Latest IC33 English Paper 1

Que. 1 : Collecting numerous individual contributions From various People. These people have similar assets which are exposed to similar risks. This process is known as _
   1.  Asset
   2.  Risk
   3.  Peril
   4.  Pooling
Que. 2 : ____________ Refers to protection against an event that will happen
   1.  Micro fnsurance
   2.  Insurance
   3.  Bancassurance
   4.  Assurance
Que. 3 : Which of the below is an advantage of cash value insurance contracts?
   1.  Low accumulation in earlier years
   2.  Returns subject to corroding effect of inflation
   3.  Secure investment
   4.  Lower yields
Que. 4 : Which is one of the major forms of Risk Transfer
   1.  Mutual Fund
   2.  Fixed deposit
   3.  Assurance
   4.  Insurance
Que. 5 : Which among the following is a wealth accumulation product?
   1.  Term Insurance Policy
   3.  Bank Loans
   4.  Savings Bank Account
Que. 6 : Which of the below mentioned insurance plans has the savings element?
   1.  Term insurance plan
   2.  Endowment plan
   3.  All the Above
   4.  None of the Above
Que. 7 : Out of 800 houses, each valued at Rs. 40,000, on an average 10 houses get burnt every year resulting in a combined loss of Rs. 80,000. What should be the annual contribution of each house owner to make good this loss?
   1.  Rs.400/-
   2.  Rs.500/-
   3.  Rs.80/-
   4.  Rs.100/-
Que. 8 : Which of the below cannot be categorised under risks?
   1.  Dying too early
   2.  Dying too young
   3.  Natural wear and tear
   4.  Living with disability
Que. 9 : Which of the below option best describes the process of insurance?
   1.  Sharing the losses of many by a few
   2.  Sharing the losses of few by many
   3.  One sharing the losses of few
   4.  Sharing of losses through subsidy
Que. 10 : Which of the following is true with regards to Life insurance selling
   1.  Not selling any tangible product but only an idea
   2.  Mass marketed through malls and other retail sales outlets
   3.  The sales person doesnot go to the prospect, the prospect visits the sales person
   4.  Salesman role is sharing hard medical information with a professional

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