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.

Click Here for Answer Key