IRDA Model Exam IC 33

Hello, I want the model exam paper of the IC 33 of the Insurance Regulatory and Development Authority of India.

[Pathak]

Hello, here I am providing you the exam paper of the IC 33 of the Insurance Regulatory and Development Authority of India as under:

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 negativ
A
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