MCQOPTIONS
Saved Bookmarks
MCQOPTIONS
This section includes 268 Mcqs, each offering curated multiple-choice questions to sharpen your Uncategorized topics knowledge and support exam preparation. Choose a topic below to get started.
| 151. |
What Does the Term: Premium , Denote, in Relation to an Insurance Policy? |
| A. | Profit, Earned by the Insurer. |
| B. | Price, Paid by an Insured, for Purchasing the Policy. |
| C. | Margins of an Insurer, on a Policy. |
| D. | Expenses, incurred by an Insurer, on a Policy. |
| Answer» C. Margins of an Insurer, on a Policy. | |
| 152. |
Identify a Product, that can be categorised under Transactional-Products. |
| A. | Bank Deposits |
| B. | Gold |
| C. | Lockers |
| D. | Life Assurance |
| Answer» B. Gold | |
| 153. |
Pick an Attribute, that can be associated with Life Assurance Policies. |
| A. | In-Separability |
| B. | Heterogeneity |
| C. | In-Tangibility |
| D. | Superlative Returns |
| Answer» D. Superlative Returns | |
| 154. |
Which One of the Following, has the Supervisory Jurisdiction over State Commission? |
| A. | District Forum |
| B. | National Commission |
| C. | Ombudsman |
| D. | None of the Above. |
| Answer» C. Ombudsman | |
| 155. |
Select the Option, that is True, with Regard to Term Assurance Plans. |
| A. | Term Assurance Plans come with Life-Long Renewability Option. |
| B. | All Term Assurance Plans come with a Built- In Disability-Rider. |
| C. | Term Assurance Plans can be bought as a Stand-Alone Policy, as well as, a Rider with Another Policy. |
| D. | There is No Provision in Term Assurance Plans, to convert it into a Whole-Life Assurance Plan. |
| Answer» D. There is No Provision in Term Assurance Plans, to convert it into a Whole-Life Assurance Plan. | |
| 156. |
Mortgage-Redemption-Insurance (M.R.I.) is an Example of --. |
| A. | Decreasing, Term Assurance |
| B. | Increasing, Term Assurance |
| C. | Term Assurance, With Return of Premium(s) |
| D. | Term Assurance, With Fixed Returns |
| Answer» B. Increasing, Term Assurance | |
| 157. |
Identify the Option, that can be treated as a Valid Contract. |
| A. | Mr. Ramesh buys a Property, from His Friend, for a Throw- Away Price. |
| B. | Mr. Ramesh enters into a Contract, when, He is Not in a Sound State of Mind. |
| C. | Mr. Ramesh bribes an Official, to get into a Contract. |
| D. | Mr. Ramesh provides False Information, to get Mr. Mahesh, to sign a Contract. |
| Answer» B. Mr. Ramesh enters into a Contract, when, He is Not in a Sound State of Mind. | |
| 158. |
Why, Mortgage-Redemption-Insurance (M.R.I.) referred to as 'Decreasing, Term Assurance'? |
| A. | Cover remains Constant throughout the Policy- Period. |
| B. | Cover decreases along with the Policy-Term. |
| C. | Cover increases along with the Policy-Term. |
| D. | Premium increases with the Policy-Term. |
| Answer» C. Cover increases along with the Policy-Term. | |
| 159. |
Describe the Purpose of Nomination. |
| A. | To Transfer the Rights of the Policy. |
| B. | To Appoint a Person, to Receive the Policy- Monies, in the Event of the Life-Assured's Death. |
| C. | To Surrender the Policy. |
| D. | To Create an Estate. |
| Answer» C. To Surrender the Policy. | |
| 160. |
Isolate the Valid Combination: Type of Age-Proofs: I: Standard II: Non-Standard Age-Proofs: a: Pass-Port b: Horoscope c: Panchayat Certificate |
| A. | I-b |
| B. | I-c |
| C. | II-a |
| D. | I-a |
| Answer» E. | |
| 161. |
Mortgage-Redemption-Insurance (M.R.I.) provides --- Protection, for Home-Loan Borrowers. |
| A. | Social |
| B. | Financial |
| C. | Physical |
| D. | Tangible |
| Answer» C. Physical | |
| 162. |
Describe the Purpose of Assignment. |
| A. | To Transfer the Rights of the Policy. |
| B. | To Appoint a Person, to Receive the Policy- Monies, in the Event of the Life-Assured's Death. |
| C. | To Surrender the Policy. |
| D. | To Create an Estate. |
| Answer» B. To Appoint a Person, to Receive the Policy- Monies, in the Event of the Life-Assured's Death. | |
