IC38 - English Exam (Life Agent Exam) Mock Test 09
These IC38 questions cover pre-policy check-up expenses, endowment assurance, group health insurance premiums, proposal-stage responsibilities, terminal bonuses, policy termination, medical underwriting, fire insurance losses, disclosure of material facts, and the RTI Act. Pre-policy medical check-ups may have a specified reimbursement percentage according to policy provisions. Endowment policies provide benefits according to their terms. Group claims experience can influence premium calculations. Insurance agents should assist customers honestly during proposal completion and clarify doubts. Terminal bonuses are generally linked to policy termination events. Medical underwriting considers factors such as age, sum assured, family and personal history. Fire policies may cover certain consequential damages. Material facts must generally be disclosed, while RTI requests are handled through designated authorities.
Q1. What is the reimbursement percentage for pre-policy check-up expenses?
a) 0.1
b) 0.25
c) 0.5
d) 1
Q2. What is the survival benefit component of an Endowment Assurance policy?
a) Payment to the insured's nominees
b) Payment to the government
c) Payment to the insurance company
d) Payment to the insured
Q3. What role does the claims experience of the group play in premium calculation?
a) It determines the coverage limits for each member
b) It affects the waiting periods for certain conditions
c) It influences the premium amount based on the group's past claims history
d) It has no impact on the premium calculation
Q4. What should an agent do during the proposal stage of insurance?
a) Provide false information in the proposal form
b) Not clarify details to the proposer
c) Help the customer in completing formalities
d) Ignore the proposer's doubts and concerns
Q5. When does a Terminal Bonus attach to a life insurance contract?
a) At the time of policy purchase
b) At the time of premium payment
c) Only at the time of policy termination (by death or maturity)
d) At the time of policy surrender
Q6. When does the policy terminate?
a) After a certain number of years
b) Once the insured person reaches a certain age
c) Once compensation is paid for any insured person
d) At the end of the policy term
Q7. Which factors are considered in medical underwriting?
a) Age and large sum assured
b) Moral hazard and heredity
c) Family history and personal history
d) Field level and underwriting department level
Q8. Which of the following losses are customarily paid by business under fire insurance policies?
a) Damage to property caused by water used to extinguish fire
b) Damage to property caused by fire brigade in execution of their duty
c) Damage to property during its removal from a burning building to a safe place
d) All of the above
Q9. Which of the following scenarios do not require disclosure of material facts?
a) Existence of policies taken from all insurers and their present status
b) All questions in the proposal form or application for insurance are considered to be material, as these relate to various aspects of the subject matter of insurance and its exposure to risk. They need to be answered truthfully and be full in all respects.
c) None of the above
d) Hazardous nature of cargo being sent by a ship, past history of illness, past history burglary of a house
Q10. Who deals with requests for information under the RTI Act?
a) The Chief Public Information Officer (CPIO)
b) The Insurance Regulatory & Development Authority
c) The public authorities
d) The IRDAI
