Your

Q.NO. QUESTION ANSWERS Correct

Ans
2 Under L.I.C Bima Kiran Policy, L.I.C pays the maturity A. Yes C D
claim in full. Does the policy contract come to an end B. No, it continues
thereafter? for 5 years
thereafter
C. No, it continues
for further 10
years for death
risk only

D. Yes, provided,
policy-holder pays
a prescribed
single premium at
maturity
6 The days of grace must be computed from : A. The due date of C B
the premium
B. The working day
falling
immediately after
the due date
C. The next day after
the due date of
the premium

D. From the mid-day

of the due date
9 What is `Bhavishya Jeevan policy`? A. Regular premiums B D
are paid
B. Facility of higher
premium in the
begining and
lower later
C. Term is fixed

D. Restricted risk is
covered
12 What is minimum and maximum age of a child at entry for A. 1 to 12 years A D
purchasing Jeevan Kishore Policy? B. 3 to 10 years
C. 4 to 14 years

D. 1 to 15 years
16 Section 45 of the Insurance Act is relevant for policies A. two A B
which are __________ years old B. three
C. four

D. five
17 Statement A: Section 45 of Insurance Act applies to paid A. Both are true D A
up policies B. Only A is true
Statement B: Section 45 of Insurance Act does not apply C. Only B is true
to 1 year old policy
D. Both are false
18 Statement A: The funds of an insurer are to be held in A. Both are true A B
trust. B. Only A is true
Statement B: Life Insurance fund belongs to the C. Only B is true
shareholders
D. Both are false
26 The maturity proceeds of a policy funded by HUF would be A. Karta of HUF A C
paid to B. LA
C. Nominee

D. None of the above

32 What is the maximum limit of premium, which can qualify A. Rs 60,000 A C
for income tax rebate? B. Rs 50,000
C. Rs 20,000

D. Rs 10,000
35 How much maximum risk is covered under LIC Jeevan A. Single sum D B
Sathi Policy (joint life plan) with DAB cover? assured
B. Double the sum
assured
C. Triple the sum
assured

D. Four times the

sum assured
37 In an insurance contract, caveat emptor applies A. True B A
B. False
C. Partly true

D. Partly false
42 Informations/statements given in the proposal form :- A. Are not taken into C B
account for
underwriting
decision
B. Need not be
disclosed
truthfully to the
best of knowledge
by the agent
C. Are in respect of
illness/accidents/o
perations
undergone by the
life to be assured

D. Are of no
importance
53 A `Designated Person` means a : A. Person under C A
whose signature
license is
forwarded by
IRDA to agents
B. Who conducts
practical training
for agents before
they obtain
licence
C. Insurer`s
nominated official
and approved by
the IRDA for
issuing or
renewing licence

D. Person who
conducts
examination for
the licence.
54 Insurance intermediaries mean : A. Insurance D A
consultants
B. Reinsurance
brokers
C. Surveyors and
loss assessors

D. All of the above

55 Minimum pass marks percentage in pre-recruitment test A. 50% A B
for agents is
B. 60%
56 An agent has filled the proposal form at the request of the A. For the insurer B D
proposer. In doing so, is he acting as an agent of the B. For the proposer
insurer or of the proposer? C. For both

D. For none
57 Insurance company acts as a principal to .. A. Underwriter B C
B. Agents
C. Insured

D. Student
58 Superannuation schemes are arranged having regard to:- A. Part `A` of B C
Schedule IV of the
Income Tax Act,
1961
B. Part `B` of
Schedule IV of the
Income Tax Act,
1961
C. Schedule I to the
Employees
Provident Fund
Act

D. Schedule VI to the
Companies Act,
1956
62 What is the name of plan which covers dreaded diseases? A. Bima Kishore C D
B. Bima Kiran
C. Asha Deep

D. Jeevan Sathi
65 The benefit payable on death by accident under Social A. Rs 25,000/- A D
Security Group Insurance Scheme (SSGIS. was.. B. Rs 5000/-
C. Rs 10,000/-

D. Rs 15,000/-
72 Insurance Advertisements and Disclosure Regulations, A. By IRDA C B
2000 have been made : B. By Insurance
Advisory
Committee
C. By IRDA in
consultation with
Insurance
Advisory
Committee

D. Department of
Consumer Affairs,
Government of
India