sr_no stringlengths 1 3 | question_body stringlengths 13 459 | alternatives dict | correct_alternative stringclasses 4
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371 | Who conducts the investigation to determine the cause and extent of loss if the claim amount is small? | {
"1": "An officer of the insurer",
"2": "An independent licensed professional surveyor",
"3": "A court of law",
"4": "The insured"
} | 1 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
372 | Why is an investigator's report sometimes necessary to assess a fire claim? | {
"1": "To determine the cause of the fire",
"2": "To confirm the value of the insured property",
"3": "To verify the insured's identity",
"4": "To determine the insured's eligibility for coverage"
} | 1 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
373 | Which of the following is NOT true about how motor insurance claims are assessed in India? | {
"1": "Motor third party claims involving death and personal injuries are assessed on the basis of doctor’s report",
"2": "Claims involving third party property damage are assessed on the basis of a survey report",
"3": "Motor own damage claim is assessed on the basis of police report",
"4": "The amount to be ... | 3 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
374 | What is the purpose of investigation in the context of insurance claims? | {
"1": "To assess the amount of loss or damage incurred",
"2": "To ensure that a valid claim has been made and rule out any doubts about the claim",
"3": "To determine whether a claimant has a good driving record",
"4": "To decide whether or not to approve the claim based on the policyholder's past claims histo... | 2 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
375 | Who hires surveyors and loss assessors? | {
"1": "The policyholder",
"2": "The insurance company",
"3": "The government",
"4": "The surveyors and loss assessors themselves"
} | 2 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
376 | What regulations govern the work of surveyors? | {
"1": "The Indian Contract Act, 1872",
"2": "The Consumer Protection Act, 1986",
"3": "The Insurance Act, 1938, Insurance Rules 1939, and specific regulations issued by IRDAI",
"4": "The Companies Act, 2013"
} | 3 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
377 | What is the maximum claim amount for which a surveyorneed not be appointed under Section 64 UM of the Insurance Act? | {
"1": "For the claim more than Rs. 50, 000 for motor own damage and Rs. 1 lakh for other property damage claims",
"2": "Rs. 1 lakh for motor own damage claims and Rs. 50, 000 for other property damage claims",
"3": "Rs. 50, 000 for all property damage claims",
"4": "Rs. 1 lakh for all property damage claims"
} | 1 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
378 | How should an insurance company fulfill its promise to policyholders? | {
"1": "By providing unfair and inequitable service",
"2": "By avoiding payment to policyholders",
"3": "By providing prompt, fair, and equitable service",
"4": "By increasing premiums for policyholders"
} | 3 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
379 | What kind of report may be necessary for cyclone damage claims? | {
"1": "A report from the Meteorological office",
"2": "A report from the Fire Brigade",
"3": "A report from the Police",
"4": "A report from the Coroner"
} | 1 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
380 | Why is settling claims professionally important for an insurance company? | {
"1": "To avoid paying claims",
"2": "To increase profits",
"3": "To attract more policyholders",
"4": "It is regarded as the biggest advertisement for the company"
} | 4 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
381 | Which inscription was found in the board room of a non- life insurance company? | {
"1": "\"Honesty is the best policy\"",
"2": "\"We always pay our claims\"",
"3": "\"Pay if you can; repudiate if you must\"",
"4": "\"Insurance is a scam\""
} | 3 | InsuranceAgent_Non-Life-Question Bank_28032023.md | Life |
1 | In the olden days, Chinese traders used to keep their goods in different boats while sailing through treacherous waters. Analyse why? | {
"1": "Chinese boats were small and they carried heavy goods",
"2": "The Chinese Government mandated that goods should be distributed among multiple shipping companies so that there is equal distribution of business",
"3": "Chinese traders placed their goods in multiple boats because it provided insurance agains... | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
2 | What is the cost of risk directly proportional to? | {
"1": "Probability and impact of the loss",
"2": "Impact of the loss alone",
"3": "Probability of loss and object of insurance",
"4": "Impact of loss and the object of insurance"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
3 | Which of the below statement is incorrect? | {
