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  #2  
10th June 2015, 12:01 PM
Super Moderator
 
Join Date: Apr 2013
Re: IRDA Exam Question Paper in Bengali

As you are asking for the IRDA Agent Licensing Sample Question paper in Bengali so I want to convey you that this time I have the paper in English only but when I got the paper in Bengali I will send you soon.


The sample paper is provided below.


IRDA Agent Licensing – Sample Question paper

1. Insurance is a mechanism to reduce impact of adverse events on
a) Non-value generating assets.
b) Value generating assets.
c) Current assets
d) Fixed assets

2. Perils could be
a) Uncertain
b) Certain
c) Definite
d) Unlikely

3. Insurance is a function of
a) Uncertainty
b) Life
c) Society
d) Loss

4. Insurance works on the principle of
a) Sharing of profits
b) Sharing of assets
c) Sharing of losses
d) Sharing of expenses

5. A) Life Insurance protects the life of the insured.
B) Life Insurance minimizes the financial impact of untimely death.
a) A is correct b) B is correct
c) Both A & B are correct d) Both A & B are wrong

6. Occurrence of ----- has to be ------ & not a -------- of the insured person.

a. peril, uncertain, creation
b. event, certain, creation
c. risk, hazardous, profit
d. event, random, creation

7. For getting insurance you need to pay ------- and get compensated by -----.
a) Compensation, Claims
b) Claims, Premium
c) Premium, Claims
d) Fees, Claims

8. ------------ is the process, which prevents entry of people who do not share the same risk.
a) New Business
b) Valuation
c) Underwriting
d) All of the above


9. Life insurance is ------------- to the state’s efforts in social management.
a) Complementary
b) Supplementary
c) Elementary

10. The insurance company is in the role of --------- where all decisions are taken for the benefit of the community.
a) Caveat Emptor
b) Uberrimae Fides
c) Underwriter
d) Fiduciary.

11. To make accurate statistical estimates insurance risks must be handled as per the law of
a) Law of Inertia
b) Law of Large Numbers
c) Law of Large Groups
d) None of the above

12. The insurer is in the position of ------- of funds
a) Owner
b) Partner
c) Trustee
d) All of the above

13. Insurance is applicable to
a) Tangible Assets
b) Intangible Assets
c) Both of the above
d) None of the above

14. Article -------- relates to Social Security
a) 39
b) 40
c) 41
d) 42

15. A) In order to be insurable a risk must be capable of
Statistical estimation
B) In insurance only economic or financial losses can be
Compensated.
a) Statement A is correct
b) Statement B is correct
c) Both are correct
d) None of the above

16. In the mechanism of insurance, people who are exposed to different risk come together. TRUE / FALSE.

17. A human life is an income generating asset TRUE / FALSE.

18. In order to be insurable a risk must be capable of statistical estimation TRUE / FALSE.

19. Insurance is a function of uncertainty TRUE / FALSE.

20. What is insurance?
Protection of ________ value of assets (ECONOMIC)
Mechanism to reduce impact of adverse events on _______ _________ assets. ( VALUE GENERATING)

21. Damage to asset due to the PERIL IS CALLED Risk which an asset is exposed to TRUE / FALSE.

22. Life insurance protects the life of the insured. TRUE / FALSE.


23. Life insurance does not require any consideration. TRUE / FALSE.

24. In which of the cases Insurable interest does not exist
a. Spouse
b. Business Partner
c. Tenant
d. Self

25. Insurance prevents the damage of an asset due to PERIL. TRUE / FALSE.

26. Through Insurance only economic / Financial losses can be compensated. TRUE / FALSE.

27. The concept of insurance can be extended beyond the coverage of tangible assets.
TRUE / FALSE.

28. Match the following

a. Caveat Emptor 1. False facts
b. Uberrimae Fide 2. Influences premium fixing
c. Misrepresentation 3. Buyer beware
d. Material fact 4. Principle of utmost good faith

.

29. Caveate emptor and Ubereimae Fide put together mean that while the buyer holds the responsibility of revealing all relevant information from his side the agent is responsible to provide information only if asked for. TRUE / FALSE.

