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Sample Paper – 1
Help:- Red answer is wrong and green answer is correct...
1  The asset may lose its value if a certain event happens. This chance of loss is called as _________

2  As per MWP act, claim money is payable to

3  ___________ is reflected in the caring attitude and individualised attention provided to customers.

4  Features of a valid contract are

5  Which statement is true?

6  Individual is having need of

7  What does a first premium receipt (FPR) signify? Choose the most appropriate option.

8  The advantage of Insurance Contract:

9  Purpose of underwriting:

10  ________ as a profession refers to the act of inducing a commercial transaction through inducing the purchase of a product or service, such act being carried out with the intent of earning remuneration.

11  _____________ is the basis of contract

12  Financial Planning Advisory Services includes

13  Which of the below losses are covered under keyman insurance?

14  The stage when one has found employment and perhaps earns enough to meet his or her needs and has some surplus to spare is

15  Following material information that the proposer should disclose while making a life insurance proposal:

16  Which of the below is not a valid consideration for a contract?

17  The thumb rules of insurance are

18  Mahesh has bought a life insurance policy with a critical illness rider. He has made absolute assignment of the policy in favour of Karan. Mahesh suffers a heart attack and there is a claim of Rs. 50,000 under the critical illness rider. To whom will the payment be made in this case?

19  Requirements for success in the life insurance agency profession:

20  An insurance agent is typically a representative of ______________.

21  _____________ refers to protection against an event that might happen

22  Which of the below is not a valid address proof?

23  A claim under a life policy shall be paid or be dispute d giving all the relevant reasons, within ______ days from the date of receipt of all relevant papers and clarifications required.

24  Premium rates printed in table forms in insurance companies are called

25  A free-look period has been introduced whereby a policyholder, after taking a policy, has the option of cancelling the it, in case of disagreement, within _______ days of receiving the policy document.

26  The insurer enters into an insurance contract with each person who seeks to participate in the scheme, is known as

27  __________ is the fees payable to the Authority for issue / renewal of licence to Act as an insurance agent or composite insurance agent.

28  An insurance broker represents _______.

29  Following are standard age proofs

30  Forms need to be submitted in case of early death claim:

31  Beneficiary in MWP Act:

32  Generally, loan is ________ percentage of surrender value

33  The insurer promises to pay the insured a specified amount at the end of the term, if the insured survives the plans entire term. It is called

34  The schedule of the policy gives

35  Applicant shall complete ______ hours training to become an insurance agent.

36  There are _______________ types of products in the financial market:

37  Investment parameters includes

38  Which Statement is true:

39  _________ is a bonus expressed as a percentage of the basic sum assured under the contract.

40  Are there any fee / charges that need to be paid for lodging the complaint with the Ombudsman?

41  With regards to valuation of assets by insurance companies, __________ is the value at which the life insurer has purchased or acquired its assets.

42  Licence to work as an insurance agent is issued by __________.

43  The State Commission can claimed up to Rs.______ lakhs.

44  One may refuse to bear certain manufacturing risks by contracting out the manufacturing to someone else. This is example of

45  As per IRDA (Protection of Policyholders Interests) Regulations, 2002, a claim under a life policy shall be paid or be disputed, within 30 days from the date of receipt of all relevant papers and clarifications required.

46  Health insurance policy holder takes treatment in a hospital which does not have cashless facility. How the policyholder will get benefitted

47  While calculating pension figures, required at the time of retirement, two factors should be considered while planning, One is  taxation and other is

48  ________ is the element of a relationship

49  Which of the below is an example of an endowment assurance plan?

50  The company is expected to declare such bonus additions each year is