IC38 - HEALTH INSURANCE AGENT EXAM - 19

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Q1.If the insurer decides that a certain loss is not payable because it is not covered under the policy then who decides on such matters?
   a) Insurers decision is final
   b) Umpire
   c) Arbitrator
   d) Court of Law
 
Q2.Hospitalisation Indemnity Products provide for a __before any benefits commence
   a) Cost Sharing by the Insured
   b) Waiting Period
   c) Check-up by a registered doctor
   d) Blood and Urine Test
 
Q3.____ is Not a Type of Hazard.
   a) Legal Risks
   b) Social Risks
   c) Moral Risks
   d) Physical Risks
 
Q4.Non-Life Insurers must ensure that they do not insure the Assets, that are --.
   a) Bought, Out of Public Money
   b) Bought, Using the Bank-Loans
   c) Bought, Out of Illegal Funding
   d) Bought, By Mortgaging the Property
 
Q5.Describe a Tangible Product.
   a) A Tangible Product refers to the Physical Objects, that cannot be Perceived by Touch.
   b) A Tangible Product refers to the Physical Objects, that can be Directly Perceived by Touch.
   c) A Tangible Product is One, that has In-Finite Value.
   d) A Tangible Product is One, that has No Value.
 
Q6.Which of the following is not the correct reason? The insurer requires material information.
   a) To decide about acceptance
   b) To fix the rate of premium
   c) To fix the sum insured
   d) To fix terms and conditions of cover
 
Q7.Reserves for incurred but unreported claims come under the heading
   a) Accounting reserves
   b) Technical Reserves
   c) Unexpired Premium
   d) Asset Liability reserves
 
Q8.The contractual term for the premium is known as
   a) Contribution
   b) Consideration
   c) Commitment
   d) Consolidation
 
Q9.Which of the Following Statements, is/are True? I. Once a Claim is Registered in the System, a Reserve for the Same is Created in the Accounts of the Insurer. II. Once a Reserve-Amount is Created, this Amount is Freezed as the Upper-Limit, above which, the Claim cannot be paid. How-Ever, this Amount may be Revised Down-Wards, if the Actual Pay-Out Amount is Lower Than the Reserve-Amount.
   a) Only Statement-I is True.
   b) Only Statement-II is True.
   c) Both: Statement-I and Statement-II, are True.
   d) Both: Statement-I and Statement-II, are False.
 
Q10.For which of the following, full capital sum insured is not payable under personal Accident policy.
   a) Permanent Total Disablement
   b) Permanent Partial Disablement
   c) Loss of two limbs
   d) Loss of one limb and one eye

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