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Sample Paper – 1
Help:- Red answer is wrong and green answer is correct...
1  In insurance terms, the risk of suffering a disability is BEST DESCRIBED as what type of risk?

2  What tax rate,if any,will be applicable to a life insurance policy holder for the maturity proceeds of a Rs 5000 life insurance policy

3  Vishal and Sandeep applied for a health plan in XYZ Life Insurance Company. Vishal is asked to undergo a medical checkup but Sandeep is not asked to do so.  What will be most possible reason?

4  Which body has created a call center for logging a complaint

5  The IRDA has the power to make regulations under section  of _______ the Insurance Act 1938

6  A particular fact is material to the risk or not is decided by the -----------

7  Agent should guide their prospective investor:

8  __________ define the manner in which premium can be paid by a policyholder for purchasing an insurance policy

9  Nomination gives the nominee the right to receive the policy monies in the event of the death of the life insured.  Appointee is required in which condition

10  Effective communication skills are required especially

11  What should an agent do in order to understand the mental state of client in respect to his investments in saving products

12  For Insurance industry which association to take steps to Develop Education and research in insurance?

13  Ethics can be defined as


15  For his investment need, Ravi has parked funds in equity. The returns from this form of investment can be categorized as

16  Under what circumstances do the benefits under a long-term care policy become payable?

17  Payment/Investments in Kisan Vikas Patra under post office schemes is done

18  Insurance agents are

19  A client has his investment in equity shares. Agent advises him to keep it in equity based mutual fund. This will make the risk

20  Where one can approach in case of dispute?

21  The main purpose of including commission details in the documentation to clients is to increase

22  This plan is ideal for married couples or partners in a business firm:

23  Low risk products give..

24  In 'Daily hospitalization cash benefit plan'......

25  Pankaj want to save tax over and above the deduction allowed under section 80C of the income tax act 1961, which allow deduction from taxable income

26  Breach of Utmost Good Faith give the aggrieved party -------------------

27  How the Daily hospitalization cash benefit will provide benefits to policyholder who is hospitalized?

28  A life insurance policy can only be made paid up if what particular policy feature exists

29  While calculating Human life value (HLV) two components need to be kept in mind , the one is take home salary and other is

30  Open market under Annuity policy would extend which of the following benefit?

31  Which one of the following is possible in retaining the risk?

32  How is No Claim Bonus is given in a Health Insurance Policy

33  Benefit illustration documents, as per IRDA guidelines shows returns at

34  Insurable interest can exist between a member of parliament and his party workers-----------

35  If we hold 100 units in gold ETF, It means that how much grams we have in physical

36  An award made by the Insurance Ombudsman will only be binding on the insurer if the

37  Insurer has rejected an insurance proposal with intimation along with reasons to client and with copy to agent. What should agent do

38  What is the amount of money a client can take out as a lump-sum from a pension policy?

39  _____________ for their childrens future is an important need that every parent will want to give top priority to.

40  If the annual premium for a plan is 32000 and a frequency loading of 4% is added in a quarterly premium what is the amount that needs to be paid.

41  All ULIP pension plans have to give how much percentage as Guaranteed returns

42  If there is no claim in a year than what will be the benefit to the customer as NO CLAIM BONUS

43  Aman has taken a term plan for 20 years. In the 3rd year he suffered financial crisis due to which he was unable to pay premium within grace period and died after 1 month. The nominee files a claim and is rejected because

44  A missing person is considered to be dead after

45  Apart from conducting a comprehensive fact find, the other MAIN action that an insurance agent can take at outset to minimize the risk of subsequently receiving a customer complaint is to

46  Mr.Sumesh takes a policy and pays premium of 20000 with a sum assured of 300000, what will be the tax implication on his maturity amount

47  A contract should essentially have the following:

48  Following are standard age proofs

49  Which of the statements are correct

50  What additional information is required if all required forms are submitted for Life Ins. Policy?