IC27 HEALTH INSURANCE EXAM - 18
| Q1.As per the IRDA definition, the maximum waiting period for covering pre-existing illness/ disease is 48 months. Which of the following is correct in this regard? |
| The waiting period can be reduced |
| The waiting period can be increased |
| Insurers are free to decide any waiting period |
| The waiting period cannot be changed |
| None of the above |
| Q2.Under health insurance, there are various types of risks being faced by an insurer. Which is risk associated with liquidity risk? |
| Underwriting practices and risk appetite is the core for this type of risk |
| Liquidity risks depend on the mix of investment options chosen by the insurer |
| Liquidity risks depend on the overall environment in the economy |
| Even if the insurer is profitable, there can still be a mismatch between the cash flows and current assets and liabilities |
| Even if the insurer holds good quality assets, holding long term debt can lead to liquidity risk |
| Q3.CABG under critical illness refers to: |
| Coronary Artery Bypass Grafting |
| Corona Alternative Bypass Grafting |
| Corporate Alter Bypass Governance |
| Bypass of Coronary Alternative Graft |
| Cataract Alternate Bypass Governance |
| Q4.Morbidity is the likelihood or risk of a person getting ill or sick thereby requiring treatment or hospitalization. Which of the following do not influence morbidity? |
| Diabetes |
| Age of senior citizens |
| Overweight |
| The past or present history of the ailment |
| All Occupations |
| Q5.What is RAG (Red, Amber, and Green) under technology and process interface? |
| Fraud investigations by RAG agencies |
| Propensity modeling |
| Ease of data capture |
| Is a robust whistleblower policy |
| Hospitals, agents, diagnostic centers, etc. are rated red, amber, or green based on terms of claim |
| Q6.Apart from technical analysis, which of the following is NOT a consideration in pricing a health insurance product? |
| Claims guarantee |
| Premium guarantee |
| Comparison with similar product of the competitors |
| Comparison with other products of the same company |
| Cross subsidy |
| Q7.Data is one of the vital elements of the health insurance business. It is used in designing and pricing health insurance products. Data is extensively used by the policymakers like - 1. IRDAI 2. Ministry of Health and Family Welfare 3. Home Ministry |
| Only 1 and 2 are correct |
| Only 1 is correct |
| Only 3 is correct |
| Only 1 and 3 are correct |
| Only 2 is correct |
| Q8.How many drugs are under the price control regime? |
| Almost all |
| About 25% |
| No drug is under the price control regime |
| About 50% |
| A very small number |
| Q9.What is the approx? percentage of population covered under commercial health insurance in India? |
| 5% |
| 25% |
| 10% |
| 2% |
| No data is available |
| Q10.Analyze the options and mark the measure(s) under human interface/process improvisation where fraud is not manageable? |
| Stop doing business in that format |
| Welcome call |
| Fraud investigations by outside agencies |
| Comprehensive claims information |
| Ability to detect fraud effectively |
