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

Email

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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