IC38 - HEALTH INSURANCE AGENT EXAM - 19
| Q1.If the insurer decides that a certain loss is not payable because it is not covered under the policy then who decides on such matters? |
| a) Insurers decision is final |
| b) Umpire |
| c) Arbitrator |
| d) Court of Law |
| Q2.Hospitalisation Indemnity Products provide for a __before any benefits commence |
| a) Cost Sharing by the Insured |
| b) Waiting Period |
| c) Check-up by a registered doctor |
| d) Blood and Urine Test |
| Q3.____ is Not a Type of Hazard. |
| a) Legal Risks |
| b) Social Risks |
| c) Moral Risks |
| d) Physical Risks |
| Q4.Non-Life Insurers must ensure that they do not insure the Assets, that are --. |
| a) Bought, Out of Public Money |
| b) Bought, Using the Bank-Loans |
| c) Bought, Out of Illegal Funding |
| d) Bought, By Mortgaging the Property |
| Q5.Describe a Tangible Product. |
| a) A Tangible Product refers to the Physical Objects, that cannot be Perceived by Touch. |
| b) A Tangible Product refers to the Physical Objects, that can be Directly Perceived by Touch. |
| c) A Tangible Product is One, that has In-Finite Value. |
| d) A Tangible Product is One, that has No Value. |
| Q6.Which of the following is not the correct reason? The insurer requires material information. |
| a) To decide about acceptance |
| b) To fix the rate of premium |
| c) To fix the sum insured |
| d) To fix terms and conditions of cover |
| Q7.Reserves for incurred but unreported claims come under the heading |
| a) Accounting reserves |
| b) Technical Reserves |
| c) Unexpired Premium |
| d) Asset Liability reserves |
| Q8.The contractual term for the premium is known as |
| a) Contribution |
| b) Consideration |
| c) Commitment |
| d) Consolidation |
| Q9.Which of the Following Statements, is/are True? I. Once a Claim is Registered in the System, a Reserve for the Same is Created in the Accounts of the Insurer. II. Once a Reserve-Amount is Created, this Amount is Freezed as the Upper-Limit, above which, the Claim cannot be paid. How-Ever, this Amount may be Revised Down-Wards, if the Actual Pay-Out Amount is Lower Than the Reserve-Amount. |
| a) Only Statement-I is True. |
| b) Only Statement-II is True. |
| c) Both: Statement-I and Statement-II, are True. |
| d) Both: Statement-I and Statement-II, are False. |
| Q10.For which of the following, full capital sum insured is not payable under personal Accident policy. |
| a) Permanent Total Disablement |
| b) Permanent Partial Disablement |
| c) Loss of two limbs |
| d) Loss of one limb and one eye |