"1": "Under mutuality, the funds of various individuals are combined",
"2": "Mutuality is also known as pooling",
"3": "Under mutuality we have funds flow from one source to many",
"4": "Mutuality provides protection against the economic loss arising as a result of one’s untimely death. This loss is shouldere... | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
4 | The earliest type of modern insurance was in the form of protection by business guilds or societies in Europe especially _________ in the 14th century. | {
"1": "Spain",
"2": "France",
"3": "Germany",
"4": "Italy"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
5 | In terms of Breach of Utmost Good Faith, which of the following is not correct | {
"1": "Concealment is Intentional Non- Disclosure",
"2": "Concealment is Innocent Non-Disclosure",
"3": "Fraudulence is Intentional Misrepresentation",
"4": "Hiding existence of a disease is intentional Non-Disclosure"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
6 | Life Insurance Corporation of India(LIC) was set up under which of the following acts? | {
"1": "Life Insurance Corporation Act, 1956",
"2": "The Insurance Act, 1938",
"3": "Life Insurance Companies Act, 1912",
"4": "Indian Insurance Companies Act, 1928"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
7 | Which of the following social security scheme is a Health Insurance plan? | {
"1": "PMVVY",
"2": "PMFBY",
"3": "PMJAY",
"4": "PMSBY"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
8 | Explain difference between peril and hazard. | {
"1": "Peril is the cause of loss and hazard is the consequence of that loss",
"2": "Peril is the direct cause of loss while hazard increases/decreases the probability of loss",
"3": "Hazard is the direct cause of loss while peril increases/decreases the probability of loss",
"4": "Peril is probability of loss... | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
9 | The IRDA was established in the year __________ under the IRDA Act, 1999. | {
"1": "1999",
"2": "2000",
"3": "2002",
"4": "2003"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
10 | Losses caused by an earthquake are ______ | {
"1": "Critical",
"2": "Collaborative",
"3": "Corollary",
"4": "Common"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
11 | Who is protected under the In-Contestability Clause included under a Life Assurance Policy? | {
"1": "Insurer",
"2": "Insured",
"3": "Insurance Agent",
"4": "Insurance Broker"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
12 | Who among the Following, is Likely to be Exposed to Accidental Hazard, in His or Her Occupation? Choose the Most Appropriate Option. | {
"1": "Medical-Professional",
"2": "Tourist-Guide",
"3": "Demolition-Experts",
"4": "Marketing-Executive, Who is regularly on the Field. "
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
13 | Who among the Following, is Likely to be Exposed to Health-Hazard, in His or Her Occupation? | {
"1": "Yoga-Instructor",
"2": "Film-Stunt-Artist",
"3": "Dancer in a Night-Club",
"4": "Person, Exposed to Mining Dust"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
14 | Why Do, Insurers need Material Information? | {
"1": "For Documentation Purposes. ",
"2": "Decide on the Risk- Acceptance, and the Terms and Conditions, Associated. ",
"3": "To Comply with the Regulatory Requirements. ",
"4": "To Improve the Customer-Service. "
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
15 | Compare: Gambling and Insurance. | {
"1": "Gambling and Insurance, Both, are the Same. ",
"2": "Gambling has No Insurable Interest involved, but Insurance does have. ",
"3": "Insurance has Only Profitable Outcomes, while, Gambling could result in Losses. ",
"4": "Gambling is Legally Enforceable, but, Insurance is Not. "
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
16 | Select a Scenario, that showcases the Principle of Uberrima Fides. | {
"1": "Timely Payment of Premium. ",
"2": "Disclosing All Material Information on the Insurance Proposal- Form. ",
"3": "Faking All Material Information on the Insurance Proposal- Form. ",
"4": "Disclosing All Irrelevant Information on the Insurance Proposal- Form. "
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
17 | Label the Interest, that the Insured has, in the Subject-Matter of Life Assurance. Choose the Most Appropriate Option. | {
"1": "Speculative Interest",
"2": "Wager Interest",
"3": "Insurable Interest",
"4": "Indemnity Interest"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
18 | Which priciple of insurance implies if the same property is insured with more than one insurance company | {
"1": "Contribution",
"2": "Uberrima fides",
"3": "Subrogation",
"4": "Proximate cause"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
19 | ____________________is a corollary principle of Indemnity | {
"1": "Insurable Interest",
"2": "Uberrima fides",
"3": "Subrogation",
