IC27 HEALTH INSURANCE EXAM - 13
| Q1.To be eligible for an insurance claim. a patient generally needs to be hospitalized for at least _ hours |
| 12 |
| 18 |
| 24 |
| 36 |
| 48 |
| Q2.With reference to 'hospital cash plans' - which of the below options is true? |
| It provides a daily allowance in addition to an indemnity claim |
| It provides only a one-time allowance which is included in indemnity claim |
| Linked to the actual hospitalization expenses incurred |
| Not available as a standalone product |
| It provides a lump-sum allowance for the entire duration of hospitalization |
| Q3.Which of the following statement(s) is/are true with respect to contributions made to funds for healthcare in France? 1. Contribution to these funds is non-mandatory 2. Contribution to these funds is mandatory 3. A person cannot opt-out of the scheme |
| Only 1 is true |
| Only 2 is true |
| Only 3 is true |
| Both 1 and 2 are true |
| Both 2 and 3 are true |
| Q4.State which analysis can divide the written premium for each of the policy years into two different segments? |
| Earned premium |
| Claims probability distribution |
| Written premium |
| Group size distribution |
| Stated premium |
| Q5.When was the Indian Life Insurance Act introduced to regulate insurance companies in India? |
| 1905 |
| 1912 |
| 1924 |
| 1938 |
| 1947 |
| Q6.Which of the following statements is/are true with respect to the rules for Grievance Redressal? 1. Any person who has a grievance against an insurer may himself or through his legal heirs make a complaint in writing to the Ombudsman within whose jurisdiction the branch or office of the insurer complained against is located 2. The Ombudsman may either make a recommendation through mediation or pass an award which he/she thinks is fair as per the facts and circumstances of the claim 3. The TPA shall appoint an Ombudsman for the purpose of these rules |
| Only statement 1 is correct |
| Only statement 2 is correct |
| Only statement 3 is correct |
| Both 1 and 2 are correct |
| Both 2 and 3 are correct |
| Q7.What could be a drawback of the cashless health cover in India? |
| There is a delay in the claim settlement process due to a lack of liquidity with insurance companies |
| People may misuse the facility and get treated for unnecessary health problems |
| People become more vulnerable to fake claims |
| Hospitals will give improper treatment to a person who has cashless healthcare cover |
| There is an additional premium load towards cashless policies |
| Q8.A Critical illness policy ____. 1. can also be taken as a stand-alone CI product 2. provides a lump sum payment on diagnosis of a covered condition 3. can come as an Accelerated CI benefit product, as a rider to a health insurance policy |
| Only 1 |
| Only 2 |
| Only 3 |
| Both 1 and 2 |
| All 1, 2 and 3 |
| Q9.Which amongst the following options is true with respect to Insurance Risk? |
| In health insurance, though each risk by itself is not very large there still exists the risk of ‘concentration’ |
| Even though the insurer may hold good quality assets, holding long term debt can lead to liquidity risk |
| Operational and other risks including the risk of frauds, risk of not keeping up with technology, risk of losing key human resources, etc. |
| This mismatch lessens the insurer’s ability to arrange adequate cash to pay its liabilities at a short notice |
| Similar to other businesses with financial dealings, there is a risk of default by business associates like providers, suppliers, and re-insurers |
| Q10.The National Insurance Act come into existence in Japan in the year __. |
| 1952 |
| 1950 |
| 1960 |
| 1961 |
| 1968 |