IC23 APPLICATIONS OF LIFE INSURANCE – 06

Q1.The full form of HDHP is ____.
 Highly Deductible Health policy
 High Deductible Health Plan
 Huge Deductible Health Plan
 Yield
 Returns

 

Q2.Unemployment is an example of ___
 Fundamental risk
 Particular risk
 Dynamic risk
 Static risk
 Personal risk

 

Q3.Which of the following is true regarding GPF?
1. The Government pays interest on GPF at a determined rate that varies from year to year.
2. GPF constitutes a part of the Consolidated Fund of India.
3. Advances and withdrawals can be made out of the GPF by an employee for specified purposes.
4. All are true
5. Only (a) and (b)

 

Q4.Arrange the below risk management process in a proper sequence (i) Assessing the risk (ii) Measuring the risk (iii) Developing strategies to manage the risk
 (iii), (ii), (i)
 (i), (ii), (iii)
 (ii), (i), (iii)
 (ii), (iii), (i)
 (i), (iii), (ii)

 

Q5.Identify the true statement among the following. (i) Income tax benefits are available under health protection plans. (ii) There is no cover ceasing age for domiciliary treatment benefits in health protection plans. (iii) Premium payment ceases at the age of 65 but coverage continues till 75 for HCB and MSB in health protection plans
 Only (i) & (ii)
 Only (ii) & (iii)
 Only (i) & (iii)
 Home Dependents Health Plan
 Human Deductible Health Plan

 

Q6.Which of the following deals with issues of portability or the changing over from one employer/one insurer to another without any loss to the insured person.
 HSA
 NHS
 HIPPA
 India
 Japan

 

Q7.A ____ is defined as the legal declaration of the intention of the testator, with respect to his property, which he desires to be carried into effect after his death.
 Goodwill
 Patent
 Copyright
 Both (a) & (c)
 Both (a) & (b)

 

Q8.What is the reason behind launching NPS-Lite by PFRDA?
 To extend the NPS coverage to economically advantaged sections
 To extend the NPS coverage to the weaker and economically disadvantaged sections.
To promote small savings during their productive life.
 Rule 89
 Rule 90

 

Q9.Who cannot buy medical expenses insurance?
 Individuals
 Families
 Accountholders of bank
 Groups like employees of an institution
 None of the above

 

Q10.Insurance generally works on ___ principles.
 one
 two
 three
 Developing a financial plan
 Monitoring the financial plan

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