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. |
| Tunisia |
| Libya |
| Malaysia |
| Sudan |
| Algeria |