Back  Mock Test 01

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Mock Test 01
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Q (1): 

Which among the following cannot be an element in a valid insurance contract?
 Offer and Acceptance
 Coercion
 Consideration
 Legality
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Q (2): 

How are the exclusions in group policies different from individual policies?
 Group policies have more comprehensive exclusions
 Group policies have fewer exclusions
 Group policies have identical exclusions
 Group policies have different exclusions tailored for the group's requirements
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Q (3): 

How does the speed of processing in non-medical underwriting policies compare to traditional policies?
 Processing delays are longer in non-medical underwriting policies
 Processing time is the same for both types of policies
 Non-medical underwriting policies offer faster processing
 The processing time depends on the sum assured chosen by the applicant
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Q (4): 

If the mortality rate for age 35 is 0.0035, what does it imply?
 35 out of 1000 people are expected to die between age 35 and 36
 0.0035% of the population will die at age 35
 3.5 people out of 1000 will die at age 35
 35 people out of 10,000 will die between age 35 and 36
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Q (5): 

What are lifestyle factors that can influence an individual's health?
 Environmental conditions and pollution
 Genetic predisposition to diseases
 Exercising, eating well, and managing stress
 Access to healthcare facilities and services
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Q (6): 

What does body language refer to?
 Only movements
 Only facial expressions
 Gestures and facial expressions
 Talking and walking
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Q (7): 

What happens if a claim is ready for payment but the payment cannot be made due to proper identification of the payee?
 The claim amount is forfeited by the insurer
 The claim amount is transferred to a different payee
 The claim amount is held by the insurer for the benefit of the payee and earns interest
 The claim amount is refunded to the policyholder
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Q (8): 

What is a pension plan?
 A fund into which money is drawn to support the person after his retirement from work in the form of periodic payments
 A fund into which money is paid during a person’s employment years and from which money is drawn to support the person after his retirement from work in the form of periodic payments
 A fund into which money is invested for a fixed term
 A fund into which money is invested for a variable term
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Q (9): 

What is pure premium?
 Premium sufficiently big enough to pay for losses only
 Premium applicable to marginal members of the society
 Premium after loading for administrative costs
 Premium derived from the most recent loss experience period
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Q (10): 

What is the importance of financial planning?
 Only to save for the future
 To invest all savings in high-risk assets
 To plan for future needs and invest in appropriate assets
 To spend all money on present needs
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Q (11): 

What is the potential conflict of interest for sales personnel?
 They have no incentive to generate more business.
 They prioritize the company's interests over their own.
 They may be biased due to their desire for increased business.
 There is no conflict of interest for sales personnel.
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Q (12): 

What is the purpose of hospitalization indemnity products?
 To cover expenses related to outpatient medical treatments
 To protect individuals from the expenditure of hospitalization
 To provide coverage for pre-existing medical conditions
 To offer financial assistance for routine medical check-ups
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Q (13): 

What is the role of a Third Party Administrator (TPA) in health insurance?
 I. Issuing unique identity cards to policyholders for hospital admissions.
 II. Providing cashless services at network hospitals.
 III. Processing claims.
 IV. Selling health insurance policies to individuals.
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Q (14): 

What type of expenses are typically covered under the medical expense extension of personal accident policies?
 Only hospitalization expenses
 Only medical costs related to surgeries
 All medical expenses incurred after the accident
 Only outpatient medical expenses
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Q (15): 

When may the insurer recommend "On account payment" of a claim in non-life insurance?
 When the claim is found to be in order
 When the insured faces some problems in regards to the assessment
 When the completion of assessment may take some time
 When the loss is large and the completion of assessment may take some time
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Q (16): 

Which of the following benefits are provided by the Corona Rakshak policy?
 Hospital cash benefit
 Reimbursement of medical expenses
 Complete sum insured benefit
 Travel expenses coverage
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Q (17): 

Which option correctly identifies the method used to make amendments to the policy at the time of issuance?
 I. Warranty
 II. Endorsement
 III. Alteration
 IV. Modifications are not possible
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Q (18): 

According to the declaration statement, what is the responsibility of the proposer?
 To disclose only partial information
 To declare False information
 To provide True and complete information
 To provide information on behalf of others
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Q (19): 

How can building close relationships with customers benefit an insurance agent?