"4": "Proximate cause"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
20 | Examine the conditions mentioned below and tell us which is not a valid condition for returning a policy during the free look period. I: Option must be exercised within 15 days of receiving the policy document II: Communication has to be in writing III: Communication can be verbal or written | {
"1": "I only",
"2": "II only",
"3": "III only",
"4": "I and III"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
21 | Section 45 (Indisputability Clause) of Insurance Act, protects the Insured, from Rejection of Claim, by the Insurer; provided the Policy has completed --. Choose the Most Appropriate Option. | {
"1": "One Year",
"2": "Three Years",
"3": "Five Years",
"4": "Seven Years"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
22 | As per the Suicide Clause, if the Life-Assured Dies, as a Result of Suicide, After 3 Years of the Issue of Policy, What Does the Beneficiary Receive as the Claim? | {
"1": "Nothing",
"2": "Premium, Paid by the Life-Assured. ",
"3": "(2 × Premium), Paid by the Life-Assured. ",
"4": "Full Face-Amount of the Policy. "
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
23 | What Does, First Premium Receipt (F. P. R. ), signify? | {
"1": "Free-Look Period has ended. ",
"2": "It is the Evidence, that the Policy-Contract has begun. ",
"3": "Policy cannot be cancelled, Now. ",
"4": "Policy has acquired a Certain Cash-Value. "
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
24 | Identify the Document, that evidences a Contract, between the Insurer and the Insured. | {
"1": "Proposal-Form",
"2": "Claim-Form",
"3": "Nomination-Form",
"4": "Policy-Document"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
25 | Expections stated under Section 59 of the Insurance Rules 1939 for advance payment of premium. | {
"1": "No risk to be assumed unless premium is received in advance",
"2": "Insurance cannot be sold on credit basis in India",
"3": "Accepting premiums in instalment in respect of Sickness Insurance, Group Personal Accident Insurance, Medical Benefits Insurance and Hospitalisation Insurance Schemes subject to ce... | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
26 | Which One of the Following Statements, isIn-Correct, with Regard to Numerical Rating Method of Underwriting? | {
"1": "Under this Method, Underwriters assign the Positive Rating-Points for All Negative or Adverse Factors. ",
"2": "Under this Method, Underwriters assign the Positive Points for Any Positive or Favourable Factors. ",
"3": "Under this Method, the Total Number of Points, so assigned, will decide How Much Extra... | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
27 | Which One of the Following Statements, isIn-Correct, with Regard to Judgement Method of Underwriting? | {
"1": "Under this Method, Subjective Judgement is used. ",
"2": "This Method is especially used in Case of Complex Cases. ",
"3": "In this Method, the Company may seek Expert Opinion of Medical Doctor. ",
"4": "In this Method, the Underwriter assign Positive or Negative Rating-Points to the Adverse Factors. "
... | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
28 | Mr. Vimal is a 32-Years' Old, Healthy, Non-Smoker, Teetotaller Individual; Who applies for Life Assurance from ABC Limited Insurance Company. Which One of the Following Statements, will Hold True, with Regard to Risk- Acceptance by the Insurance Company? | {
"1": "Risk will be Accepted at Ordinary Rates. ",
"2": "Risk will be Accepted With an Extra, Over the Tabular Rate of Premium. ",
"3": "Risk will be Accepted, With a Lien on Sum- Assured. ",
"4": "Risk will be Accepted, With a Restrictive Clause. "
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
29 | If, Mr. Brijesh, a 40-Years' Old Individual, is perceived as a 'Sub-Standard Risk', by the Insurance Company, then, Which One of the Following Statements, will Hold True, with Regard to Risk-Acceptance by the Insurance Company? | {
"1": "Risk will be Accepted at Ordinary Rates. ",
"2": "Risk will be Accepted at Lower Rates. ",
"3": "Risk will be Accepted With an Extra, Over the Tabular Rate of Premium. ",
"4": "Risk will be Declined. "
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
30 | What is meant by 'Risk-Classification'? Choose the Most Appropriate Option. | {
"1": "The Process, in which, Individual Lives are Categorised and Assigned to Different Risk-Classes, Depending on the Degree of Risks, they Pose. ",
"2": "The Tendency of People, Who suspect or know that, their Chance of Experiencing a Loss is High, to seek-out the Insurance, Eagerly; and to gain in the Process.... | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
31 | Mr. Nimesh bought a 20-Years' Unit-Linked Insurance Plan (U. L. I. P. ). In the Event: Mr. Nimesh dies, Within the Policy-Term, Which of the Following, will be paid? | {
"1": "Surrender-Value will be paid. ",