30. Caveate emptor and Ubereimae Fide put together mean that while the agent holds the responsibility of revealing all relevant information from his side the customer is responsible to provide information only if asked for. TRUE / FALSE

31. Almost all insurance policies are a combination of term and endowment policies. TRUE / FALSE.

32. Insurable interest is not defined in the insurance act 1938 TRUE / FALSE.

33. Insurable interest is not defined in the insurance act 1956 TRUE / FALSE

34. Insurable interest in defined in the IRDA act 1999 . TRUE / FALSE.

35. In group insurance, risk of individuals is not assessed TRUE/ FALSE

36. Underwriting is a process which ensures that all insured share the same risk. TRUE/ FALSE


37. Can an insolvent take a life insurance policy Yes / No

38. What is the part of surplus that is distributed to policyholders called? ________________. (BONUS)


39. Which type of life insurance plans entitles the life insured full sum assured in the event of either death or survival? ________. endowment

40. A person's interest in his own life is ....................?
a. Limited
b. Restricted to HLV
c. Unlimited


41. Minimum capital for new reinsurance companies entering Indian market as per IRDA norms is?____________________ . 200cr


42. Which is correct
A) Life Insurance contracts do not require consideration.
B) Life Insurance contracts require offer and acceptance.

(a) Statement A
(b) Statement B
(c) Both a and b
(d) None of the above


43. 4. In India, the Indian Contract Act, ---- governs commercial contracts.
a) 1852
b) 1862
c) 1872
d) 1882

44. Section 45 deals with policies which are ___old
a) 2 years
b) 3years
c) 4years
d) 10years or more

46. Which of the following is not a Material Fact
a) Medical History
b) Smoking Habit
c) Earlier Insurance Taken
d) None of the above

45. 7. Which of the following relate to Material Fact
a) Caveat Emptor
b) Uberrimae Fides
c) Consensus “ad idem”
d) Legality of Object

46. . Adverse Selection refers to
a) Wrong policies being selected
b) Lack of consensus ad idem
c) Substandard lives entering insurance contracts by non-disclosure.
d) Selection of wrong target segment by insurance company.

47. The duty of disclosure in life insurance operates
a) Till the risk commences
b) On alteration
c) On revival
d) All of the above

48. A) All risks are not insurable
B) Insurance risks must be capable of financial measurement
a) Statement A is correct
b) Statement B is correct
c) Both are incorrect
d) None of the above

49. 11. Insurable Interest is
a) Defined in Insurance Act 1938
b) A legal pre-requisite
c) Both of the above
d) None of the above


50. A) Facts which everyone is supposed to know need not be disclosed
B) Facts which lessen the risk need to be disclosed
a) Statement A is correct
b) Statement B is correct
c) Both A & B are correct
d) Both A & B are wrong


51. Insurance contracts are subject to two additional principles viz.:
a) Caveat Emptor, Uberrimae Fides
b) Caveat Emptor, Consensus “ad idem”
c) Caveat Emptor, Capacity to Contract
d) Uberrimae Fides, Insurable Interest


52. A) The proposer can decide which fact is material
B) Material facts help in deciding the premium
a) Statement A is incorrect
b) Statement B is incorrect
c) Both statements are incorrect
d) None of the above is correct


53. A) Hazardous profession can affect the premium
B) A commercial pilot’s premium would be different from that of a Teacher of the same age
a) Statement A is incorrect
b) Statement B is incorrect
c) Both statements are incorrect
d) Both statements are correct.

IRDA Agent Licensing Question paper


1) The route or process through which a product is carried to the customer is known as _________________

2) Age nearer birthday as on 18/06/2000 of a person with date of birth 28/12/1961 is ________

3) The days of grace for monthly mode of premium is ___________ days.

4) EDLI scheme is linked to the payment of ________________ (Gratuity / Provident fund / pension)


Write yes or no indicate whether the following request will be allowed by the LIC or not.

5) The proposal dated 05.10.2000 for Rs.1,50,000 under table 14-18 requests that the policy be made to commence from 28.03.2000 as the date of birth of the life to be assured is 28.12.1973 .

6) Policy commenced on 01.07.1992 and lapsed because the annual premium due 01.07.1994 was not paid. Request received on 30.06.2000 for revival.

7) Father insuring his son aged 8 under the New CDA plan requests that the son’s life be covered from inception.

8) Policy paid up for Rs.4, 000 matured for payment on 30.09.2000. Policyholder reports that the policy is lost and requests that the claim be settled without advertisement and indemnity bond.

9) Policyholder requests that his Without Profit policy be made a with profits policy

10) Policyholder requests that policy issued with Annual Premium, be brought under the Salary Savings Scheme, as he has now joined a company

11) Policy commenced on 10.07.2000. A request is made on 10.09.2000 that the policy be brought under the M.W.P. Act


True or False

12) A maturity claim will be paid to the nominee.
13) The amount of bonus that vests is the same for all policies issued by the L.I.C.
14) Living too long is a risk.
15) An annuity is the same as a pension.
16) A son has no insurable interest in the father.
17) A sub-standard life is a person below the poverty line
18) An agent is not authorized to collect renewal premium.
19) An agent’s role is over after the policy is issued.
20) The maximum age entry is the same for all plans of insurance.
21) Extra premium is charged for moral hazard.
22) A lady clerk in a bank will be considered for insurance on the same terms as male lives
23) In an Immediate Annuity policy the annuity payment begins within the first year of the policy.
24) The proposal form should be written by the agent himself.


