English IC38 Mock Test Paper – 6


Q (1): The concept of _______ is defined as involving “a positive duty to voluntarily disclose, accurately and fully, all facts material to the risk being proposed, whether requested or not”.
1. Undue influence
2. Fraud
3. Mistake
4. Uberrima fides

Q (2): Which of the below is element of financial planning ?
1. Investing – allocating assets based on one’s risk taking appetite
2. Risk management
3. Financing one’s needs
4. All of the above

Q (3): Mr Kumar wants to transfer his property in the name of his Son Vijay, this is known as ___ planning
1. Estate Planning
2. Investment Planning
3. Retirement Planning
4. All of the above

Q (4): Which of the below is an example of Rider ?
1. Disability Income Benefit Rider
2. Waiver of premium Rider
3. Term Rider
4. All of the above

Q (5): In Secured risk profile Investment style is ____
1. Accumulation
2. Consolidation
3. Spending
4. Estate Planning

Q (6): An insurance contract generally becomes _____ when there is a clear case of concealment with intent to deceive, or when there is fraudulent misrepresentation.
1. Void
2. Voidable
3. All of the above
4. None of the above

Q (7): ________ is a key principle of insurance and is concerned with how the loss or damage actually occurred and whether it is indeed as a result of an insured peril. If the loss has been caused by the insured peril, the insurer is liable. If the immediate cause is an insured peril, the insurer is bound to make good the loss, otherwise not. Under this rule, the insurer looks for the predominant cause which sets into motion the chain of events producing the loss. This may not necessarily be the last event that immediately preceded the loss i.e. it is not necessarily an event which is closest to, or immediately responsible for causing the loss.
1. Proximate cause
2. Undue influence
3. Fraud
4. Mistake

Q (8): In the __________ the return depends on when the investment was made and the rate that was secured at the time of investment. It has also been called segmented or investment block method as different investment blocks gets different returns.
1. “Current Money Method”
2. “Portfolio Method”
3. Life insurance
4. Premium

Q (9): Which of the below is an example of Rider ?
1. Criticall Illness Rider
2. Accidental Death Rider
3. Daily Hospitalisation Rider
4. All of the above

Q (10): In the case of life insurance, there is no question whether the event deathwould occur or not. Death is _______ once a person is born. What is uncertain is the time of death. Lifeinsurance thus provides protection against the risk of premature death.
1. Certain
2. Uncertain
3. All of the above
4. None of the above


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