"2": "Premiums paid will be Returned, After Deducting the Dues. ",
"3": "Lower of Sum-Assured or Fund-Value, will be paid. ",
"4": "Higher of Sum-Assured or Fund-Value, will be paid. "
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
32 | In Case of Presumption of Death of Life-Assured, Which One of the Following Documents, needs to be submitted, by the Nominee? | {
"1": "Death-Certificate from Municipal Corporation. ",
"2": "Decree from a Competent Court. ",
"3": "Employer's Certificate",
"4": "Inquest-Report"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
33 | Mr. Brijesh purchased a 20-Years' Unit-Linked Insurance- Plan (U. L. I. P. ), from ABC Insurance Company. If Mr. Brijesh Dies, Before the Maturity of the Policy, then Insurance Company will have to pay --. | {
"1": "Surrender-Value",
"2": "Premiums, After Deducting the Dues. ",
"3": "Lower of Sum-Assured or Fund-Value. ",
"4": "Higher of Sum-Assured or Fund-Value. "
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
34 | Which One of the Following Claims, can be Payable, Only to the Assignee or Nominee? | {
"1": "Death-Claim",
"2": "Maturity-Claim",
"3": "Survival-Benefit",
"4": "Surrender-Value"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
35 | Which One of the Following Documents, needs to be submitted, by the Nominee, in the Event of Natural Death of the Life-Assured? Choose the Most Appropriate Option. | {
"1": "Inquest Report",
"2": "Death-Certificate",
"3": "Post-Mortem Report",
"4": "First Information Report (F. I. R. )"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
36 | On payment of claim, the life insurance policy- | {
"1": "Can be reinstated on payment of pro-rata premium",
"2": "Stands cancelled",
"3": "Automatically terminates",
"4": "Continues till the end of the policy period"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
37 | On payment of claim, the individual fidelity guarantee policy- | {
"1": "Can be reinstated on payment of pro-rata premium",
"2": "Stands cancelled",
"3": "Automatically terminates",
"4": "Continues till the end of the policy period"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
38 | Arbitrators appoint ________________who presides the meeting. | {
"1": "A President",
"2": "A Chairman",
"3": "An Umpire",
"4": "A Judge"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
39 | Dispute relating to question of liability are to be settled through __________________. | {
"1": "Arbitration",
"2": "Communication",
"3": "Litigation",
"4": "Understanding"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
40 | You are an insurance agent. Mr. Mahesh has approached you as a customer to buy some insurance. You hear from friends that Mr. Mahesh is involved in sale of pirated goods and all the resultant cash is invested in buying life insurance. What should you do? | {
"1": "Concentrate on completing the sale and securing commission",
"2": "Report suspicious transaction along with all the information you have about Mr. Mahesh",
"3": "Blackmail Mr. Mahesh and try to get some monetary benefits out of him",
"4": "Keep mum about the transaction"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
41 | Important information that a prospectus discloses includes: I. Any incentives to reward policyholders for early entry II. Any incentives to reward policyholders for continued renewals III. Any incentives to reward policyholders for favourable claims experience | {
"1": "Only I",
"2": "I and II",
"3": "II and III",
"4": "I, II and III"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
42 | 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? | {
"1": "In Favour of the Insured. ",
"2": "In Favour of the Insurer. ",
"3": "The Policy will be declared as Void, and the Insurer will be asked to Return the Premium, With Interest, to the Insured. ",
"4": "The Policy will be declared as Void, and the Insurer will be asked to Return the Premium, to the Insured... | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
43 | Which of the Following, isNota Part of a Standard Policy- Document? | {
"1": "Policy Schedule",
"2": "Standard Provisions",
"3": "Policy-Specific Provisions",
"4": "Policy Forfeiture Provisions"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
44 | Gives us, an Example of a Standard Policy-Provision. | {
"1": "A Clause, Precluding the Death Due to Pregnancy, for a Lady, Who is Expecting at the Time of Writing the Contract. ",
"2": "Suicide Clause",
"3": "A Clause, Precluding Certain Illnesses. ",
"4": "A Clause, Granting Certain Privileges to the Policy-Holder. "
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
45 | Which of the below statement/statements is/are true with regard to a proposal form? A) The proposal form can be filled in by the proposer in written or electronic format. B) The proposal form contains the details of imsurance cover, warranties, terms and conditions. C) The insurer can decide whether to accept or reject... | {
