#1
16th August 2014, 12:23 PM
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IRDA LIC Agent Recruitment Exam Question Paper
Will you please provide the question paper of IRDA LIC Agent Recruitment Exam organised by NSEIT?
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#2
16th August 2014, 01:12 PM
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Re: IRDA LIC Agent Recruitment Exam Question Paper
As you are looking for the IRDA Agents Exam question paper , here I am providing list of few questions for your idea. 1) Insurance works on the principle of a Trust b Sharing c Randomness d All of the above 2 Insurance is legitimate a when an adverse happening is likely b When an adverse happening is unlikely c When an adverse happening is certain d In all the above three situations 3 Insurance benefits replace a All physical losses, in full b All physical losses, partly c All monetary losses, in full d The monetary losses, but only to some extent 4 Which one of the following statements is correct? a People hesitate to buy life insurance because they are not aware of their needs b People hesitate to buy life insurance because they prefer to enjoy the present c Both the statements are correct d Both the statements are wrong 5 Which is the right time for taking life insurance? a When you are about to get married b Soon after you have got married c Just when you are joined a new job d All the three ‘times’ are right 6 Retention of risk may be done conveniently by a Large corporations b Small companies c Single individuals d None of the three 7 A valuation is done by a life insurer because a It is a statutory requirement b It is necessary to be able to declare dividends to shareholders c It tells the insurer how well it is managing the business d All of the above 8 The reason for charging level premiums is a Risk increases as age increases b It is convenient to the policyholder c It is convenient to the insurer d All the above reasons 9 What does a premium depend upon? a The place of worship visited by the person to be insured b The state of health of the policyholder c The decision of the underwriter d The report of the agent 10 State which one of the following statements is correct? a In group insurance, a single policy is issued covering many persons b A master policy covers servants of a master c Both the statements above are correct d Both the statements above are wrong 11 Which one of the following statements is correct? a In a limited payment policy, there is a maximum limit to the SA b In a limited payment policy, there is a maximum limit to the term c Both the statements above are wrong d Both the statements above are correct 12 Which one of the following statements is true with regard to Children’s policies? a On vesting, the insured person has an option to change the term of the policy b On vesting the insured person has an option to increase the SA c Both the statements above are wrong d Both the statements above are correct 13 Which of the following could be the basis of the cover in a group policy? a Height of the life insured b Age of the life insured c Size of the insured’s family d All the three above 14 Which one of the following statements is true with regard to Children’s policies? a On vesting, the insured person has an option to change the term of the policy b On vesting the insured person has an option to increase the SA c Both the statements above are wrong d Both the statements above are correct 15 Which one of the following statements is correct? a Every plan of insurance is a combination of two basic plans b The name given to a plan indicates the benefits available under the plan c Both the statements above are correct d Both the statement s above are wrong 16 Which one of the following statements is correct? a Underwriting is done only when there is a medical examination b Medical examination is necessary before a policy can be issued c Both the statements above are correct d Both the statements above are wrong 17 Which one of the following statements is correct? a The underwriter determines the premium to be charged b The underwriter is an employee of the insurer c Both the statements above are correct d Both the statements above are wrong 18 Which one of the following statements is correct? a If the underwriter feels that the risk is more, he will accept at OR b If the underwriter feels that the risk is more, he may impose a lien c Both the statements above are correct d Both the statements above are wrong 19 Which one of the following statements is correct? a The schedule of a policy is not altered after the policy is issued b Changes in the terms of the policy are made through endorsements c Both the statements above are correct d Both the statements above are wrong 20 The date of issue of the FPR indicates a The date when the risk effectively begins b The date when the next premium falls due c The date when the policy will commence d None of the above 21 Which one of the following statements is correct? a In the case of SSS policies, renewal premium receipts are issued b In the case of SSS policies, FPRs are issued c Both the statements above are correct d Both the statements above are wrong 22 Which one of the following statements is correct? a Assignee is free from the assignor’s obligations under the policy b A nomination is automatically cancelled when a loan is taken under the policy c Both the statements above are correct d Both the statements above are wrong 23 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 24 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 25 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 26 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 27 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 28 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 29 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 30 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 31 If a claim is made in January 2007 under a policy, which commenced in May 2002, stating that the life insured had died in April 2004, 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 32 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 33 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 34 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 35 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 36 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 37 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 38 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 39 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 40 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 41 State which one of the following statements is correct? a The Ombudsman’s authority is limited to claims matters only b The Ombudsman is not a judicial authority c Both the statements above are correct d Both the statements above are wrong 42 State which one of the following statements is correct? a The tax provisions are the same for all kinds of savings b The tax provisions are included in the Constitution c Both the statements above are correct d Both the statements above are wrong 43 A proposal for SA of Rs. 10 lakhs with DAB for monthly mode under SSS. Proposer had a previous policy of Rs. 5 lakhs with DAB. Proposal was accepted with health extra of Rs. 2.75 per thousand SA premium for DAB Re 1 per thousand. 5% extra for monthly mode. large SA rebate of Rs 2/- per thousand for 1 lakh and above. Tabular premium Rs. 48.20 maximum total SA on which DAB is allowed is Rs. 10/- lakhs. Find monthly (SSS) premium, rounded off to the next higher rupee a 4102 b 4121 c 4183 d 4195 44 Find out surrender value on the basis of following data (the answer to be rounded off to the next lower rupee). SA Rs.30, 000 DOC- 15.6.1992, Endowment with profit – 30 years Due date of last premium paid 15-06-2007 mode half yearly Accrued bonus Rs.750/- per thousand SA. SV factor 23% a 3670 b 3765 c 8740 d None of these 45 A money back policy for SA. of Rs.50,000/- Matured after 25 years. Survival benefits of 15% each had been paid at the end of 5th, 10th, 15th, and 20th years. Bonus had accrued at Rs.965/- per Rs.1000/- SA. Interim bonus @ Rs.25/- per thousand SA is payable. What is the maturity claim amount? a 68250 b 69500 c 98250 d 99500 Correct Answers Practice Paper 1 d 16 d 31 d 2 a 17 c 32 a 3 d 18 b 33 c 4 c 19 c 34 a 5 d 20 a 35 c 6 a 21 b 36 a 7 d 22 d 37 d 8 d 23 d 38 c 9 c 24 b 39 b 10 a 25 d 40 c 11 c 26 a 41 b 12 c 27 d 42 d 13 b 28 c 43 b 14 c 29 b 44 c 15 a 30 a 45 b |
#3
24th December 2015, 04:07 PM
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Re: IRDA LIC Agent Recruitment Exam Question Paper
Hello Guys , Here Will you please Provide me Previous year IRDA LIC Agent Exam Question Paper , for m y Exam Preparation ?
