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.
|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
|b) willful misconduct
|c) war losses
|Q9.____ determines whether the proposal should be admitted, whether the risk can be accepted.
|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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