"1": "A & B",
"2": "A & C",
"3": "Only C",
"4": "All of them"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
46 | Declaration of the proposer in the proposal form converts _____________________________of Utmost Good Faith to __________________________ of Utmost Good Faith. | {
"1": "Legal Duty, Common Law Principle",
"2": "Contractual Duty, Common Law Principle",
"3": "Common Law Principle, Contractual Duty",
"4": "Common Law Principle, Legal Duty"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
47 | Which of the following is not a contributor towards Customer Lifetime value | {
"1": "Historical",
"2": "Present",
"3": "Potential",
"4": "Speculated"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
48 | Which of the following is NOT an example of non verbal communication? | {
"1": "Signaling okay with a hand gesture",
"2": "Gesturing in an empty room",
"3": "Wearing jewelry",
"4": "Raising your voice"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
49 | The ability to perform the promised service dependably and accurately, can be termed as _________ | {
"1": "Tangible",
"2": "Reliability",
"3": "Assurance",
"4": "Responsiveness"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
50 | The knowledge, competence and courtesy of service providers and their ability to convey trust and confidence, can be termed as _________ | {
"1": "Reliability",
"2": "Assurance",
"3": "Responsiveness",
"4": "Tangible"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
51 | Select the Correct Statement, with Regard to Grace- Period. Choose the Most Appropriate Option. | {
"1": "The Standard Length of the Grace-Period is 1 Month or 31 Days. ",
"2": "The Standard Length of the Grace-Period is One Quarter. ",
"3": "The Standard Length of the Grace-Period is One Week. ",
"4": "The Standard Length of the Grace-Period is One Fort-Night. "
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
52 | Potential Value means- | {
"1": "The value of premiums that is arrived at by persuading the customer to buy additional products",
"2": "Future premiums that may be expected to be received if existing business is retained",
"3": "The value of premiums that could be derived by persuading the customer to buy additional products",
"4": "Fu... | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
53 | Elements of Trust are A) Communication, B) Attraction, C) Belief, D) Presence | {
"1": "A & B",
"2": "A, B & C",
"3": "A, C & D",
"4": "A, B & D"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
54 | ____________ is the most important step in sales process. | {
"1": "Interview",
"2": "Prospecting",
"3": "Handling objections",
"4": "Closing the sale"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
55 | An agent need not recommend insurance in certain situations. One of the situation can be- | {
"1": "Where the prospect is interested in reducing the cost of handling the risk. ",
"2": "When the risk involved is non-insurable. ",
"3": "Where the risk involved can be managed by means other than insurance. ",
"4": "All of the above"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
56 | When is a cover note issued to proposer? | {
"1": "When the underwriting process is complete and policy is issued",
"2": "When the negotiations for insurance are in progress and policy document is prepared",
"3": "When the underwriting process is complete and policy not is issued",
"4": "When the negotiations for insurance are in progress and policy doc... | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
57 | During which period, insurance policy can be returned and refund of premium obtained? | {
"1": "Coverage period",
"2": "Free Look Period",
"3": "Waiting Period",
"4": "Grace Period"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
58 | If the policy is being purchased electronically, it is agent's duty to- | {
"1": "Help the customer to open e-Insutance Account through registered insurance repository",
"2": "Help the customer to register for e- Insurance Policy with OTP through registered insurance repository",
"3": "Help the customer to open e-vault for Insurance Policy through registered insurance repository",
"4... | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
59 | The customer has choice to continue with same insurer or to switch to another insurance company in following kind of policies: | {
"1": "Term Insurance Policy",
"2": "Motor Third Party Policy",
"3": "Endowment Policy",
"4": "Unit Linked Insurance Policy"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
60 | Consumer protection Act. comprises of_________ quasi- judicial machinery | {
"1": "One-tier",
"2": "Three-tier",
"3": "Two-tier",
"4": "Four-tier"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
61 | Which of the following statement is incorrect with regard to process of filing a complaint with a Consumer Court? | {
