‘Lin Intemet Poo! business commission goes to_ ene | 2.Proof of age is recorded in the policy for > Vertcation + Atthe time of Clair ‘3Dectined Life business accepted by + Insurer 4Retention limit willbe lower for High risk business. 24 5.Loan can be avaliable onthe policy © Endowment Policy © term Policy © Money Back Policy © Ul .Agents wito provide rebate inthe policy is called + Fraud + Incompetent + Unprotessional How many Master policies will be issued in Group Insurance. ‘8 Most of Group Insurance comes from + Brokers + Banks + Agents, 8.Commissionis less in Group as compare to individual © True © False 10 Heatin care need and estate planning is required at which stage. + Presetiement DET 1 Sunda by gpg ee 48 Claw back commission is applicable on which + Lapsed F + Surrender + Claim t 20 Life table started from which ys 21 Excess of loss is applicable on the following C 22 Total claim for Rs. Glacs in previous yr. Group insurance policy Medical inflation 9% Profit margin 10% Premium for current yt hoe23. Medical Examinaticn cost is borne by whom a). Insurer b) Insured 24 Sumol pay payou:ls Rs, 6000001. wat would be premium 2 + Approx. Same Bit more + Much less + bi lower + Much lower jo Got 25 Commission rate paid to agent is need to be shown inthe policy for + trasprancy + None of the above 26 Ifthe weight mentioned by proposer is 68 KG instead of 89 Kg itis called ‘+ Misrepresentation + Fraud 27-AALifeinsrace policy can only be made paid up?Wnat particular policy feature exists. ‘+ Indexing Contributon + Rider Benifit, Saving Element ~/ + Nomination facity + None 28, Advantage of Re-instrance © Help In financial Wangement \ + Help in reserving tlethodelogy x + Help in investmen: Management + bae + Allof them 29.The main reason why a life insurance proposal form often ask the proposers height is. te enable a reasonable e2mparison with proposers ‘Occupation Gender Age Weight None30.A claim payable after the fe insured has survived the term of policy is called A Maturty w+ Survival + Terminal Death + None 31,A person appointed by Insurance Council to attend the grievances of policy holders is ealea = Complaint Oficer * Grevance Omcer ot ptanion we + Designated Offes a 2 None 32 If sum of present value of expected benefits payout is Rs. 250000) and sum ofall expenses is Rs. 80000! which of he following would be approx. amount of sum of ;Pesent value of premium for 10Yrs. Term insurance policy + Approx Rs. 2500c0/- ‘Approx Rs. 330001/- ‘Abit less than Rs. 250000/- Abit less than 330000/- + Approx Rs. 290000/- 33:1 sum of expected bereft pay out is Rs. 850000)- and sum of present value ofall the expenses is Rs, Rs. 15C000/- which of the following be the approx. amount of sum of present value of annual gremium ‘Abit more than 10,00,000/- + Approx. 10,00,000/ + Much more than 19,00,000/- + Abit lower than 1,000,0001- + Much Less than 10,00,000/- ‘4 Required solveney Mergént can be defined as +The quantum of minimum equity capital required by regulator. + The quantum of minimum allowable free assets required by regulator +The quantum of rinimum technical reserve required by regulator + Bac + None 35 Termination expenses are those arising + When polices are issued ct Regularly during Folicy termination »” When policy termination at a result of an insured contigency + ABC + NONE26 If total claims of a group health policy was Rs. 5laclast year and medical inflation is 8% Profit Margin is x. The group premium is Rs. 594000/- what is X + 12% 4 ipa > aud yeh om we + 1% 4 2 10% oft \ + None i % 37 On sale of insurance policy, ‘can be entitled for commission. + Shareholder + Policyholders + Distrbutors + Distributors/Policy olders + Distributors! shareholders 38.Which is true + Interm insurance aroduet, the cost of benefit is very small inthe equalon of ‘premium determantion because overall mortalty rates are very low. + Pure premium isthe sum of future expenses benefits payouts increased by ‘expected investment income + Iman