India IRDA General insurance Agent exam

Question answer tips guide

1.
1. GEN IMPORTAT QUESTIONS 2014 S
NO Questios Aswers
2.
1 Which association is formed under
Actuaries 2006 Institutes of Actuaries
3.
Which of the act deals with the risk of
the companies dealing with hazardous
substances Public liability act 1991
4.
In which year Public Liability
insurance act was passed 1991 4 In
which year ECGC (Export credit
Guarantee Corporation) is formed 1957
5.
Many companies for early and easy
claims settlement also form the separate
divisions known as Claim Hub
6.
In the case of disputes arising in
claim settlement who settles the claim
Arbitration 7 the event whose
Occurrence actually leads to the loss
Peril 8 Sum assured (S.A) largely depend
on Age and Financial conditions 9 Perils Specific event which might cause a loss.

10 In insurance contract the principal of

Utmost good faith aims to provide
information - Voluntary 11 The
intermediate who reach the insurance
Market most Agents 12 An agent is
responsible for his acts to the The
insurer 13 Health insurer and TPA works
on behalf of who in the claims
settlement of health insurance policies.
Non-life insurance 14 In the Public
liability policy if the claim of fatal
accident arises which document is also
needed? Police report 15 Premium
charged in general insurance company is
normally calculated for? 12 Months 16 In
the insurance contract "Uberrima Fides"
means? Meeting of minds 17 Which
section of the consumer act deals with
appealing in national commission?
Section 19 18 Training hours for
CA/CS/ICWA/MBA professionals
prescribed by IRDA 25 Hrs 19 In
insurance policies the premium charged
has to be paid? In advance 20 In the
case of Temporary Partial Disablement in
the personal accidents policies the

weekly amount paid is? Rs 1000/- per

week (max 3 week) 21 In the marketing
the win win situation arises when ?
Negotiation 22 To cover the Unlimited
liability for death, injury in the motor
insurance what type of insurance cover
is available? Motor third party insurnace
23 If any Unknown person forcefully
enters your premises for the purpose of
stealing, this type of risk is covered
under? Burglary Insurance 24 When theft
is done by employees /relatives then it is
not covered under? Burglary insurance
25 The replacement claim is made to the
complainants in reinstatement policy it is
? Insurers liability 26 Which principal
stops you from making profit out of
losses Indemnity 27 The replacement
value in case of Reinstatement policy is
calculated ___ less depreciation. Market
value 28 Premium calculated for short
duration Short period scales 29 what do
you mean by ethical behavior a behavior
with persons moral value 30 Insurance
works on the principal of sharing of
Losses 31 which type of risk are

insurable as in it only the chances of loss

and insurance are to compensate for
losses? Pure risk 32 The preliminary
receipt in case of general insurance in
the absence of policy which shows the
risk cover? Cover note 33 In insurance
the Revenue account, profit and loss
account and balance sheet is signed by?
Auditor 34 Arbitrator is appointed by
Mutually by both parties. 35 If there are
more than one arbitrator than decision
will be ? Umpire appointed by both
arbitrator 36 Earthquake fall under act of
god peril Catastrophic Risk 37
Nomination fall under section 39 of
insurance act 1938 38 Assignment fall
under section 38 of insurance act 1938
39 To send renewal notice to the
policyholders is the duty of __________.
Insurer 40 Consumers protection act
passed in _______. 24-Dec-86 41
____________ is the right for an insurer to
pursue a third party that caused an
insurance loss to the insured. This is
done as a means of recovering the
amount of the claim paid to the insured

form the third party . Subrogation 42

IRDA Head office is located at?
Hyderabad 43 If a property is mortgaged
to bank than at the time of claim
settlement claim will be paid to the Bank
44 Health insurance is a contract
between Insured and ___________ Insurer
45 If there is no proposal form signed by
the policyholder and information are
provided in orally than insurer will
consider the proposal on these
informations within. 15days
46 Overseas medical policy will start
from ___________________ India,. the date
to journey to back 47 If a merchandise
kept his all jewelery in one place in the
evening than he can Retention of risk 48
EAR Stands for? Erection all risk policy
49 ALOP Stands for? Advance Loss of
Profits Policy 50 CPM Stands for?
Contractor Plants & Machinery Policy 51
MLOP Stands for? Machinery Loss of
Profits Policy 52 MCE Stands for? Marine
Cum Erection Policy 53 CAR Stands for?
Contractors All Risks Policy

