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Category: IC02 PRACTICE OF LIFE INSURANCE – 15

IC02 PRACTICE OF LIFE INSURANCE – 15

Que. 1 : Q1) In cases where a Life Insurance Agent collects the premium from the policy holder and remits it to the insurer’s office, he is acting as an agent of __________:

   1.  a) IRDA

   2.  b) the Insurance Company

   3.  c) the Policyholder

   4.  d) the Insurance broker

Que. 2 : Q2) To Whom is the insurance policy assigned as Financial Security when loans are taken from banks?

   1.  a) Nominees have no right over the policy

   2.  b) Bank

   3.  c) Policyholder

   4.  d) None of the above

Que. 3 : Q3) Which group Scheme is renewable every year?

   1.  a) Social Insurance Scheme

   2.  b) Group Leave Encashment Scheme

   3.  c) Group superannuation scheme

   4.  d) Group Term Insurance

Que. 4 : Q4) What is the content of the preamble of a life insurance policy?

   1.  a) The name and address of the insurance company.

   2.  b) The intention of the insurer and the insured in brief and in general terms.

   3.  c) The rights and responsibilities of the insured and the insurer under the insurance contract.

   4.  d) The conditions to be followed and privileges of the insured for enjoying the insurance coverage.

Que. 5 : Q5) Which of the following is the most important additional requirement for processing Early death claims?

   1.  a) Certified copy of Death registered in Muncipality or Local authority

   2.  b) Proof of title of the claimant and statement from the latest medical report giging details of last illness ,previous history and treatment

   3.  c) Claimants statement giving details of death ,nature of last illness, burial or cremation details

   4.  d) All of the above