IC22 Mock Test Sample 15
This set of questions covers key concepts of life insurance underwriting, reinsurance, and basic human physiology. Underwriting involves assessing risk using manuals, financial strength, and applicant details to decide acceptance, rejection, or special terms. Reinsurance concepts like retention limits and regulatory guidance (IRDA) help insurers manage risk exposure. Medical knowledge is important, including understanding organs like the brain (cerebrum), kidneys, and blood vessels, along with conditions such as thyroid disorders, thalassemia, and diabetes. It also highlights processes like RBC lifespan, albumin levels, and functional disorders. Overall, it integrates insurance decision-making with medical and risk assessment principles essential for underwriting.
1. _____________ Is the largest division of the brain and consists of two sides the right and left cerebral hemispheres, which are interconnected by the corpus callosum.
a) Cerebellum
b) Vertebral Column
c) Brain Stem
d) Cerebrum
2. The quantum of liability which the ceding company takes on is known as______.
a) Retention limit
b) Shared risk
c) Reinsured risk limit
d) Premium limit
3. While processing the life insurance application, which of the following helps in minimizing the risk of mis-selling by the different distributing channels?
a) Proposal form
b) Reference call
c) Insurance agent
d) Medical certificate
4. Which of the following are included in the underwriting manuals?
a) Extra mortality rates for all possible medical conditions
b) Description of various impairments
c) Medical documentations
d) All (a), (b) & (c)
5. Risk tolerance in an insurance company depends on the_____.
a) Number of employees
b) Size of the office
c) Financial strength of the company
d) Number of policyholders
6. Based on the rating estimated by the underwriter, which one of the following decisions is not taken by him?
a) Decline the risk
b) Postpone the risk
c) Acceptance of the risk
d) Accept the risk with special terms
7. In underwriting department who manages and controls the administration of various activities and sub-activities other than technical underwriting?
a) Core underwriting team
b) Underwriting support team
c) Third party administrators
d) The medical director
8. Which of the following diseases is not related to thyroid gland?
a) Adenomas
b) Cretinism
c) Hyperthyroidism
d) Goiter
9. Name the blood vessels that return the deoxygenated blood to the heart?
a) Veins
b) Valve
c) Arteries
d) Atria
10. _______ has the clear guidelines for the reinsurers that include the objectives and the scope of their business in India.
a) GIC
b) LIC
c) IRDA
d) RGA
11. Which part is the reservoir for storing the urine until it is ready to be discharged from the body?
a) Ureters
b) Urethra
c) Meatus
d) Urinary bladder
12. If the presence of albumin in the urine sample is between 30–300 mg/day, then it is known as:
a) Normoalbuminuria
b) Microalbuminuria
c) Macroalbuminuria
d) None of the above
13. Which of the following is not a type of Beta thalassemia, a blood disorder?
a) Thalassemia intermedia
b) Thalassemia carrier
c) Thalassemia alpha
d) Thalassemia minor
14. Which of the following insurance underwriting method is rarely used in present times?
a) Judgment method
b) Rating method
c) Numerical rating method
d) None of the above
15. Normally for how many days the red blood cells live in the human body?
a) 50 days
b) 80 days
c) 100 days
d) 120 days
16. Which is the most important part of brain stem?
a) Pons
b) Midbrain
c) Medulla
d) All of the above
17. Which is the standard document required for the insurance cover for the Married Women Property’s Act?
a) Salary slips for the last 6 months
b) Addendum duly signed by the proposer
c) Individual income tax returns
d) Property papers duly signed
18. Extra premiums can be loaded in the form of:
a) Extra premium based on extra mortality rate
b) Standard extra premium
c) Special extra premium
d) Both (a) & (b)
19. Diabetes can be cured with diet, exercise and medication. State that the statement is true or false?
a) True, diabetic patients are advised to exercise daily
b) False, it is a lifetime disease and can only be controlled
c) False, medication is the only cure
d) True, it can be cured through lifestyle and medication
20. _____________ Is an example of functional disorder
a) Stroke
b) Meningitis
c) Epilepsy
d) Parkinson’s disease