7.
2. 54 TPA Stands for? Third party
administrator 55 SEBI Stands for?
Securities and Exchange Board of India
56 III Stands for? Insurance institute of
India 57 CBDT Stands for? Central Board
of Direct Taxes 58 TAT Stands for?
Turnaround time 59 IRDA Stands for?
Insurance Regulatory Development
Authority 60 IGMS Stands for? Integrated
grievances management system 61 PIL
Stands for? Public Interest Litigation 62
IDV Stands for? Insured declared value
63 GIBNA Stands for? General insurance
Business nationalization 64 RTI Stands
for? Right to information 65 RTO Stands
for? Regional transport office 66 In how
many categories surveyor and loss
assessors defined? 7 classes 67
Insurance surveyor also undertakes the
work of? Investigation 68 Insurance is
taken for _________. Investment and
protection 69 Which documents is
necessary with the vehicle when driving
on the road Vehicle insurance 70 For
disputes regarding claims where we go
to when our amount is 100 lakh ? State

forum 71 If a person wants to start sale

works then he wants to know about?
Target market 72 Section 64 VB of the
Insurance Act Premium has to be paid in
advance. 73 Validity of cover note is
usually for a period of a fortnight and
rarely up to 60 DYAS 74 Rate is
________________ Not same as premium
75 On how many loss we can appoint the
surveyor Rs 20000/- 76 Insurance
company issue another card other than
identity card Smart card for Cashless
Facility 78 In overseas medi claim policy
if the claim arise abroad, loss of passport
etc happen he should contact to? Local
Medical Advisor 79 what is Pure premium
Premium sufficiently big enough to pay
for losses only 80 Jewellery policy
covers-gold ,silver ornaments, cash,
pearls, precious stones etc * Loss or
damage to property whilst contained in
the premises by fire, explosion, lighting
Section -I * All risk cover when property
is in the custody of insured/his partners
Section II * All risk cover such property is
in transit through registered post., air

freight Section -III * Cover for trade and

office furniture and fitting in the
premises against the risk. Section -IV 81
How much is the minimum requirement
for the starting insurance business in
India. Rs 100 Crore 82 In India the
_____________ is empowered to regulate
the insurance industry Central
Legislature 83 the state commission
president should be a ___________ High
court judge 84 Which type of Fire Policy
cover stock at various location under one
sum insured? Floating policy 85
Section140 of the motor vehicles act
1988, provides for liability of the owner
of the motor vehicles to pay
compensation in certain cases on the
principal of no fault how much is the
compensation payable for death in such
cases. Rs 25000 86 In case of motor
Insurance which document is considered
as the only evidence of existence of
valid insurance by policeauthorities and
RTO Certificate of Insurance 87 The
sharing of a claim b/w two insurers is
called ____________ Contribution 88 A

subrogation claim is recovered from the

third party and? Or which other party?
Client's Insurers 89 After Independence
how many year Non-Life
company________ 25 Years 90 First
Insurance Company In India which city.
Calcutta 91 If any person loses Two eyes,
Two legs etc____________ which policy
personal accident policy 92 Section 201
under _________ Termination of agency 93
Who is responsible to inform about the
renewal of policy for insurer and intimate
the expire date of policy? Insurer 94 Free
look-in period 15 days 95 Investigation is
done for which type of claim Non
standard claims 96 If the premium is
charged for short term for short duration
policies then it is calculated on? Short
seals 98 What is as same as Workmen
Compensation? Contractor's
Compensation 99 Provision for
Arbitration does not apply in? Marine
100 What is the full form of AML/CFT?
Anti money laundering/counterfoil
terrorism 101 When IRDA is formed ?
2000 102 In which section of IRDA 2000

its roles and duties are mentioned?

