MCQOPTIONS
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MCQOPTIONS
This section includes 851 Mcqs, each offering curated multiple-choice questions to sharpen your Life Insurance Corporation(LIC) knowledge and support exam preparation. Choose a topic below to get started.
| 251. |
Which is a death claim? |
| A. | arly claim |
| B. | on-early claim |
| C. | oth A & B |
| D. | one of the above |
| Answer» D. one of the above | |
| 252. |
Maturity claim is payable when _________ |
| A. | hen the insured survives the first 5 years |
| B. | hen the insured dies during policy term |
| C. | hen the insured is diagnosed with a critical illness |
| D. | hen the insured survives policy term |
| Answer» E. | |
| 253. |
Repudiation of death claim means – |
| A. | cceptance of full sum insured |
| B. | ccepting without any pre-condition |
| C. | ejection of a claim |
| D. | cceptance with health extra |
| Answer» D. cceptance with health extra | |
| 254. |
When a death claim is payable? |
| A. | f a policyholder dies after maturity of a policy |
| B. | f a policyholder dies during the term of policy |
| C. | f a policyholder dies after surrendering a policy |
| D. | f insured dies after Foreclosure of a policy |
| Answer» C. f a policyholder dies after surrendering a policy | |
| 255. |
In a Unit Linked plan what is the death claim payable? |
| A. | um insured |
| B. | um insured less survival benefits paid already |
| C. | um insured or fund value which is higher |
| D. | und value |
| Answer» D. und value | |
| 256. |
In a Unit Linked plan what is the maturity claim payable? |
| A. | um insured |
| B. | um insured less survival benefits paid already |
| C. | othing is payable |
| D. | und value |
| Answer» E. | |
| 257. |
On payment of a rider benefit, what happens to a policy contract? |
| A. | eases |
| B. | ies |
| C. | ancelled |
| D. | ontinues |
| Answer» E. | |
| 258. |
When critical illness rider benefit is payable? |
| A. | hen the life insured dies of a critical illness |
| B. | hen the insured is diagnosed with critical illness |
| C. | hen the life insured is diagnosed with a illness not covered under the policy |
| D. | hen the life insured assigns his critical illness rider benefit also in favour of assignee |
| Answer» C. hen the life insured is diagnosed with a illness not covered under the policy | |
| 259. |
Whose obligation is to pay claim? |
| A. | nsurer |
| B. | nsured |
| C. | nderwriter |
| D. | roposer |
| Answer» B. nsured | |
| 260. |
Which is a not a personal characteristics contributing to tendency to disease? |
| A. | uild |
| B. | eight |
| C. | eight |
| D. | eed |
| Answer» E. | |
| 261. |
Two measures of a Blood pressure of a person are - |
| A. | ystolic |
| B. | iastolic |
| C. | oth A & B |
| D. | one of the above |
| Answer» D. one of the above | |
| 262. |
Which of the following is not a medical factor that influence an underwrititer’s decision? |
| A. | amily history |
| B. | ncome |
| C. | ersonal history |
| D. | ersonal characteristics |
| Answer» C. ersonal history | |
| 263. |
Which of the following reports would reflect on the lifestyle and habits of a proposer? |
| A. | gents confidential reports |
| B. | oral hazard report |
| C. | oth A & B |
| D. | one of the above |
| Answer» D. one of the above | |
| 264. |
Rider benefit is payable subject to policy terms and conditions on the occurrence of a specified _________ |
| A. | ontract |
| B. | vent |
| C. | ealth |
| D. | ondition |
| Answer» C. ealth | |
| 265. |
Surrender value expressed as a percentage of premiums paid is called – |
| A. | uaranteed surrender value |
| B. | pecial surrender value |
| C. | pecial revival value |
| D. | inimum surrender value |
| Answer» B. pecial surrender value | |
| 266. |
Surrender value is a %age of _________ |
| A. | uman life value |
