Que. 1 : Q1)What means the age at which the receipt of pension starts in an insurance-cum-pension plan?
1. a) Nomination
2. b) Expiry date
3. c) Vesting age
4. d) None of these
Que. 2 : Q2)An insurance company sells 2000 policies and it expects 5 claims. The total amount of claims is Rs.3,50,000/-. If the period of cover is one year and if the company wants its total income to be equal to the total outgo, What premium should the company charge from each of those 1000 policyholders?
1. a) Rs.175
2. b) Rs.250
3. c) Rs.375
4. d) Rs.500
Que. 3 : Q3)In which policy, Benefit payment on death only; amount of death benefit gets increased in a specified order according to year of death?
1. a) Temporary Term Assurance
2. b) Pure Term Assurance
3. c) Term Assurance with Return of Premium
4. d) Increasing Term Assurance
Que. 4 : Q4)The fund based group non-linked products may levy a surrender charge not exceeding 0.05 percent of the fund, with a maximum of Rs.5,00,000, if the policy is surrendered within the _________ renewal of the policy.
1. a) 1st
2. b) 2nd
3. c) 3rd
4. d) 4th
Que. 5 : Q5)Which method involves a sharing of all aspects of the original contract and the insurer will provide the reinsurance company with the premium rates it is using for the particular class of business it wishes to reinsure?
1. a) Level risk premium reinsurance
2. b) Original terms reinsurance
3. c) Risk premium reinsurance
4. d) Excess of loss reinsurance