Which of these is a private sector general insurance company in India?
A. New India Assurance Company Limited
B. Bajaj Allianz
C. National Insurance Company Limited
D. The Oriental Insurance Company
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A specialist in the mathematics of insurance who calculates rates, reserves, dividends and other statistics is called?
A. Actuary
B. Birjoo
C. Amola
D. Prixam
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In the case of a policy under the provision of M.W.P. ACT who can make the death claim?
A. Beneficiary
B. Life insured Heirs
C. Trustee
D. Any of the above
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Which kind policies are not entitled bonuses?
A. Non participatory
B. Money back
C. Children’s
D. Whole life
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A policy which has run for 8 years can be called into question if there is a_________
A. Fraud
B. Misrepresentation
C. Mistake
D. None of the above
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What is paid by the insurer when the policyholder decides to discontinue the policy
A. Forfeiture
B. Surrender Value
C. Intermediate Claim
D. Lapse
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A person employed to act on behalf of another in dealing with a third person is called _________
A. Lawyer
B. Broker
C. Employee
D. Agent
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Insurance Agent is governed by _________
A. Contract act
B. Insurance Act
C. IRDA
D. All of the above
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Which of the below mentioned insurance plans has the least or no amount of savings element?
A. Term insurance plan
B. Endowment plan
C. Whole life plan
D. Money back plan
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Which among the following cannot be termed as an asset?
A. Car
B. Human Life
C. Air
D. House
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Which of the below is the most appropriate explanation for the fact that young people are charged lesser life insurance premium as compared to old people?
A. Young people are mostly dependant
B. Old people can afford to pay more
C. Mortality is related to age
D. Mortality is inversely related to age
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Which of the below is not an advantage of cash value insurance contracts?
A. Safe and secure investment
B. Inculcates saving discipline
C. Lower yields
D. I.T. advantages
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Which of the below is an advantage of cash value insurance contracts?
A. Returns subject to corroding effect of inflation
B. Low accumulation in earlier years
C. Lower yields
D. Secure investment
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Which element of a valid contract deals with premium?
A. Offer and acceptance
B. Consideration
C. Free consent
D. Capacity of parties to contract
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_________ involves pressure applied through criminal means.
A. Fraud
B. Undue influence
C. Coercion
D. Mistake
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Which among the following is true regarding life insurance contracts?
A. They are verbal contracts not legally enforceable
B. They are verbal which are legally enforceable
C. They are contracts between two parties (insurer and insured) as per requirements of Indian Contract Act, 1872
D. They are similar to wager contracts
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Which of the below is not a valid consideration for a contract?
A. Money
B. Property
C. Bribe
D. Jewellery
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Which of the below party is not eligible to enter into a life insurance contract?
A. Business owner
B. Minor
C. House wife
D. Government employee
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Find out the proximate cause for death in the following scenario? Ajay falls off a horse and breaks his back. He lies there in a pool of water and contracts pneumonia. He is admitted to the hospital and dies because of pneumonia.
A. Pneumonia
B. Broken back
C. Falling off a horse
D. Surgery
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An individual with an aggressive risk profile is likely to follow wealth _________ investment style.
A. Consolidation
B. Gifting
C. Accumulation
D. Spending
Select an option to see the answer and solution.