 It helps in expanding the business
  It reduces the need for agents to work hard
 It decreases the number of claims made by customers
  It makes the agent more popular than the insurance company.
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Q (20): 

How have advancements in medical science affected critical illnesses?
 They have made critical illnesses more common among the population
 They have reduced the severity and impact of critical illnesses
 They have increased the survival rates for major diseases
 They have eliminated the need for specialized insurance coverage
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Q (21): 

In India, which type of insurance is mandatory if one wants to drive on a public road?
 Personal accident cover for the owner-driver
 Own damage cover for the car
 Third party insurance
 Comprehensive insurance cover
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Q (22): 

What are the prohibitions for insurance agents while soliciting or procuring insurance business?

 Offering different rates, advantages, terms and conditions other than those offered by one's insurer
  Demanding or receiving a share of proceeds from the beneficiary under an insurance contract
 Inducing the prospect to omit any material information or submit wrong information in the proposal form
  All of the above
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Q (23): 

What does Keyman insurance compensate with?
 Actual losses incurred
 A fixed monetary sum as specified on the insurance policy
 Compensation in the form of company shares
 Indemnity for the key person’s income loss
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Q (24): 

What happens if the insured dies during the term of a Money Back policy?
 The premiums paid are returned to the insured's nominees
 The sum assured is paid in full to the insured's nominees
 The sum assured and bonuses accrued are paid as death benefit
 The policy becomes null and void
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Q (25): 

What is acceptance in a contract?
 When a person signifies his/her willingness to do something
 When a person accepts a proposal
 When a person pays the deposit amount
 None of the above
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Q (26): 

What is the definition of health provided by the World Health Organization (WHO)?
 Health is the absence of disease or infirmity.
 Health is the state of physical and mental wellbeing.
 Health is the absence of social problems and diseases.
 Health is a state of complete physical, mental, and social wellbeing, not merely the absence of disease or infirmity.
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Q (27): 

What is the importance of providing great customer service as an insurance agent?

 It helps the agent earn more commission
 It creates a memorable experience for the customer
 It helps the agent acquire new customers more easily
 It does not have any impact on the success of the agent
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Q (28): 

What is the primary concern addressed by a critical illness policy?
 The need for routine medical check-ups and preventive care
 The availability of advanced medical treatments for major diseases
 The financial burden associated with surviving a critical illness
 The risk of developing chronic diseases in the future
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Q (29): 

What is the purpose of life insurance products?
 To increase the earning capabilities of an individual
 To create an estate in the name of the insurer
 To provide protection against the loss of economic value due to death or disability
 To provide certain rates of return on investments
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Q (30): 

What is typically excluded in Overseas Medical/Travel Insurances?
 Pre-existing diseases
 Accidental injuries
 Mental disorders
 Loss of baggage
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Q (31): 

What type of payment do benefit-based products provide?
 Monthly installments
 Lump sum payment
 Reimbursement of medical expenses
 Cashless treatment facility
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Q (32): 

When the insured person has an adverse medical history, what diseases are included in the detailed questionnaire in the proposal form?
 Asthma
 Diabetes
 Arthritis
 Migraine
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Q (33): 

Which of the following diseases may have a waiting period in health insurance policies?
 Heart attack
 Cataract
 Diabetes
 Asthma
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Q (34): 

Who mandated the establishment of a separate channel for senior citizens' health insurance claims and grievances?
 The Ministry of Health
 The Insurance Regulatory and Development Authority of India (IRDAI)
 The World Health Organization (WHO)
 The Association of Health Insurers
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Q (35): 

Apart from the private sector, which other sectors are involved in providing healthcare services?
 Only the government sector
 Only the NGOs and the voluntary sector
 Both the NGOs and the voluntary sector, as well as the government sector
 None, only the private sector is involved
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Q (36): 

How can one appear confident and self-assured through body language?