"1": "No one else other than the complainant himself / herself can file a complaint with the State or National Commission",
"2": "There is no fee for filing a complaint with State Commission or National Commission",
"3": "The complaint can be filed personally or can even be sent by post",
"4": "No advocate is... | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
62 | If a policyholder wishes to file a complaint against any insurance company directly with State Commission, then in which of the following cases can he / she do so? | {
"1": "Where the value of goods/services and compensation claimed is up to Rs 20 lakh",
"2": "Where the value of goods/services and compensation claimed exceeds Rs. 20 lakh but does not exceed Rs. 100 lakh. ",
"3": "Where the value of goods/services and compensation claimed exceeds Rs. 100 lakh. ",
"4": "Where... | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
63 | Which of the following statement is incorrect with regard to the State Commission? | {
"1": "This redressal authority has original, appellate and supervisory jurisdiction",
"2": "It entertains appeals from the National Commission",
"3": "It has original jurisdiction to entertain complaints where the value of goods/service and compensation, if any claimed exceeds Rs. 1Crore but does not exceed Rs.... | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
64 | Which of the following rules is incorrect with regards to the Award that can be passed by the Ombudsman? | {
"1": "The Award should be more than Rs. 50 lakh",
"2": "The Award should be made within a period of 3 months from the date of receipt of complaint",
"3": "The insurer shall comply with the Award and send a written intimation to the Ombudsman within 15 days of the receipt of such acceptance letter",
"4": "If t... | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
65 | No one else in the insurance company has _____________ the client's problems as much as an agent does. | {
"1": "ownership of",
"2": "responsibility towards",
"3": "duty towards",
"4": "role in resolving"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
66 | In case where the complaint of a customer is not satisfatorily resolved, the complaint may be raised with- | {
"1": "Insurance Grievance Redressal Mechanism",
"2": "Grievance Redressal Officer",
"3": "Consumer Complaints Registration System",
"4": "Integrated Grievance Management System"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
67 | IGMS stands for- | {
"1": "Insurance Grievance Management System",
"2": "Integrated Grievance Management System",
"3": "IRDAI Grievance Management System",
"4": "Initial Grievance Management System"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
68 | Defect means- | {
"1": "Imperfection in the quality of product / service",
"2": "deficiency in the nature of product / service",
"3": "inadequacy in the manner of performance of the product",
"4": "All of the above"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
69 | Consumer dispute redressal agencies are not established at- | {
"1": "National level",
"2": "District level",
"3": "City level",
"4": "State level"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
70 | District Commission has the powers of ________________. | {
"1": "High Court",
"2": "Supreme Court of India",
"3": "Small Causes Court",
"4": "Civil Court"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
71 | Appeals against orders passed by State Consumer Disputes Redressal Commission are accepted for hearing at ______________. | {
"1": "High Court",
"2": "State Commission",
"3": "Civil Court",
"4": "National Commission"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
72 | Which Consumer dispute redressal agency is established by the Central Government? | {
"1": "State Commission",
"2": "National Commission",
"3": "District Commission",
"4": "Both District & State Commission"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
73 | A complaint can be filed with the Consumer Dispute Redressal Agencies by- | {
"1": "The advocate",
"2": "The agent authorised by the consumer",
"3": "The Consumer or his authorised agent",
"4": "Only the consumer"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
74 | The Ombudsman passes an award to insured within _________ from the date of receipt of all the requirements from the insured and insurer. | {
"1": "2 months",
"2": "15 days",
"3": "3 months",
"4": "1 month"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
75 | Which of the below Act has provisions for monitoring and control of operations of insurance companies? | {
"1": "IRDA Act, 1999",
"2": "Deposit Insurance and Credit Guarantee Corporation Act, 1961",
"3": "Public Liability Insurance Act, 1991",
"4": "The Insurance Act, 1938 and subsequent amendment"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
