 8
Which of the following is not part of sales process?
A
Prospecting
B
Loss assessment
C
Sales interview
D
Closing
Question 9
Identify the incorrect statement with regards to a 'qualified' prospect.
A
A qualified prospect is one who is academically well qualified to buy insurance
B
A qualified prospect is one who can be approached on a favourable basis
C
A qualified prospect is one who can pay for insurance
D
A qualified prospect is one who can pass the company underwriting requirements
Question 10
In insurance, need-gap analysis involves _________________.
A
Identifying people to work as insurance agents
B
"Identifying the areas where the prospect needs insurance protection
C
All the above
D
None of the above
Question 11
In the beginning of year number of policies sold were 2000, at the end of year the no. of policies inforce were 1800 so persistency ratio
A
0.90%
B
0.80%
C
0.9
D
0.8
Question 12
Which of the below statement is correct?
A
Selling is an art and not a science
B
Selling is a science and not an art
C
Selling is neither an art or a science
D
Selling is both an art and a science
Question 13
The easiest people to approach for business would be
A
natural Market
B
Immediate Group
C
Central of influence
D
References
Question 14
Handling objection techniques
A
A Listen, acknowledge: probe: answer confirm
B
Good communication skills
C
Good Soft Skills
D
Good Listening Skills
Question 15
Which of the below statement is correct?
A
Life insurance is sold, not bought
B
Life insurance is bought, not sold
C
Life insurance is neither bought nor sold; it is a necessity and hence should be bought by every individual.
D
None of the above
Question 16
Service review should be done
A
Once in six month
B
Once in twelve month
C
Once in two years
D
Whenever customer purchases new policy
Question 17
In India most of the policies are sold by
A
Banc assurance
B
Internet
C
Agent
D
Broker
Question 18
Cold Calling is ________________
A
Meeting customers in winter
B
Meeting customers when they are suffering from cold
C
Meeting customer after fire was extinguished
D
Meeting people unannounced
Question 19
_____________ as a profession refers to the act of inducing a commercial transaction through inducing the purchase of a product or service, such act being carried out with the intent of earning remuneration.
A
Marketing
B
Advertising
C
Selling
D
Promotion
Question 20
Before recommending the solution to the prospect agent should
A
Review the Fact Find form
B
Review Prospective needs in details
C
Check financial capacity of the prospect
D
Take Underwriters approvals
Question 21
Mr. A shortlisted the contact numbers from telephone directory to make insurance sales call, this is _____________
A
Cold calling
B
Immediate Group
C
Natural Market
D
References
Question 22
While prospecting for selling insurance, approaching the members of a caste or community association will be classified under which category?
A
Immediate group
B
Centres of influence
C
Natural market
D
References and introductions
Question 23
Best way to approach a group for insurance
A
Conducting Seminars & Events
B
Cold Calling
C
E-mails
D
Testimonial
Question 24
Prospecting in an insurance sale is ______________
A
Gathering the names of people who may be interested in insurance
B
Preparing a list of all the persons in the city
C
Enlisting all the policyholders of the branch office
D
Preparing list of all the agents in the neighbourhood
Question 25
First step in Sales Process
A
Identify and build up list of prospects
B
Qualifying the list of prospects
C
Gather information about the prospects
D
Policy delivery
Question 26
The correct technique for handling objections is as follows
A
Listen, Answer, Probe, Acknowledge and Confirm
B
Listen, Acknowledge, Probe, Answer and Confirm
C
Confirm, Listen, Probe, Acknowledge and Answer
D
Acknowledge, Probe, Listen, Answer and confirm
Question 27
The step that is intended to seek more information about the prospects concern area is called as
A
Listen
B
Confirm
C
Acknowledge
D
Probe
Question 28
It is said that life Insurance is sold not bought because
A
Individual are often able to identify their own saving needs
B
Individual are often unable to identify their own saving needs
C
As there are many insurance company in the market
D
Nobody wants to buy Life insurance
Question 29
The process of persuading the prospect to buy now  or helping the prospect to want to say “yes” is __________________
A
Listen
B
Confirm
C
Close
D
Probe
Question 30
_______________________ : Actively pay attention to all statements and gestures. This becomes important especially to know what the underlying concern is. Sometimes the prospect may need to be gently probed with questions to clarify the issue.
