Que. 1 : Q1) Select the incorrect option –

   1.  a) An insurance broker represents the customers

   2.  b) An insurance surveyor is a part of the general insurance business

   3.  c) An insurance agent is appointed by the insurer

   4.  d) An insurance agent can conduct only life or only nonlife insurance business

Que. 2 : Q2) What is the amount by which assets must exceed liabilities called?

   1.  a) Minimum balance

   2.  b) Net profit

   3.  c) Solvency margin

   4.  d) Turnover

Que. 3 : Q3) Which of these statement is INCORRECT ?

   1.  a) Insurance is profitable to the Government

   2.  b) Insurance reduces destitution

   3.  c) Insurance makes the business go broke

   4.  d) Insurance provides large funds to the Government for social causes

Que. 4 : Q4) Which of the following terms is dissimilar to the other four options? (Find the odd-man out?)

   1.  a) Jettison

   2.  b) Hit and Run

   3.  c) Sue and Labour

   4.  d) Salvage

Que. 5 : Q5) As per the IRDA code of conduct for insurance agents, which of these statements is TRUE ? A) The agent has to carry his ID card when he meets his clients B) Even though the agent is not filling the proposal form, he can be asked to show his identification. C) The prospect can ask to see the license of the agent

   1.  a) Only statement A is correct

   2.  b) Only statement B is correct

   3.  c) Only statement C is correct

   4.  d) Only statement A and C are correct