76 | Which One of the Following Bodies, can issue the License to work as Individual Agents, in India? | {
"1": "Finance Ministry",
"2": "Government of India",
"3": "Life Insurance Corporation (L. I. C. ) of India and General Insurance Corporation (G. I. C. ) of India, Jointly. ",
"4": "Insurance Regulatory and Development Authority of India (I. R. D. A. I. )"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
78 | Minimum Academic Qualification of a Sepcified Person is --. | {
"1": "Class 10",
"2": "Class 12",
"3": "Graduate",
"4": "Post-Graduate"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
79 | An Applicant, seeking an Appointment as an Insurance Agent of an Insurer, shall submit an Application in Form: - -, to the --- of the Insurer. | {
"1": "I-A, Designated Official",
"2": "A. I-A, Appellate Officer",
"3": "I-B, Designated Official",
"4": "I-B, Appellate Officer"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
80 | In case of rejection of application, the applicant is communicated the reasons for the rejection in writing within - | {
"1": "25 days of receiving the application",
"2": "30 days of receiving the application",
"3": "21 days of receiving the application",
"4": "14 days of receiving the application"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
81 | The insurer is required to communicate his final decision on the review application made by applicant within ____________. | {
"1": "25 days",
"2": "15 days",
"3": "30 days",
"4": "20 days"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
82 | Whom can the aggrieved insurance agent appeal to in case of cancellation of appointment? | {
"1": "Designated Official",
"2": "Appellate Authority",
"3": "Appellate Official",
"4": "Appellate Officer"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
83 | An aggrieved agent can appeal within _______________ and the officer will give the decision within _______________. | {
"1": "45 days, 30 days",
"2": "30 days, 20 days",
"3": "25 days, 30 days",
"4": "20 days, 15 days"
} | 1 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
84 | The applicant who passes the Insurance Agency Examination is issued a pass certificate by the examination body. The validity of this certificate is _____________ within which the applicant can apply for the appointment as an agent with any insurer for the first time. | {
"1": "Six months",
"2": "24 months",
"3": "12 months",
"4": "36 months"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
86 | An agent's appointment can be cancelled / suspended if he - | {
"1": "Discloses material facts in the application",
"2": "Violates terms of policy",
"3": "Fails to retain the clients on renewal of the policy",
"4": "Furnishes wrong / false information"
} | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
87 | When is the name of blacklisted agent removed from the black list? | {
"1": "When the agent resigns from his appointment as agent by the insurer",
"2": "When the suspension against the agent is revoked by the authority",
"3": "When the agent submits his written oath to the authority regarding strictly adhering to the code of conduct in future",
"4": "When the agent surrenders hi... | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
88 | Compare the probability of a contingent event with regards to life and general insurance. | {
"1": "The probability of the event happening stays constant through time with regards to both life and general insurance",
"2": "The probability of the event happening increases in case of general insurance and decreases in case of life insurance",
"3": "The probability of the event happening increases in case ... | 4 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
89 | Analyse the two statements below and determine the true one(s) Statement I: The contingent event occurs certainly in case of general insurance Statement II: The contingent event occurs certainly in case of life insurance | {
"1": "Only Statement I is true",
"2": "Only Statement II is true",
"3": "Statements I and II are true",
"4": "Statements I and II are false"
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
90 | Suggest a class of insurance that will provide protection against loss of goodwill. | {
"1": "Life insurance",
"2": "Property insurance",
"3": "Liability insurance",
"4": "Personal insurance"
} | 3 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
91 | Analyse the Following Two Statements, and Determine the True One(s): Statement-I: The Contingent-Event occurs Certainly, in Case of General Insurance. Statement-II: The Contingent-Event occurs Certainly, in Case of Life Assurance. | {
"1": "Statement-I is True. ",
"2": "Statement-II is True. ",
"3": "Statement-I and Statement-II are True. ",
"4": "Statement-I and Statement-II are False. "
} | 2 | InsuranceAgents_Life-Question Bank_28032023.md | Life |
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