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Category: IC92 ACTUARIAL ASPECTS – 13

IC92 ACTUARIAL ASPECTS – 13

Que. 1 : Q1) The main reason to offer _____________ is to quote a more accurate insurance premium for the group.

   1.  a) Retrospective Experience Rating

   2.  b) Prospective Experience Rating

   3.  c) Profit sharing formula

   4.  d) Free cover limit

Que. 2 : Q2) What is a contract under which level payments are made until the survival of the policyholder in return of a single advance payment and the first payment is made within the first year, without a deferred period?

   1.  a) Deferred annuity

   2.  b) Temporary annuities

   3.  c) Immediate annuities

   4.  d) Joint life annuity

Que. 3 : Q3) _______ is a contract under which level payments are made until the survival of the policyholder for a specified period in return of a single advance payment.

   1.  a) Joint life annuity

   2.  b) Deferred annuity

   3.  c) Temporary annuities

   4.  d) Immediate annuities

Que. 4 : Q4) A policy which terminated and is no longer in force due to non-payment of the due premium?

   1.  a) Insured

   2.  b) Lapsed policy

   3.  c) Maturity claim

   4.  d) Moral hazard

Que. 5 : Q5) What is referred to a Promise sold by an insurer to a policyholder either through an agent/broker or through his direct sales force which sets terms and conditions between the insurer and the policyholder with regard to payment of specified benefits on the happening of specified event?

   1.  a) Insurance Product

   2.  b) Product Design

   3.  c) Insurable Interest

   4.  d) None of the above