SEBI - Investor Certification Examination
SEBI - Investor Certification Examination
Q 16. What happens under a term insurance policy in the event of the policyholder's death during the policy term?
- No payout is made
- Premiums are refunded
- The nominees receive the "Sum Assured."
- The policy is canceled
Q 17. How long does a term insurance policy remain active?
- For the lifetime of the policyholder
- As long as premiums are paid
- Until the policyholder decides to cancel it
- Until the policyholder reaches a certain age
Q 18. What is the primary feature of an endowment insurance policy?
- It covers only accidental deaths
- It provides coverage for the entire life of the policyholder
- It pays a lump sum amount after a specific term or upon the policyholder's death
- It only covers critical illnesses
Q 19. What type of life insurance stays active as long as premiums are paid?
- Term Insurance
- Endowment Insurance
- Whole Life Insurance
- Personal Accident Cover
Q 20. Which insurance combines insurance coverage with an investment component?
- Term Insurance
- Endowment Insurance
- Whole Life Insurance
- Personal Accident Cover
Q 21. What does a personal accidental cover policy provide?
- Coverage for medical expenses
- Monetary compensation for injuries, disability, or death caused by accidents
- Insurance for travel risks
- Life insurance benefits
Q 22. What is another term for motor insurance?
- Health Insurance
- Travel Insurance
- Auto Insurance
- Group Insurance
Q 23. What does health insurance cover?
- Damage to vehicles
- Property theft
- Medical and surgical expenses
- Life insurance benefits
Q 24. Which type of insurance covers travel-related risks?
- Life Insurance
- Health Insurance
- Travel Insurance
- Motor Insurance
Q 25. Which insurance policy provides financial reimbursement for damage or theft of a structure and its contents?
- Health Insurance
- Travel Insurance
- Property Insurance
- Motor Insurance
Q 26. What is group insurance?
- Insurance covering only family members
- Insurance policy covering a defined group of people
- Insurance for individual travelers
- Insurance covering multiple vehicles
Q 27. What is the main role of the Insurance Regulatory and Development Authority of India (IRDAI)?
- To sell insurance policies
- To set insurance premiums
- To regulate the insurance sector and protect policyholders' interests
- To invest in insurance companies
Q 28. What can a comprehensive travel insurance policy cover?
- Only lost luggage
- Only travel cancellations
- Emergency medical cover, cancellations, death and disability, personal liability, and luggage cover
- Only personal liability
Q 29. Which insurance policy type typically includes homeowners, renters, flood, and earthquake insurance?
- Health Insurance
- Travel Insurance
- Property Insurance
- Motor Insurance
Q 30. Where should one refer for grievance redressal regarding the insurance sector?
- IRDAI official website
- Chapter 12 of the financial education booklet
- Local insurance office
- Local consumer court