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#4
24th December 2015, 04:08 PM
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Re: IRDA LIC Agent Recruitment Exam Question Paper
Friend As on your Asking Here I am providing Previous year IRDA LIC Agent Exam Question Paper : Question 1 Amruta is pregnant. She has applied for a term insurance cover. Which of the below option will be the best option to choose for an underwriter to offer insurance to Amruta? Choose the most likely option. A Acceptance at ordinary rates B Acceptance with extra premium C Acceptance with a restrictive clause D Decline the proposal Question 2 Which among the following is a non-traditional life insurance product?A Endowment insurance B Universal life insurance C Whole life insurance D Term assurance Question 3 Mahesh has bought a life insurance policy with a critical illness rider. He has made absolute assignment of the policy in favour of Karan. Mahesh suffers a heart attack and there is a claim of Rs. 50,000 under the critical illness rider. To whom will the payment be made in this case?A Karan B Mahesh C The payment will be shared equally by Mahesh and Karan D Neither of the two because Mahesh has suffered the heart attack but the policy is assigned in favour of Karan Question 4 An insurance broker represents _______.A Insurance company B Community of people who have already taken insurance C Insured D Association of insurance companies Question 5 For an insurance policy nomination is allowed under _________ of the Insurance Act, 1938.A Section 10 B Section 45 C Section 39 D Section 38 Question 6 _____________ relates to inaccurate statements, which are made without any fraudulent intention.A Offer B Representation C Contribution D Misrepresentation Question 7 For the subsequent premiums received by the insurance company after the first premium, the company will issue _________A Restoration premium receipt B Revival premium receipt C Renewal premium receipt D Reinstatement premium receipt Question 8 What is the time limit for approaching an Insurance Ombudsman?A Within two years of rejection of the complaint by the insurer B Within one year of rejection of the complaint by the insurer C Within three years of rejection of the complaint by the insurer D Within one month of rejection of the complaint by the insurer Question 9 Health insurance is designed to handle which of the following risks?A Infinity B Mortality C Serendipity D Morbidity Question 10 “Hurt not others with that which pains yourself”. This golden rule of ethics is given in the teaching of which religion?A Christianity B Buddhism C Hinduism D Judaism Question 11 Money laundering is the process of bringing _______ money into an economy by hiding its _______ origin so that it appears to be legally acquired.A Illegal, illegal B Legal, legal C Illegal, legal D Legal, illegal Question 12 Which of the below losses are covered under keyman insurance?A General liability B Losses caused due to errors and omission C Losses related to the extended period when a key person is unable to work D Property theft Question 13 Which of the following condition will affect a person’s insurability negativA Lazy nature B Daily jogs C Banned substance abuse D Procrastination Question 14 Which among the following is an intangible product?A Life insurance B Car C House D Soap Question 15 Mortgage redemption insurance (MRI) can be categorised under ___A Universal life assurance B Variable life assurance C Decreasing term life assurance D Increasing term life assurance Question 16 The term TPA refers to ________. (Answer with regards to health insurance)A Third Party Assistance B The Primary Associate C Third Party Administrator D To Provide Assistance Question 17 An individual with an aggressive risk profile is likely to follow wealth _______investment style.A Spending B Consolidation C Accumulation D Gifting Question 18 Who provides public pensions?A Insurers B Employers C State D NGO’s Question 19 In decreasing-term insurance, the premiums paid ____________ over time.A Increase B Remain constant C Decrease D Are returned Question 20 In decreasing-term insurance, the premiums paid ____________ over time.A Remain constant B Decrease C Are returned D Increase Question 21 During which stage of life will an individual appreciate past savings the most?A Learner B Post retirement C Just married D Earner Question 22 If complex language is used to word a certain policy document and it has given rise to an ambiguity, how will it generally be construed?A In favour of insurer B In favour of insured C The policy will be declared as void and the insurer will be asked to return the premium with interest to the insured D The policy will be declared as void and the insurer will be asked to return the premium to the insured without any interest Question 23 Which among the following cannot be termed as an asset?A Human Life B Air C Car D House Question 24 Risk transfer through risk pooling is calledA Insurance B Risk Mitigation C Investment D Savings Question 25 Which of the below statement is correct?A Selling is a science and not an art B Selling is an art and not a science C Selling is neither an art or a science D Selling is both an art and a science Question 26 is the fees payable to the Authority for issue / renewal of licence to Act as an insurance agent or composite insuranceA 150 B 100 C 250 D 520 |
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