Section 14 103 Fatal Act was passed in
which year? 1855 104 Redressel of
Public Grievance Rules 1998 passed on?
11 Nov 1998 105 What does in contract
act the word caveat emptor means? Let
the buyer be aware 106 Duty of
Disclosure is an_________in the insurance
contract Obligation 107 When more than
one members of the family are covered
in a single plan which plan benefits them
at the time of medical expenses? Health
108 Under which section of Jewelers
block policy the immovable property in
the premises covered? section 1 109 If
there is situation of "Particular risk in the
Insurance policy which of the following is
not covered? Speculative risk
8.
3. 110 For insurance an asset must
have_____________value? Economic 111 If
an agent has full knowledge regarding
the product , clients renewal etc what
does it shows? Responsiveness 112 The
Premium in fire insurance is calculate
considering (i) market value(ii)

reinstatement value(iii)sum insured (I) &

(II) 113 Which of the following work also
done by surveyor? Investigation 114
Under which standalone policy is issued?
Health 115 If the claim is filled due to
loss by cyclone which report in addition
is required with claim form?
Meterialogical report 116 Premium on
annual policies is
charged________________wheras
______________on short term policies.
once, frequent 117 In personal accident,
cover issued worldwide
on___________basis. 24 hrs 118 If any
person plan for his risk according to "self
risk" mechanism then it is? Risk
reduction 119 If risk is not transferred by
an individual and he decided to keep the
same what does it shows? Risk retention
120 In motor insurance renewal, the
insured's attention is to be drawn to
revise___________________insured(i.e the
insured value of vehicle) in the light of
current requirements? Sum 121 At the
time of claim in motor insurance
_____________is also considered while

calculating age of vehicle? Depreciation

122 In considering the rate mechanism
in premium calculation is called?
Ratemaking 123 In calculating the
premium on occupation basis risk is
charged_______dependent on hazards?
risk 1,2,3 124 Surveyor is performing his
duties taking care of the needs of?
Interest of insurer and Insured 125 Under
which section of insurance act 1938
there is mention of social security and
also emphasis on need of insurance?
Section 32 126 If the vessel is spending
on storage, repair and maintenance it is?
Running expenses 127 While giving
storage policy which of the following is
not considered? Profit and sale of goods
128 The detail in the proposal form
regarding the customer's age and other
features is beneficial to whom? Insurer
129 In todays time when one
has_____________individuals increase
theeeds of householders insurance? High
net worth 130 Which of the following is
only a works as a register for keeping
clients information? Prospective client

data 131 In cashless facility some

insurance companies ask to
inform________________before
hospitalization? 48 hrs 132 Where a
proposal form is not used the insurer
shall record the information obtained
orally or in writing and confirm it within
period of ? 15 Days 133 Ombudsman is
appointed under Public grievance rules
134 Total disability and death covers
accident insurance are available in
____________ Accident Insurace 135 When
any person has long lasting interest in
any asset or we can say attached till
death then it shows he has? Insurable
Interest 136 No claim bonus in motor
insurance recognizes which of the
following? Moral hazard 137 To start a
career in sales the salesman should start
as? Agent 138 Under micro insurance
policy, the policy document provided on?
Vernacular language 139 What type of
risk is not insurable ? Certain 140 NBFC
stand for Non banking Finance
corporation 141 General insurance
business (nationalization) act pass in the

year 1972 142 Agent who have Both

license General and life is called
Composite agent 143 Insurance is a
contract between Insurer & insured 144
Surveyor is appointed for
____________________ of the property
investigation and loss assessment 145
Public liberty act covers
_______________________ No fault liability.
146 Total disability Refers to Permanent
total disability. 147 A Sale is act of giving
product in return of ______________
Premium. 148 First Insurance Company
is _____________________ Oriental Life
Insurance Co. Ltd. 149 Insurance Works
on the principal of ___________________
sharing Risk. 150 Documentation is
require for understanding between the
_________________ insured and insurer.
151 Risk determines the _____________ of
risk. level 152 Surveyor can appoint
under section 64UM for amount
__________________ Rs 20,000/-. 153 In
cashless facilities the insured contact to
Hospital network 154 _____________ is
work for both life and general Insurance

company Composite agent 155 First non

life insurance company comes in
_____________________ 1956 156 Many
complicated surgical procedures have
been simplified and do not require more
than a day's stay in the hospital or less
than 24 hours at times; for e.g.,
lithotripsy, cataract etc. Centre where
such procedures are carried are known
as. Day Care Centre 157 After state
forum decision __________ given to the
insure company for the final decision. 30
Days 158 Fishing vessels , selling
vessels, dredger and vessels in the
course of construction fall under
___________Hull insurance 159
_____________ covers Death arising out of
accident. Personal accident policy 160
_____________ is paid for the property by
the insure under reinstatement policy
Replacement 161 _____________ is not
considered as permanent total
disablement. Loss of hearing in both ears
162 Renewal Notice for motor insurance
is issued by ____________ . the insurer
before expiry of the policy. 163

_____________ is not covered under

standard fire and special perils policy
Earthquake 164 Communication process:
Source - Encoding - Channel - Decoding
Receiver.

