Licentiate Exam Questions/Mock by iexamworld

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Licentiate exam questions by iexamworld

Q1.The National health service of UK covers ___ (i) emergency services (ii) accidents (iii) dentistry
 Insurance payments
 Only (ii) & (iii)
 Only (i) & (iii)
 Neither (a) nor (b)
 custom duties


Q2.Which of the following is true regarding insurable risk?
 It is a risk for which an insurance policy can be purchased.
 It is a loss that is intentionally caused by the insured.
 It is one where eventuality for loss or damage is not definable.
 Tax planning
 Financial planning


Q3.____is a reinsurance company.
 Care Health Insurance Company Limited
 ManipalCigna Insurance Company of India
 Tata AIA Insurance Company
General Insurance Company of India
 Max Insurance Company of India


Q4.In a health protection plan, premium payment ceases at the age of _ but coverage continues till _for HCB and MSB.
 55, 65
 60, 70
 65, 75
 Death Benefit
 Only (a) & (c)


Q5.Which of the following roles investment in life insurance can play? i. asset appreciation ii. asset depreciation iii. asset protection
 Only (i) & (ii)
 Only (ii) & (iii)
 Only (i) & (iii)
 All (i), (ii) & (iii)
 Only (iii)


Q6.As per Section 113(4) of the Insurance Act 1938, the minimum paid-up value of a policy inclusive of the attached bonus should be __
 Rs. 50
 Rs. 100
 Rs. 500
 Rs. 1000
 Rs. 10000


Q 7.What should be the minimum lock-in period to avail the benefits of section 80C in ULIP plans?
 3 years
 5 years
 7 years
 10 years
 12 years


Q8.__ is the most comprehensive in calculating the amount of life insurance needed by an individual.
 Capital needs analysis
 Capital retention tool
 Capital protection tool
 Capital production tool
 None of the above


Q9.Key areas of financial planning includes ___. i. Tax planning ii. Investment planning iii. Estate planning iv. Retirement planning
 Only (i), (ii) & (iii)
 Only (i), (ii) & (iv)
 Only (ii), (iii) & (iv)
 All (i), (ii), (iii) & (iv)
 Only (iii) & (iv)


Q10.___ was the first country to implement a regulation specific to Takaful.

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Licentiate Exam Questions
Licentiate Exam Questions