English IC38 Mock Test Paper – 10

IC38 MOCK TEST ENGLISH

Q (33): _____ :The charges for insurance protection and expenses component of a unit linked product are clearly specified. Once these charges are deducted from the premium the balance of the account and income from it is invested in units. The value of these units is fixed with reference to a pre-determined index of performance.
1. Transparent structure
2. Pricing
3. Unitising
4. The bearing of investment risk

Q (34): Under _______ or pooling, the funds of various individuals are combined (placing all eggs in one basket).
1. Diversification
2. Mutuality
3. All of the above
4. None of the above

Q (35): The dividends that are declared may be used in one of the following way :
1. It may be paid in the form of dividends in cash
2. In the form of adjustment to, and reduction in future premiums
3. Dividends may be allowed to accumulate, with interest, to the credit of the policy. It may be either withdrawn at the option of
4. All of the above

Q (36): ______:The worth of the life insurer’s assets in the market place.
1. Discounted Present Value
2. Book value
3. Market value
4. All of the above

Q (37): ______: This is the value at which the life insurer has purchased or acquired its assets
1. Discounted Present Value
2. Book value
3. Market value
4. All of the above

Q (38): Life insured under Mortgage Redemption Insurance will be ______
1. Borrower of Loan
2. Loan provider
3. Guarantor
4. None of the above

Q (39): ________ : The agent is the primary underwriter. All material facts and particulars about the policyholder, relevant to risk assessment, need to be revealed by the agent in his / her report. Matters of health, habits, occupation, income and family details need to be mentioned in the report.
1. Proposal form
2. Prospectus
3. Agents report
4. All of the above

Q (40): Which of the below is a decision that underwriters may take with regard to a life proposed for underwriting ?
1. Acceptance with a restrictive clause
2. Decline or postpone
3. All of the above
4. None of the above

 

IC38 MOCK TEST ENGLISH- CLICK HERE TO START THE IC38 MOCK TEST SERIES.

 

IC38 MOCK TEST ENGLISH
IC38 MOCK TEST ENGLISH

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