IC38 - HEALTH INSURANCE AGENT EXAM - 27

Q 1.Which One of the Following Statements, is Correct, with Regard to 'Risk-Classification'?
   a) The Process of Evaluating Each Proposal for Health-Insurance in Terms of the Degree of Risk, it represents; and then Deciding: Whether or Not to Grant the Insurance, and on What Terms.
  b) The Tendency of People, Who suspect or know that their Chance of Experiencing a Loss is High, to seek-out the Insurance, Eagerly; and to gain in the Process.
   c) The Process of Assessing the Risk, Appropriately; and Deciding the Terms, on which, the Insurance-Cover is to be granted.
   d) The Process, where, the Individuals are Categorized and Assigned to Different Risk-Classes, Depending on the Degree of Risks, they Pose.
 
Q2.Which of the following, has been recommended by Commission, that, the Grievance-Redressal Authorities (G.R.A.s) should be constituted, to deal with? (i) Disputes between the Insured and the Insurer. (ii) Disputes between the Insured and the Intermediaries. (iii) Disputes between the Insurer and the Intermediaries. (iv) Any Dispute between the Insured, the Insurer, and the Intermediaries.
   a) Both: (i) and (ii) , are Correct.
   b) Both: (i) and (iii) , are Correct.
   c) Both: (ii) and (iii) , are Correct.
   d) Only (iv) is Correct.
 
Q3.General insurance could help in achieving all of the following objectives EXCEPT:
   a) Protection against loss to business premises
   b) Making windfall gains on the occurrence of a contingent event
   c) Protection against errors and omissions
   d) Protection against property losses
 
Q4.Fire proposal seeks to know
   a) Process of manufacture
   b) Details of material stored
  c) Construction of a building
   d) All the above
 
Q5.Illustrate the Principle of Pooling, in Relation to Insurance.
   a) Gathering the People, Having Similar Assets, and Exposed to Similar Risks.
   b) Gathering the People, Having Different Types of Assets, and Exposed to Different Risks.
   c) Gathering the People, Having Similar Types of Assets, but Exposed to Different Risks.
   d) Gathering the People, Having Different Types of Assets, but Exposed to Similar Risks.
 
Q6.Under institute cargo clauses (AIR), at extra premium 1 war risk can be covered (2) Strike, riots and civil commotion risks can be covered.
   a) Statement 1 is True
   b) Statement 2 is True
   c) Both are true
   d) Both are false
 
Q7._____ is a collaboration between banks and insurers to distribute insurance products.
   a) Bancassurance
   b) Agent
   c) Broker
   d) Insurance company
 
Q8.In the Case of the Floater Policies, the Premium ___ Pattern, may, again, vary from Insurer to Insurer.
   a) Rating
   b) Payment
   c) Calculation
   d) Underwriting
 
Q9.______ means the transfer of all rights and remedies, with respect to the subject matter of insurance, from insured to the insurer.
   a) Contribution
   b) Subrogation
   c) Legal hazard
   d) Risk pooling
 
Q10.Workmens Compensation policy indemnifies the losses of the
   a) worker
   b) employer
   c) government
   d) surveyor

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