In respect of each of the words in column ‘A’ finds corresponding word in column ‘B’


Column ‘A’ Column ‘B’

25) Actuary Death _____________

26) Annuity Department _____________

27) Assignment Pension _____________

28) Communication Persuasion _____________

29) Insurance Premiums _____________

30) Mortality Pure Risk _____________

31) Motivation Recognition _____________

32) Organisation Sharing _____________

33) Term Assurance Surplus _____________

34) Valuation Transfer ___________




State whether the actions on the part of the agent in the following situations are right or wrong.

35) To a query from the prospect about the tax advantages in the proposed policy, the agent replies, “why do you bother? You just tell me how much money you can and I will work out the best policy for you.

36) Going through the existing polices of a prospect whom he is meeting for the first time, the agent suggests that he should allow three of them to lapse and go in for new policies straight away.

37) A proponent called up agent to know why a particular medical test was being asked by the office and the agent said he was not aware of the same and would revert to the matter the next day.

38) The agent was surprised to receive the copy of the letter written by the office to the wife of the insured, forwarding the forms to make a death claim.

39) Going through the existing polices of a prospect whom he is meeting for the first time, the agent suggests that nominations be made and offers to get them registered by the office.

40) The agent had left his identity card at home, when he was visiting a prospect.

41) An agent insists that all his policyholders should send the premium cheques to him, so that he can ensure that delay’s do not happen through oversight.

42) An agent tells a prospect, who is raising an objection, “why don’t you wrong. Understand this simple basic thing?”

43) When a policyholder complained that nobody in the insurance office was answering the telephone, the agent said that the office was in a mess and that the Managers were quite incompetent.

44) An agent being friendly with the assistant in the new business department, used to keep track of the new proposals and try to get business from the same parties.

45) Agency license is valid for a period of
a) 1 yrs
b) 2 yrs
c) 5 yrs
d) 3 yrs

46) The body constituted to receive and resolve grievances against an insurer is?____________

47) An insurance broker is

a) Representative of the state
b) Representative of the client
c) Representative of the insurer


48) Who shall conduct tests for licensing agents?
a) IRDA
b) NSE
c) III
d) LIC

49) When does an insurance policy lapse?
a) Stopping of bonuses
b) Assured is declared dead
c) Insurable interest of proposer ceases to exist
d) Stopping of periodical payments
e) Any of the above

50) When does a policy acquire paid up value?---------------.after 3 full year premiums payment

51) An assignment usually affected for valuable consideration is called:__________________ _________________


52) A policy can be surrendered, provided the policy is kept in force at least for a period of: ______________.


53) Which of the following policy is not eligible for loan?
a) Whole life - participating
b) Endowment
c) Money back
d) Whole life – non participating

54) What is the basis of contract between the policyholder and the insurer?
a) The Insurance act
b) The IRDA act
c) The Contract act
d) The Proposal Form

55) The cash value payable by LIC on termination of the policy contract at the desire of the policyholder but before the expiry term is known as :

__________________ __________________________.
56) Back Dating is an option to the life assurer to get the advantage of lower age wherein the policy is commenced from a date earlier than the date of signing of proposal form. However back dating is limited to one year.
True/False

57) What is the discount offered in case of
Annual premium ------------------ 3%
Semi annual ------------------ 1.5%

58) If FPR is submitted along with application the risk would be covered -True / False

59) Under the insurance act 1938, insurance against sickness and medical treatment is NOT part of life insurance business, it gets covered under miscellaneous business, which is part of general insurance business.
(T/F)

60) In many other countries health insurance is considered as part of the life insurance business.
(T/F)

State True or False

61) An agent must be of 21 years of age at least.

62) An agent can sell policies even without a license.

63) IRDA issues license to an agent.

64) 100 hours of training is a prerequisite for appearing in the recruitment examination.

