Menu Close

Category: IC02 PRACTICE OF LIFE INSURANCE – 16

IC02 PRACTICE OF LIFE INSURANCE – 16

Que. 1 : Q1) Which type of revival scheme is applicable if revival is done without evidence of good health ?

   1.  a) Special Revival Scheme

   2.  b) Loan-Cum-Revival Scheme

   3.  c) Installment Revival scheme

   4.  d) Ordinary Revival Scheme

Que. 2 : Q2) Who is an Annuitant?

   1.  a) The person who buys annuity

   2.  b) The person who guarantees the annuity

   3.  c) Ther person who sells the annuity

   4.  d) The person who advertises annuity

Que. 3 : Q3) After selling the policy an insurance company finds out one the policy holder has not furnished correct information related to his poor health condition at the time of taking the policy. This is a case of

   1.  a) Adverse Selection

   2.  b) Loading

   3.  c) Level Premium

   4.  d) None of the above

Que. 4 : Q4) Select the expanded form of OR as commonly used in life insurance

   1.  a) Oral Rehydration

   2.  b) Once Renewed

   3.  c) Ordinary Rates

   4.  d) Ordinary Renewal

Que. 5 : Q5) In what circumstances will the agency be terminated

   1.  a) Non-renewal of licence

   2.  b) Permanent Incapacity

   3.  c) Offering Rebate

   4.  d) All of the above