SEBI - Investor Certification Examination

SEBI - Investor Certification Examination

 14

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Q 1. What is the primary purpose of insurance?

- To make money

- To manage the risk of future loss

- To avoid paying taxes

- Investing in the stock market

Q 2. What is the periodic payment made by the insured to the insurer called?

- Deductible

- Copay

- Premium

- Refund

Q 3. Who is the entity that provides insurance?

- Insured

- Insurer

- Broker

- Client

Q 4. What is the document that outlines the terms of an insurance policy called?

- Receipt

- Invoice

- Contract

- Bill

Q 5. Which type of insurance pays a lump sum at the end of a specific term or on the policyholder's death?

- Term Insurance

- Whole Life Insurance

- Endowment Insurance

- Personal Accident Cover

Q 6. What kind of insurance policy remains active as long as premiums are paid?

- Term Insurance

- Whole Life Insurance

- Endowment Insurance

- Unit Linked Insurance

Q 7. Which type of insurance combines insurance with an investment component?

- Term Insurance

- Whole Life Insurance

- Endowment Insurance

- Personal Accident Cover

Q 8. Which insurance policy provides compensation for injuries, disability, or death caused by an accident?

- Term Insurance

- Whole Life Insurance

- Endowment Insurance

- Personal Accident Cover

Q 9. What is another term for motor insurance?

- Health Insurance

- Life Insurance

- Auto Insurance

- Travel Insurance

Q 10. Which type of life insurance is active for a fixed period?

- Term Insurance

- Whole Life Insurance

- Endowment Insurance

- Personal Accident Cover

Q 11. What is the benefit of having insurance?

- Guarantees profit

- Eliminates all risk

- Provides financial protection

- Ensures free services

Q 12. Who is the person or entity buying insurance called?

- Insurer

- Broker

- Agent

- Beneficiary

Q 13. Which type of insurance pays out to your nominees in the event of your death during the policy term?

- Whole Life Insurance

- Endowment Insurance

- Term Insurance

- Motor Insurance

Q 14. What does the insurance policy contain?

- Payment receipts

- Detailed terms and conditions

- Customer testimonials

- Investment strategies

Q 15. What type of insurance is designed to protect vehicles?

- Term Insurance

- Life Insurance

- Endowment Insurance

- Personal Accident Cover

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