IC27 - Health Insurance exam - 5
IC27 - Health Insurance exam - 5
Access More Mock Tests Now
Q 1. Which section of The Insurance Act, of 1938 authorizes the TAC to collect information from the insurers?
Section 64 VB
Section 64 UE
Section 51
Section 51
Section 64 B
Q 2. Section 64 UE of The Insurance Act, 1938 authorizes the TAC to require and collect information from the insurers.
Vigilance compliance checks
Comprehensive claims information
Extract data output in a desirable or actionable format
Create consumer awareness
Fraud investigation
Q 3. What would be the earned premium by the insurer where an insured having taken a policy for two years, paid a premium of Rs. 20, 000 and had not taken any claim during 1st six months of the policy?
Rs 20000
Rs 10000
Rs 5000
Rs 2500
Nil Since the policy is in force & there could be a claim time during the currency of the policy
Q 4. Which of the following statements is true about the National Commission? 1. Insurance-related complaint only 2. Complaints regarding both general as well as of life insurance can be taken up by the commission 3. The National Commission is the final authority and no appeal can be filed against its order anywhere
Statements 1 and 2 are correct, 3 is incorrect
Only statement 1 is correct
Only statement 2 is correct
Only statement 3 is correct
Statements 2 and 3 are correct, 1 is incorrect
Q 5. LTC or Long Term Care plan aims to provide indemnity to the insured's additional costs to be incurred for considerable long-term care. Which of the following benefits can be provided under the LTC? 1. Additional personal care cost to be incurred for nurses 2. Living costs like food, clothing, etc. 3. Additional living cost of amenities
Only 1 is true
Only 1 & 2 are true
1 & 3 only are true
1, 2 & 3 all are true
Only 2 & 3 are true
Q 6. The renewability clause mandates the renewal of the policy unless fraud or misrepresentation by the insured is proven. IRDAI has also stipulated rules for the grace period. Which of the following do not fall under the above-said rules?
Provision of 30 days grace period from the date of renewal
Continuity of benefits
All policies are renewable for life
Renewal to continue irrespective of age
Coverage of any illness during the period of grace
Q 7. Under rural insurance, the reinsurance product variant of white-labeling is present in ______.
Only employers stop the loss
Both social reinsurance and employers stop the loss
Neither of the above
Only social reinsurance
Under micro products
Q 8. Daycare procedures include:
Bariatric surgery
Angioplasty
Pneumonia
Pulmonary embolism
Breast surgery
Q 9. Concerning Critical illness policy, which of the following statement/s is/are correct? 1. It provides a lump sum payment on diagnosis of a covered condition 2. It provides a lump sum payment on undergoing a covered procedure 3. It cannot be covered under the Accelerated CI benefit product
Only statement 1 is correct
Only statement 2 is correct
Only statement 3 is correct
Only statements 1 and 2 are correct
Only statements 1 and 3 are correct
Q 10. IIB (Insurance Information Bureau) was set up to provide reliable data on the insurance sector to researchers and policymakers. In which year the IIB was set up?
1999
2001
2004
2009
2014
Q 11. Under which of the following rating methods, credits, or debits are considered for the underwriting of a health insurance proposal?
Medical rating method
Non-medical rating method
Numerical rating method
Medico-legal cases method
Non-medico legal cases method
Q 12. Compared to the 16% GDP healthcare expenditure in the USA, India's expenditure is around _______% of GDP in the year 2008-09. 1. 4.13% of the GDP. 2. 1.43% of the GDP 3. 4.13% of the current market price of 2008-09
Only 1 and 2 are correct
Only 2 and 3 are correct
Only 1 is correct
Only 2 is correct
Only 1 and 3 are correct
Q 13. A group of convenience is a group formed solely to take advantage of flexible design and get the benefits that are not available under individual policies. What are the consequences associated with issuing health insurance coverage to such groups? 1. It led to adverse selection of risk 2. Leads to a higher claim ratio of 3. It may increase the penetration of insurance and may provide economies in cost to the insurers
Statement 1 is correct
Statement 2 is correct
Statements 1 & 3 are correct
All the statements are correct
ments 1 & 2 are correct, 3 is incorrect
Q 14.
A Person wants to ensure that while he has taken the necessary life insurance cover there is also some protection to him and his family in case there is a serious illness that affects the person and which can drain him of financial resources. In such a situation one can take the option of which rider.
Waiver of premium
Accidental death
Critical illness
Guaranteed insurability
all of above
Q 15. In which year was the first stand-added product known? Mediclaim? was launched for individuals and their families.
1986
1999
1973
1956