65) An agents’ license is valid for 5years.
  #3  
26th November 2019, 09:30 AM
Unregistered
Guest
 
Re: IRDA Exam Question Paper in Bengali

Can you provide me the previous year question paper for Insurance Regulatory and Development Authority (IRDA) exam as I need it for preparation of the examination?
  #4  
26th November 2019, 09:35 AM
Super Moderator
 
Join Date: Oct 2019
Re: IRDA Exam Question Paper in Bengali

The previous year question paper for Insurance Regulatory and Development Authority (IRDA) exam is as follows:


1) Potential purchaser of product is called ________________
(a) Prospect
(b) Consumer
(c) Customer
(d) Client

(2) If policyholder is in grievance,__________________ will solve
(a) Grievance officer
(b) Court order
(c) Ombudsman
(d) All the above

(3) 20,000 policies in the 5th year are to be made from _________sector
(a) Rural
(b) Social
(c) None
(d) Urban

(4) Insurance Agent is governed by ____________________
(a) Contract act
(b) Insurance Act
(c) IRDA
(d) All above

(5) Doctors appointed by insurers will be _____________
(a) General Physicians
(b) Specialists
(c) Surgeons
(d) All of above

(6) __________is the document produced to establish one’s age
(a) Birth Certificate
(b) Affidavit
(c) License
(d) Proof of age

(7) Who is the person who identifies the customer and get the necessary insurance for him ?
(a) Intermediary
(b) Retailer
(c) Broker
(d) Agent

(8) Which kind of Insurance plan can meet all need of a proponent?
(a) Endowment
(b) Money Back
(c) Multipurpose
(d) None of them

(9) The principal is responsible for __________ agent
(a) All the acts of agent
(b) Specified acts of agent
(c) Some of acts agent
(d) None of them

(10) Which of the following statements are True:
a) It is the agent’s responsibility to ensure that all material information is made available
b) If the proposal paper is incomplete, the agent will be held accountable
(a) A Statement
(b) B Statement
(c) Both Statement
(d) Neither of Statement



(11) In the case of a policy under the provision of M.W.P. ACT who can make the death claim?
(a) Beneficiary
(b) Life insured Heirs
(c) Trustee
(d) Any of the above

(12) Which kind policies are not entitled bonuses?
(a) Non participatory
(b) Money back
(c) Children’s
(d) Whole life

(13) Claim in question is Rs.23 lakh which consumer court will it go to:__________

(14) A policy which has run for 8 years can be called into question if there is a__________________
(a) Fraud
(b) Misrepresentation
(b) Mistake
(c) None of above

(15) What would be the paid up value of a 25-year-old endowment policy for Rs.50, 000 taken in Oct 1988, if the last ½ year’s premium paid was in Oct 2000?____________

(16) Which of the following statements are True:
a) An insurance agent can be sued under the Consumer Protection Act
b) The Consumer Protection Act does not apply to Govt. Company.
a) A Statement
b) B Statement
c) Both Statements
d) Neither of Statement

(17) If the proponent has no insurable interest in the insured the underwriter will
(a) Accept with reduce sum assured
(b) Decline the proposal
(c) Accept with lien
(d) Accept with extra premium

(18) What is paid by the insurer when the policyholder decides to discontinue the policy
(a) Forfeiture
(b) Surrender Value
(c) Intermediate Claim
(d) Lapse

(19) A person employed to act on behalf of another in dealing with a third person is called _____________
(a) Lawyer
(b) Broker
(c) Employee
(d) Agent

(20) Which are true
a) Proof of age is necessary for proposal and not for agency application
b) After business is complete agent has no role
a) A Statement
b) B Statement
c) Both Statements
d) Neither of the Statement

(21) Which are true
a) Insurance is necessary to cover risk of living too long
b) Insurance helps one to be less dependent on others
a) A Statement
b) B Statement
c) Both Statements
d) Neither of the Statement

(22) Which statement is not appropriate
A) When the prospect said that he had taken sick leave for a few days because he wanted to go outstation for an interview, the agent suggested he need not mention it
B) Agent suggested to the prospect not to mention the fact that the cause of death of one of the brothers who had died young was cardiac arrest, it was mentioned as accident
a) A Statement
b) B Statement
c) Both Statements
d) Neither of the Statement

(23) Which statement is not appropriate
A) The necessity for medical examination depends on S.A.
B) The nature of employment may be a factor to dispense with medical exam
a) A Statement
b) B Statement
c) Both Statements
d) Neither of the Statement

(24) Why does an office conduct special inquiry in the case of death claim which arose after 4 years
(a) As precaution
(b) As a Routine
(c) On suspicion of suppression of facts
(d) For large sum assured

(25) Loans is available only in the policy if
(a) It is a with profit policy
(b) The S.A exceeds Rs.10,000/-
(c) It is in facts underwriter decision
(d) None of the above

(26) Which statement is true
A Lapsed policy can be revived whenever the policy holder choose
B A paid up policy is a lapsed policy
(a) Only statement A
(b) Only statement B
(c) Both false
(d) Both statement

(27) When do the non-forfeiture provision apply
a) When policy is surrendered
b) When loan is taken
c) When premium is not paid
d) All above

(28) True – False
A – DAB is automatic in all life insurance policies
B- DAB is an option on payment of additional payment

(29) True – False
A – Insurance works on the law of large numbers
B – Insurance is possible only when there are many policyholders


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