IC02 PRACTICE OF LIFE INSURANCE - 22

Que. 1 : Q1) The preamble includes the proviso and______________.

   1.  a) Operative Clause

   2.  b) Attestation

   3.  c) Conditions

   4.  d) Schedule

Que. 2 : Q2) Mls. Advance life insurance company issued a quotation on 6th March, guaranteed for 14 days and which was accepted on the 12th day. Consequently, the insurer can only decline the risk if_____________.

   1.  a) The insurer increases the premium rates

   2.  b) Customer submits a second quotation request

   3.  c) Stock rates changes

   4.  d) Material fact changes

Que. 3 : Q3) Mr Mahesh was not in a financial position to pay all the premium in full of his insurance policy and so his policy lapsed. This policy was revived under the____________scheme .

   1.  a) Special policy revival scheme

   2.  b) Regular policy revival scheme

   3.  c) Late policy revival scheme

   4.  d) Retain all customer motive

Que. 4 : Q4) Net Written Premiums = Gross Premium Values X Net Collected Premiums minus______________.

   1.  a) Re-insurance Charges

   2.  b) Ceding Commissions

   3.  c) Bank Interest and Government Taxes

   4.  d) Re-insurance Charges and Ceding Commissions

Que. 5 : Q5) The ‘days of grace’ clause is not enforced in ____________.

   1.  a) Salary Saving Scheme

   2.  b) Postal Life insurance

   3.  c) Mediclaim policies

   4.  d) Place of payment of premium