IC38 - HEALTH INSURANCE AGENT EXAM - 12

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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

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