IC92 ACTUARIAL ASPECTS - 02

Que. 1 : Q1) Which of the below statement is false?

   1.  a) A person can buy insurance for himself

   2.  b) A husband can buy insurance for wife

   3.  c) A wife can buy insurance for husband

   4.  d) A person can buy insurance for friend

Que. 2 : Q2) Which of the following is not an example of alteration?

   1.  a) Reduction in policy term (increase in policy term is generally not allowed, as it could cause reduced premiums)

   2.  b) Change from one mode of premium payment to another (e.g. from monthly mode to yearly mode)

   3.  c) Change from whole life plan to endowment plan (this is rare, but insurers do permit)

   4.  d) Discounting of policy in the last year [usually with no penalties]

Que. 3 : Q3) There is a _________ risk that parameter values used in model is incorrect.

   1.  a) Parameter

   2.  b) Model

   3.  c) Experience

   4.  d) Expense

Que. 4 : Q4) Investment should provide highest returns to meet the expectations of policyholders, such as equity and property, where capital appreciation is possible refers to?r

   1.  a) Single premium products

   2.  b) Regular Premium products

   3.  c) With profit contracts

   4.  d) Without profit contracts

Que. 5 : Q5) In which of the following products would the policyholders expect the highest returns?

   1.  a) With profit contracts

   2.  b) With profit contracts

   3.  c) Both of the above

   4.  d) None of the above