Que. 1 : Q1) Which of the following step is done finally to calculate Premium?
1. a) Find out the tabular column
2. b) Multiply by SA
3. c) Make Adjustments for mode of payment of premium
4. d) Deduct adjustments for large SA
Que. 2 : Q2) Insurance Ombudsman can settle the dispute where amount involved is less than________lakh.
1. a) 10 lakh
2. b) 15 lakhs
3. c) 20 lakhs
4. d) 25 lakhs
Que. 3 : Q3) A clause or condition that is added on to a basic policy providing an additional beneﬁt at the choice of the proposer is known as __________.
1. a) Rider
2. b) Forfeiture
3. c) Top up premium
4. d) Life cover
Que. 4 : Q4) In case of a policy where the premium payment is annual how many days will be allowed as grace period for premium payment after the premium due date?
1. a) 15 days
2. b) There is no grace period
3. c) 30 days
4. d) Till the next premium due date
Que. 5 : Q5) The ‘Schedule’ of a Policy Document does NOT contain which of the following date ?
1. a) date of proposal
2. b) commencement date of the insurance
3. c) date of last payment of premium
4. d) date of birth of the nominee