Sample solved Question Papers for IRDA 50 hours Agents Training Exam. The
answers are marked in bold. From Sashi Publications, Kolkata
1. The concept of insurance involves a transfer of
A. liability.
B. needs.
C. ownership.
D. risk.
2. Rakesh recently bought a health insurance policy and a personal accident policy.
What main section(s) of the insurance market do these products normally fall into?
A. Life insurance in both cases.
B. Life insurance for health and non-life insurance for personal accident.
C. Non-life insurance in both cases.
D. Non-life insurance for health and life insurance for personal accident.

3. The main role of an underwriter in a non-life insurance company is normally to

A. assess the acceptability of particular risks.
B. certify a loss when claims are submitted.
C. design the structure of the products to be offered.
D. negotiate with the industry regulator.

4. Akshat is a relatively cautious person. In insurance terms, this will normally

increase the likelihood that he will
A. be considered an above average insurance risk.
B. be considered a below average insurance risk.
C. require insurance cover.
D. require reinsurance cover.

5. How are perils and hazards normally distinguished under term insurance policies?
A. Perils are medical factors which influence the risk of dying and hazards are
lifestyle activities which influence the risk of dying.
B. Perils are risks that policyholders will die before a specified date and
hazards are factors which could influence that risk.
C. Perils are factors which affect the risk being insured and hazards are the size of
the risk being insured.
D. Perils are factors which could influence an insured event occurring and hazards
are the actual events which will trigger a payout.

6. 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.


7. For a household insurance policy, insurable interest need only exist at outset and
at what other point?
A. The date the cancellation period expires.
B. The date a claim occurs.
C. The date the policy document is received.
D. The termination date.

8. Rahul is employed by Sunny. In respect of this employment, Rahul automatically

has insurable interest in Sunnys life up to what limit, if any?
A. Rahuls monthly salary.
B. Rahuls pension fund value.
C. Sunnys annual profit.
D. There is no limit.Sample Questions IC-33 7
9. Arun started a 20-year term insurance policy. Once established, when, if at all, is
the insurer next entitled to ask him for proof of continuing good health?
A. At no point.
B. After the end of the first 12 months.
C. At the point when he changes occupation or retires.
D. When a lapsed policy is revived.

10. The concept of indemnity is based on the key principle that policyholders should
be prevented from
A. insuring existing losses.
B. making false insurance claims.
C. paying excessively for insurance cover.
D. profiting from insurance.

11. Once an absolute assignment is effected under a life insurance policy, who will
be the titleholder(s) of this policy?
A. The assignor in all cases.
B. The assignee in all cases.
C. Either the assignor or assignee depending on the type of policy involved.
D. The assignor and assignee jointly.

12. How long is the free look-in period under a term insurance policy from the date of
receipt of the policy document?
A. 5 days.
B. 10 days.
C. 15 days.
D. 20 days.

13. A life insurer issued a quotation on 10 February, guaranteed for 14 days, which
was accepted by the customer on day 10. Consequently the insurer can only decline
this risk if the
A. customer submits a second quotation request.
B. insurer increases its underlying premium rates.
C. market place experiences a significant downturn.
D. material facts change.

14. A policy document for a money-back policy includes the statement the
proposal and declaration signed by the proposer form the basis of the contract.
In which main section of the policy document will this normally appear?
A. Attestation.
B. Operative clause.
C. Preamble.
D. Terms and conditions.

15. A life insurance policy can only be made paid up if what particular policy feature
exists?
A. Indexing contribution.
B. Nomination facility.
C. Rider benefits.
D. Savings element.

16. The main reason why a life insurance proposal form often asks for the
proposers height is to enable a reasonable comparison with the proposers
A. age.
B. gender.
C. occupation.
D. weight.

17. Where annually increasing flexible premiums operate under a life insurance
policy, what rate of increase will generally apply?
A. 2.5%
B. 3.0%
C. 5.0%
D. 7.5%

18. The amount paid out by the insurer under a 30-year life insurance policy
exceeded the sum insured plus revisionary bonuses. The excess is likely to result
from?
A. charges refunded.
B. a frequency loading.
C. a tax rebate.
D. a terminal bonus.