annuity products,the benefit payouts stop when premium payment stop. + Bec + None. 39,Commutation functions are generally used under which methodology. + Premium Method + Calcuualion method Yun 7 > Formula Method ee ( - + Cash Flow method wt None e - 40, Behaviour of agent who tel his client that the advice given by another agent is wrong + Non professional CChidish Dominating Interfering None 41. Expenses in pricing could be + Fixed + Variable + Direct + Indirect.Place 42, Which is true: ‘Accading commiss on can be described as the commession paid By the reinsurer to insurer: : + Reinsurance Avrargementhelps an insurer indeveleloping properinvestment —_) strategy 6 + Excess of oss reinsurance means that risk beyod alms passed to rinsurer a ree puicat L) abro Adena Ve bt Se None a 43,nsuter prefer to undewite___ groups to avoid the possblly of advere selection + Very Large Very small + Small Large + None ‘44 Which is protection plan ‘Term Insurance Endowment Plan Pure enowment Annuity product Allof the above. -45Annuity product donot give benef in the form of ‘Annuity Lumbsum Monthly Quarterly None 46, Pension payable to amember a arate of Rs, 10000)- per month for atleast 10 ys. ‘What annutes are sual or this person Joint fe Annuity + immediate Anny + Last Survor Annuiy and Single Life Annuity ) > Aamty certain fon Years an frie therenter — None ’ 47 Metal rte in he new ite tables compare texting willbe most)! ‘Same jie Diflerent 7 ee ae Higher Lower None48.Higher commission rates resuitin to + Less death claims . "Lower benefits to policy holders. veo + Less underwriting requirements \ + ASB + Allof the above 49,Product pricing is independent of ‘ 7 Business Mix Hoes Investment Policy Competition Reinsurance Policy None 50. Calculate avarage claim Size No of policy holder 1500 Expected no, claim 10.Total clair amount Rs10 lacs + 1,80,000) + 10,00,000 + 1,00,0001. + 80,0007. + none 51.0n the maturity of endowment policy, a reduced sum Ineured is pald out? What is the mostly likely reason: + The policy was subject to fen + The policy wes paid up during policy termination + Instament were cummuted by poliey holder + The pocynoiders health seriously deteriorated during policy term, + None $52.Insurer prefer to underwirte {r0ups to avoid possibilty of adverse selestion Very Large + Very Smal + Large + Small + None 53.Mortlity isthe most important factor for pricing of + Term Product + Whole Lite + Endowment + UUP + None‘54 Retention limit are gererally higher for + Low Risk Plans + Plane with high frequency and low severity Plans with low frecuency and high severity ABC AaB '55.NEW Traditional product guidelines states the minum guranted surrendere ‘Would be x% of the total premium paid excluding any survival benefits paid. I the policy \was surrendered in the Sih-7” year. What isthe value of x in the above statement + 80! 5 BR Gected toe], Premivn Cid — “pont. Se Bande eur ha Cos wp vol bey 1 Mire, th Boe Fe Tsh Apne hep wane from ed yea SEWhichis false — Th dye Jeante toe + Profit margin can be defined as sum of future net cash flow to sum of premium + Solvency margin can be defined as the marginly which assets exceeds the ably the company. + Profi margin canbe defined as sum of fture net cahs flow to fist year premium oe aac + None 57,As an insurance intermediary bank act as 7 Agent + Broker Direct seing force Callcentre + None 58.What is profit Margin? + Prof Premium >- + Profit/Sum insures 3 + Profit No, of polices —s< Present value of profit over present value of premium + None 50, For 10 years term insurancepoiy, wth sum insured § laks, what wll be the highest? + Single Premium ‘Sum of Half Year Promiums Sum of Yealy Preniums. Sum of Quarterly Premiums. Sum of Monthly Premiums. Spl, Sauna vote = Sew ney Rename Papier sms indi tee eee(60. fin a single premium term insurance policy, sum of expected payout and expenses is Rs.2,50,000)- released at the end of the term and duration of liabilities is 18 years. What will be the single premium assuming discount rate 9°47 ‘Approx. 