| B. | oan value |
| C. | aid up value |
| D. | onetary value |
| Answer» D. onetary value | |
| 267. |
Which of the following policy, survival benefits are payable? |
| A. | hole life |
| B. | oneyback |
| C. | ndowment |
| D. | nit Linked |
| Answer» C. ndowment | |
| 268. |
Which of the following is not an event triggering claim? |
| A. | urvival |
| B. | eath |
| C. | ge |
| D. | urrender |
| Answer» D. urrender | |
| 269. |
Which of the following is not an hazardous occupation of moral hazard from a job? |
| A. | orking in a ration shop |
| B. | orking as a bodyguard to a criminal |
| C. | orking as a bartender |
| D. | orking in a night club |
| Answer» B. orking as a bodyguard to a criminal | |
| 270. |
Occupational hazards could emanate from |
| A. | ccident at work place |
| B. | ealth problems |
| C. | oral hazard in a job |
| D. | ll of the above |
| Answer» E. | |
| 271. |
Which of the following is not a moral hazard? |
| A. | aking insurance at advanced age |
| B. | proposer with many dependents taking ins |
| C. | hen medical exam is done elsewhere |
| D. | roposal on another life without insurable interest |
| Answer» C. hen medical exam is done elsewhere | |
| 272. |
When special reports would be necessary? |
| A. | hen high sum insured is proposed |
| B. | hen age is advanced |
| C. | oth A & B |
| D. | one of the three |
| Answer» D. one of the three | |
| 273. |
In which of the following cases moral hazard could be suspected? |
| A. | hen the age is advanced |
| B. | arge sum insured disproportionate to income |
| C. | oth A & B |
| D. | one of the three |
| Answer» D. one of the three | |
| 274. |
A deductible is usually mentioned in |
| A. | upee |
| B. | ollar |
| C. | uro |
| D. | ny currency |
| Answer» C. uro | |
| 275. |
Which is a fixed amount for a covered service in the health sector? |
| A. | oinsurance |
| B. | eductible |
| C. | opay |
| D. | ealth Insurance |
| Answer» D. ealth Insurance | |
| 276. |
Which of the below tips are useful making a good first impression? |
| A. | eing on time always |
| B. | resenting yourself appropriately |
| C. | eing open , confident and positive |
| D. | ll of the above |
| Answer» E. | |
| 277. |
In costumer relationship the first impression is created |
| A. | y being confident |
| B. | y being on time |
| C. | y showing interest |
| D. | y being on time , showing interest and being confident |
| Answer» E. | |
| 278. |
Which of the below forms first part of a standard insurance policy document? |
| A. | olicy schedule |
| B. | tandard provisions |
| C. | pecific policy provisions |
| D. | laim procedure |
| Answer» B. tandard provisions | |
| 279. |
When an applicant is seeking license for the first time, he / she is supposed to undergo _________of practical training (from an approved institution) in life insurance. |
| A. | 5 hours |
| B. | 0 hours |
| C. | 5 hours |
| D. | 00 hours |
| Answer» C. 5 hours | |
| 280. |
For the subsequent premiums received by the insurance company after the first premium, the company will issue _________. |
| A. | evival premium receipt |
| B. | estoration premium receipt |
| C. | einstatement premium receipt |
| D. | enewal premium receipt |
| Answer» E. | |
| 281. |
Where was the Universal Life Policy introduced first? |
| A. | SA |
| B. | reat Britain |
| C. | ermany |
| D. | rance |
| Answer» B. reat Britain | |
| 282. |
The first part of the policy document deals with |
| A. | olicy claim settlement procedure |
| B. | olicy schedule |
| C. | tandard provisions |
| D. | pecific policy provisions |
| Answer» C. tandard provisions | |
| 283. |
In pursuance of which one of the following was the General Insurance Corporation of India was formed? |
| A. | eneral Insurance Business (Nationalization) Act, 1972 |
| B. | nsurance Act, 1938 |
| C. | nsurance Amendment Act, 2002 |
