McqMate
| 201. |
Illustrate the First Step of Financial Planning Process. |
| A. | Develop the Financial Goals. |
| B. | Implement a Financial Plan. |
| C. | Analyse the Current Financial Situation. |
| D. | Evaluate and Revise the Actions. |
| Answer» C. Analyse the Current Financial Situation. | |
| 202. |
Illustrate, as to How, the Internet aids in the Process of Financial Planning ... I: Provides the Information, Related to Various Facets of Financial Planning. II: Provides the Up-Dated Information, Regarding the Performance of Various Investment-Products. III: Provides the Quotations, which can aid in making the Financial Decisions. |
| A. | I, Only. |
| B. | II, Only. |
| C. | III, Only. |
| D. | I, II, and III. |
| Answer» D. I, II, and III. | |
| 203. |
Identify a Product, that can be categorised under Transactional-Products. |
| A. | Bank Deposits |
| B. | Gold |
| C. | Lockers |
| D. | Life Assurance |
| Answer» A. Bank Deposits | |
| 204. |
Identify a Product, that can be categorised under Contingency-Products. Choose the Most Appropriate Option. |
| A. | Bank Deposits |
| B. | Shares |
| C. | Bonds |
| D. | Life Assurance |
| Answer» D. Life Assurance | |
| 205. |
In India, Whole-Life Assurance Plans, --. |
| A. | Pay the Death-Benefits, on Death of the Life- Assured |
| B. | Pay the Death-Benefits, Post-Retirement |
| C. | Pay the Death-Benefits, Post-80-Years-of-Age |
| D. | Pay the Death-Benefits, on Payment of 30 Successful Annual Premiums |
| Answer» A. Pay the Death-Benefits, on Death of the Life- Assured | |
| 206. |
Describe the Primary Objective behind Buying an Insurance Product. |
| A. | Tax-Planning |
| B. | Investment-Security |
| C. | Protection against the Loss of Economic Value of an Individual’s Productive Abilities |
| D. | Wealth-Accumulation |
| Answer» C. Protection against the Loss of Economic Value of an Individual’s Productive Abilities | |
| 207. |
The Premium, Paid for Whole-Life Assurance, is --- than the Premium, Paid for Term Assurance. |
| A. | Lower |
| B. | Equal |
| C. | Higher |
| D. | Substantially Lower |
| Answer» C. Higher | |
| 208. |
Identify the Flip-Side of a Term Assurance. |
| A. | It is the Cheapest Form of Assurance. |
| B. | It can be converted in to a Whole-Life Assurance. |
| C. | It does not provide Any Returns, on Maturity. |
| D. | It comes Handy, as an Income-Replacement Plan. |
| Answer» C. It does not provide Any Returns, on Maturity. | |
| 209. |
Identify the Life Assurance Plan, where, the Premium is Payable throughout the Life of the Life-Assured. |
| A. | Whole-Life Assurance |
| B. | Endowment Assurance |
| C. | Annuity |
| D. | Money-Back Assurance |
| Answer» A. Whole-Life Assurance | |
| 210. |
Pick an Attribute, that can be associated with Life Assurance Policies. |
| A. | In-Separability |
| B. | Heterogeneity |
| C. | In-Tangibility |
| D. | Superlative Returns |
| Answer» C. In-Tangibility | |
| 211. |
Mortgage-Redemption-Insurance (M.R.I.) is an Example of --. |
| A. | Decreasing, Term Assurance |
| B. | Increasing, Term Assurance |
| C. | Term Assurance, With Return of Premium(s) |
| D. | Term Assurance, With Fixed Returns |
| Answer» A. Decreasing, Term Assurance | |
| 212. |
Select the Option, that is True, with Regard to Term Assurance Plans. |
| A. | Term Assurance Plans come with Life-Long Renewability Option. |
| B. | All Term Assurance Plans come with a Built- In Disability-Rider. |
| C. | Term Assurance Plans can be bought as a Stand-Alone Policy, as well as, a Rider with Another Policy. |
| D. | There is No Provision in Term Assurance Plans, to convert it into a Whole-Life Assurance Plan. |
| Answer» C. Term Assurance Plans can be bought as a Stand-Alone Policy, as well as, a Rider with Another Policy. | |
| 213. |
The Conversion-Option in a Term Assurance Plan, can be used to convert the Policy, into Which One of the Following Plans? |
