IC88 Mock Test Sample 12
Marketing and insurance management focus on customer satisfaction, segmentation, branding, and relationship building. Market segmentation in insurance may be based on occupation, geography, or customer groups. Strong brands often become synonymous with their product categories. Marketing activities revolve around the seven Ps: product, price, place, promotion, people, process, and physical evidence. E-commerce has transformed traditional retail by removing geographical and time barriers. Relationship marketing strengthens loyalty through trust, consistency, and customer appreciation. Rural markets play an important role in India’s economy and are identified using population and occupation criteria. Insurance sales mainly depend on personal selling and customer trust.
1. In insurance, what is an example of market segmentation based on product?
a) Army personnel
b) Working ladies
c) Geography
d) Income levels
2. What happens to big brands in their categories?
a) They change marketing messages frequently
b) They become less valuable
c) They are repositioned for growth
d) They become generic to their category
3. Which factors does marketing activity typically focus on?
a) Three Ps
b) Four Ps
c) Six Ps
d) Seven Ps
4. What can be an obstacle to searching technical information?
a) Strong desire for technical information
b) Inability to handle non-technical data
c) Belief all technical information is correct
d) Lack of interest in technical data
5. Why is a restaurant chosen beyond just food quality?
a) Cost of meal
b) Location
c) Expectation of satisfying overall experience
d) Ambience only
6. Why may even skilled mechanics fail to make perfect decisions?
a) Electronic machines hinder them
b) Lack of skills
c) Unclear procedures
d) Their frame of mind affects performance
7. What challenge do e-commerce companies create for traditional retail?
a) Limited offers
b) Geographical constraints
c) Time restrictions
d) Disruption of traditional systems
8. How can relationship marketing build customer loyalty?
a) Making customers feel valued
b) Consistent interactions
c) Building trust
d) All of the above
9. Which state has the lowest rural population?
a) Kerala
b) Goa
c) Nagaland
d) Sikkim
10. Which term is not related to insurance?
a) Annuity
b) Coverage
c) Indemnity
d) Misuse alarm
11. According to IRDA, a rural area is where population-
a) Does not exceed 5000
b) Is less than 4000
c) Does not exceed 10,000
d) Is more than 5000
12. Which word refers to transportation and storage of goods until they reach customers?
a) Logistics
b) Distribution
c) Production
d) Marketing
13. Which criteria are used in identifying rural areas?
a) Population density
b) Agricultural occupation
c) Population size
d) All of the above
14. In insurance, sales are mostly done through-
a) Internet
b) Personal selling
c) E-commerce
d) Public relations
15. When ___ exists, documentation is not needed.
a) Credibility
b) Reliability
c) Responsiveness
d) Faith
16. What term describes customer dissatisfaction after purchase leading to re-evaluation?
a) Post purchase doubt
b) Cognitive dissonance
c) Evaluative process
d) Customer satisfaction
17. Rural workers employed for at least six months are called-
a) Working group
b) MGNREGA group
c) Main workers
d) Part-time workers
18. What was not specified in the IRDA code of conduct for agents?
a) Considering customer needs
b) Advising nominations
c) Agents can amend and customize plans
d) Assisting in claim settlement
19. While purchasing an aircraft, which factors may influence the decision?
a) Pilot training
b) Aircraft repair training
c) Recruiting experienced pilots
d) Both pilot and repair training
20. Marketing concepts suggest products are developed in response to-
a) Technological advancement
b) By-products
c) Profit maximization
d) All of the above