48,000/- ‘Approx 69,000/- (1g)'® = Weyl ppone8 70) Z Asaaee YAR ‘Appr. 53,0001. = 58990 6e S50.Nnich ofthe flowing statement aso? Reinsurance arrangement helps an insurer in developing reserving methodologies: + Reinsurance arrangements helps efficient capital management and in controling new business strain + Reinsurance arrangement through which ceinsurer is obliged to accept reinsurance on all the covers within the scope is known as trealy reinsurance + ABB } + None 60.Which ofthe folowing symbolizes ciscount rate? _--4. Expected retums onthe find ¥ . Future expected expenses ©. Expected mortality rate 4. Expected equiy returns ©. None of above Which ofthe following statement i rue? 4. Solvency margin can be defined as the margin by which assets exceeds the technical reserves New business strain can be defined as the potential loss on a policy ‘Profit margin can be defined as sum of future net cash low to frst year premium o AaB 2, None of above2. Which ofthe following statement is true? ‘. Anagent can only work for maximum three ife insurance companies, while a ‘broker can wore for maximum six life insurance companies '. Financial condtion of the policyholder is an important parameter in determining the commission rates ‘c. Retention probabilty can be treated as an important parameter in determining the commission rates 4, A&Conly 8. Allofthe above 3. In case ofa ‘single premium’ 10 years term insurance policy, the policy holder dies in frst year, what wil happen 1. The nominee will gt the sum insured along with the amount of single premium and cost of medical test if any b. The nominee will get the sum insured along with return of value of future 9 years premium 6. The nominee will gt the sum insured along with the amount of single premium 4. The nominee will get the sum insured @. None of the above 4. Which of the following statement is true? ‘2. The reinsurance arrangement through which the reinsurer is obliged to accept reinsurance on all the contracts within the scope is known as Treaty b. Reinsurance arrangement helps inefficient capital management andl in controling the rew business strain . Reinsurance arrangement helps an insurer in developing reserving methodologies 8. ABBonly «. Allthe above5, Under this methed , borus is declared as x% of sum insured (Face value of basic, ccantract) (or x% of premium) a. Simple Reversionary Bonus ». Cash Bonus ©. Compound Reversionary Bonus dd. Paid-up Additions ©. None ofthe above 6. Surplus ina valuation arses because of favorable experience in a, Interest yield ». Moraity ©. Eipenses 4 Alte above (a) 5 7. Diect expenses arsed into 2 inal expenses ©. Renewal expenses €. Termination expenses <4, OnyARB © Aloft above 8. Under this method, the policyholders enttled to receive cash as bonus fora policy year 8, Compound Re\ », Paid-up additions onary Bonus &. Simple Reversionary Bonus Cash Bonus 2, None of the above 8. Groups characterized by the existence of definite relationship between the proposer and the inaividual member are called : ‘@. Non-conventional groups». Formal Groups "6. Conventional Groups 4, Informal Groups ©. None ofthe above 410.An insurance Company makes profit a. Through ‘a proft margin’ loading in premium . By charging acitional amount rom the policy holders ©. By inflating the expenses 4d. By deducting a profit margin from maturity claims «@. None ofthe above ‘1. Which ofthe following is not a factor that influence design of insurance product? ‘2. Proftabilty , Customers expectation €. Regulation 4. Sales 7, None ofthe above +12.Mr, Sham who is 22 years old now buys aterm plan with policy term of 15 years {and sum insured cf Rs, 5,00,000/, ifhe died in the age 45, how much his rominee would get? @. 1,00,000 b. 2,50,000 7 © §,90,000 ao . 1,00,000 18. Which information if not disclosed can nullify the policy? 