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  #2  
2nd March 2016, 01:14 PM
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Re: Reliance Irda Exam

Sir I am looking for the IRDA Exam question paper so can you please give me the same
  #3  
2nd March 2016, 01:15 PM
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Join Date: May 2012
Re: Reliance Irda Exam

Hi friend here I am giving you the IRDA Exam question paper

Attempt IRDA Mock test Questions for IRDA Insurance Agents Exam from IC33 from The Insurance Times. Extracts from Question/Answer Book published by Sashi Publications, Kolkata. Refer the book for detailed questions on each chapter. ( Answers are marked in Bold)
Q. Find the odd man out:
Insurance
A) Is a contract between the Insurance Company and the policyholder.
B) Is the process of transferring the risk from the owner(Insured person).
C)Can prevent the insured event from happening.
D) It can provide compensation for the loss that comes as a result of the insured event happening.

Q. Which of the following are the roles played by the Insurance at the individual level.
A) Insurance companies provide tax benefits to the policyholders.
B) Insurance companies offering products which are designed to suit the needs of individuals of different age groups.
C) Both A and B
D) None of the above

Q. For how many life insurance companies at a time an individual can act as an insurance agent?
A) 1 B) 2
C) 3 D) 4

Q. In insurance terms, the risk of suffering a disability is best described as what type of risk?
A. Financial. B. Fundamental.
C. Homogenous. D. Speculative.

Q. Insurance companies maintained which of the following pools separately?
A) Life Insurance B) Car Insurance
C) Home insurance D) All the above

Q. An insurance contract is an agreement between insurance company and the insured person.
A) Enforceable by law
B) Can not be enforce by law
C) Either A and B
D) None of these

Q. Breaches of the duty of utmost good faith can be categorized into
A) Non- disclosure
B) Concealment
C) Fraudulent misrepresentation.
D) All the above
E) None of these

Q. Most policies are written on what is known as
A) Multiple life basis B) Double life basis
C) Single life basis D) None of the above

Q. Odd man out:
Insurance companies accept which of the following as standard age proof documents to verify the age of the proposer.
A) A certificate from school or college records.
B) A certificate extract from registrar of births and deaths or from municipal records made at the time of the birth.
C) A horoscope prepared at the time of the birth.
D) A passport

Q. What is the first step of the process of insurance underwriting?
A) Analyse the risk associated
B) Collect information about the applicant
C) Estimate the potential exposure
D) Determine the probability of loss

Q. Which of the following bonus are given by the insurance companies?
A) Simple revisionary bonus
B) Compound revisionary bonus
C) Terminal bonus
D) Interim Bonus
E) All the above

Q. The role of the agent in underwriting
A) The agent has to ensure that the proposal form submitted is completely filled out by the proposer.
B) If the agent is helping to complete the form, they should fill it out honestly and accurately.
C) Being direct contact with proposer, the agent is in a good position to assess why the proposer wants to take out insurance.
D) All the above
E) None of the above

Q. Odd man out:
Features of convertible insurance plans:
A) This insurance plan can be converted from one type to another.
B) A convertible plan is useful when the life insured can not initially afford to pay a higher premium.
C) At the time of the plan conversion the life insured is required to undergo a medical check- up.
D) Advantage of convertible plans is that at the time of conversion there is no further underwriting decision to be made.

Q. In which year IRDA issued guidelines on Group insurance policies.
A) 2000 B) 2003
C) 2005 D) 2009

Q. Find the odd man out:
A) Unit linked insurance plans offer the benefits of both life insurance and return on investment.
B) ULIP gives the insured the option to participate in the growth of the capital markets.
C) On the death of the insured the sum insured or the market value of the investment whichever is higher, is paid.
D) On maturity of the plan the fund value is not payable.

Q. Naveen is addressing his income needs by investing directly in corporate bonds. In what form will he receive this income?
A) Annuity installments.
B) Dividend payments.
C) Interest payments.
D) Rental payments.

Q. Find the odd man out
Post offices in India offer which of the following savings products?
A) National savings Certificate
B) Kissan Vikas patra
C) Public provident fund
D) Government securities

Q. The general need for a pension policy results from the existence of what key problem?
A) Anticipated fall in income.
B) Lack of employment opportunities.
C) Likely deterioration in health.
D) Uncertainty over investment performance.

Q. An annuity is a
A) One time payments from an annuity provider to an annuitant.
B) Series of regular payments from an annuity provider to an annuitant.
C) Irregular payments from an annuity provider to an annuitant.
D) None of the above

Q. Which type of the following questions falls under the classification by structure category?
A) Information seeking question.
B) Questions for collecting additional information.
C) Open ended question
D) Questions to check meaning for understanding.

Q. Find the odd man out:
Assets of the client include:
A) Main residence, other real estate property, plots of land.
B) Vehicle loan, educational loan, business loan.
C) Investments in gold, silver and other precious materials
D) Investments, fixed income securities like bank fixed deposits, government securities, public provident fund etc.

Q. Insurance agents who are responsible for selling life insurance products to clients, must obtain a licence from IRDA under which section of the insurance act 1938
A) Section 40 B) Section 42
C) Section 43 D) Section 44

Q. Find the odd man out:
Which of the following are the duties and responsibilities of an insurance agent?
A) To have an excellent knowledge of the various insurance products offered by the insurance company and to understand the different benefits and features offered by each product.
B) To ensure that the proposal form is correctly filled in and that all the information provided by the clients is correct.
C) Not to disclose to the clients of commission in respect of the insurance product offered for sale, if asked by the prospective client.
D) To help legal beneficiaries with the claims settlement process when a claim arises.


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