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16th May 2016, 02:24 PM
Super Moderator
 
Join Date: May 2012
Re: Crack IRDA Exam

Hey buddy below I am giving you the IRDA Exam Pattern and some questions to practice for the same


IRDA Exam Pattern

Name of the Section Questions Marks

Reasoning Ability 40 40

English Language 40 40

General Awareness 40 40

Quantitative Aptitude 40 40

Total 160 160

IRDA Marking Scheme:

Similar to most recruitment exams, there will be negative marking for incorrect answers. The following method has been adopted by IRDA Prelims Exam.

For right answer, 1 mark will be added to total score.
For wrong answer, 0.25 mark will be deducted from total score.

IRDA questions


Which one of the following statements is correct?
a The beneficiaries under the MWP Act can be any member of the family
b A policy can be taken under the MMWP Act for the benefit of parents
c Both the statements above are correct
d Both the statements above are wrong

Which one of the following statements is correct?
a Foreclosure can be done only with the consent of the policyholder
b Foreclosure can be done only after informing the policyholder
c Both the statements above are correct
d Both the statements above are wrong


Which one of the following statements is correct?
a Revivals are not done unless the entire outstanding premium is paid
b Revivals are not done unless the underwriter agrees
c Both the statements above are correct
d Both the statements above are wrong

Which one of the following statements is correct?
a Foreclosure action cannot be taken till a notice is served on the policyholder
b When a foreclosure action is taken, nothing is payable to the policyholder
c Both the statements above are correct
d Both the statements above are wrong

Which one of the following statements is correct?
a The beneficiaries under the MWP Act can be any member of the family
b A policy can be taken under the MMWP Act for the benefit of parents
c Both the statements above are correct
d Both the statements above are wrong

Which one of the following statements is correct?
a A presumption of death is not the same as proof of death
b Presumption of death allows inheritance of property
c Both the statements above are correct
d Both the statements above are wrong

When does a claim arise under an insurance policy?
a Whenever the policyholder feels the need for money
b When the insured events happen
c When a premium is not paid
d Whenever any of the three things mentioned above happen

Which one of the following statements is correct?
a Maturity claim cheques are paid to the trustees in a MWP Act case
b Maturity claim cheques are paid to the beneficiaries in a MWP Act case
c Both the statements above are correct
d Both the statements above are wrong


If a claim is made in January 007 under a policy, which commenced in May 00, stating that the life insured had died in April 004,
a Section 45 of the Act will not apply
b The claim can be treated as an early claim
c Foul play must be suspected
d All the three statements above are correct

Which one of the following statements is correct?
a A policy reported to be lost, may actually have been assigned
b A policy has no value after the payment of survival benefits
c Both the statements above are correct
d Both the statements above are wrong

Which one of the following statements is correct?
a The foreign exchange regulations apply if the life insured is a non-resident
b The foreign exchange regulations apply if the claimant is a non-resident
c Both the statements above are correct
d Both the statements above are wrong

State which of the following statements is correct
a ULIPs provide for flexibility
b ULIPs are better than traditional policies
c Both the above statements are correct
d Both the above statements are wrong

State which of the following statements is correct
a In ULIPs, the offer bid spread is the difference between the two prices
b In ULIPs, the offer bid spread, will in some cases be zero
c Both the above statements are correct
d Both the above statements are wrong

State which of the following statements is correct
a In ULIPs the insurance cover must be a minimum multiple of the premium
b ULIPs can be surrendered after two years
c Both the above statements are correct
d Both the above statements are wrong

State which one of the following statements is correct
a Life insurance is the best savings scheme for all persons
b Life insurance is the best investment scheme for young persons
c Both the statements above are correct
d Both the statements above are wrong

Which of the following statements is correct?
a An insurance agent has fixed working hours
b An insurance agent has to mark his attendance in office every day
c An insurance agent works according to his schedule
d An insurance agent cannot do any other work

State which one of the following statements is correct
a When vital information is not disclosed, the policyholder is benefited
b When a claim is repudiated, the agent’s trustworthiness is affected
c Both the statements above are correct
d Both the statements above are wrong

State which one of the following statements is correct?
a The social sector is not only in the urban areas
b The social sector includes the unorganized sector
c Both the statements above are correct
d Both the statements above are wrong


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