Exam by IRDA

Hii sir, I Am Preparing for the Insurance Agent Examination of the IRDA Will you please provide me the Examination Question Paper of the IRDA Exam ?

[Rajkumar Agarwal]

As you Asking for the Question Paper of the IRD Insurance Agent Exam the Question Paper is As Follow



Fill in the blanks using only one of the alternatives provided in bracket.
1. The definition of rural area is where the total population is __________ (over 5000/ over 10000 / less
than 5000)

2. Who in the insurance companyis responsible for the solvency of the company_______________

3. The principal is responsible for _________ of the agents
a) all acts b) Some acts c) Specified acts d) Basicacts

4. An agent is expected to report on proponents ___________ status
a) Financial b) Medical c) Both d) None of the earlier

5. In case of corporate agents, the amount of commissions earned from a corporate / organization /
group / can not exceed ____ of total commissions
a) 30%, b) 40%, c) 50%, d) 60%

6. State true or false - The issue of licenses required u/s 42 of the InsuranceAct, 1938, is regulated by
the IRDA Act of 2000 _______________.

7. The amount paid to an agent for procuring policiesis called
a) Commission
b) Fees
c) Salary
d) Honorarium

8. _____________ is a document issued under the law authorizing a person to act as an insurance agent
a) Mandate
b) License
c) Certificate
d) Appointment

9. Which statement is Appropriate
A) Going through the existing policies of a prospectwhom he is meeting for the first time, the agent
suggest that he should allow 3 of them to lapse & go in for a new policies
B) Going through the existing policy of a prospect whom he was meeting for first time, the agent suggest
that nomination be made & offered to get them registered by the office
a) A Statement
b) B Statement
c) Both Statement
d) Neither of Statement


10. True or False
a) Nomination can be changed any number of times.
b) Assignment can be effected at the proposal stage.
c) License fee for renewal of agent’s licence is Rs. 100/-.
d) Level premium creates reserves.
e) Agent is an employee of Insurance Company.
f) An employer has no insurable interest in the lives of his employees.
g) An agent can work for two life insurance companiesat the same time.
h) Under deferred annuity system, the annuity begins within the first year.
i) For a sum assured of Rs.20, 000/- the rebate for large sum assured is Re.1/-.
j) Individual policies are issued in Group Insurance.
k) The bonus is declared under all plans.
l) Insurance can be granted to those women who observepurdah.

11. Under _______________ premium system the premiumis the same throughout the policy term.
a) Level premium
b) Single Premium
c) Regular Premium

12. _______________ is the price paid to purchase an insurance product. premium

13. For half-yearly mode of premium rebate allowed is ______________ 1.5 %

14. Surrender means ___________ (Renewal /Termination/ Revival) of the contract.

15. If a proposer does not disclose fully all the material facts at the time of proposal, the principle of
__________ (Indemnity / Insurable Interest / Utmost Good faith) is violated.
16. Commission on second year’s premium payable for Endowment policy for 15 years is
__________percent (5/7.5/101)

17. Age nearer birthday as on 20.5.2000 of a person with date of birth 13.7.1974 is ____________ years
(25/26/27)

18. Before a person decides to buy Life Insurancehe is only a _______ and when he buys life Insurance
he becomes ________ ( proposer(1)/Life assured(2) / Nominee/ Assignee/Claimant)

19. The terminal bonus is paid to those policies which become claim after completing ___________
years as in force policies (10/15/20)
Mention ‘Appropriate ‘ or ‘Inappropriate’ against each of the following statements –

20. Agent interferes with the clients of other agents.