IC38 - HEALTH INSURANCE AGENT EXAM - 06
| Q1.If a Policy-Holder wishes to seek Compensation, up to Rupees 20 Lakhs, from Insurance Company, against a Grievance, then, Where Can, He or She lodge the Complaint? Choose the Most Appropriate Option. |
| a) District Forum |
| b) State Commission |
| c) National Commission |
| d) Insurance Regulatory and Development Authority of India (I.R.D.A.I.) |
| Q2.As per guidelines, an insurance company has to process an insurance proposal within ____. |
| a) 7 days |
| b) 15 days |
| c) 30 days |
| d) 45 days |
| Q3.An insurance deductible is an example of _____. |
| c) Risk transfer |
| b) Risk avoidance |
| c) Risk transfer |
| d) Risk retention |
| Q 4.Which of the following best describes Pure Premium? |
| a) Total amount of claims Incurred per year divided by the number of exposure units |
| b) Total amount of claims divided by premium |
| c) Total premium divided by the total claims |
| d) Total premium divided by the number of exposure units |
| Q5.Raj is involved in a car accident. His car is insured under a motor insurance policy. Which among the following is the most appropriate thing for Raj to do? |
| a) Notify the insurer of the loss as soon as reasonably possible |
| b) Notify the insurer at the time of insurance renewal |
| c) Damage the car further so as to receive a bigger compensation |
| d) Ignore the damage |
| Q6.Mr. Suresh has purchased a Life Assurance Policy, so that, His Family-Members do not have to depend on Any-One, in Case of His Un-Timely Death. Identify the Risk-Management Technique, practiced here. |
| a) Risk-Avoidance |
| b) Risk-Retention |
| c) Risk-Transfer |
| d) Risk-Reduction and Risk-Control |
| Q7.Rajesh Car collides with another car and the other car driver is injured. Who will pay for the claims of the other driver? |
| a) Rajesh will pay from his own pocket |
| b) The other driver will have to pay on his own for the treatment costs as he does not have any insurance |
| c) Third Party Insurance pool |
| Q8.Personal liability insurance policies cover damages to properties and injuries to other people due to |
| a) Negligence |
| b) willful misconduct |
| c) war losses |
| d) burglary |
| Q9.____ determines whether the proposal should be admitted, whether the risk can be accepted. |
| a) Agent |
| b) Insurer |
| c) Underwriter |
| d) Insured |
| Q10.Advisor is called as the Primary Underwriter because____ |
| a) He is generally known to the customer and has reasonable knowledge about the customer's Medical history |
| b) He is the only one who meets the customer |
| c) He is generally known to the customer and has reasonable knowledge about the customers Financial Health |
| d) All of the above |