19. What normally happens to the sum insured under a life insurance policy once the
period of the lien expires?
A. It reduces.
B. It increases.
C. It is temporarily suspended.
D. It is replaced by a newly-underwritten sum insured.

20. The main protection need of a 19-year-old is most likely to be

A. self-protection.
B. home loan protection.
C. protection of dependants.
D. protection of childrens future.

21. Raunak recently arranged a life insurance policy under which he is classed as
the master policyholder. This addresses his role as
A. a creditor.
B. a debtor.
C. an employee.
D. an employer.

22. The need for investment advice from an insurance agent normally results from
what overriding key factor?

A. Absence of any long-term goals.

B. Inability to prioritise future financial needs.
C. Lack of market knowledge.
D. Shortage of available funds.

23. When undertaking financial planning for individuals without capital, what savings
need is likely to be addressed in every single case?
A. Emergency funds.
B. Funds for childrens savings.
C. Funds for educational costs.
D. House purchase funds.Sample Questions IC-33 9
24. Naveen is addressing his income needs by investing directly in corporate bonds.
In what form will he receive this income?
A. Annuity instalments.
B. Dividend payments.
C. Interest payments.
D. Rental payments.

25. Nikhil is looking for tax-efficient savings methods for his disposable income. He is
considering an equity-linked savings scheme, national savings certificates and an
endowment insurance policy. Premiums for which of these investments are allowed
to be deducted from his taxable income?

A. The national savings certificates only.

B. The equity-linked savings scheme and the national savings certificates only.
C. The national savings certificates and the endowment insurance policy only.
D. The equity-linked savings scheme, the national savings certificates and the
endowment insurance policy.

26. An investor holds a wide range of shares. If the Reserve Bank of India
announces a series of significant interest rate increases, the prices of these shares
are most likely to
A. become volatile.
B. decrease.
C. increase.
D. stagnate.

27. The main purpose of the guaranteed insurability rider benefit is to give the
policyholder the right to
A. cancel a health-based exclusion after a symptom-free period.
B. include his parents under the policy.
C. increase cover when a key life event occurs.
D. maintain cover despite a fall in investment value.

28. The changes in healthcare costs over recent years has had what general impact
on healthcare insurance?
A. A fall in average premium levels.
B. A reduction in underwriting requirements.
C. A rise in the need for cover.
D. A strengthening of the insurable interest rules.

29. 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.

30. Yash pays health insurance premiums for himself, his wife and his two children
aged 13 and 8. Premiums for which of these individuals will qualify as deductible
from Yashs taxable income?
A. Yash only.
B. Yash and his wife only.
C. Yash, his wife and his oldest child.
D. Yash, his wife and both his children.

31. The sole focus during a clients fact-find session was healthcare
requirements and estate planning. Which main life stage is he most likely to fall into?
A. Young married.
B. Young married with children.
C. Pre-retirement.
D. Retirement.

32. Apart from the salary level, what other key feature of Aloks job is likely to
have a major impact on the level of his pension, life insurance and health insurance
needs?
A. Whether the job is office or field-based.
B. The normal retirement age in relation to the job.
C. Whether the job is in the public or private sector.
D. Whether the job is manual or non-manual.

33. In the context of financial planning, how is the difference between real needs and
perceived needs best described?
A. Real needs are financial needs and perceived needs are non-financial needs.
B. Real needs are actual needs and perceived needs are based on a
clients thoughts and desires.
C. Real needs are identified by the insurance agent and perceived needs are
identified by the client.

D. Real needs are needs which satisfy an objective and perceived needs are needs
which do not satisfy an objective.

34. In order to fulfil the know your customer procedures, at what stage in the
financial planning process is the insurance agent most likely to request a copy of the
customers photograph?
A. At the end of the fact-find meeting.
B. At the end of the presentation meeting.
C. As soon as the application is accepted by the insurer.
D. As soon as the insurer is ready to issue the policy document.

35. An agent has recommended an investment product with non-guaranteed

benefits. The benefit illustration passed to his client will therefore use assumed
annual growth rates of
A. 5% and 8%
B. 5% and 10%
C. 6% and 8%
D. 6% and 10%

36. The main purpose of including commission details in the documentation to clients
is to increase
A. competitiveness.
B. efficiency.

