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Category: IC92 ACTUARIAL ASPECTS – 12

IC92 ACTUARIAL ASPECTS – 12

Que. 1 : Q1) Which is the risk that a policy owner will withdraw fund that are locked in at a low rate to instead invest at a higher new money rate?

   1.  a) Free cover limit

   2.  b) Interest rate risks

   3.  c) Profit sharing formula

   4.  d) Disintermediation Risk

Que. 2 : Q2) What means an absolute amount of benefit which is guaranteed to become payable on maturity of the policy in accordance with the terms and conditions of the policy?

   1.  a) Revival period

   2.  b) Sum assured on death

   3.  c) Single premium products

   4.  d) Sum assured on maturity

Que. 3 : Q3) In which policy, Benefit is payment on death, if any, during the specified policy term, and on survival – on the date of maturity?

   1.  a) Pure Endowment

   2.  b) Double cover Endowment

   3.  c) Endowment Assurance

   4.  d) None of these

Que. 4 : Q4) The customer should choose a period of premium that covers a specified duration, say at least ______. Alternatively, he an choose an pay a lump sum amount with the application.

   1.  a) 2 years

   2.  b) 3 years

   3.  c) 4 years

   4.  d) 5 years

Que. 5 : Q5) What refers to the probability that a policyholder not pays the premium or withdraws from the policy fully or partially willingly before the maturity date?

   1.  a) Interest rate

   2.  b) Dependent risk

   3.  c) Withdrawal rate

   4.  d) Policy rate