| A. | Whole-Life Assurance |
| B. | Unit-Linked Insurance Plan (U.L.I.P.) |
| C. | Money-Back Assurance |
| D. | Mortgage-Redemption- Insurance (Decreasing, Term Assurance) |
| Answer» A. Whole-Life Assurance | |
| 214. |
Name the Policy, that combines Pure Life Assurance with a Savings-Element. If the Life-Assured lives upto Some Specified Time, then He or She receives the Policy's Face-Value. |
| A. | Mortgage-Redemption- Insurance Policy |
| B. | Increasing, Term Assurance Policy |
| C. | Decreasing, Term Assurance Policy |
| D. | Whole-Life Assurance Policy |
| Answer» D. Whole-Life Assurance Policy | |
| 215. |
Name the Term, used to describe "With-Profits" Policies. |
| A. | Interest-Paying Policies |
| B. | Participating Policies |
| C. | Dividend Policies |
| D. | Bonus-Sharing Policies |
| Answer» B. Participating Policies | |
| 216. |
Describe a Tangible Product. |
| A. | A Tangible Product refers to the Physical Objects, that cannot be Perceived by Touch. |
| B. | A Tangible Product refers to the Physical Objects, that can be Directly Perceived by Touch. |
| C. | A Tangible Product is One, that has In-Finite Value. |
| D. | A Tangible Product is One, that has No Value. |
| Answer» B. A Tangible Product refers to the Physical Objects, that can be Directly Perceived by Touch. | |
| 217. |
Describe an In-Tangible Product. |
| A. | An In-Tangible Product refers to the Products, that can Only be Perceived In-Directly. |
| B. | An In-Tangible Product refers to Physical Objects, that can be Directly Perceived by Touch. |
| C. | An In-Tangible Product is One, that has In- Finite Value. |
| D. | An In-Tangible Product is One, that has No Value. |
| Answer» A. An In-Tangible Product refers to the Products, that can Only be Perceived In-Directly. | |
| 218. |
You are Paying a Higher Premium towards Your Life Assurance Policy, as compared to the Others. What Impact, will it have, on the Compensation-Paid, (as compared to the Others), to the Beneficiary, in the Event of Your Death? |
| A. | Compensation remains the Same. |
| B. | Compensation will be Higher. |
| C. | Compensation will be Lower. |
| D. | There will be No Compensation. |
| Answer» B. Compensation will be Higher. | |
| 219. |
--- is an Example of an In-Tangible Product. |
| A. | Car |
| B. | Soap |
| C. | Life Assurance |
| D. | House |
| Answer» C. Life Assurance | |
| 220. |
Inter-Temporal Allocation of Resources, refers to --. |
| A. | Postponing the Allocation of Resources, Until the Time is Right |
| B. | Allocation of Resources, over Time |
| C. | Temporary Allocation of Resources |
| D. | Diversification of Resource-Allocation |
| Answer» B. Allocation of Resources, over Time | |
| 221. |
From the Following Options, Identify a Non-Traditional Life Assurance Product. |
| A. | Term Assurance |
| B. | Universal Life Assurance |
| C. | Whole Life Assurance |
| D. | Endowment Assurance |
| Answer» B. Universal Life Assurance | |
| 222. |
From the Following Options, Identify a Traditional Life Assurance Product. |
| A. | Term Assurance |
| B. | Universal Life Assurance |
| C. | Variable Life Assurance |
| D. | Unit-Linked Insurance |
| Answer» A. Term Assurance | |
| 223. |
Describe One of the Major Innovations of the Universal Life Assurance Policy. Choose the Most Appropriate Option. |
| A. | No Premiums, After First Year. |
| B. | Completely Flexible Premiums, After First Policy-Year. |
| C. | Reduced Premiums, After First Year. |
| D. | Regular Pay-Outs, After First Year. |
| Answer» B. Completely Flexible Premiums, After First Policy-Year. | |
| 224. |
Why is, Cash in the Accumulation Account, Not Guaranteed, in Case of Variable Life Assurance Products? |
| A. | Money is invested in Government Debt. |
| B. | Money is invested in the Stocks, through Mutual Funds, where, there are No Guarantees. |
| C. | Money is used for Capital Expenditure. |