| D. | RDA Act 1999 |
| Answer» B. nsurance Act, 1938 | |
| 284. |
Which one of the following is the special drawing rights given by the International Monetary Fund to its member countries? |
| A. | old money |
| B. | ot money |
| C. | aper gold |
| D. | one of the three |
| Answer» D. one of the three | |
| 285. |
What is the expanded form of the term ALM used in the banking sector? |
| A. | sset Liability Maintenance |
| B. | sset Liability Management |
| C. | sset Liability Manipulation |
| D. | sset Liability Maximisation |
| Answer» C. sset Liability Manipulation | |
| 286. |
Investment in ULIPs is related to which section of the Income Tax Act? |
| A. | 8C |
| B. | 5B |
| C. | 8A |
| D. | 0C |
| Answer» E. | |
| 287. |
Which of the following is a combination of insurance as well as an investment? |
| A. | oney back policy |
| B. | ndowment plan |
| C. | nit Link Insurance Plan |
| D. | utual Funds |
| Answer» D. utual Funds | |
| 288. |
SEF is abbreviated as _________ |
| A. | tandard Endorsement Form |
| B. | ecure Endorsement Form |
| C. | tandard Envelope Form |
| D. | tandard Endorsement Fair |
| Answer» B. ecure Endorsement Form | |
| 289. |
A method of valuing insured property or the value computed by that method is known as |
| A. | ctual cost validity |
| B. | ctual cash value |
| C. | eplacement cash value |
| D. | ormal cost value |
| Answer» C. eplacement cash value | |
| 290. |
What does the letter 'S' denote in the term IFSC? |
| A. | ubscriber |
| B. | tate |
| C. | ystem |
| D. | ource |
| Answer» D. ource | |
| 291. |
Women have significantly _________ longevity than men |
| A. | reater |
| B. | esser |
| C. | either greater nor lesser |
| D. | nable to say |
| Answer» B. esser | |
| 292. |
Characteristics of an individual which impact on risk (hazards) is classified into? |
| A. | inancial and non-financial hazard |
| B. | hysical and moral hazard |
| C. | hilosophical and metaphysical hazard |
| D. | tandard and non-standard hazard |
| Answer» C. hilosophical and metaphysical hazard | |
| 293. |
Under Non-medical underwriting, which is not a condition to be followed? |
| A. | emale |
| B. | imit in sum insured |
| C. | imit in age |
| D. | imit in income |
| Answer» E. | |
| 294. |
Under which type of underwriting several conditions are to be followed? |
| A. | on-medical underwriting |
| B. | edical underwriting |
| C. | ield underwriting |
| D. | inancial underwriting |
| Answer» B. edical underwriting | |
| 295. |
Why non-medical underwriting is resorted to ? |
| A. | o verify the income of the proposer |
| B. | o save on cost of conducting medical exam |
| C. | o check the antecedents of a person |
| D. | o satisfy about the health of the proposer |
| Answer» C. o check the antecedents of a person | |
| 296. |
A loan-cum revival would mean – |
| A. | ranting a loan |
| B. | evival of the policy |
| C. | oth A & B |
| D. | one of the above |
| Answer» D. one of the above | |
| 297. |
What is the condition for special revival? |
| A. | he policy should have loan value |
| B. | he policy must not have acquired surrender value |
| C. | ither A or B |
| D. | either A nor B |
| Answer» C. ither A or B | |
| 298. |
Under special revival which is correct? |
| A. | t is as though a new policy is issued by altering DOC |
| B. | he maturity date also gets altered |
| C. | ifference between old and new premium is payable |
| D. | ll of the above |
| Answer» E. | |
| 299. |
Which is the simplest form of revival? |
| A. | rdinary revival |
| B. | pecial Revival |
| C. | nstalment revival |
| D. | ny of the above |
| Answer» B. pecial Revival | |
| 300. |
What is the way to revival a lapsed policy of life insurance? |
| A. | rdinary revival |
| B. | pecial Revival |
| C. | nstalment revival |
| D. | ny of the above |
| Answer» E. | |