IC22 Mock Test Sample 16
This set focuses on life insurance underwriting, risk assessment, and basic medical knowledge. Underwriting mainly involves evaluating and pricing risk, considering factors like occupation, health, and lifestyle, while excluding unpredictable events like accidents in mortality assumptions. High-risk avocations (e.g., scuba diving, car racing) and serious medical conditions may lead to decline decisions. Reinsurance treaties define terms and help manage risk, including retrocession. Medical understanding is essential, covering CNS disorders, COPD, diabetes, and infections. It also includes body composition, functions of blood cells, and digestive disorders. Overall, it highlights how insurers integrate medical, occupational, and financial factors for accurate risk selection and decision-making.
1. Life insurance underwriting is mainly concerned with which aspect(s)?
a) Pricing the risk
b) Standardizing the risk
c) Evaluation of the risk
d) Both (a) & (c)
2. ____________ Is a disease of the CNS which leads to recurring attacks of neurological symptoms.
a) Arteriovenous Malformation
b) Multiple Sclerosis
c) Cavernous Malformation
d) Brain Aneurysm
3. As per life insurance underwriting, occasional history of Urinary Tract Infection which has been treated with antibiotics has _______.
a) Little impact on mortality
b) No impact of morbidity
c) No impact on mortality
d) More impact on mortality
4. In the case of insurance underwriting, an assumption is made towards mortality of an individual by excluding which of the following factor?
a) Accidents
b) Family history
c) Occupation
d) Health factors
5. Which of the following avocation activity involves the use of specialised equipment which assists the diver and enables an individual to remain submerged for long periods?
a) Micro light flying
b) Mountaineering
c) Scuba diving
d) Hang gliding
6. Which of the following avocation is having high risk exposure for underwriting insurance cover?
a) Car racing
b) Aviation
c) Ballooning
d) Scuba diving
7. Which of the following types of diabetes can be controlled by dietary control?
a) Type I
b) Type II
c) Gestational
d) Both Type I and Type II
8. “Inflammatory bowel disease” is a disorder of which part of the digestive system?
a) Small intestine and large intestine
b) Esophagus
c) Stomach
d) Gall bladder
9. Which is an important source of electricity in India after thermal, hydroelectric and renewable sources?
a) Nuclear power
b) Natural gas
c) Coal
d) Mineral oils
10. The Central Nervous System (CNS) consists of:
a) Brain
b) Spinal cord
c) Bones
d) Both (a) & (b)
11. For which of the following reasons the proposal can be declined by the insurance underwriter?
a) Hazardous occupation
b) No improvement in medical condition
c) Restricted residential area
d) All the above
12. Individuals diagnosed with pre-diabetes later on develop:
a) Type I Diabetes
b) Type II Diabetes
c) Hyperglycaemia
d) Gestational Diabetes
13. Name the type of exclusion that defines certain risks not covered under a life insurance policy.
a) Special exclusions
b) Specific exclusions
c) General exclusions
d) Both (b) & (c)
14. What includes provisions and conditions related to different types of reinsurance?
a) Underwriting philosophy
b) Reinsurance treaties
c) Retrocedent
d) Resolution methodology
15. What information is required while underwriting COPD cases in Life Insurance?
a) Extent of current damage
b) Rate of disease progression
c) Treatment taken
d) All (a), (b) & (c)
16. Human body consists of about ____ percent solids and ______ percent water.
a) 30% & 70%
b) 22% & 78%
c) 28% & 72%
d) 20% & 80%
17. Judgment method is highly effective when expert advice is needed in cases involving:
a) One adverse factor
b) Maximum two adverse factors
c) More than two adverse factors
d) No adverse factors
18. ____________ is the reinsurance that accepts the risk from another reinsurer.
a) Retrocession
b) Retention limit
c) Retrocessionaire
d) Retrocedant
19. Life insurance companies generally employ which process for underwriting?
a) Random selection
b) Adverse selection
c) Medical examination only
d) Risk selection
20. The primary function of white blood cells is to ______.
a) Carry oxygen and carbon dioxide
b) Blood clotting
c) Fight infections
d) Increase platelets