| D. | Money is used to service the Insurer's Debt. |
| Answer» B. Money is invested in the Stocks, through Mutual Funds, where, there are No Guarantees. | |
| 225. |
Identify a Limitation of Traditional Life Assurance Products. |
| A. | High Yields. |
| B. | Clear and Visible Method of arriving at Surrender-Value. |
| C. | Well-Defined: Cash- Value Component and Savings-Value Component. |
| D. | Rate-of-Return is Not Easy to ascertain. |
| Answer» D. Rate-of-Return is Not Easy to ascertain. | |
| 226. |
All of the Following Statements are False, with Respect to Unit-Linked Insurance Plans (U.L.I.P.s), Except: |
| A. | Policy-Holder's Benefits or Returns depend on the Assumptions and Discretion of the Life Assurance Company. |
| B. | Investment-Risk is borne by the Insurer. |
| C. | Unit-Linked Insurance Plans (U.L.I.P.s) are Transperant with Regard to their Term- Component, Expenses- Component, and Savings- Component. |
| D. | Unit-Linked Insurance Plans (U.L.I.P.s) are Bundled Products. |
| Answer» C. Unit-Linked Insurance Plans (U.L.I.P.s) are Transperant with Regard to their Term- Component, Expenses- Component, and Savings- Component. | |
| 227. |
Suggest a Non-Traditional Life Assurance Product. |
| A. | Term Assurance |
| B. | Variable Life Assurance |
| C. | Whole Life Assurance |
| D. | Endowment Assurance |
| Answer» B. Variable Life Assurance | |
| 228. |
Non-Traditional Life Assurance Products satisfy a Certain Motive of Many Investors. Select the Most Appropriate Option. |
| A. | Guaranteed Benefits |
| B. | Fixed Returns |
| C. | Wealth-Accumulation |
| D. | Protection of Capital |
| Answer» C. Wealth-Accumulation | |
| 229. |
Which One of the Following, is Not a Limitation of Traditional Life Assurance Products? Choose the Most Appropriate Option. |
| A. | Difficult to Ascertain the Surrender-Values, At Any Given Point of Time. |
| B. | In-Sufficient Coverage. |
| C. | Cash-Value-Component, Not Well-Defined. |
| D. | Limited Rate-of-Return. |
| Answer» B. In-Sufficient Coverage. | |
| 230. |
Choose the Correct Statement. |
| A. | In Variable Life Assurance, the Monthly or Yearly Premiums can vary, as per the Perference of the Insured. |
| B. | Variable Life Assurance is a Permanent Life Assurance. |
| C. | In a Variable Life Assurance Policy, the Investment-Risk is Borne by the Insurer. |
| D. | The Policy provides Fixed Guaranteed Returns, which are Specified at the Beginning, it-self. |
| Answer» B. Variable Life Assurance is a Permanent Life Assurance. | |
| 231. |
Name the Two Areas, Related to Non-Traditional Insurance-Products, where, the Customers can exercise their Choice. |
| A. | Altering the Premium and Benefit-Structure, and Choose: How to Invest the Premium- Proceeds. |
| B. | Alter the Rate-of- Return, and Choose: When to Invest the Premium-Proceeds. |
| C. | Alter the Rate-of- Return, and Choose: How to Invest the Premium-Proceeds. |
| D. | Alter the Rate-of-Return and Premium-Structure. |
| Answer» A. Altering the Premium and Benefit-Structure, and Choose: How to Invest the Premium- Proceeds. | |
| 232. |
Where was, Universal Life Assurance, introduced First? |
| A. | United States of America (U.S.A.) |
| B. | England |
| C. | France |
| D. | Germany |
| Answer» A. United States of America (U.S.A.) | |
| 233. |
Expand the Term: U.L.I.P. |
| A. | Unit-Less Insurance Policy |
| B. | Unit-Linked Investment Policy |
| C. | Unit-Linked Insurance Policy |
| D. | Union-Linked Insurance Policy |
| Answer» C. Unit-Linked Insurance Policy | |
| 234. |
What Does, Un-Bundling of Life Assurance Products, refers to? |
| A. | Correlation of Life Assurance Products with Bonds. |
| B. | Correlation of Life Assurance Products with Equities. |
| C. | Amalgamation of Protection-Element and Savings-Element. |
| D. | Separation of the Protection-Element and Savings-Element. |
| Answer» D. Separation of the Protection-Element and Savings-Element. | |
