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Category: IC02 PRACTICE OF LIFE INSURANCE – 09

IC02 PRACTICE OF LIFE INSURANCE – 09

Que. 1 : Q1) Which part of the policy document makes the proposal and declaration signed by the policyholder part of the contract?

   1.  a) Schedule

   2.  b) Conditions

   3.  c) Operative Clause

   4.  d) Preamble

Que. 2 : Q2) A person invested in life annuity and paid a one time premium. The insurance company shall pay to him periodic payments after some years. What is this process called ?

   1.  a) Commuting

   2.  b) Annutize

   3.  c) Vesting

   4.  d) Moneyback

Que. 3 : Q3) ULIP’s are market-linked insurance plans and combine the features of_______________.

   1.  a) Investment and protection

   2.  b) Annuity and protection

   3.  c) Annuity and savings

   4.  d) Investment and savings

Que. 4 : Q4) The loan amount granted against a life insurance policy is generally __________ of its surrender value

   1.  a) 50%

   2.  b) 60%

   3.  c) 70%

   4.  d) 90%

Que. 5 : Q5) Which of the following term does not match the other four ?

   1.  a) Early claims

   2.  b) Non Early claims

   3.  c)  Claimant’s statement

   4.  d) Deed of assignment