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1. How are perils and hazards normally distinguished under term insurance policies?

A. Perils are medical factors which influence the risk of dying and hazards are lifestyleactivities which influence the risk of dying.

B. Perils are risks that policyholders will die before a specified date and hazards arefactors which could influence that risk.

C. Perils are factors which affect the risk being insured and hazards are the size of the riskbeing insured.

D. Perils are factors which could influence an insured event occurring and hazards arethe actual events which will trigger a payout

2. In the context of financial planning, how is the difference etween real needs and perceivedneeds est descried?

!. "eal needs are financial needs and perceived needs are non#financial needs.

B. Real needs are actual needs and perceived needs are based on a clientsthoughts and desires.

$. "eal needs are identified y the insurance agent and perceived needs are identifiedy the client.

D. "eal needs are needs which satisfy an o%ective and perceived needs are needswhich do not satisfy an o%ective.

&. If a person is concentrating more on health plan and retirement plan then at which stage oflife is he in.

!. 'oung unmarried

(. 'oung married

$. 'oung married with )ids

D. Pre retirement

*. +he Institute of insurance and ris management along with insurance education does whatmore

!. "egulation

(. "edressal

C. Research


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D. "epository

-. If the client does not wish to proceed with the recommendations right at the moment theagent should

!. Insist on taing the product right away

B. Should ask for the reason for not going with the recommendation

$. hould as for a future date from the client

D. hould review once again

/. uresh has ade0uate reserve capital with him and he wishes to protect his income,moreover he feels that if he does not die then he would need the amount. 1hat type of planshould he opt for?

!. +erm Insurance Plan

B. ndowment plan

C. Return of premium plan

D. Pension plan

3. ! claim was paid in a policy and it was advertised in the newspaper also. +his indicates thatthe policy was.

!. It was assigned.

(. It was paid up.

C. It was lost.

D. It was surrendered.

4. !n indemnity ond was signed in a policy when the claim was paid. +his indicates that thepolicy was.

. It was lost.

(. It was paid up.

$. It was lapsed.

D. It was surrendered.

5. 6anish and 6anisha is a married couple with one child. +hey want to plan for savings, childeducation7marriage and their retirement and protection of income. 1hich should e theirlowest priority?

. !arriage.


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(. avings.

$. ducation.

D. Protection.

89. 1hile calculating H:; along with future income, no of years of wor, increments in salarywhat is also to e taen in to account?

!. Inflation.

(. Interest.

C. Discount rate

D. $ompounding.

88. If "(I increases the interest rates then what will e the effect on share prices.

!. hares will e more attractive.

B. Shares will be less attractive.

$. :ife Insurance $ompany

B. "ishal is older than Sandeep

$. andeep is earning more then ;ishal

D. ;ishal is woring in a 6$

8&. During fact finding, 1hat will e the next step after Identifying clients need

. #uantif$ clients need

(. Priorities $lients eed

$. "ecommending Product

D.


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(.


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85. 1hich of the following falls under voidale contract?

. !isrepresentation

(. :ac of insurale interest

$.


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D. Cive the lead to another agent

2*. If a case is already efore the consumer forum, then the omudsman should

!. Cive a recommendation

(. Cive a %oint decision with the consumer forum

C. Dismiss the case

D. Cive an award.

2-. If the sum assured remains the same, what will e impact of net premium if the age of thepolicyholder increases

!. It rises

(. It falls

C. It remains constant

D. Cross premiums increases

2/. 1hat is the advantage of converting physical gold assets to gold +


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$. Pass on to the superior

D. Pass on to the other agent

25. Cenerally insurance companies do not hold the premium in case of a fraud or

misrepresentation. However, due to which of the following circumstances the insurer canretain the premium of the policyholder

!.


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!. :ife :ong !nnuity

B. /pen !arket

$. "einsuring !nnuity

D. Cuaranteed !nnuity

&*. If a policy holder uys a policy from the advisor and lodges a complaint, it should etreated as E

. Same for all policies sold b$ advisor

(. ame for all policies sold y the advisor except corporate clients

$. (oth are correct

D. (oth are wrong

&-. !n investor holds a wide range of shares. If the "eserve (an of India announces a seriesof significant interest rate increases, the prices of these shares are most liely to

!. (ecome volatile

B. Decrease

$. Increase

D. All are wrong

&/. In life insurance usiness if a person is woring in calculating premium rates of insuranceproducts, then he is mostly liely a memer of

. institutes of actuaries of India

(. insurance institute of India

$. $harted institute of insurance

D. Insurance institute of ris management

&3. In a life insurance policy it is later found that the person doesnAt have insurale interestthen the contract is

!. expired

(. reviewed

$. ;oid

D.

"alid

&4. If oth parents of proposer died in their thirties due to heart attac what is the ind of peril


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or hazard the proposer has?

!. Insurale hazard

(. moral hazard

$. non insurale hazard

D. Ph$sical ha+ard

&5. "auna earns 49,999 per month as salary. He has taen a House loan of "s. -99999.1hat will e the maximum amount of 6I that can e charged y the (an to recover theloan amount?

. Rs. )'000 per month

(. "s. 2*999 per month

$. "s. *9999 per month

D. "s. *4999 per month

F$hapter /78& # $are should e taen to ensure that 6Is do not exceed *9G of the monthly tae homesalary.

*9.


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!. "is profile of oth the policyholder are different

(. !ge of oth the candidate are different

$. ne has chosen ingle premium policy and other has chosen regular premium

policy

D. Both have chosen different kind of policies.

*&. pen maret option under !nnuity policy would extend which of the following enefit?

!. ,nsure Better annuit$ rate

B. Increase in the range

$. Increase in return

D. witch of


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!. +he premium collected @ deposited in a pool

B. ll similar risks are pooled together

$. Premium is pool to mae claims

D. $ontriution of insurance company

*4. Principle of utmost good faith will operate in existing policy

!. very time premium is paid

B. If the polic$ has lapsed and it has to be revived.

$. If the insured person falls sic and is admitted to hospital.

D. If the insured person changes his %o.

*5. (oth the parties to a contract must agree and understand the same thing and in the samesense which is called

!. $onsideration.

(. :egality of an o%ect.

C. Consensus ad idem.

D.

!cceptance.

-9. In case of life insurance, Insurale interest must exist

. t inception of polic$

(. ot needed

$. !t the time of claim

D. !ny time during the contract


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