| 235. |
A Policy is effected under Married Women's Property (M.W.P.) Act. If the Policy-Holder does not appoint a Special Trustee to receive and administer the Benefits under the Policy, the Sum, secured under the Policy, becomes Payable to --. |
| A. | Next of Kin |
| B. | Official Trustee of the State |
| C. | Insurer |
| D. | Insured |
| Answer» B. Official Trustee of the State | |
| 236. |
Which Section of Married Women's Property (M.W.P.) Act, provides for Security of Benefits under a Life Assurance Policy, to the Wife and Children? |
| A. | Section 38 |
| B. | Section 39 |
| C. | Section 6 |
| D. | Section 45 |
| Answer» C. Section 6 | |
| 237. |
Mortgage-Redemption-Insurance (M.R.I.) provides --- Protection, for Home-Loan Borrowers. |
| A. | Social |
| B. | Financial |
| C. | Physical |
| D. | Tangible |
| Answer» B. Financial | |
| 238. |
Key-Man Insurance is a Term Assurance Policy, where, the Sum-Assured is Linked to --. |
| A. | Business-Profitability of the Company |
| B. | Number of Employees |
| C. | Chief Executive Officer (C.E.O.)'s Personal Income |
| D. | Personal Incomes of All the Employees |
| Answer» A. Business-Profitability of the Company | |
| 239. |
Who is a Key-Man? |
| A. | Person, who has Key to the Office-Lock. |
| B. | Person, Critical to the Business-Operations. |
| C. | Person, Who Left the Business. |
| D. | Person, Willing to Join the Business. |
| Answer» B. Person, Critical to the Business-Operations. | |
| 240. |
Identify the Benefits of taking-out a Key-Man Insurance Policy. |
| A. | Off-Set Business Start- Up Costs. |
| B. | Off-Set the Business- Continuity-Costs. |
| C. | Off-Set the Business- Recovery-Costs. |
| D. | Promote the Worker- Harmony. |
| Answer» B. Off-Set the Business- Continuity-Costs. | |
| 241. |
Categorise Mortgage-Redemption-Insurance, Under One of the Following Options. |
| A. | Increasing, Term Assurance |
| B. | Decreasing, Term Assurance |
| C. | Variable Life Assurance |
| D. | Universal Life Assurance |
| Answer» B. Decreasing, Term Assurance | |
| 242. |
In Case of a Policy, effected under Married Women's Property (M.W.P.) Act, the Policy-Monies shall be Payable to --. |
| A. | Trustee |
| B. | Appointee |
| C. | Assignee |
| D. | Nominee |
| Answer» A. Trustee | |
| 243. |
Select the Factor, that is Linked to the Sum-Assured under a Key-Man Insurance Policy. |
| A. | Key-Man's Income |
| B. | Business-Profitability |
| C. | Business-History |
| D. | Inflation-Index |
| Answer» B. Business-Profitability | |
| 244. |
Select the Loss, covered under Key-Man Insurance. |
| A. | Property-Theft |
| B. | Losses, Related to the Extended Period, when a Key-Person is Unable to Work. |
| C. | Losses, Caused Due to Errors and Omissions. |
| D. | General Liability |
| Answer» B. Losses, Related to the Extended Period, when a Key-Person is Unable to Work. | |
| 245. |
What is the Tax-Treatment offered under Key-Man Insurance? |
| A. | Policy-Returns are Tax- Exempt. |
| B. | Premiums are Treated as Business-Expense, and are Tax-Exempt. |
| C. | Premiums are Taxable. |
| D. | Policy-Returns are Heavily Taxable |
| Answer» B. Premiums are Treated as Business-Expense, and are Tax-Exempt. | |
| 246. |
If You need to purchase a Key-Man Insurance Policy, then, What is the Information, that is going to be sought by the Insurer, to assess the Application? |
| A. | Business’ Audited Financial Statements and Filed Income-Tax (I.T.) Returns |
| B. | Salary of the Chief Executive Officer (C.E.O.) |
| C. | Name of the Chief Executive Officer (C.E.O.) |
| D. | Names of All the Employees |
| Answer» A. Business’ Audited Financial Statements and Filed Income-Tax (I.T.) Returns | |
| 247. |
Expand the Term: M.R.I. |
| A. | Most Reliable Insurance |
| B. | Mortgage-Redemption- Insurance |
| C. | Money-Redemption- Insurance |
| D. | Money Reliable Insurance |
