IC38 - HEALTH INSURANCE AGENT EXAM - 10
| Q1.On acceptance of the offer of settlement by the insured,insurer shall make the payment within ___days from the date of acceptance of the offer |
| a) 7 days |
| b) 10 days |
| c) 15 days |
| d) 30 days |
| Q2.Which One of the Following, by Mutual Agreement of the Insured and the Insurer, can act as a Mediator and Counsellor, within the Terms of Reference, in Case of Dispute? |
| Choose the Most Appropriate Option. |
| a) Insurance Agent |
| b) Ombudsman |
| c) Insurer |
| Q3.Which of the following appear as exclusions under personal accident insurance? |
| a) Self-injury or suicide |
| b) Accident while under influence of alcohol or drugs |
| c) War and allied perils |
| d) All of the above |
| Q4.An endorsement follows a request for change in the policy. Which of the following will not be a subject for an endorsement? |
| a) Change of Insured Address |
| b) Change in renewal date |
| c) Increase in Sum Assured |
| d) Cancellation of Cover |
| Q5.Premium is the ____, Paid, by the Insured, to the Insurer, for insuring the Subject-Matter of Insurance, under a Contract of Insurance. |
| a) Contribution |
| b) Consideration |
| c) Fees |
| d) Subscription |
| Q6.In what circumstances may an insurer have the right to avoid paying a claim and to void a household contents insurance policy from inception? |
| a) When a premium installment is not paid |
| b) When a second insurer is used by the insured |
| c) When an undisclosed material fact is discovered |
| d) When the value of contents is mistakenly underestimated by the insured |
| Q7.When there is a possible claim the insured must initially advise the insurer within what time period? |
| a) Immediately |
| b) One Week |
| c) Two Weeks |
| d) One month |
| Q8.Which of the Following, is the Main Objective of the Consumer Protection Act? (i) To Protect the Interests of the Policy-Holders. (ii) To Protect the Interests of the Investors. (iii) To Provide a Simple, Speedy, and In- Expensive Redressal to the Consumer- Grievances. |
| a) Only (i) is Correct. |
| b) Both: (i) and (ii) , are Correct. |
| c) Only (iii) is Correct. |
| d) Both: (i) and (iii) , are Correct. |
| Q9.Under which of the following Fidelity Guarantee policies individual amount of guarantee is NOT specified |
| a) Collective policy |
| b) Floating policy |
| c) Positions policy |
| d) Blanket policy |
| Q10.Which of the below statement is correct with regards to renewal notice? |
| a) As per regulations there is a legal obligation on insurers to send a renewal notice to the insured, 30 days before the expiry of the policy |
| b) As per regulations there is a legal obligation on insurers to send a renewal notice to the insured, 15 days before the expiry of the policy |
| c) As per regulations there is a legal obligation on insurers to send a renewal notice to the insured, 7 days before the expiry of the policy |
| d) As per regulations there is no legal obligation on insurers to send a renewal notice to the insured before the expiry of the policy |