C. flexibility.
D. transparency.

37. A client has been recommended a low-risk investment product by his insurance
agent, but the client insists the agent arranges for the money to be invested in a
higher risk product. What action should the agent take?
A. Carry out these instructions, but document that this contradicts the
recommendation.
B. Conduct a new fact-find.
C. Invest a reduced amount of money in this product.
D. Refuse to act for the client.Sample Questions IC-33 11
38. An insurance agent has advised a client to surrender an existing investment
product and start a new investment product. What key indicator should be used to
determine whether this advice was ethical?
A. The best interests of the client.
B. The difference in potential income and capital growth between the two products.
C. The flexibility of the new product compared to the old one.
D. The views expressed by the client.

39. What key impact will low persistency levels have on insurance policyholders?
A. An enhancement in product choice.
B. An improvement in investment performance.

C. An increase in insurance cover.

D. A reduction in benefits.

40. Raju died 5 years before the end of his 30-year endowment insurance policy.
What factor most likely caused the insurer to investigate the claim using the early
death claim procedures?
A. He paid the most recent premium during the period of grace.
B. His cover was originally accepted with a premium loading on medical grounds.
C. His death resulted from a recently acquired sudden illness.
D. The policy had lapsed and was revived shortly before he died.

41. A claim under a term insurance policy is submitted by an individual who has
substantially understated his age. As an alternative to paying out the full claim the
insurer is most likely to take what action?
A. Deduct the underpaid premiums from the sum insured.
B. Make the policy paid up.
C. Pay out the surrender value.
D. Reject the claim on the grounds of misrepresentation.

42. On the maturity of an endowment policy, a reduced sum insured is paid out.
What is the most likely reason for this?
A. The instalments were commuted by the policyholder.

B. The policyholders health seriously deteriorated during the policy term.

C. The policy was made paid up during the policy term.
D. The policy was subject to a lien.

43. What key event is most likely to prevent insurers from ensuring that each insured
person brings a fair premium to the pool for the risk presented?
A. A fraudulent claim.
B. A policy assignment.
C. A steep rise in inflation.
D. A sudden illness.

44. An insurance agent served an insurer continually and exclusively for 20 years,
after which he retired from work. In accordance with Section 44 of the Insurance Act
1938, renewal commission due to him after the termination of his agency can only be
withheld if
A. he ceases to remain a resident of India for tax purposes.
B. he survives beyond the age of 75.
C. there has been a change in regulator.
D. there is fraud involved.
45. Legislation gives which body the power to specify a code of conduct for
surveyors and loss assessors?
A. Institute of Insurance and Risk Management.

B. Insurance Regulatory and Development Authority.

C. Life Insurance Council.
D. Securities and Exchange Board of India.

46. What key legacy has been left by the activities of the Tariff Advisory Committee?
A. A central compensation fund.
B. Customer classification status.
C. Illustrative projection rates.
D. Standard policy wordings.

47. Apart from conducting a comprehensive fact-find, the other main action that an
insurance agent can take at outset to minimise the risk of subsequently receiving a
customer complaint is to
A. ask for referrals.
B. offer commission rebates.
C. provide detailed disclosures.
D. register with the Insurance Ombudsman.

48. An award made by the Insurance Ombudsman will only be binding on the insurer
if the
A. complainant accepts this decision.
B. Consumer Forum is involved in the case.

C. insurer signs a disclaimer.

D. value of the award is less than 2 lakhs.

49. A policyholder asked his insurance agent for guidance on submitting a claim for
the maturity benefit under his life insurance policy. Due to pressure of work, the
agent declined to assist. Consequently, this action is deemed to be a breach of the
A. General Insurance Councils guidelines.
B. Insurance Regulatory and Development Authoritys Code of Conduct.
C. Insurance Ombudsmans protocols.
D. Insurance Brokers Association of Indias membership rules.

50. During the process of applying for life insurance, the customer discloses
confidentially to the insurance agent that he had a mild stroke four months ago,
however this was NOT mentioned on the application form. In accordance with the
Insurance Regulatory and Development Authoritys Code of Conduct, how
should the insurance agent deal with this information?
A. Ask the policyholders doctor to send details to the insurer.
B. Notify the insurer of this matter.
C. Refuse to act for the customer in this case.
D. Respect this confidentiality by not discussing it with anyone else.