IC27 HEALTH INSURANCE EXAM - 04
| Q1.Which of the following statements is/are TRUE with regards to 'health savings on investment-linked plans'? |
| Although the risk premium is allocated to health insurance coverage, the investment amount is diverted to the unit-linked funds which shall pay for the future health costs |
| These products can also offer other benefits like critical illness benefits, hospitalization allowances, etc. |
| In such plans, the total premium is split up into risk premium and investment amount |
| These types of products discourage savings for expected high costs of medical care in the future |
| Statements 1, 2, and 3 all are correct, Statement 4 is Incorrect |
| Q2.Consider an example - A cedant has a 10-line surplus treaty which is subject to a maximum cession of 1,000,000. What will be the maximum gross capacity of the cedant for a single risk, if no other reinsurance coverage is in force? |
| 50000 |
| 1,10,00,000 |
| 1,00,00,000 |
| 11,00,000 |
| 1,00,000 |
| Q3.Under Critical Illness benefit, ____ amount is given to the insured on the diagnosis of critical illness like cancer, kidney failure, or on undergoing certain procedures. |
| Reasonable |
| Proportionate |
| Lump-sum |
| Fixed |
| Survival benefit |
| Q4.To which country do the insurance schemes CSMBS, UCS SSS belong? |
| India |
| Bangladesh |
| Thailand |
| Japan |
| USA |
| Q5.Who runs/governs the Rashtriya Swasthya Bima Yojana (RSBY)? |
| Commerce Ministry |
| Insurers |
| IRDA |
| The Stakeholders |
| Government |
| Q6. How are health care services primarily funded in the UK? |
| Through commercial health insurance |
| Tax-funded system |
| By out of pocket payments |
| Social health insurance |
| Social welfare organization |
| Q7.From the below options, which one is not a key tool for underwriting? |
| Financial documents |
| Medical reports |
| Commission reports |
| Sales reports |
| Proposal form |
| Q8.Manusmrithi and Dharmasastra refer to ___ of the resources and ___ them during the period of calamities. |
| collection, usage |
| stocking, distributing |
| pooling, distributing |
| usage, collecting |
| distribution, using |
| Q9.What is the main disadvantage of this situation: Due to a soft market condition, a reinsurer takes a decision to withdraw its participation in a treaty due to unsustainable premium rates. |
| Whenever the market conditions become more favorable, it may prove difficult to participate in the treaty in the future. |
| As the reinsurer has withdrawn from a treaty, it will automatically lose other profitable business |
| The reinsurers retrocession program will tend to become more expensive |
| Whenever the market conditions becomes less favorable, it may prove difficult to participate in the treaty in future |
| Any claim recoveries that are due to the reinsurer will no longer be payable |
| Q10.Which department of insurance companies uses data to benchmark the performance of underwriting offices and staff members ? |
| Human Resources Department |
| Finance Department |
| Underwriters Department |
| Actuaries Department |
| Marketing Department |