1, Important b. Valid Ae. Materiat4, Critical ©, None of the above +4. From an underwriting point of view . while deciding on priaing of products, what ‘can be the best example that can be assumed with regards to mortality rates? ‘a, Where number of claims are higher than or equal to the expected number of claims >. Where number of claims are lower than or equal to expected number of claims Where number of claims are equal to expected number of claims 1. Where number of claims are higher than the expected numberof clains fe. None of the above 15: Traditional ite insurance products investment risks are with 2, Policy holder b. Agent ©. Regulator 4. Government _ ® Insurance Company 16.A nity rate of 10 per thousand ln a population of 1000 would mean mortality rate of a 0.01% b. 10% AN 6 140% wk 4.1% fe. None of the above 47. Which among the following is insured by a resinsurer? 6 2. Allpolicy hokders directly Large policy holders directly . The insurer 4. Band only Ns aS@. Allthe above 418.\hich one ofthe following ls not group to the insurance product? ‘Trade unions eb. Group of individuals ©. Group of employees 4. Club fe. None ofthe absve 19.The reinsurance arangement in which rsk of every policy is shared between the insurer and the refisurer is known as ? 2. Surplus reinsurance treaty b, Quota shave treaty ©. Facultative reirsurance arrangement 4. Aand B only fe. None of the above 20.An insurance company has sold 25000 insurance contracts o 45 years old male individuals with one year term . Assuming mortality rale of 1.5% for this ‘population, what will be the pure premium cost for an individual of the group ‘assuming total sum insured of Rs, 1,000,000 for exemption. 2. 5,000 ‘ = 15000 \ ©. 1,500 7 74, 10,000 ee ox ®. None of the above 21 Which of the following depicts the purpose ofthe claw back conditions? ‘2, Management commitment towards the business '. Toensure intermediaries towards in-orce policies 6. Tocensure prorer claims underwriting in case of claim ‘To encure proger corporate governance by the insurance company by adhering o all RDA regulations©. Allof the above 22,n a with prof product poly, who cares the investment sk 8. Shareholders , Employees ofthe insurer « Potoyholiers 4. Only poloyholdrs and shareholders ©. Allofthe above 28.Commiasion eects the intrest of a. Shareholders . Stakeholders «. Polcyholders 4. Only shareholders and Stakeholders «2. None of he above 24 Insurance premium depends on 1. Commision eb Claims 25 Pricing of insurance product relates to a. Ineome », Revenue © Guidetines from ministry 4. Tax ©. Allofthe above 26, Commission rate fr fst year charged from 2. 40% to 35% b, 35% to 25%6 60% 10 40% 4. None ofthe above 27 Medical expenses are bone by a. Insured eb, Insurer Agent Broker ‘2. None of the above 228.Term insurance means _-8, Death benefits . Survival benefits 29.Whole Life Ineurance means 30-Pure endowment plan means 31-Annuities cover benefits of a. Death b. Survival ©. Injuries 4. Disabilities 32,Last survival annuity means 33.Accident benefit rider cover a, Death », Disabilities © Both death and disabilties 34,Paid up benefits 35. Method of bonus payments 36 ,Ofice premium means to meet affce expenses37.LIC premium depends on ‘@, Income wb. Age s. Health d. Allofthe above & OnlyARB 38 Rates of commission are lower in a Fresh policy b. Renewal policy 39,Retention is high when a. Low frequency & high severity +b, Low severity & high frequency ‘40.To whom, the policy holder directly pays the commission @ Tothe agent b, To the broker ©. To the market executive of the insurance company 6. A&BOnly e+ @ None of the above 44.10 India life insurance companies are not allowed to price Liability products Annuity products ©. Unit linked products: 4. Participating products. ‘e, Health insuranoa products42 New business strain can be defined as, ‘a. Excess of inception date castrintiow over cash-outiow . b. Excess of inception date cash-outfiow over castvinlow = \ «, The potential loss on a policy 2 Ut BEC only 2. None of the above i «© nat pan medial oxaninaon severed, wheter