IC38 - HEALTH INSURANCE AGENT EXAM - 06

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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

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