irdaic33test2.doc

7/26/2019 IRDAIC33TEST2.doc

1/5

IRDA IC33 TEST -2 ENGLISH

1) Insurance products

Risk Coer Inest!ent "ption Co!#ination o$ %irt& None o$ t&e

a#oe

2) Insurance co!panies proide co!pensation in case so!et&in' &appens to

Indiidua( Insured A'ent IRDA

A(( Ao#e

3) Insurance o$$ers considera#(e ta* #ene$its under t&e

Inco!e Ta* Act 1+, Inco!e Ta* Act 1+,1

Inco!e Ta* Act 1+,2 Inco!e Ta* Act 1+,3

.) Insurance /re!iu! 0ua(i$ies $or deduction $ro! ta*a#(e inco!e under

Section C Section D Section 1D

Section 1C

) T&e $o((oin' t4pes o$ risk can #e insured a'ainst

5inancia( risks /ure risks /articu(ar risks A(( A#oe

,) T&e outco!es o$ risks t&at can #e !easured in !onetar4 ter!s are knon as

5inancia( risks /ure risks /articu(ar risks None o$ t&e

a#oe

6) Loss o$ Li$e needs

To proide $or an4 !edica( e*penses t&at !i'&t arise

To proide $or c&i(dren7s &i'&er education

To proide a stead4 source o$ inco!e to dependants a$ter deat&

None o$ t&e a#oe

) To proide $or c&i(dren7s !arria'e e*penses !eans

Retire!ent Sain's Accu!u(ation Disease A(( A#oe

+) 88888888888888 inc(ude !edica( e*penses and (oss o$ earnin's

Loss o$ Li$e Disa#i(it4 Sain's Accu!u(ation Retire!ent

1) Sain's accu!u(ation !eans

To proide $or c&i(dren7s &i'&er education To proide $or c&i(dren7s !arria'e e*penses

%ot& None o$ t&e a#oe

11) In t&e $irst 8888888888 4ears o$ t&e po(ic49 i$ t&e insurance co!pan4 co!es to kno t&at so!e !ateria( $act &as not #een

disc(osed #4 t&e proposer9 it can dec(are t&e po(ic4 to #e nu(( and oid

2 3 .


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12) I$ San:a4 took &o(e (i$e po(ic4 a$ter 1 4ears &e dia'nosed it& dia#etes &ic& &e does not disc(osure to LIC

Is t&is

Concea(!ent o$ a !ateria( $act 5raudu(ent !isrepresentation

Innocent !isrepresentation None o$ t&e a#oe

13) Li$e insurance contracts are a(so knon as

;a(ue contracts Le'a( contracts Lo'ica( contracts None o$ t&e a#oe

1.) 88888888888888 co!es into e*istence &en one part4 !akes an o$$er &ic& t&e ot&er part4 accepts unconditiona((4

A /o(ic4 An A'ree!ent A Contract A /roposa(

1) In an insurance contract9 consideration is 8888888 paid #4 t&e propose to t&e insurance co!pan4

Su! Assured /re!iu! %onus Lo4a(t4 addition

1,) 888888888 !eans p(acin' t&e insured in t&e sa!e $inancia( position a$ter t&e (oss9 as t&e4 ere #e$ore t&e

occurrence o$ t&e (oss

Inde!nit4 &at i(( &appen i$ a co!pan4 $inds itse($ e*posed to aderse se(ection

It i(( co((ect !ore o$ e*tra pre!iu! t&an nor!a(

T&e pre!iu! it co((ects i(( #e !ore t&an t&e c(ai!s it pa4s?

It !a4 $ind t&at it pa4s out !ore c(ai!s t&an anticipated

None o$ t&e a#oe

21) >&at i(( &ae a #ad e$$ect on t&e co!pan4

Aderse se(ection C&an'in' e*tra pre!iu!

None o$ t&e a#oe A(( o$ t&e a#oe


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22) @@@@@ 'ie t&e insured t&e option to participate t&e 'rot& o$ t&e capita( !arkets

Ter! insurance =nit (inked Hea(t& insurance A(( o$ t&e

a#oe

23) T&e ti!e 'ap #eteen t&e po(ic4 start date and t&e date o$ co!!ence!ent o$ risk

De$er!ent period /re!iu! pa4in' period

Coo(in' o$$ period None o$ t&e a#oe

2.) =nder section C t&e !a*i!u! ta* deduction t&at can #e 'ained $or pre!iu! paid is Rs@ in $inancia( 4ear

9 199 69 29

2) T&e !aturit4 #ene$it a!ount receied #4 t&e (i$e insured is ta*-$ree under section @ o$ t&e

Inco!e Ta* Act

112 1 1D) . None o$ t&e a#oe

2,) 5or Inco!e Ta* #ene$its9 t&e pre!iu! s&ou(d not #e !ore t&an @@@B o$ t&e su! insured

1 2 3 2

26) %SE stands $or

%o!#a4 securit4 e*c&an'e %o!#a4 si(er e*c&an'e

%o!#a4 stock e*c&an'e None o$ t&e a#oe

2) NSE stands $or

Nationa( Stock E*c&an'e Nationa( Securit4 E*c&an'e

Nationa( Si(er E*c&an'e None o$ t&e a#oe

2+) A s&are&o(der receies t&e a s&are in t&e co!pan47s pro$its in t&e $or! o$

Interest Appreciation Diidends None o$ t&e

a#oe

3) T&e issue o$ @@@@ is a ote o$ con$idence $ro! t&e !ana'e!ent to its s&are&o(ders a#out t&e 'ood $inancia( per$or!ance

and $uture prospects o$ t&e co!pan4

Diidend %onus s&ares Hi'& interest A(( o$ t&e

a#oe

31) In t&e case o$ @@@@ t&e inestors are t&e (enders &o receie interest on t&eir (oan

%onds S&ares 5i*ed deposits Ter! deposits

32) @@@@@ are issued to raise !one4 $ro! t&e pu#(ic #4 a4 o$ (oan

S&ares 5i*ed deposit Ter! deposit %onds

33)


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3.)


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..)T&ere i(( so!eti!es #e situations &ere c(ients &ae #een !is-so(d po(icies t&at do not !atc& t&eir needs T&en t&e a'ent

can 'ae adice o$ 888888to c(ient

Reia(

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