| Answer» B. Mortgage-Redemption- Insurance | |
| 248. |
Why, Mortgage-Redemption-Insurance (M.R.I.) referred to as 'Decreasing, Term Assurance'? |
| A. | Cover remains Constant throughout the Policy- Period. |
| B. | Cover decreases along with the Policy-Term. |
| C. | Cover increases along with the Policy-Term. |
| D. | Premium increases with the Policy-Term. |
| Answer» B. Cover decreases along with the Policy-Term. | |
| 249. |
What will be Looked At, in order to determine the Sum-Assured, under Key-Man Insurance? |
| A. | Key-Man's Current Financial Statements. |
| B. | Key-Man's Past Financial Statements. |
| C. | Audited Financial Statements of the Business and Income- Tax (I.T.) Returns. |
| D. | Income-Tax (I.T.) Returns of the Key-Man. |
| Answer» C. Audited Financial Statements of the Business and Income- Tax (I.T.) Returns. | |
| 250. |
Which of the Following, are the Components, used to calculate the Gross Premium? I: Net Premium. II: Expense-Loading. III: Loading for Contingencies. IV: Bonus-Loading. |
| A. | I and II. |
| B. | II and III. |
| C. | I and IV. |
| D. | I, II, III, and IV. |
| Answer» D. I, II, III, and IV. | |
| 251. |
What Does the Term: “Premium”, Denote, in Relation to an Insurance Policy? |
| A. | Profit, Earned by the Insurer. |
| B. | Price, Paid by an Insured, for Purchasing the Policy. |
| C. | Margins of an Insurer, on a Policy. |
| D. | Expenses, incurred by an Insurer, on a Policy. |
| Answer» B. Price, Paid by an Insured, for Purchasing the Policy. | |
| 252. |
Illustrate the Purpose of Having the Capital-Adequacy Norms for the Insurers. |
| A. | To Increase the Net Interest Income. |
| B. | To Increase the Profitability. |
| C. | To Maintain the Sufficient Reserves, to Address the Present Needs and Future Needs. |
| D. | To Subsidise the Insurance, for the Poor People. |
| Answer» C. To Maintain the Sufficient Reserves, to Address the Present Needs and Future Needs. | |
| 253. |
What Does, Valuation in Life Assurance, mean? |
| A. | The Process of Arriving at the Profit of a Life Assurance Company. |
| B. | The Process of Determining the Net Premium for a Life Assurance Policy. |
| C. | The Process of Arriving at the Bonus in a Life Assurance Company. |
| D. | The Process, by which, the Value of All the Existing Policies, is ascertained, in a Life Assurance Company. |
| Answer» D. The Process, by which, the Value of All the Existing Policies, is ascertained, in a Life Assurance Company. | |
| 254. |
Identify the Option, that can be termed as Policy- Withdrawal. |
| A. | Surrender of the Policy, in Return for Acquired Surrender-Value. |
| B. | Dis-Continuation of Premium-Payment by the Policy-Holder. |
| C. | Policy Up-Grade. |
| D. | Policy Down-Grade. |
| Answer» A. Surrender of the Policy, in Return for Acquired Surrender-Value. | |
| 255. |
All of the Following, are the Components of Unit- Linked Insurance-Plan (U.L.I.P.) Premiums, Except --. |
| A. | Policy-Allocation-Charge |
| B. | Investment-Risk- Premium |
| C. | Mortality-Charge |
| D. | Social Security Charge, to fulfill Rural Obligations of the Insurance Company, as mandated by Insurance Regulatory and Development Authority of India (I.R.D.A.I.) |
| Answer» D. Social Security Charge, to fulfill Rural Obligations of the Insurance Company, as mandated by Insurance Regulatory and Development Authority of India (I.R.D.A.I.) | |
| 256. |
Formulate a Way of Defining the Surplus, with Regard to Insurance Companies. |
| A. | Excess Value of Cash In- Flow over Cash Out- Flow. |
| B. | Excess Value of Cash Out-Flow over Cash In- Flow. |
| C. | Excess Value of Liabilities over Assets. |
| D. | Excess Value of Assets over Liabilities. |
| Answer» D. Excess Value of Assets over Liabilities. | |
| 257. |
In Case of --, an Insurance Company expresses the Bonus, as a Percentage of Basic Benefit and Already Attached Bonuses. |
