Q 1. What means the period of five consecutive years from the date of commencement of the policy, during which period the proceeds of the discontinued policies cannot be paid by the insurer to the policyholder?
Q 2. Life Insurance in its modern form came to India from England in the year ___________.
Q 3. Reinsurance is usually governed by a treaty between the insurance company and the reinsurer and the treaty is a legal contract and governed by contract law it relates to which risk?
Q 4. Which of the following is not a characteristic of riders?
Q 5. Which of the following is not a type of group insurance contracts offered by insurers?
Q 6. Which of the following is not a method of payment of bonus?
Q 7. Which implies one contract covering a group of live and terms on which insurance cover is granted depend upon the characteristics of the group as a whole?
Q 8. What is required because a major change will result in significant systems development, which will take time and there are benefits in terms of saving time and cost with such things as training administration and sales staff?
Q 9. Poor health raises the rates for life insurance because______________.
Q 10. Q13) Which expenses incurred to procure business would be very high and examples of such expenses are transport expenses, media expenses, salary and other expenses for underwriting?
Q 11. Product design is required to fill the gap or inadequacy in the existing product range. Say whether True or False.
Q 12. Which of the following is not an example of an 'Alterations'?
Q 13. Which means the segregated fund/policy account of the insurer that is set aside and is constituted by the fund value/policy account value, as applicable, of all the discontinued policies determined in accordance with this regulation?
Q 14. Which of the following have benefits which increase in value with respect to a inflation index or a constant inflation value?
Q 15. Which is done to give weights to own experience and own estimation of future conditions to derive mortality or morbidity assumption?
Q 16. Every insurer would have a predetermined set of ___________ scales which are paid to agents and other intermediaries.
Q 17. The sensory appeal of a product decides its _________ e.g. a colourful vase with a beautiful shape is of greater aesthetic utility compared to a black vase.
Q 18. _________ involves calculation of 'Actual vs Expected' and has main objective of deriving assumptions apart form others like monitoring trends and performance.
Q 19. The creation of an image of trust and good market stand ing by the insurer depends upon which of the following factors?
Q 20. What refers to earning less or more return then expected while pricing the product and this could lead to huge losses if product is interest rate sensitive
Q 21. __________ is a promise given by the insurer that grants protection to the insured against a specific loss under certain conditions.
Q 22. In single premium products, if the age is less than 45 years, Highest of _______ of the single premium of minimum guaranteed sum assured on maturity.
