IC11 - LICENTIATE - Practice Of General Insurance 27

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Q 1. Under Corporate Group Medical Policy employees above _________ years have submitted the prescribed medical reports.

a) 55 Years

b) 60 years

c) 65 years

d) 70 years

Q 2. Section 64 VB will advise the insured that

a) Insurance will not be effective unless the premium is paid before cover is to commence

b) Insurance will not be effective unless the insured reaffirms the declaration relating to material facts

c) Insurance will not be effective if the cover is amended from that the renewal is based on

d) Insurance will not be effective if there is any change in the agent or broker

Q 3. Under the Motor Vehicles Act fixed compensation for death in a hit and run motor accident is rs._______

a) Rs. 12,500/-

b) Rs.25,000/-

c) Rs.50,000/-

d) Rs.1,00,000/-

Q 4. Who arranges the re-insurance on behalf of the insurer?

a) Sales Agents

b) Corporate agents

c) Individual agents

d) Re-insurance brokers

Q 5. _______________ is not among the Ps of marketing.

a) Price

b) Product

c) Protection

d) Plac

Q 6. Under personal accident cover for the owner-driver the capital sum insured for private cars is

a) Rs. 50,000/-

b) 1,00,000/-

c) 2,00,000/-

d) 3,00,000/-

Q 7. No claim is payable under CPAA policy if the insured contracts cancer within a period of ______ days from the date of becoming a member of CPAA.

a) 15 days

b) 30 days

c) 45 days

d) 60 days

Q 8. Which one of the following is not one of the prime hazards an Underwriter looks at?

a) Financial

b) Moral

c) Risk

d) Physical

Q 9. An insurer shall respond within ____days of receipt of communication from policyholders in matters of servicing under the policy.

a) 3 days

b) 7 days

c) 10 days

d) 15 days

Q 10. Which of the following questions is common to all proposal forms?

a) Proposer's previous insurance

b) Proposers present insurance

c) Past losses

d) All of the above

Q 11. As per IRDA regulation, the remuneration to the micro-insurance agent for non-life insurance business shall not exceed ____% premium.

a) 5

b) 10

c) 15

d) 20

Q 12. As per the General Insurance Business Amendment Act 2002, General Insurance Corporation of India shall carry on

a) Reinsurance business only

b) Overseas reinsurance business only

c) Administration of motor third-party insurance pool only

d) Aviation insurance business only

Q 13. Q13) _______________ is the price of a given unit of insurance.

a) Rate

b) Premium

c) Sum Assured

d) Bonus

Q 14. Which among the following is the definition of arbitration?

a) The act of complaining about the Insurer to the Magistrate

b) Method of Settling disputes in the policy

c) Filing a case in the Legal Court

d) Litigation

Q 15. The minimum paid-up capital required for a General Insurance Company is Rs. ____

a) 200 crores

b) 50 crores

c) 75 crores

d) 100 crores


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