IC38 English Chapter Paper – 15

Que. 1 : How are perils and hazards normally distinguished under term insurance policies?
   1.  Perils are risks that policyholders will die before a specified date and hazards are factors which could influence that risk.
   2.  Perils are medical factors which influence the risk of dying and hazards are lifestyle activities which influence the risk of dying.
   3.  Perils are factors which affect the risk being insured and hazards are the size of the risk being insured.
   4.  Perils are factors which could influence an insured event occurring and hazards are the actual events which will trigger a payout
Que. 2 : Mr. Kunal used to participate in Car race. While taking up the Insurance policy he disclosed this information. What kind of hazard does it refers to?
   1.  Fraudulent representation
   2.  Moral hazard
   3.  Physical hazard
   4.  None of the above
Que. 3 : Raghu”s policy was rejected by underwritter as he is working as a body guard of a businessman with suspected criminal links. Under which hazard his policy was rejected ?
   1.  Occupational hazard due to source of financial hazard
   2.  Occupational hazard due to source of accident
   3.  Occupational hazard due to source of health hazard
   4.  Occupational hazard due to source of moral hazard
Que. 4 : Which of the following denotes the underwriter’s role in an insurance company?
   1.  Process claims
   2.  Decide acceptability of risks
   3.  Product design architect
   4.  Customer relations manager
Que. 5 : Which of the following is not an underwriting decision?
   1.  Claim rejection
   2.  Risk acceptance at standard rates
   3.  Declinature of risk
   4.  Postponement of risk

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