IC38 - HEALTH INSURANCE AGENT EXAM - 12
Q1. Dynamic Risks are based on, Which Type of Classification? |
a) Extent of Damage |
b) Nature of Environment |
c) Consequence |
d) Tenure |
Q2.Payment of a Fixed Sum per Week, to a Maximum Number of Weeks, for which, the Compensation would be Payable, is known as ___. |
a) Weekly Compensation |
b) Daily |
c) Sum of 4 Weeks |
d) Number-Defined Week |
Q3.Which type of insurance is compulsory by statute for companies which handle hazardous substances? |
a) Employers liability |
b) Fidelity guarantee |
c) Products liability |
d) Public liability |
Q4.Which of the following property can be insured under the Machinery Breakdown policy? |
a) Electrical equipment |
b) Mechanical equipment |
c) Lifting equipment |
d) All of the above |
Q5.Section 64 VB will advise the insured of that |
a) Insurance will not be effective unless the premium is paid before the cover is to commence |
b) Insurance will not be effective unless the insured reaffirms the declaration relating to material facts |
c) Insurance will not be effective if the cover is amended from that the renewal is based on |
d) Insurance will not be effective if there is any change in the agent or broker |
Q6.By transferring risk to the insurer, it becomes possible: |
a) To enjoy from floods |
b) To enjoy and make money from an insurance |
c) To enjoy a fire in the factory |
d) To enjoy peace of mind and plan one business more effectively |
Q7.Where an Insurance Agent collects a Premium on a Policy of Insurance, on behalf of an Insurer, He or She shall deposit to the Insurer, the Premium so collected, in Full, Without Deduction of His or Her Commission, Within --- of the Collection, excluding Bank-Holidays and Postal Holidays. |
a) 24 Hours |
b) 3 Days |
c) 5 Days |
d) 7 Days |
Q8.An insurer shall respond within _days of receipt of communication from policyholders in matters of servicing under the policy. |
a) 3 days |
b) 7 days |
c) 10 days |
d) 15 days |
Q9.--- means that the Applicants, Who are exposed to Similar Degrees of Risk, must be placed in the Same Premium-Class. |
a) Selection of Risk |
b) Anti-Selection |
c) Moral Hazard |
d) Equity |
Q10.If an agent is found guilty of criminal misappropriation, the designated person will ______. |
a) Cancel the license |
b) Issue a duplicate license |
c) Renew the existing license |
d) Take some fees from the agent |