IC38 - HEALTH INSURANCE AGENT EXAM - 30
| Q1.Insurance Act came into Effect, on --. |
| a) 1st June 1938 |
| b) 1st July 1938 |
| c) 1st June 1939 |
| d) 1st July 1939 |
| Q2.Accidental Insurance does Notand nbsp; include: (a) Terminal Illness; (b) Pre-Existing Disease; (c) Traffic Mis-Haps; (d) Industrial Mis-Haps. |
| a) Both: (a) and (c) , are Correct. |
| b) Both: (a) and (b) , are Correct. |
| c) Both: (b) and (c) , are Correct. |
| d) Both: (c) and (d) , are Correct. |
| Q3.The principle of indemnity arises under the |
| a) Insurance Act 1938 (as amended) |
| b) IRDA Act |
| c) Indian Contract Act |
| d) Common Law |
| Q 4.Which One of the Following Statements, is Incorrect, with Regard to Judgement Method of Underwriting? |
| a) Under this Method, Subjective Judgement is used. |
| b) This method is especially used in the Case of Complex Cases. |
| c) In this Method, the Company may seek the Expert Opinion of a Medical Doctor. |
| d) In this Method, the Underwriter assigns Positive or Negative Rating-Points to the Adverse Factors. |
| Q5.The Minimum and Maximum Age-of-Entry for a Health Insurance Policy Applicant, are ____. |
| a) 5 Years and 80 Years |
| b) 16 Years and 100 Years |
| c) 21 Years and 90 Years |
| d) 18 Years and 80 Years |
| Q6.Excess in a Fire policy implies |
| a) a discount |
| b) a malus |
| c) a deductible |
| d) a bonus |
| Q7.Before acceptance of a risk, the insurer arranges a survey and inspection of the property. Why? |
| a) To assess the risk for rating purposes |
| b) To find out how the insured purchased the property |
| c) To find out whether other insurers have also inspected the property |
| d) To find out whether neighboring property also can be insured |
| Q8.As per the Consumer Protection Act 1986, Compensation in excess of 20 Lakhs but less than Rs 50 Lakhs shall be handled by |
| a) District Commission |
| b) State Commission |
| c) National Commission |
| d) Insurance Ombudsman |
| Q9.Reserves for Unexpired risks come under the heading |
| a) Accounting reserves |
| b) Technical Reserves |
| c) Unexpired Premium |
| d) Asset Liability reserves |
| Q10.Explain: 'Risk-Tolerance'. Choose the Most Appropriate Option. |
| a) Types of Risks, One Can Take. |
| b) and Amount of Risk, One is Willing to Bear while Investing. |
| c) Instruments of Risk- Management. |
| d) Period, for which, One is willing to risk His or Her Investments. |