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Category: IC01 PRINCIPLES OF INSURANCE – 06

IC01 PRINCIPLES OF INSURANCE – 06

Que. 1 : Q1) What happens if the original policy document is lost or destroyed ?

   1.  a) The policy is discontinued till the time a new application is made for policy documents

   2.  b) The policy becomes void if the original insurance policy document is lost or destroyed

   3.  c) The policy continues and an application can be made for a new policy document subject to certain conditions

   4.  d) Its upto the insurer to decide if the policy continues or not

Que. 2 : Q2) Mr. Ramesh works in the IT department of a private bank. His job is to check all systems and servers of the branch where he is placed. In this case the internal customers of Mr. Ramesh are_____________.

   1.  a) The Managing Director of the bank

   2.  b) The customers of the bank branch

   3.  c) The employees of the branch who are dependent on the systems

   4.  d) The fixed deposit holders of the bank branch

Que. 3 : Q3) People have a different mindset pertaining to insurance which poses a big challenge. Which of the below option (s) pose a challenge ?

   1.  a) The pleasures of today seem more interesting even if they are not essential

   2.  b) People have a tendency to leave everything to fate

   3.  c) The needs and wants of today take priority over the needs and wants of tomorrow

   4.  d) All of the above

Que. 4 : Q4) An ULIP can be an ideal investment for people who are looking for benefit(s) like_________________.

   1.  a) Capital Appreciation

   2.  b) Insurance Protection

   3.  c) Tax Benefits

   4.  d) All of the above

Que. 5 : Q5) In an Unit Linked Insurance Plan, the policy holder chooses the fund of his choice,_______________.

   1.  a) the policy holder is totally responsible for its growth

   2.  b) the insurance company is totally responsible for its growth

   3.  c) both the policy holder and insurance company are responsible for its growth

   4.  d) both the policy holder and insurance company are not responsible for its growth