Menu Close

Category: IC92 ACTUARIAL ASPECTS – 15

IC92 ACTUARIAL ASPECTS – 15

Que. 1 : Q1) Mr.Y Buys an Endowment Assurance contract with profits for a sum assured of Rs.2,00,000 policy term is of 20 years. He dies in the 6th policy year (after payment of 6 annual premiums) . Insurer’s bonus declarations were(for this contract) per 1000 Sum Assured. 1st policy year:40 2nd – 45 3rd – 40 4th – 50 5th – 55 6th – 60 Calculate the Benefit payable on death?

   1.  a) Rs.1,29,000

   2.  b) Rs.2,00,000

   3.  c) Rs.2,58,000

   4.  d) Rs.3,58,000

Que. 2 : Q2) In a voluntary plan, once they have satisfied this probationary period, they must join the scheme within minimum stipulated period say _______ or otherwise have to provide some evidence of insurability.

   1.  a) 15 days

   2.  b) 30 days

   3.  c) 45 days

   4.  d) 60 days

Que. 3 : Q3) Which of the following is correct?

   1.  a) Price = Benefit(attached to the product) – Expenses(to be incurred for sale and service) + Profit margin

   2.  b) Price = Benefit(attached to the product) + Expenses(to be incurred for sale and service) -Profit margin

   3.  c) Price = Benefit(attached to the product) + Expenses(to be incurred for sale and service) + Profit margin

   4.  d) Price = Benefit(attached to the product) – Expenses(to be incurred for sale and service) – Profit margin

Que. 4 : Q4) What refers to the process of analyzing the past expenses of the company to fit the desired purpose and is usually done for different purposes such as pricing, asset share, estimating overall profits?

   1.  a) Expense rate

   2.  b) Expense analysis

   3.  c) Expense inflation

   4.  d) None of these

Que. 5 : Q5) Rate of Interest determination varies with the type of product selected. Say whether True or False.

   1.  a) True

   2.  b) False

   3.  

   4.