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Category: IC02 PRACTICE OF LIFE INSURANCE – 11

IC02 PRACTICE OF LIFE INSURANCE – 11

Que. 1 : Q1) If the policy holder dies after the due date of survival benefit claim but before the settlement of the claim the rights for that survival benefit would vest in

   1.  a) The Legal Heirs of the Policy Holder

   2.  b) Nominee under the policy

   3.  c) Appointee under the policy

   4.  d) The money will be retained by the Insurance Company

Que. 2 : Q2) Which of the following statements is True. Statement 1: the duration of cover for marine risks is for the entire voyage on a warehouse to warehouse basis. Statement 2: the duration of cover for war risks is restricted to the time when the goods are waterborne and not on land.

   1.  a) Statement 1 is true

   2.  b) Statement 2 is True

   3.  c) Both are true.

   4.  d) Both are false

Que. 3 : Q3) ___________is the event,_____________is the likely occurrence of the event and___________increases the chances of the happening of the event.

   1.  a) Peril, Risk, Hazard

   2.  b) Hazard , Peril , Risk

   3.  c) Risk, peril , Hazard

   4.  d) Peril, Hazard, Risk

Que. 4 : Q4) Which activity is performed by the specialist in the Head office of Insurance Company?

   1.  a) Development of Market agency force

   2.  b) Account Handling

   3.  c) Servicing the policy Holders

   4.  d) Actuarial Study

Que. 5 : Q5) Free cover limit is_____________.

   1.  a) The stipulated amount by the insurance company till which the medical checkup is not required

   2.  b) The stipulated amount till which the insurance cover is provided for free

   3.  c) The maximum amount till which the cover is provided by the insurance companies

   4.  d) The stipulated amount by the insurance company till which the medical checkup is essential