IC-33: Questions on Chapter 8

Q.1. A “prospective client” can best be described as a person 1. who is young and employed 2. who has any financial need * 3. who is old and retired 4. who has dependents Q.2. An insurance Agent asked Nikhil about his marital status and the number and ages of his dependents. This can be termed as 1. creating needs 2. prioritizing needs 3. identifying needs * 4. quantifying needs Q.3. An employed person needs highest income protection when he 1. is young, married and from double income family 2. is young, married and from single income family * 3. is married and having older children 4. is at his pre-retirement stage Q.4. Risk appetite generally 1. remains constant at all life stages 2. increases with age 3. decreases with age * 4. is maximum at retirement Q.5. Which of the following factors does not affect the life stages of a client? 1. The clients’ assets and liabilities 2. His ability to build new relations * 3. His marital status and dependents 4. Health issues of the client Q.6. Financial planning techniques and analysis can be used to determine 1. Real and perceived needs 2. Real needs * 3. Perceived needs 4. None of the above Q.7. To effectively evaluate the information provided by a prospective client, an insurance Agent must have 1. communication skills 2. questioning skills 3. listening skills 4. all of the above *


Existing Insurance Policies 4. Child insurance Plans 3. Lifecycle 3. Geeta argues with an insurance Agent that ‘A competitor’s products are offering additional benefits’. Discuss the pros and cons of the related products 4. at the point when the client starts loosing interest 3. Real financial and protection needs do not depend on 1.Q. A private sector employee 3. Effective communication skills are required especially 1. A sports person 2 . Amount of Surplus fund available Q. Bank Deposits 2. at the beginning of the meeting 2. Whole Life Plans Q. ULIP Plans * 4. none of the above 4. Which of the following investments are suitable when the risk appetite is high? 1. A public sector employee * 2. The Agent should 1. Present a comparative analysis 3. All of the above * Q. A self-employed person 4. both (1) and (2) above * Q. The need for a pension plan is lowest. Hobbies of the person * 2. Raise appropriate questions to understand the real reason 2. when a person is 1.