| 163. |
Which One of the Following, is Not a Limitation of Traditional Life Assurance Products? Choose the Most Appropriate Option. |
| A. | Difficult to Ascertain the Surrender-Values, At Any Given Point of Time. |
| B. | In-Sufficient Coverage. |
| C. | Cash-Value-Component, Not Well-Defined. |
| D. | Limited Rate-of-Return. |
| Answer» C. Cash-Value-Component, Not Well-Defined. | |
| 164. |
Non-Traditional Life Assurance Products satisfy a Certain Motive of Many Investors. Select the Most Appropriate Option. |
| A. | Guaranteed Benefits |
| B. | Fixed Returns |
| C. | Wealth-Accumulation |
| D. | Protection of Capital |
| Answer» D. Protection of Capital | |
| 165. |
What Does, Un-Bundling of Life Assurance Products, refers to? |
| A. | Correlation of Life Assurance Products with Bonds. |
| B. | Correlation of Life Assurance Products with Equities. |
| C. | Amalgamation of Protection-Element and Savings-Element. |
| D. | Separation of the Protection-Element and Savings-Element. |
| Answer» E. | |
| 166. |
Identify a Limitation of Traditional Life Assurance Products. |
| A. | High Yields. |
| B. | Clear and Visible Method of arriving at Surrender-Value. |
| C. | Well-Defined: Cash- Value Component and Savings-Value Component. |
| D. | Rate-of-Return is Not Easy to ascertain. |
| Answer» E. | |
| 167. |
From the Following Options, Select the One, that is Not a Factor, in Determining the Life Assurance Premium. |
| A. | Mortality |
| B. | Rebate |
| C. | Reserves |
| D. | Management-Expenses |
| Answer» C. Reserves | |
| 168. |
Which Element of a Valid Contract, relates to Insurance-Premium? |
| A. | Offer and Acceptance |
| B. | Capacity of Parties-to- Contract |
| C. | Free Consent |
| D. | Consideration |
| Answer» E. | |
| 169. |
Select the Loss, covered under Key-Man Insurance. |
| A. | Property-Theft |
| B. | Losses, Related to the Extended Period, when a Key-Person is Unable to Work. |
| C. | Losses, Caused Due to Errors and Omissions. |
| D. | General Liability |
| Answer» C. Losses, Caused Due to Errors and Omissions. | |
| 170. |
What is the Tax-Treatment offered under Key-Man Insurance? |
| A. | Policy-Returns are Tax- Exempt. |
| B. | Premiums are Treated as Business-Expense, and are Tax-Exempt. |
| C. | Premiums are Taxable. |
| D. | Policy-Returns are Heavily Taxable |
| Answer» C. Premiums are Taxable. | |
| 171. |
Identify the Benefits of taking-out a Key-Man Insurance Policy. |
| A. | Off-Set Business Start- Up Costs. |
| B. | Off-Set the Business- Continuity-Costs. |
| C. | Off-Set the Business- Recovery-Costs. |
| D. | Promote the Worker- Harmony. |
| Answer» C. Off-Set the Business- Recovery-Costs. | |
| 172. |
Identify the Option, that can be termed as Policy- Withdrawal. |
| A. | Surrender of the Policy, in Return for Acquired Surrender-Value. |
| B. | Dis-Continuation of Premium-Payment by the Policy-Holder. |
| C. | Policy Up-Grade. |
| D. | Policy Down-Grade. |
| Answer» B. Dis-Continuation of Premium-Payment by the Policy-Holder. | |
| 173. |
If a Customer is aggrieved by an Order, made by a State Commission, then, Where can, He or She appeal, against such Order? |
| A. | District Forum |
| B. | National Commission |
| C. | Ombudsman |
| D. | No Appeal can be made. |
| Answer» C. Ombudsman | |
| 174. |
Categorise Mortgage-Redemption-Insurance, Under One of the Following Options. |
| A. | Increasing, Term Assurance |
| B. | Decreasing, Term Assurance |
| C. | Variable Life Assurance |
| D. | Universal Life Assurance |
| Answer» C. Variable Life Assurance | |
| 175. |
Money-Laundering is the Process of Bringing --- Money, into an Economy, by Hiding its --- Origin, so that, it appears to be Legally Acquired. |
| A. | Illegal, Illegal |
| B. | Legal, Legal |
| C. | Illegal, Legal |
| D. | Legal, Illegal |
| Answer» B. Legal, Legal | |
| 176. |
From the Following Options, Identify a Non-Traditional Life Assurance Product. |
