IC92 - ACTUARIAL ASPECTS-04
ACTUARIAL ASPECTS IC92 MOCK- Click Here
| Q1.Which of the following are advantages of the cash flow method? |
| a) It is time-consuming |
| b) One cannot generalize the premium rates of all insurance products |
| c) Tax can be allowed for more appropriately |
| d) None of these |
| Q2.Distributors earn their income by which of the following methods? |
| a) Profit sharing |
| b) Interest |
| c) Commission |
| d) Percentage of sales revenue |
| Q3.Mr.X Buys an Endowment Assurance contract with profits for a sum assured of Rs.1,00,000 policy term is of 20 years. He dies in the 6th policy year (after payment of 6 annual premiums). Insurer's bonus declarations were(for this contract) per 1000 Sum Assured. 1st policy year:40 2nd - 45 3rd - 40 4th - 50 5th - 55 6th - 60 Calculate the Benefit payable on death? |
| a) Rs.75,000 |
| b) Rs.1,00,000 |
| c) Rs.1,15,000 |
| d) Rs.1,29,000 |
| Q4.Who is called as person or entity named in the policy as the recipient of insurance proceeds upon the death of the insured? |
| a) Business insurance |
| b) Coverage |
| c) Beneficiary |
| d) Exclusions |
| Q5.What means legal transference and a method by which the policyholder can pass on his interest to another person? |
| a) Annuity plans |
| b) Assignment |
| c) Application form |
| d) Endowment policy |
| Q6.Mr.Y Buys an Endowment Assurance contract with profits for a sum assured of Rs.2,00,000 policy term is of 20 years. He dies in the 6th policy year (after payment of 6 annual premiums). Insurer's bonus declarations were(for this contract) per 1000 Sum Assured. 1st policy year:40 2nd - 45 3rd - 40 4th - 50 5th - 55 6th - 60 Calculate Total vested bonuses? |
| a) Rs.58,000. |
| b) Rs.68,000. |
| c) Rs.78,000. |
| d) Rs.88,000. |
| Q7.Application of margin will result in into______investment return assumption than the best estimate? |
| a) Higher |
| b) Lower |
| c) Both |
| d) None |
| Q8.A ____ is a series of regular payments by the life insurance company to the policyholder as long as he is alive in return for a single advance payment. |
| a) Annuity |
| b) Endowment |
| c) Death Insurance |
| d) None of these |
| Q9.In India, the _____ method is used to calculate the reserve of life insurance liabilities. |
| a) Gross premium valuation |
| b) Net premium valuation |
| c) Cash flow method |
| d) Formula method |
| Q10._____ plays an important role in insurance product design. |
| a) Amount |
| b) Regulations |
| c) Range |
| d) Distribution |