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Category: IC02 PRACTICE OF LIFE INSURANCE – 10

IC02 PRACTICE OF LIFE INSURANCE – 10

Que. 1 : Q1) Mr. Suresh invests Rs 20 lakhs in corporate bonds. In which way will he get the returns ?

   1.  a) Dividends

   2.  b) Holidays in the company’s resorts

   3.  c) Annuity

   4.  d) Interest

Que. 2 : Q2) A term assurance plan having an unspecified tenure is known as _________.

   1.  a) Survival benefit policy

   2.  b) Life insurance policy

   3.  c) Whole life insurance policy

   4.  d) Pure endowment policy

Que. 3 : Q3) Find out which of the given statements is incorrect

   1.  a) Accounts department has to monitor cash flow from subordinate offices

   2.  b) Underwriting department has to assess risk and determine premium

   3.  c) Marketing department has to monitor performance of agents

   4.  d) Actuarial department is responsible for settling death claims

Que. 4 : Q4) A person aged 38 takes an Endowment Plan for 22 years with a Sum Assured of Rs 2 Lakhs. Mode of payment is Monthly. Tabular premium is Rs 49.5 per thousand. The company charges 5% extra on Tabular Premium for Monthly Mode and allows Rs 2 reduction in case Sum Assured is greater than Rs 50,000. Calculate the Monthly premium payable?

   1.  a) Rs 825

   2.  b) Rs 866

   3.  c) Rs 791

   4.  d) Rs 883

Que. 5 : Q5) Which of the following statement is True?

   1.  a) In case of early death claim Insurer generally carries out investigation

   2.  b) 5% over tabular premium is charged for ordinary monthly mode policy

   3.  c) In Absolute assignment the assignor loses all Rights, Title and Interest in the policy

   4.  d) All of the above