| A. | Term Assurance |
| B. | Universal Life Assurance |
| C. | Whole Life Assurance |
| D. | Endowment Assurance |
| Answer» C. Whole Life Assurance | |
| 177. |
The Conversion-Option in a Term Assurance Plan, can be used to convert the Policy, into Which One of the Following Plans? |
| A. | Whole-Life Assurance |
| B. | Unit-Linked Insurance Plan (U.L.I.P.) |
| C. | Money-Back Assurance |
| D. | Mortgage-Redemption- Insurance (Decreasing, Term Assurance) |
| Answer» B. Unit-Linked Insurance Plan (U.L.I.P.) | |
| 178. |
From the Following Options, Identify a Traditional Life Assurance Product. |
| A. | Term Assurance |
| B. | Universal Life Assurance |
| C. | Variable Life Assurance |
| D. | Unit-Linked Insurance |
| Answer» B. Universal Life Assurance | |
| 179. |
Discover the Scenario, where-in, the Insurer may charge an Extra Premium, to the Insured. |
| A. | Insured is Able to Afford the Extra Charge. |
| B. | Insured is a Standard Risk. |
| C. | Insured is a Sub- Standard Risk. |
| D. | Insured has purchased Other Insurance. |
| Answer» D. Insured has purchased Other Insurance. | |
| 180. |
Which One of the Following Documents, is not accepted as a Standard Age-Proof Document? |
| A. | School-Leaving Certificate |
| B. | Pass-Port |
| C. | Horoscope |
| D. | Employer's Certificate |
| Answer» D. Employer's Certificate | |
| 181. |
Suggest a Class of Insurance, that will provide the Protection against Loss of Goodwill. |
| A. | Life Assurance |
| B. | Property Insurance |
| C. | Liability Insurance |
| D. | Personal Insurance |
| Answer» D. Personal Insurance | |
| 182. |
Name the Term, used to describe "With-Profits" Policies. |
| A. | Interest-Paying Policies |
| B. | Participating Policies |
| C. | Dividend Policies |
| D. | Bonus-Sharing Policies |
| Answer» C. Dividend Policies | |
| 183. |
A --- is a Demand, that, the Insurer should Make Good the Promise, Specified in the Contract. |
| A. | Claim |
| B. | Repudiation |
| C. | Fore-Closure |
| D. | Grievance |
| Answer» B. Repudiation | |
| 184. |
Select the Factor, that is Linked to the Sum-Assured under a Key-Man Insurance Policy. |
| A. | Key-Man's Income |
| B. | Business-Profitability |
| C. | Business-History |
| D. | Inflation-Index |
| Answer» C. Business-History | |
| 185. |
Identify the Stage of Life, when an Individual will appreciate His or Her Long-Term Savings, the Most. |
| A. | Childhood |
| B. | Just Married |
| C. | Teen Age |
| D. | Post-Retirement |
| Answer» E. | |
| 186. |
What will be Looked At, in order to determine the Sum-Assured, under Key-Man Insurance? |
| A. | Key-Man's Current Financial Statements. |
| B. | Key-Man's Past Financial Statements. |
| C. | Audited Financial Statements of the Business and Income- Tax (I.T.) Returns. |
| D. | Income-Tax (I.T.) Returns of the Key-Man. |
| Answer» D. Income-Tax (I.T.) Returns of the Key-Man. | |
| 187. |
Which One of the Following Claims, can be Payable, Only to the Assignee or Nominee? |
| A. | Death-Claim |
| B. | Maturity-Claim |
| C. | Survival-Benefit |
| D. | Surrender-Value |
| Answer» B. Maturity-Claim | |
| 188. |
If an Insurance Company accepts a Risk, with a Lien on Sum-Assured, then What Does this imply? |
| A. | Lien implies that, if the Life-Assured Dies from a Specified Cause, Within a Given Period, Only a Decreased Amount of Death-Benefit may be Payable. |
| B. | Lien implies that, the Risk is Being Accepted, by the Company, for a Limited Period. |
| C. | Lien implies that, the Insurance Company is Accepting the Risk, at Lower Rate of Premium, as compared to the Tabular-Rate. |
| D. | Lien implies that, the Insurance-Proposal is Postponed, till a Specified Period. |
| Answer» B. Lien implies that, the Risk is Being Accepted, by the Company, for a Limited Period. | |
| 189. |
Identify the Feature, that will be checked, in a Medical Examiner's Report. |
| A. | Emotional Behaviour of the Proposer. |
| B. | Height, Weight, and Blood-Pressure. |
