IC02 PRACTICE OF LIFE INSURANCE - 05

Que. 1 : Q1) In Assignment if the policy is assigned to a minor then ________ has to be appointed

   1.  a) An appointee

   2.  b) An assignor

   3.  c) A Guardian

   4.  d) A Legal Heir

Que. 2 : Q2) Why does a policy holder choose to pay a slightly lesser amount of premium for the same amount of insurance cover ?

   1.  a) Bonus loading

   2.  b) Risk cover

   3.  c) Valuation surplus

   4.  d) Rider benefits

Que. 3 : Q3) Here is a situation : Mr. Ravi was applying for a life insurance policy and he confidentially disclosed to his insurance agent that he had a mild heart attack about 5 months back. The insurance agent did not mention this in the application form. As per IRDA’s code of conduct, how should the insurance agent deal with this information ?

   1.  a) The agent should refuse the proposal

   2.  b) The agent should notify the insurer about this matter

   3.  c) The agent should keep it confidential

   4.  d) The agent should ask Mr. Ravi’s doctor to send a detailed report to the insurer

Que. 4 : Q4) Which of the following mentioned below is not True for Insurable Interest?

   1.  a) For an Employee the Insurable Interest is to the extent of value of services rendered by him

   2.  b) For the partners the insurable interest is to the extent of loss

   3.  c) For debtors the insurable interest is to the extent of Debt

   4.  d) For Husband there is an unlimited Insurable interest in the life of his spouse

Que. 5 : Q5) If Mrs. Shanna is 22 years 5 months 29 days then her age nearer birthday is________________.

   1.  a) 21 years

   2.  b) 22 years

   3.  c) 23 years

   4.  d) 22 years 6 months