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Category: IC02 PRACTICE OF LIFE INSURANCE – 17

IC02 PRACTICE OF LIFE INSURANCE – 17

Que. 1 : Q1) What is the minimum age required to enter into an contract of insurance ?

   1.  a) 13 years

   2.  b) 18 years

   3.  c) 20 years

   4.  d) 21 years

Que. 2 : Q2) Which document serves as an evidence of the insurance contract between the insurance company and the policy holder ?

   1.  a) Execution Form

   2.  b) Proposal Form

   3.  c) Policy Document

   4.  d) Cover Note

Que. 3 : Q3) Which of the following cannot be a reason for denying an early claim settlement ?

   1.  a) Premium is due and it has not been paid

   2.  b) There is a strong evidence for suppression of information at the time of proposal

   3.  c) Multiple claimants are under a legal suit for claim

   4.  d) The agent who got the policy done is no longer with the company

Que. 4 : Q4) In a ULIP after how many policy completion years does the surrender penalty become Zero?

   1.  a) 3 years

   2.  b) 2 years

   3.  c) 5 years

   4.  d) 4 years

Que. 5 : Q5) The ‘Schedule’ of a Policy Document does NOT contain which of the following date ?

   1.  a) date of proposal

   2.  b) commencement date of the insurance

   3.  c) date of last payment of premium

   4.  d) date of birth of the nominee