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Category: IC92 ACTUARIAL ASPECTS – 05

IC92 ACTUARIAL ASPECTS – 05

Que. 1 : Q1) Who focus on protecting the interests of the insurance industry through market discipline and ethics and Insurance comapanies are a part of these meet at regular intervals to solve the common problems?

   1.  a) Policyholders

   2.  b) Distributors

   3.  c) Insurer’s Associations

   4.  d) Consumer Forums

Que. 2 : Q2) Which is an impact on the sale of insurance products and the wider the network of distributors, the better is the market reach?

   1.  a) Marketing and advertising

   2.  b) Distribution network

   3.  c) Efficiency of administrative staff

   4.  d) Regulatory systems

Que. 3 : Q3) Which endowment contract provides a sum assured at the end of the fixed term, provided the policyholder is then alive and is particularly useful as a means of satisfying the investment need of the policyholder?

   1.  a) Endowment insurance

   2.  b) Pure endowments

   3.  c) Double endowment Insurance

   4.  d) Double cover endowment

Que. 4 : Q4) Which means the benefit, agreed at the inception of the contract, which is payable on death as specified in the policy document?

   1.  a) Death benefit

   2.  b) Discontinuance

   3.  c) Grace period

   4.  d) Discounted policy fund

Que. 5 : Q5) An insurer wants to sell 5-year temporary assurance products to lives aged 40, and he uses the above life table in respect of mortality experience. If we ignored all expenses of the insurer. Calculate Present value of Single premium for a Sum Assured of Rs. 1000?

   1.  a) 189.26

   2.  b) 193.10

   3.  c) 195.20

   4.  d) 199.36