Que. 1 : What does the term “premium” denote in relation to an insurance policy?
1. Profit earned by the insurer
2. Price paid by an insured for purchasing the policy
3. Expenses incurred by an insurer on a policy
4. Margins of an insurer on a policy
Que. 2 : Which of the below is not a factor in determining life insurance premium?
1. Management expenses
Que. 3 : What is a policy withdrawal?
1. Surrender of policy in return for acquired surrender value
2. Policy downgrade
3. Policy upgrade
4. Discontinuation of premium payment by policyholder
Que. 4 : Which of the below is one of the ways of defining surplus?
1. Excess value of liabilities over assets
2. Excessive turnover
3. Excess value of assets over liabilities
4. Excessive liabilities
Que. 5 : Which of the below is not a component of ULIP premiums?
1. Mortality charge
2. Investment risk premium
3. Policy allocation charge
4. Social security charge
For full IC38 Material with Answer- Click Here