IC27 Mock Test Sample 5
Health insurance in India has grown rapidly due to rising awareness and better marketing by insurers. Key schemes like ESIS and CGHS provide coverage to workers and government employees, funded through contributions and government support. The sector evolved significantly post-2000 reforms, allowing private participation. Health insurance mainly covers hospitalization, with certain exclusions like fertility treatments. Concepts like cashless systems reduce financial burden during hospitalization. Factors such as underwriting, age, and medical tests influence policy issuance. The market also faces challenges like information asymmetry and rising healthcare costs. Overall, health insurance plays a vital role in financial protection and improving access to healthcare services.
1. What has contributed to the rapid growth of the health insurance market segment in the non-life insurance industry?
a) Decreased awareness among the people about the protective role of health insurance
b) Reduced marketing efforts by insurers
c) Improved focus on marketing of health insurance products by insurers
d) Lack of interest in health insurance
2. What does the term "cashless system" mean in the context of hospitalization cover?
a) Hospitals do not accept any form of payment
b) Individuals must pay for hospitalization in cash
c) Individuals need to borrow money to cover hospital expenses
d) Individuals do not need to arrange a large amount of money for hospital payments
3. When did insurance in its modern form first arrive in India?
a) During the Vedic period
b) During the Mughal era
c) During the 18th century
d) During the early 19th century
4. What was the result of the establishment of the Insurance Regulator in 2000?
a) Nationalization of the insurance industry
b) Merger of private non-life insurers
c) Creation of subsidiary insurance companies
d) A new reform in the insurance industry
5. What are the two main factors contributing to the rapid growth of the health insurance portfolio?
a) Decreasing awareness and government schemes
b) Mass government schemes and reduced marketing efforts
c) Increased hospitalization costs and limited availability
d) Increasing awareness and improved marketing efforts by insurers
6. What was the primary purpose of the Indian Life Assurance Companies Act, 1912?
a) To nationalize the insurance industry
b) To regulate insurance companies in India
c) To establish the first insurance company in India
d) To merge private insurers into LIC
7. What significant event in 1956 changed the Indian life insurance industry?
a) Establishment of Insurance Regulator
b) Formation of LIC by merging private insurers
c) Opening market to private players
d) Malhotra Committee report
8. When did the Indian insurance market open for private insurers?
a) 1956
b) 1973
c) 1994
d) From August 2000
9. When did health insurance formally begin in India with ESIS?
a) 1947
b) 1954
c) 1973
d) 1994
10. Who were the initial beneficiaries of ESIS?
a) Central government employees
b) Blue-collar workers in private sector
c) State government employees
d) Self-employed individuals
11. What is the primary source of financing for ESIS?
a) Central government funding
b) Private donations
c) Contributions from employers and employees
d) State government funding
12. Who funds the Central Government Health Scheme (CGHS)?
a) Employees only
b) Employers only
c) Central government only
d) Central government and employees
13. Which scheme was introduced in 1954 for central government employees?
a) CHIS
b) NHIS
c) ESIS
d) CGHS
14. Under health insurance policies, which of the following is an exclusion?
a) Cost of pacemaker
b) Cost of haemodialysis
c) Transplantation
d) Fertility or associated conception
15. Which of the following does NOT have significant impact on the health sector at government level?
a) Ministry of Women & Child Development
b) Integrated Child Development Scheme
c) IRDAI
d) Ministry of Labour
16. Genetic abnormalities can broadly be classified as:
a) Only acquired
b) Only inherited
c) Acquired and inherited
d) Country-specific
17. Rajesh has a top-up policy. Expenses are ₹7 lakh with threshold ₹6 lakh. Claim under top-up?
a) ₹5,00,000
b) ₹6,00,000
c) ₹7,00,000
d) ₹1,00,000
18. Persons falling within which age group must undergo medical tests for first-time enrollment?
a) 35–40 years
b) Up to 45 years
c) 45–50 years
d) 35–50 years
19. Under which insurance, a diabetic person may not be rated higher risk?
a) Personal accident insurance
b) Life insurance
c) Medical insurance
d) Professional indemnity insurance
20. Estimated number of AYUSH practitioners in India is:
a) 10,25,000
b) More than 1 crore
c) Around 75,000
d) Around 7,20,000
