English IC38 Mock Test Paper – 7

IC38 MOCK SERIES ENGLISH

Q (11): Which of the below is the most appropriate explanation for the fact that young people are charged lesser life insurance premium as compared to old people?
1. Young people are mostly dependant
2. Old people can afford to pay more
3. Mortality is inversely related to age
4. Mortality is related to age

Q (12): ________:Yet another challenge is to secure post retirement incomes which are in some measure linked to final salary levels. We must remember that people’s standard of living depends on what they earn and they cannot automatically change these standards when income falls. An occupational pension which offers a defined benefit that bears a decent proportion of final salary could be a viable solution to the problem.
1. Inflation
2. Replacement income risk
3. Longevity risk
4. Investment risk

Q (13): _____:A third contingency is that posed by investment risk — the possibility of one’s retirement savings being rendered inadequate or even wiped out because the underlying investments performed badly vis-à-vis expectations. This can be on account of default by debtors and / or a fall in the market value of investments. Fixed guaranteed pensions are a way to ward off such contingencies. The insurer assumes the investment risk.
1. Inflation
2. Replacement income risk
3. Longevity risk
4. Investment risk

Q (14): Which of the below is a component of ulip premium ?
1. Expenses
2. Mortality
3. Investment
4. All of the above

Q (15): ______ fund invests major portion of the money in equity and equity related instruments.
1. Equity Fund
2. Debt Fund
3. Money Market Fund
4. Balanced Fund

 

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IC38 MOCK SERIES ENGLISH
IC38 MOCK SERIES ENGLISH

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