IC27 - Health Insurance exam - 8
IC27 - Health Insurance exam - 8
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Q 1. The health insurance was opened for the private companies in the year ______.
1999
2004
1986
2001
1988
Q 2. India did attempt to build extensive public health infrastructure, but its success was not so impressive. Which of the following are the problem areas hampering the desired growth? 1. Skewed geographical distribution 2. Poorly motivated manpower 3. Inadequacy of funding
Statement 1 only
Statement 2 & 3 only
Statement 1 & 3 only
All the statements are correct
None of the above
Q 3. The Policy Holder Protection Regulations was enacted in the year _______.
1999
2001
2002
1988
2011
Q 4. Which of the following insurance-linked saving plans is being proposed under the health insurance domain in India?
ULIP
HSA's
SCSS
Microinsurance
Top-up plans
Q 5. Which is the measure under the Technology and Process interface for identifying the potential fraudsters based on experience and backed by data analytics?
The method or logic deployed should be able to detect fraud effectively
Propensity modeling
Creation of a fraud database
Comprehensive claim information
RAG analysis
Q 7. Mrs. Sonia has taken a benefit policy for a sum insured of Rs. 5, 00, 000 and has incurred expenses of Rs. 2,30,000 on the happening of an insured event. Calculate the amount of the claim to be paid to Sonia.
Rs 500000
Rs 230000
Rs 270000
Rs 730000
Nil as the loss is less than the sum insured
Q 8. A customer can contact the insurers through various modes. Which of the following is NOT generally a contact mode by the customer?
Letter/ Fax
Call center
Head office visit
Branch office visit
Q 9. The utility of the reinsurance structure lies in the insurance business. Which types of typical claims are not reinsured?
Low frequency and high severity
High severity and high frequency
High severity and low frequency
Low frequency and low severity
Low severity and high frequency
Q 10. The occurrence of the insured event does not entitle the insured to compensation unless he has suffered some monetary loss. Which of the following principles of insurance defines this statement?
Principle of utmost good faith
Principle of indemnity
Principle of subrogation
Principle of proximate cause
Principle of contribution
Q 11. ____________ claims are typically reinsured only at a portfolio level.
High severity and High frequency
High severity and Low frequency
Low severity and High frequency
Low severity and Low frequency
None of the above
Q 12. The IRDA was established in the year _____.
1999
2000
2001
2002
2003
Q 13. Which process is used to analyze the insurance data and come up with a formula to be used to predict the future with as much accuracy as possible.
Rating
Modeling
Claim settlement
Reporting delay pattern
Claim settlement
Q 14. In RAG analysis, which categories are continuously monitored to take actions accordingly including cancellation of policy?
Red category
Amber category
Green category
Both Red and Amber categories
All Red, Amber, and Green categories
Q 15. Which statement is INCORRECT concerning Reinsurance?
Reinsurance is a transaction between insurance companies
Reinsurance is insurance for insurers
Reinsurance does not require underwriting skills
Reinsurance is a risk transfer mechanism
Reinsurance is a transaction between insurance companies
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