IC72 Mock Test Sample 3
IC72 Motor Insurance highlights data-driven decision-making, legal compliance, and claim management. Concepts like data mining and analytics help insurers identify patterns and improve underwriting. Regulatory requirements include timely reporting to authorities and structured data submission to TAC. Technical checks like hydro tests ensure vehicle safety. Principles such as subrogation reduce insurer losses, while grievance redressal ensures fair customer handling. Motor Vehicles Act provisions govern compensation, permits, and licensing. Technologies like V2V improve road safety. Add-on covers enhance policy benefits, and factors like age determine compensation in fatal cases. Overall, the focus is on risk assessment, compliance, and efficient claim settlement.
1. ______ is the discovery of meaningful patterns in data.
a) Business intelligence
b) Data mining
c) Analytics
d) Analysis
2. Insurer must inform Registering Authority within ____ days.
a) 7
b) 10
c) 15
d) 30
3. Purpose of HYDRO TESTS?
a) Pressure capacity
b) Hardening test
c) Color durability
d) Thickness
4. Proposal forms ask claim history for last ____ years.
a) 2–4
b) 3–5
c) 4–6
d) 5–7
5. Blood alcohol limit (per se)?
a) 0.008
b) 0.08
c) 0.8
d) 8
6. Subrogation helps insurers to?
a) Reduce claim cost
b) Avoid claims
c) Ensure disclosure
d) Value risk
7. Grievance mechanism includes?
a) Cost effective
b) Efficient
c) Consumer friendly
d) All of these
8. Form for tourist vehicle?
a) Form 45
b) Form 48
c) Form 51
d) Form PCA
9. Underwriting data includes?
a) Vehicle condition
b) Vehicle age
c) Proposal details
d) All of these
10. TAC data submission frequency?
a) Monthly
b) Quarterly
c) Half yearly
d) Yearly
11. If insured does not contest claim?
a) Criminal case
b) No-fault claim
c) Supreme Court
d) Surrender claim
12. Validity of Motor Cover Note?
a) 7 days
b) 15 days
c) 30 days
d) 45 days
13. Role of Insurance Ombudsman?
a) Legal disputes
b) Mediator
c) Issue policies
d) Review rates
14. No-fault petition filing time?
a) 15 days
b) 30 days
c) 60 days
d) 90 days
15. Purpose of V2V technology?
a) Vehicle communication
b) Road connectivity
c) Public info
d) Entertainment
16. Temporary permit issued for?
a) Special occasions
b) Heavy vehicles
c) Permanent use
d) Expired permits
17. Penalty for rash driving?
a) Jail
b) Fine
c) License revoke
d) Training
18. Depreciation waiver cover?
a) Return to invoice
b) NCB protection
c) Depreciation reimbursement
d) Glass repair
19. Subrogation means?
a) Rights transfer to insurer
b) Rights to insurer
c) Waiver
d) Payment
20. Multiplier based on?
a) Claimant age
b) Deceased age
c) Dependents
d) Accident type
