IC38 - HEALTH INSURANCE AGENT EXAM - 03
| Q1.Why do insurers arrange for survey and inspection of the property before acceptance of a risk? |
| a) To assess the risk for rating purposes |
| b) To find out how the insured purchased the property |
| c) To find out whether other insurers have also inspected the property |
| d) To find out whether neighboring property also can be insured |
| Q2.Many Proposals are Underwritten and Accepted for Insurance, without calling for a Medical Examination. This Form of Underwriting is referred to as --. |
| a) Healthy Underwriting |
| b) Non-Medical Underwriting |
| c) Non-Adverse Underwriting |
| d) General Underwriting |
| Q3.Identify the True Statement: I. Morbidity increases due to Various Adverse Factors, such as Being Over-Weight or Under- Weight, Personal History of Certain Past and Present Diseases or Ailments. II. Morbidity decreases due to Certain Favourable Factors, like Lower Age, a Healthy Life-Style, etc. |
| a) Only Statement-I is True. |
| b) Only Statement-II is True. |
| c) Both: Statement-I and Statement-II, are True. |
| d) Both: Statement-I and Statement-II, are False. |
| Q4.Third-Party Administrators (T.P.A.s) are Regulated, by Which of the Following Bodies? |
| a) Life Insurance Council and General Insurance Council, Jointly. |
| b) Insurance Regulatory and Development Authority of India (I.R.D.A.I.) |
| c) Insurance Brokers Association of India |
| d) Finance Ministry |
| Q5.Identify the True Statement: I. Critical Illness Policies are Usually Available for the Persons in the Age-Group of 21 Years to 65 Years. II. The Sum-Insured, offered under the Critical Illness Policies is Quite Low. |
| a) Only Statement-I is True. |
| b) Only Statement-II is True. |
| c) Both: Statement-I and Statement-II, are True. |
| d) Both: Statement-I and Statement-II, are False. |
| Q6.When is it essential for insurable interest to be present in the case of life insurance? |
| a) At the time of taking out insurance |
| b) At the time of claim |
| c) Insurable interest is not required in the case of life insurance |
| d) Either at time of policy purchase or at the time of claim |
| Q7.The ____has framed the Rules, known as, Redressal of Public Grievances Rules, 1998. |
| a) Insurance Regulatory and Development Authority (I.R.D.A.) |
| b) Non-Banking Finance Company (N.B.F.C.) |
| c) Securities and Exchange Board of India (S.E.B.I.) |
| d) Central Government |
| Q8. Claim under the critical illness policy is payable if during the policy period the Insured is found to have contracted a critical illness and survives such critical illness for at least __ days from the date of its discovery. |
| a) 15 days |
| b) 30 days |
| c) 45 days |
| d) 60 days |
| Q 9.Which of the below is covered under a money insurance policy? |
| a) Shortage due to error or omission |
| b) Loss of cash from one premise due to burglary |
| c) Loss of money that has been entrusted to other than authorized person |
| d) Riot strike and terrorism |
| Q10.Insurance brokers are licensed by: |
| a) Insurance Regulatory and; Development Authority |
| b) Reserve Bank of India |
| c) Security Exchange Board of India |
| d) Government of India |