A
Listen
B
Confirm
C
Acknowledge
D
Probe
Question 31
______________________ : It is very important to affirm aloud so that both the prospect and the salesperson are on the same page. Acknowledgement is also linked to another very critical act, namely empathising with the prospect. Empathy does not mean that one necessarily agrees with the position taken by the other party. But it certainly means that one respects and tries to see it from the other person’s point of view.
A
Listen
B
Confirm
C
Acknowledge
D
Probe
Question 32
____________________________ : The task here is to obviously provide a carefully worded reply that suits the situation and is convincing to the prospect. Answers must be directed at and address the concerns that are raised. They must not be evasive or seek to deflect the concerns.
A
Listen
B
Answer
C
Acknowledge
D
Probe
Question 33
__________________ : The last step is to confirm whether the prospect is satisfied with the answer and if there is anything else needing to be known. If the body language and other signals make you feel that the prospect is not fully convinced, you may need to offer alternative options that he could consider. Getting this confirmation is very important because once a prospect says he / she is satisfied, the ground is laid for moving to the close of the sale.
A
Listen
B
Confirm
C
Acknowledge
D
Probe
Question 34
Which of the below is a closing method?
A
Implied consent
B
Offering alternatives
C
All of the above
D
None of the above
Question 35
What is  Selling?
A
It is a commercial transaction.
B
It is purchase of a product or service
C
It is the intention to earn remuneration
D
All of the above
Question 36
FMCG products are :
A
are typically mass marketed through malls and other retail sales outlets.
B
They are promoted through mass media
C
the customer buys it from a retail outlet
D
All of the above
Question 37
In Showroom sales :
A
It is essentially important to convert an enquiry into a sale.
B
the buyer is generally not careful when taking a decision to buy.
C
The buyer doesn’t go to the seller.
D
All of the above
Question 38
For Medicines and Drugs:
A
The Medical Representatives sell their company’s products to the doctor.
B
are usually brought from a chemist over the counter.
C
medical experts who prescribes the Pharmacy from where the consumer buy the medicine.
D
The salesman’s role is basically hard selling medicines to a medical professional.
Question 39
B2B sales involves:-
A
The seller’s role is to effectively demonstrate how the product & company meets the buying criteria.
B
The customer is an individual.
C
The decision to buy may be taken by one individual
D
No tenders are floated and the selection criteria are flexible.
Question 40
What are the points which distinguish life insurance selling from other products and industries:
A
In the case of In life insurance, it is the sales person who has to go to the prospect and induces the need to buy.
B
in life insurance, no tangible product but only an idea is sold which would be realised in future.
C
All of the above
D
None of the above.
Question 41
Natural market consists of :-
A
members of a caste or community association
B
members of a church congregation or a Satsang group
C
All of the above
D
None of the above
Question 42
One way to get to a large number of prospects:-
A
is by approaching one’s Natural market
B
by reaching out to people through cold calls.
C
by taking help of social networking sites
D
By taking assistance of COIs.
Question 43
One can seek the help of satisfied customers as well as prospects who has not yet bought by :-
A
Seeking references, testimonials & introductions
B
By reaching out to other service providers
C
Conducting seminars & events
D
All of the above
Question 44
Initial contact can be made through a letter, by telephone, face-to face
A
for sales interview
B
for conducting a need – gap analysis
C
for the pre-interview approach
D
none of the above
Question 45
For Need Gap Analysis One needs to gather information
A
about the prospect’s insurance requirements
B
to identify & determine the assets & perils for which there is inadequate coverage.
C
to identify specific needs & to suggest solutions.
D
All of the above.
Question 46
For Need Analysis one needs to do the following:-
A
To calculate the present and the future needs of the family
B
To calculate the monetary value of these needs
C
Both of the above
D
None of the above
Question 47
Clean Up Funds are required for:-
A
Medical expenses, funeral expenses & outstanding loan
B
For adjusting living condition
C
For cleaning up homes
D
None of the above.
Question 48
Life income for spouse means:-
A
Providing monthly income to spouse
B
Creating a fund for spouse after children become independent
C
Spouse needs to be employed to generate income
D
Children to pay for spouse’s expenses for life.
Question 49
Designing Solutions come after:-
A
After Need Analysis
B
After making a list of prospects.
C
After getting appointments from prospects
D
After overcoming objections
Question 50
How does a soap manufacturing company induce the customer to buy its products
A
Through Sale
B
Through door to door selling
C
Through agents
D
Through advertising
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