IC27 HEALTH INSURANCE EXAM – 10

Q1.Which is the most critical step in data warehousing?
 

 Business goal setting

 

 Deciding requirements for business data warehouse

 

Collection of first-hand data

 

 Defining the scope of data collection

 

 Understanding of the available data

 

Q2.With regards to Insurable Interest, which of the below statement is correct?
 

 The person taking the insurance has no legally recognized relationship to the object of the insurance

 

A person has the legal right to ensure his health by taking a health insurance policy

 

 A person should not have a pecuniary interest in the asset he is going to get insured

 

The reason why employers buy health insurance plans for their employees is because it is mandatory

 

 The greatest liability of a person is his own health

 

Q3.Regulation no. __ of IRDAI Protection of policyholders interests regulations 2002 states that every insurer should have in place a grievance redressal system to address the complaints of the policyholders.
 

 5

 

 6

 

 7

 

 8

 

 9

 

Q4.Insurers have to provide sufficient information to prospects regarding claim processes. This rule is as per which act/regulation?
 

 Insurance act

 

 IRDA Act

 

 General Insurance Business (Nationalization) Act

 

 Contract Act

 

 Policy Holder Protection Regulation

 

Q5.A score of 3.9 was received by which of the following options in context to – ‘taking measures for post-sales dissonance of health insurance – Clarity of information’?
 

Health policy wordings are available to download from the company’s website

 

 Availability of broachers in vernacular language

 

Product coverage and exclusions mentioned in the health insurance proposal form

 

 Reconfirmation of health insurance premium to be charged

 

Coverage and exclusions displayed on the company’s website

 

Q6.The full form of FCR is ____.
 

 Final Call Receipt

 

 Free Call Resolution

 

 Fast Call Resolution

 

 First Call Resolution

 

 Factual Call Receipt

 

Q7.Which of these is also known as Income Protection Plan?
 

 Critical illness

 

 Life insurance

 

 Disability benefit

 

 Personal accident

 

 Indemnity health insurance

 

Q8.Which of the following is a suitable measure to be taken by a good data warehouse to avoid spelling errors in name, city name, etc.?
 

Appointment of proofreaders for the database

 

 Checking of data entry at two levels to remove errors

 

Development of high-end spell check software

 

Such fields can come in drop-down menus

 

Provision of a pre-defined list of names and accept only those values

 

Q9.What does the term ‘ Creating a Fraud database’ mean in context to fighting frauds in insurance? 1. This is a powerful tool at the claim filing stage 2. This database must have all information about frauds or suspicious transactions for all insurance companies 3. Such database gives information on fraud (consisting of customers, agents, doctors, etc)
 

 Only statement 2 is correct

 

 Only statement 3 is correct

 

 Statement 2 and 3 are correct, 1 is incorrect

 

 Statement 1 and 3 are correct, 2 is incorrect

 

 Statement 1 and 2 are correct, 3 is incorrect

 

Q10.What percentage of the Indian population is lead towards poverty due to out-of-pocket medical expenses every year?
 

 Approx 2.20%

 

 Approx 1.54 %

 

 Approx 4.25%

 

 Approx 5.80 %

 

 Approx 10.50 %

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