be the amount of ve & Annulty b. Term Insurance ‘©. Group Insurance 4. Endowment ©. None of the sbove 44,Aife insurance potcy can only be made paid up. What particular poliey feature exists? Sa. Indexing contribution }) b. Rider beneft _2anrecerat « }SHLMARWAHL MARKS SECURES osjo5/2015, 4 fe isucance proposal as forhelghcompon with ANS WEIGHT 2, RB announces ate nereasein interest hen price of Shes ANS: DECREASE ALWAYS ‘OPPOSITE OF HETEREST RATE | msurance agent askfor customer shotoraphs at which stage ANS ~KYC | Person es year before 30 yar endowrmet poly, what factor cused to vestigate the ‘hain, ANS-POUCY MIGHT HAVE BEEN REINSTATED IN VERY NEAR PAST 5. Onmatury ofthe endowment policy the ceduced Sum Insured paid out reason. [ANS-PIAD UP POLICY : 6. Concept at insurance involved transfer of ANS: RISK 7. Household insurance poi, insurable interest must exis ANS: BOTH AT THE TIME [OF INSURANCE AS WELL AS THE TIME OF CLAIM | What happens to. once the len period expies. ANS- POLICY RUN AS USUAL 9. Which mainstage requires health care requitement and estate planning, ARS- AFTER RETIREMENT 10, Difference between eal and perceved needs. ANS. 13 nvestment product elated question was dere asking about annual growth rate (OPTiOS WERE 5.58, 10% ANS 12, Forcacer which ier use. ANS-CRTICAL RLNESS RIDER 13, 5:4 momericas were os death ate afer 1t02 yeas 14,2 utara were onthe cleulstion oft premio gin so many ets. = 1S. nthe sara of basins profit equred ANS AMMUM 6. whieh mere ier ip oF term pan in terns of inenen sk, ANS-ULP 17. Wumereateonpramium where presen value of. 2nd expenses ware gen. 28. Doesnt tae ee yr by2 pons ee outs. 30yns govt bond and sees @ coupan govt dond ANS- FROM ASSET MANAGEMENT BOOK 1, Advantage of reir 2c guerton were there, 28, Quoin on RSM and REC, about festure ofbth-TRUE- FASE STATEMENT, 2, Paley for morgage. ANS-DECREASING TEN ESURANCE 22, Menu and minimum teres rte uetlonson term and endomment plan o5,10| yeas ANS MAXIMUM ON TEN YEAR SIGUE PREMIUM POUCY AND AAINIAUM 4 YEARS ENDOWMENT REGULAR PREMIUM PLA. 23, 2humereal wet othe calcio of eens 24. Ceecng commision pad by. ANS-RENSURE. 25. Agente pid commion by who: THIS QUESTION REPEATED TWICE AUSANSURER(PHOTOS REQUIRED AS HC AT WHC STAGE A FACTRNDING PRESENTATION BY INSURED CCACCEPTANCE OF RISK ussuance oF Foucy ‘ENONE OF THE ASOVE (THERE WAS & QUESTION IN CONNECTION WT LAPSATION S BENEEITTED TO THE INSUREDAVHEN WL. BETHE APSE IS HIGHER ‘QIN A ant PoLCY RENAL OF RS-2500,S.-7S00000, WHAT WILLBE FIRST YEAR EENSES IF PROCUREMENT COSTS 500/- FIST YEAR EXPENSES 1s 205 OF ANHUAL PREAIUM, ASSO PER POLICY EPENDATUNE AD OTHER EXPENSES 25% PER 1000) f= INTALEXPENSES(PROCUREMIENT} 284 1 PREMIUM + VARIABLE EXPENSES ON THE BASS OFS. + FXED EXPENSES PERPOUCY 2500 © 2704005) > 46000 HONE OFTHE ABOVE nay ean following defnton for enerance ceding commision Solvay atl 1.50 0 150%), ns rac asi {. WHILST STARTING BUSINESS FOR GROLP POLICY, WHAT S REQUIRED, {WHATS REQUIRED FOR STARTING INSURANCE FOR GROUP POLICY. ASMALL GROUP 3. aRGe GROUP VERY LARGE GROUP D.COHESIVE GROUP FE: MODERATE GROUP INSURABLE INTEREST G. SUNNY AND RAHUL (QL AN AGENT ASK HIS CUNT TO SWITCH OVERIN INVESTMENT PLAN, ISA ETHICAL PRACTICE IN WHAT CONTEXT,(WHATS THE CoMmalston PAYABLE ‘A SINGLE PREMIUM MAK. 2% 8 (. WHATS THE: st YEAR COMMISION , THE COMPANY IS LESS THAN 20 YEAR OLD. (0. HOW MANY RIDERS ALLOWED IN ONE POLICY Aa Bs co O.BANY Q.CROCALCULATION REVERSE QUESTION FROM 33 70 30 ‘©. BONUS DECLARED IN THE LAST YEAR WAS X36 OF A. INTHE CURRENT YEAR, IT 15105 [OF THE AY/OUNT OF BONUS DECLARED IN THE LAST YEAR, IF SUM ASSURED f5 100, IF ‘COMPOUND REVERSIONARY BONUS(CRS) 15 RS. 30%, WHAT IS THE VALUE OF x Asm 23% 2% WHAT OFFICE PREMIUM ANSWER. “PUNE PRENIIU§ LOADED WITH EXPENSES I THE (©. WHAT WILL BE THE EFFECT OF INFLATION, a. ecuNeo ure (QL RETENTION LMT IS BASED ON A FREE RESERVES WHERE THE LOSSES WOULD BE MINIMUL c ABBIS connect (. RETENTION SHiAL BE HIGH IN HIGH FREQUENCY, LOW SEVERIETY- REMEMBER QL RETENTION SHALL BE LOW IN LOW FREQUENCY HIGH SEVERETY - REMEMBER ‘G.ABANK CAN WORK FOR MANY INSURERS AND AN AGENT CAN WORK FOR LIFE AND 1 NNOW-LIFE COMPANY( 2 QUESTION IN THE SHAPE OF TRUE AND FALSE.)Ic 93 NEW QUESTION PAPER tL { Rskesh reaenibowght heh insurance pay ada pesonalaclsnt pay What man $27) of ernie mat co eae 902 Normally fa Sse murano in tath ease Le eurece fox eal and nano eu pesca sce {Now donsurnos tn both aaee, ©. None nsraroe for heal a ite surance fo porta ecient. 