IC38 - HEALTH INSURANCE AGENT EXAM - 19
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 |