IC02 (LICENTIATE) Practice of Life Insurance - 04
| Q1.A special revival scheme is available if the policy has not lapsed for more than __ Years |
| 1 |
| 2 |
| 3 |
| 4 |
| 5 |
| Q2.What kind of premium is charged for life insurance plans, to keep the premium constant throughout the policy term? |
| Level premium |
| Net premium |
| Gross premium |
| Risk premium |
| Adjusted premium |
| Q3.Which of the below fund invests in instruments with a maturity period of less than one year? |
| ELSS Fund |
| Equity fund |
| Balanced fund |
| Money market fund |
| Debt fund |
| Q4.In a child insurance plan, the date on which the risk is commenced is known as ___. |
| Vesting date |
| Deferred date |
| Maturity date |
| Commencement of the risk date |
| Insured date |
| Q5.The additional loan amount generally granted should not exceed what percentage of the surrender value? |
| 70% |
| 80% |
| 90% |
| 95% |
| The additional loan cannot be granted |
| Q6.In industrial life insurance, the ____ consists of the details of the policyholders from whom the premium needs to be collected. |
| Credit list |
| Debit list |
| Policyholders list |
| Collection list |
| Receipt list |
| Q7.The value of an individual's investment is the _____. |
| NAV of the equity fund on any day X Units of the equity fund |
| number of units held X NAV |
| the market value of the equity shares X NAV |
| the market value of the equity shares / Units of the equity fund |
| None of the above |
| Q8.Who is entitled to the maturity claim? |
| Assignee when there is no assignment registered |
| Nominee |
| Appointee |
| Policyholder himself if there is no assignment under the policy |
| Inheritor |
| Q9.The Turnaround Time (TAT) as per IRDA standards for processing and communication of decisions including requirements/issue of policy/cancellations is __. |
| 5 days |
| 10 days |
| 15 days |
| 20 days |
| 25 days |
| Q10.An individual wishes to invest Rs. 58000 in an equity fund. NAV on that particular day for the fund is Rs. 25. How many units will he be allotted? ( Assume no entry load ) |
| 2240 units |
| 2295 units |
| 2320 units |
| 2460 units |
| 2500 units |