IRDA Insurance Exam Mock Test

Hello, I am applying for the IRDA exam and I want to give the mock test for the preparation and I want the questions for preparation.

[Shaleen]

Hello, here I am providing you the questions of the IRDA exam of previous years as under:

1. The process of determining if the claim can be paid is called ————
a) admission b) acceptance c) consideration d) decision

2. What criteria are relevant to compare different savings plan?
a) Safety b) Liquidity c) Yield d) All of the above

3. The limits of doctors for medical examination are decided by ————-
a) Insurer b) Medical Council c) Government d) IRDA

4. The questions in the proposal form and personal statement are material and relevant
a) without exception b) mostly c) only partly d) rarely

5. Which of the following statements are “TRUE” ?
Statement A : A paid up policy can be revived.
Statement B : The insurer may refuse to issue a new policy if an earlier one is paid up.
a) Only statement A b) Only statement B c) Both statements d) Neither of the statement

6. To whom should license be paid ?
a) Controller of Insurance b) The insurer c) The IRDA d) Any of the above

7. A proposal is dated 10.11.2000. The premium was paid on the same day. The decision to accept with extra was made on 15.11.2000. The extra premium was paid on 17.11.2000. The letter of consent was received in the office on 21.11.2000. When does the risk on this policy commence ?
a) 10.11.2000 b) 17.11.2000 c) 20.11.2000 d) 15.11.2000

8. Which of the following statements are “TRUE” ?
Statement A : The principle of utmost good faith is the same as the principle of Buyers beware
Statement B : The existence of high blood pressure need not be disclosed as the doctor can find this out during the medical examination.
a) Only statement A b) Only statement B c) Both statements d) Neither of the statement

9. ————– are statements made by the prospect raising doubts about the usefulness of the insurance.
a) Objections b) Refusals c) Queries d) Disagreements

10. In what plan of insurance is medical examination never required, whatever be the amount of Sum assured?
a) Endowment b) Pure endowment c) Term assurance d) Group insurance

11. The limits of authority of an agent are laid down by the ————-
a) Insurance Act b) Contract Act c) Appointment Letter d) None of the above

12. Which of the following statements are “TRUE” ?
Statement A : The necessity for a medical examination depends only on the Sum assured.
Statement B : The nature of employment may be a factor to dispense with medical examination.
a) Only statement A b) Only statement B c) Both statements d) Neither of the statement

13. ———– describes the behaviour of an agent who is willing to accept that a particular customer may not need life insurance
a) Defeatist b) Timid c) Professional d) Non professional

14. Section 45 of the Insurance Act is relevant for policies which are at least ——— years old.
a) Two b) Four c) Both statements d) Neither of the statements

15. Which of the following statements are “TRUE” ?
Statement A : In a group policy, each person is free to choose the amount of insurance cover.
Statement B : A person, normally uninsurable, can be covered under a group insurance policy.
a) Only statement A b) Only statement B c) Both statements d) Neither of the statement

16. Infimities are caused by ————–
a) Rs. 3 lakhs b) Rs. 10 lakhs c) Rs. 13 lakhs d) None of the above

17. If a person’s annual income is Rs. 3 lakhs and he has assets (proper and share) worth 10 lakhs he can be given a maximum insurance cover of ————-
a) Rs. 3 lakhs b) Rs. 10 lakhs c) Rs. 13 lakhs d) None of the above

18. Which of the following statements are “TRUE” ?
Statement A : When a policy matures, the claim proceeds are paid to the assured.
Statement B : In insurance, the principle of buyer beware applies.
a) Only statement A b) Only statement B c) Both statements d) Neither of the statement