IC38 - HEALTH INSURANCE AGENT EXAM - 01

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Q1.In a Hospital-Bill, the Charges for On-Duty Medical-Officer will be included under Which Head?
   a) Room-Rent
   b) Procedure Charges
   c) Consultant Charges
   d) Miscellaneous Charges
 
Q2.Which of the following makes the contract unenforceable in a Court of Law?
  a) The proposer has committed a non-disclosure
  b) The proposer has given the wrong address of property due to a clerical error
  c) The policy is not stamped as per the Indian Stamp Act.
   d) All of the above
 
Q3.What class of insurance would respond to claims made against an accountant in respect of incorrect advice given for a fee?
   a) Financial loss insurance
   b) Legal expenses insurance
   c) Professional indemnity insurance
   d) Public liability insurance
 
Q4.A household insurance policy has an excess of Rs 150 in respect of each claim. If a valid claim for Rs 500 is submitted, what maximum amount would the insured receive in the settlement?
   a) Rs 150
   b) Rs 350
   c) Rs 500
   d) Rs 650
 
Q5.The Premium-Calculation may depend on, Which of the Following Factors? (a) City of Residence (b) Occupation (c) Age (d) Financial Capability of Individual
   a) Both: Factor-(a) and Factor-(b) , apply Together.
   b) Both: Factor-(b) and Factor-(c) , apply Together.
   c) Both: Factor-(b) and Factor-(d) , apply Together.
   d) Both: Factor-(c) and Factor-(d) , apply Together.
 
Q6.Within the calculation of technical pricing, there are a number of future trends the underwriter needs to consider. Which of the following is incorrect with respect to the above statement?
   a) Inflation
   b) Claims made during the year
   c) Technology
   d) Legal Charges
 
Q7.In Certain Cases, when the Value of Loss cannot be easily estimated or ascertained, at the Time of Loss, a Principle, known as ___, is adopted.
   a) Ascertained Value
   b) Speculated Value
   c) Agreed Value
   d) Imposed Value
 
Q8.The duty of disclosure arises
  a) Prior to the inception of the policy
  b) After the inception of the policy
   c) Prior to inception and continues during the policy
   d) There is no such duty
 
Q9.Two main sources of Income for an Insurance Company are Underwriting Income and ____
   a) Claims Salvage
   b) Risk Management
   c) Reinsurance Commission
   d) Investment
 
Q10.An insurance policy is proof of a commercial contract and the general rules of construction and interpretation adopted by courts apply to insurance contracts as in the case of other contracts.
   a) True
   b) False

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