| A. | Reversionary Bonus |
| B. | Compound Bonus |
| C. | Terminal Bonus |
| D. | Persistency Bonus |
| Answer» B. Compound Bonus | |
| 258. |
From the Following Options, Select the One, that is Not a Factor, in Determining the Life Assurance Premium. |
| A. | Mortality |
| B. | Rebate |
| C. | Reserves |
| D. | Management-Expenses |
| Answer» B. Rebate | |
| 259. |
Select the True Statements. |
| A. | The Typical Loading to a Net Premium, would have 3 Parts: 1) A Constant Amount for Premiums, 2) A Constant Amount for Each ‘1,000 Sum- Assured’, and 3) A Constant Amount per Policy. |
| B. | The Typical Loading to a Net Premium, would have 3 Parts: 1) A Percentage of Premiums, 2) A Constant Amount for Each ‘1,000 Sum- Assured’, and 3) A Constant Amount per Policy. |
| C. | The Typical Loading to a Net Premium, would have 3 Parts: 1) A Percentage of Premiums, 2) A Constant Percentage for Each ‘1,000 Sum-Assured’, and 3) A Constant Amount per Policy. |
| D. | The Typical Loading to a Net Premium, would have 3 Parts: 1) A Percentage of Premiums, 2) A Constant Amount for Each ‘1,000 Sum- Assured’, and 3) A Percentage Amount per Policy. |
| Answer» B. The Typical Loading to a Net Premium, would have 3 Parts: 1) A Percentage of Premiums, 2) A Constant Amount for Each ‘1,000 Sum- Assured’, and 3) A Constant Amount per Policy. | |
| 260. |
With Regard to Valuation of Assets, by Insurance Companies, What is the Value, at which, the Life Insurer has purchased or acquired its Assets? |
| A. | Discounted Future Value |
| B. | Discounted Present Value |
| C. | Market-Value |
| D. | Book-Value |
| Answer» D. Book-Value | |
| 261. |
In Which Case, Does, a Company express the Bonus, as a Percentage of Basic Benefit and Already Attached Bonuses? |
| A. | Reversionary Bonus |
| B. | Compound Bonus |
| C. | Terminal Bonus |
| D. | Persistency Bonus |
| Answer» B. Compound Bonus | |
| 262. |
Name the Two Policy-Features, on which, Rebates on Premium can be offered by the Insurer. |
| A. | Policy-Plan and Risk- Cover |
| B. | Policy-Plan and Mode of Premiums |
| C. | Sum-Assured and Mode of Premiums |
| D. | Sum-Assured and Policy- Plan |
| Answer» C. Sum-Assured and Mode of Premiums | |
| 263. |
Who bears the Mortality-Risk, in Case of Unit-Linked Insurance-Plans (U.L.I.P.s)? |
| A. | Insurer |
| B. | Insured |
| C. | Insured or Insurer, as specified in the Terms of the Policy. |
| D. | Insurer and the Mutual Fund, where, the Money is invested. |
| Answer» A. Insurer | |
| 264. |
Discover the Scenario, where-in, the Insurer may charge an Extra Premium, to the Insured. |
| A. | Insured is Able to Afford the Extra Charge. |
| B. | Insured is a Standard Risk. |
| C. | Insured is a Sub- Standard Risk. |
| D. | Insured has purchased Other Insurance. |
| Answer» C. Insured is a Sub- Standard Risk. | |
| 265. |
--- is an Example of a Standard Age-Proof. |
| A. | Ration-Card |
| B. | Horoscope |
| C. | Pass-Port |
| D. | Village Panchayat Certificate |
| Answer» C. Pass-Port | |
| 266. |
The Free-Look Period of a Policy lasts for --- Days. |
| A. | 15 |
| B. | 30 |
| C. | 45 |
| D. | 60 |
| Answer» A. 15 | |
| 267. |
Money-Laundering is the Process of Bringing --- Money, into an Economy, by Hiding its --- Origin, so that, it appears to be Legally Acquired. |
| A. | Illegal, Illegal |
| B. | Legal, Legal |
| C. | Illegal, Legal |
| D. | Legal, Illegal |
| Answer» A. Illegal, Illegal | |
| 268. |
--- need to be mentioned in the Agent's Report. Choose the Most Appropriate Option. |
| A. | Matters of Health, Habits and Occupation, Income and Family Details |
| B. | Matters, Related to the Heart |
| C. | Matters, Related to Current Affairs |
| D. | Matters, Related to Personal Ambitions |
| Answer» A. Matters of Health, Habits and Occupation, Income and Family Details | |
| 269. |
--- are recorded and mentioned by the Doctor in His or Her Report, called the Medical Examiner’s Report. Choose the Most Appropriate Option. |
