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Category: IC02 PRACTICE OF LIFE INSURANCE – 03

IC02 PRACTICE OF LIFE INSURANCE – 03

Que. 1 : Q1) Which insurance plan gives cover only in the event of death during a specific term ?

   1.  a) Health Plan

   2.  b) Term Plan

   3.  c) Life insurance

   4.  d) Whole life assurance policy

Que. 2 : Q2) What is the excess in the life fund called as ?

   1.  a) Surplus

   2.  b) Value stock

   3.  c) Bonus

   4.  d) Actuarial profit

Que. 3 : Q3) _________ is not a way to pay insurance premiums.

   1.  a) Direct remittance

   2.  b) Cash

   3.  c) Cheques

   4.  d) Postal Order

Que. 4 : Q4) If tabular premium for plan term 5-35 is Rs 36.75, calculate premium amount for half yearly mode with sum assured of Rs 10 lakhs.

   1.  a) Rs. 18372

   2.  b) Rs. 18373

   3.  c) Rs. 18374

   4.  d) Rs. 18375

Que. 5 : Q5) Insurance companies use Diversification to protect themselves against_______________.

   1.  a) Concentration of risks

   2.  b) The law of large numbers

   3.  c) Parameter changes

   4.  d) Correlated risks