IC02 - LICENTIATE - Practice of Life Insurance 56

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Q 1. Which of these funds has the most risk?

a) Equity Funds

b) Debt Funds

c) Balanced Funds

d) All have equal risk
 
Q 2. Who signs the receipt book after collecting premiums in Industrial Life Insurance?

a) Agent

b) Employer

c) Policy Holder

d) Insurer
 
Q 3. Candidates seeking Life Insurance Agency should complete practical training for _______ hours

a) 25 Hours

b) 30 Hours

c) 75 Hours

d) 50 Hours
 
Q 4. Who is authorized to draw a loan on a policy taken under the Married Women's Property (MWP) Act?

a) The Nominees

b) The insured's wife

c) The insured's children

d) The Appointed trustees
 
Q 5. Mr. Ayush was born on 1st Feb 1980. On 16 May 2000, he is 20 years 3 months, and 16 days old. What is his age nearer to his birthday?

a) 20 years

b) 21 years

c) 20 years 3 months

d) 21 years 3 months
 
Q 6. An Appointee should be appointed by the Policyholder if the nominee is

a) Major

b) Minor

c) Assignor

d) Assignee
 
Q 7. Which of the following statements is True? Statement A: Nomination in favor of Trust is not allowed. Statement B: As Age Increases premium also increases

a) Statement A is True

b) Statement B is True

c) Both Statements are True

d) None of the Statements are True
 
Q 8. The minimum duration of a loan against an insurance policy is _____________.

a) 15 days

b) 30 days

c) 2 months

d) 6 months
 
Q 9. In a With Profit policy periodical bonuses accrued are also paid besides payment of the contracted amount on maturity

a) True

b) False
 
Q 10. The benefit of an Endowment Assurance policy is continued even after______________.

a) Injury of the insured

b) Death of the insured

c) Accidental death of the insured

d) Maturity period
 
Q 11. In the state's effort in social management, Life Insurance performs a___________function.

a) Nonimportant

b) Complementary

c) Supplementary

d) Mandatory
 
Q 12. If the sum assured is Rs 750000, calculate the premium amount for half-yearly mode if the tabular premium for plan term 5-35 is 32.50.

a) 12186

b) 12187

c) 12188

d) 12189
 
Q 13. Q13) Some grace period is allowed to pay the insurance premium after the due date but this depends on _______.

a) the type of policy

b) the premium amount

c) the payment mode (interval)

d) the sum assured
 
Q 14. From the below options in a key man insurance who is insured?

a) The Proprietor of the firm

b) Any employee of the company

c) An employee with significant responsibilities the loss of whom can affect the profits of the company

d) None of the above
 
Q 15. Who are the beneficiaries under Married Women's Property (MWP) Act policies?

a) Insuredamp;amp;rsquo;s parents

b) Insured’s In-Laws

c) Husband and Wife

d) Wife and Children


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