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 |