IC38 - HEALTH INSURANCE AGENT EXAM - 03

Q1.Why do insurers arrange for survey and inspection of the property before acceptance of a risk?
   a) To assess the risk for rating purposes
   b) To find out how the insured purchased the property
   c) To find out whether other insurers have also inspected the property
  d) To find out whether neighboring property also can be insured
 
Q2.Many Proposals are Underwritten and Accepted for Insurance, without calling for a Medical Examination. This Form of Underwriting is referred to as --.
   a) Healthy Underwriting
   b) Non-Medical Underwriting
   c) Non-Adverse Underwriting
   d) General Underwriting
 
Q3.Identify the True Statement: I. Morbidity increases due to Various Adverse Factors, such as Being Over-Weight or Under- Weight, Personal History of Certain Past and Present Diseases or Ailments. II. Morbidity decreases due to Certain Favourable Factors, like Lower Age, a Healthy Life-Style, etc.
   a) Only Statement-I is True.
   b) Only Statement-II is True.
   c) Both: Statement-I and Statement-II, are True.
   d) Both: Statement-I and Statement-II, are False.
 
Q4.Third-Party Administrators (T.P.A.s) are Regulated, by Which of the Following Bodies?
   a) Life Insurance Council and General Insurance Council, Jointly.
   b) Insurance Regulatory and Development Authority of India (I.R.D.A.I.)
   c) Insurance Brokers Association of India
   d) Finance Ministry
 
Q5.Identify the True Statement: I. Critical Illness Policies are Usually Available for the Persons in the Age-Group of 21 Years to 65 Years. II. The Sum-Insured, offered under the Critical Illness Policies is Quite Low.
   a) Only Statement-I is True.
   b) Only Statement-II is True.
   c) Both: Statement-I and Statement-II, are True.
   d) Both: Statement-I and Statement-II, are False.
 
Q6.When is it essential for insurable interest to be present in the case of life insurance?
   a) At the time of taking out insurance
   b) At the time of claim
  c) Insurable interest is not required in the case of life insurance
   d) Either at time of policy purchase or at the time of claim
 
Q7.The ____has framed the Rules, known as, Redressal of Public Grievances Rules, 1998.
   a) Insurance Regulatory and Development Authority (I.R.D.A.)
   b) Non-Banking Finance Company (N.B.F.C.)
   c) Securities and Exchange Board of India (S.E.B.I.)
   d) Central Government
 
Q8. Claim under the critical illness policy is payable if during the policy period the Insured is found to have contracted a critical illness and survives such critical illness for at least __ days from the date of its discovery.
   a) 15 days
   b) 30 days
   c) 45 days
   d) 60 days
 
Q 9.Which of the below is covered under a money insurance policy?
   a) Shortage due to error or omission
  b) Loss of cash from one premise due to burglary
   c) Loss of money that has been entrusted to other than authorized person
   d) Riot strike and terrorism
 
Q10.Insurance brokers are licensed by:
   a) Insurance Regulatory and; Development Authority
   b) Reserve Bank of India
   c) Security Exchange Board of India
   d) Government of India

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