| A. | Financial Details |
| B. | Personal Hygiene |
| C. | Details pertaining to Physical Features, like: Height, Weight, Blood- Pressure |
| D. | Details related to Hospitalisation Preferences |
| Answer» C. Details pertaining to Physical Features, like: Height, Weight, Blood- Pressure | |
| 270. |
Identify the Formal Legal Document, used by Insurance Companies, that provides the Details about the Product. Choose the Most Appropriate Option. |
| A. | Proposal-Form |
| B. | Proposal-Quote |
| C. | Information-Docket |
| D. | Prospectus |
| Answer» D. Prospectus | |
| 271. |
Identify the Feature, that will be checked, in a Medical Examiner's Report. |
| A. | Emotional Behaviour of the Proposer. |
| B. | Height, Weight, and Blood-Pressure. |
| C. | Social Status. |
| D. | Truthfulness. |
| Answer» B. Height, Weight, and Blood-Pressure. | |
| 272. |
Isolate the Valid Combination: Type of Age-Proofs: I: Standard II: Non-Standard Age-Proofs: a: Pass-Port b: Horoscope c: Panchayat Certificate |
| A. | I-b |
| B. | I-c |
| C. | II-a |
| D. | I-a |
| Answer» D. I-a | |
| 273. |
Which One of the Following, is Not a Know-Your- Customer (K.Y.C.) Document? |
| A. | Photograph |
| B. | Age-Proof |
| C. | Address-Proof |
| D. | Horoscope |
| Answer» D. Horoscope | |
| 274. |
Mr. Mahesh is a Drug-Dealer. He doesn't have a Regular Job. He made Rupees 10 Lakhs, from Sale of Drugs. He can't buy a House or Car, etc., with the Money. If He does, the Government will get Suspicious, and start investigating the Drug-Dealer. So, the Drug-Dealer opens a Bar or Tavern, and pads the Books to show Huge Profits on the Tavern, and pays His Taxes on the Money. This is an Example of --. |
| A. | Fraud |
| B. | Mis-Representation |
| C. | Money-Laundering |
| D. | Tax-Jugglery |
| Answer» C. Money-Laundering | |
| 275. |
Look at the Following Scenarios, and Select the Ones, that need to be flagged under an Anti-Money- Laundering (A.M.L.) Programme.
|
| A. | I, Only. |
| B. | II, Only. |
| C. | III, Only. |
| D. | I, II, III, and IV. |
| Answer» D. I, II, III, and IV. | |
| 276. |
Insurance Regulatory and Development Authority of India (I.R.D.A.I.) has built, into its Regulations, a Consumer-Friendly Provision, called as, Free-Look Period. Describe the Same. |
| A. | A Free-Look Period provides a Window, to the Insured, where, He or She is Not Required to Pay the Premiums. |
| B. | A Free-Look Period provides a Window, to the Insured, where, He or She can Return the Policy, if He or She Does Not Like it. |
| C. | A Free-Look Period provides a Window, to the Insured, where He or She can Submit the Claims. |
| D. | A Free-Look Period provides a Window, to the Insured, where, He or She can Add the Nominations on the Policy. |
| Answer» B. A Free-Look Period provides a Window, to the Insured, where, He or She can Return the Policy, if He or She Does Not Like it. | |
| 277. |
Name the Insurance Regulator in India. |
| A. | Insurance Regulatory and Development Authority of India (I.R.D.A.I.) |
| B. | Institute of Insurance and Risk Management (I.I.R.M.) |
| C. | Insurance Institute of India (I.I.I.) |
| D. | National Insurance Academy (N.I.A.) |
| Answer» A. Insurance Regulatory and Development Authority of India (I.R.D.A.I.) | |
| 278. |
Identify the Factor, impacting the Risk, in Case of Insurance. |
| A. | Face-Value |
| B. | Moral Hazard |
| C. | Cash Value |
| D. | Policy Document |
| Answer» B. Moral Hazard | |
| 279. |
Many Proposals are Underwritten and Accepted for Insurance, without calling for a Medical Examination. This Form of Underwriting, is referred to as --. |
| A. | Healthy Underwriting |
| B. | Non-Medical Underwriting |
| C. | Non-Adverse Underwriting |
| D. | General Underwriting |
| Answer» B. Non-Medical Underwriting | |
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