| C. | Social Status. |
| D. | Truthfulness. |
| Answer» C. Social Status. | |
| 190. |
Performing an Analysis of Current Income-Flow and Expenditure-Flow, is termed as --. |
| A. | Net-Worth Analysis |
| B. | Budgeting |
| C. | Personal Financial Planning |
| D. | Sensitivity-Analysis |
| Answer» C. Personal Financial Planning | |
| 191. |
Mr. Ramesh fudges His Company Balance-Sheet, Before Selling-Out the Company. Categorise His Action into One of the Following Options. |
| A. | Mistake |
| B. | Coercion |
| C. | Mis-Representation |
| D. | Fraud |
| Answer» E. | |
| 192. |
--- need to be mentioned in the Agent's Report. Choose the Most Appropriate Option. |
| A. | Matters of Health, Habits and Occupation, Income and Family Details |
| B. | Matters, Related to the Heart |
| C. | Matters, Related to Current Affairs |
| D. | Matters, Related to Personal Ambitions |
| Answer» B. Matters, Related to the Heart | |
| 193. |
Suggest a Non-Traditional Life Assurance Product. |
| A. | Term Assurance |
| B. | Variable Life Assurance |
| C. | Whole Life Assurance |
| D. | Endowment Assurance |
| Answer» C. Whole Life Assurance | |
| 194. |
Look at the Following Scenarios, and Select the Ones, that need to be flagged under an Anti-Money- Laundering (A.M.L.) Programme.I: A Customer cancels a Transaction, and requests to do a Second Transaction for Less Amount, in order to avoid providing His or Her Identity-Proof.II: A Customer requests an Un-Usually High Dollar- Transaction, and cannot explain the Reason for the Transaction or the Source of the Cash.III: A Customer appears Nervous and asks Un-Usual Questions about Your Record-Keeping.IV: A Customer tries to bribe a Teller. |
| A. | I, Only. |
| B. | II, Only. |
| C. | III, Only. |
| D. | I, II, III, and IV. |
| Answer» E. | |
| 195. |
If Insurance Company makes Periodical Payments, to the Insured, at Specified Intervals, During the Term of the Policy, then, these Payments are being made as per --. |
| A. | Survival-Benefit Payments |
| B. | Surrender-Value |
| C. | Rider-Benefit |
| D. | Conditional Assignment |
| Answer» B. Surrender-Value | |
| 196. |
Which One of the Following Documents, is an Additional Document, required to be submitted for Claim, in Case of Accidental Death, as compared to Natural Death? |
| A. | Certificate of Burial or Cremation |
| B. | Treating Physician s Certificate |
| C. | Post-Mortem Report |
| D. | Employer s Certificate |
| Answer» D. Employer s Certificate | |
| 197. |
Name the Two Policy-Features, on which, Rebates on Premium can be offered by the Insurer. |
| A. | Policy-Plan and Risk- Cover |
| B. | Policy-Plan and Mode of Premiums |
| C. | Sum-Assured and Mode of Premiums |
| D. | Sum-Assured and Policy- Plan |
| Answer» D. Sum-Assured and Policy- Plan | |
| 198. |
Who among the Following, is Not included in the Definition of 'Consumer', as per Consumer Protection (Amendment) Act, 2002? |
| A. | Any Person, who buys Any Goods, for a consideration; and includes Any User of such Goods. |
| B. | Any Person, who hires or avails of Any Services, for a Consideration. |
| C. | Any Person, who avails Any Service; and is also the Beneficiary of that Service. |
| D. | A Person, who obtains the Goods, for Re-Sale or for Any Commercial Purpose. |
| Answer» E. | |
| 199. |
Mr. Rajan earns Rupees 1,20,000/-, a Year, and spends Rupees 24,000/-, on Him-Self. Suppose the Rate of Interest is 8% (expressed as 0.08). Calculate the Human Life Value (H.L.V.), in this Case. |
| A. | Rupees 12 Lakhs. |
| B. | Rupees 13 Lakhs. |
| C. | Rupees 14 Lakhs. |
| D. | Rupees 15 Lakhs. |
| Answer» B. Rupees 13 Lakhs. | |
| 200. |
When the Insurer promises to pay the Insured, a Specified Amount at the End of the Term, if the Insured survives the Plan s Entire Term, then the Claim will be known as --. |
| A. | Survival-Benefit Payment |
| B. | Surrender of Policy |
| C. | Death-Claim |
| D. | Maturity-Claim |
| Answer» E. | |