 Slouching and avoiding eye contact
 Purposeful and deliberate gestures, but avoiding eye contact
 Solid eye contact with a "smiling" face and standing tall with shoulders held back
 None of the above
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Q (37): 

How is a positive diagnosis of a covered vector borne disease confirmed under the policy?
 Self-declaration by the policyholder
 Medical examination by any practitioner
 Laboratory examination and confirmation by a medical practitioner
 Online diagnosis through a mobile app
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Q (38): 

In Scenario 1, why did the insurance company reject the claim?
 The damage was due to normal wear and tear, which was excluded from the policy
 The damage was due to an excluded peril in the policy
 The car was too old to be insured
 None of the above
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Q (39): 

What are rating factors?
 Elements used by insurers to determine the risk of insuring a person or entity
 Elements used by insurers to determine the amount of profit they will make
 Elements used by insurers to determine the length of the insurance policy
 Elements used by insurers to determine the types of coverage offered
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Q (40): 

What are the steps involved in underwriting?
 Assessment and evaluation of hazard and risk, formulation of policy coverage, and rate fixing
 Gathering customer information, selling insurance policies, and collecting premiums
 Identifying potential risks, hiring underwriters, and processing claims
 Creating a pool of premiums, identifying the types of risks, and setting premiums
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Q (41): 

What happens if the policyholder dies after the maturity of the policy?
 The nominee is not entitled to any proceeds or benefits.
 The appointee becomes the beneficiary of the policy.
 The nominee is entitled to the proceeds and benefits of the policy .
 The claim amount is forfeited by the insurance company.
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Q (42): 

What is active listening?
 Interrupting the speaker with counter-arguments
 Allowing the speaker to finish each point before asking questions
 Ignoring the speaker and preparing a rebuttal
 Engaging in external distractions
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Q (43): 

What is risk retention in managing risk?
 Transferring the responsibility for losses to another party
 Making changes in hazardous operations and equipment
 Deciding to bear the risk and its effects by oneself
 Reducing the frequency and sizes of losses through education and training
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Q (44): 

What is the difference between "Conditions" and "Warranties" in an insurance contract?
 Conditions are optional provisions, while warranties are mandatory provisions.
 Conditions form the basis of the agreement, while warranties are additional clauses.
 Conditions are related to fraudulent claims, while warranties are related to claim filing.
 Conditions are applicable to health insurance, while warranties are applicable to other types of insurance.
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Q (45): 

What is the Integrated Grievance Management System (IGMS)?
 A central repository of insurance grievance data
 A tool for monitoring grievance redress in the industry
 Both A and B
 None of the above
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Q (46): 

What is the primary objective of micro-insurance products?
 To provide high-value coverage to affluent individuals
 To offer insurance solutions exclusively to urban sectors
 To protect low-income individuals from rural and informal sectors
 To provide comprehensive coverage for all income groups
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Q (47): 

What is the purpose of mass policies in health insurance?
 To provide coverage for high-income individuals
 To offer specialized coverage for specific medical conditions
 To cover government employees and officials
 To provide health insurance for very poor sections of the population
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Q (48): 

What is the role of an insurer in the insurance process?

 Assess the risk, collect premiums, pool risks and premiums, and pay those who suffer the loss
 Own the assets and manage the funds
 Manage the contributions and decide who receives compensation
 None of the above
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Q (49): 

What kind of funds can policyholders choose from in unit linked policies?
 Equity Fund, Debt Fund, Balanced Fund and Money Market Fund
 Growth Fund, Income Fund, Value Fund and Index Fund
 Blue Chip Fund, Small Cap Fund, Mid Cap Fund and Large Cap Fund
 Aggressive Fund, Defensive Fund, Sectoral Fund and Thematic Fund
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Q (50): 

When was the Central Government Health Scheme (CGHS) introduced?
 1947
 1954
 1986
 2001
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