2 Altar elev cautious persn In inguance terns th il nomaly nore he Ivano hal ei Abe consider an above average neues rk £2 be soneiere «bow sate erases tak {Create mavrence cover 4 insures em tere euRorag eae best descr a ht typeof ok? A Fancast B udanertl Horegensan BD. Specustne 4 Rahul's employe by Suny, neg eplymen, Raul sutra has nsrble ‘ee Surry lle up toual ie 9-5? fans monty sry Baars pens ord va, Sums! oth Ta concep of mdarmiy ie bated an he kay prince Ut ployer ov be eaentes fom Achswing oxsieg esses Baling ate ranes cas. pyr excwoly fr eutence cover peeing fem insuanoe 5 How ings he ree cin aod unr Fol cocsment? Rte Boe. Bane, Baas hrsirance poly om me aa of ei fie 1 nicy cocument or money ack ate hos Ie seen he propo ae | sesaraton snes by te proposer orto aus tha cotec! with main eee the poigy document alts normally epee? Stes 8 Cherie cause © Preamtie 1. Teme an candins 8. The man eeson wt 8 He ineursiceeropst fxm la aks fore popes eh eto rable a wasorablecomparecn th ne rope’ Boge Berar ©. cecpatonD.sion, The snoun pa out by the instr unde @ bye He raurarcepalcyexeneded he som ‘utes gis cevairaryVorauon Tha ences ikl oasis Fan? hares retina, Be renverey fooang Cptmreone Sin temnal bons, 10, The man protecion need of 9-yercldis most hey ‘salptacon 1 home ben potcton 1, pact of dependents DBeteeton of emaron's rs “the mod fr aveanent ade fom an surance agen normally csi om what rer hey tacar? AvAbsence ofan longterm goals. niyo pinto fre Paci needs Lee of martes know . Storage of avalabe rds, {2 Neveon's acthesing his ncome needs by nesng ect compara bonds. nw ‘orm ba ec Pe care? asnuty estaente beast payne. .fnret peyote ‘ead ieranatseteoes, the pcs fsa Shas ae mast ely fo ©. sae stagnate {4h changes shasta ests over reenter hashed whet gare! inpsst on featnearensrence? 2. Rta in average per foes BLA SHengierng ofthe twa mrt aes 1. Yash pays neath insurance premiums fins, is wee and ise crea aged 13nd 8 Prema or mich o these rave wit quae dedueibie or Yash labs income? A Yecr Yee and his wie oy. Eye is te an i ton Yeah hie ws ana both i chron Sample Quctins 16330 18, Apart tom he ely ees, wa tar key etre lis oi ly to havea or ‘ooctan tha evel ha pest fe aguraica ab healt nutans neeas? [Xie me ob econo ei.eeos The normal aternt age aon othe E-dincie theo ih re aubae or peste ser, Whee ef manual or sonnel1. nde to foe trom your cusoner prorsaues, syns lage nthe heel tari [ores she esse ager most aly lorena! aay Ine sores pegs A ond ete facto recy B.ALPs endothe presaniaan cing. -Aa soon she appteaton scope by tha tre '-Aasoon as enero 6 edt anu te pelysocament {8 The mainpupose of cdg conmicdon deals the Sacunntaon to cet to 2 campetiveross B.eticeney Cenc Diransatensy £9, Aninssonce agent has abies 3 cfontto serena an xing nvestnent ped ana ant 2ow nee podues What Key West chu oe aed lemme water Ine soles ‘tos een? ‘The bet rests of i clot The clieencein potenti cere and espa roth ele ine two presi Th lexi of he ew pace amos toh ly one . The wows expaseed byte cent 20, alu is 5 yore bear the en the Sear encour surance cel. What ator ‘most kay cau ho insurer ta nveszte he clam ng th sy death clam ocetes? ‘4H ei th most recent promt stg hj of sce, He cover was ormaty accented wh grenhim natch medoa runes sis coun ouuins om a rocemy ase sutany nese The ptey nao oeoed and ae ved sare et 2, On he mau ofan noun poy, 2 cca suming out Waite moat ‘A Theirtanerts wore comente byte poten £m peyote nal seus carr cng ne cl tem, Te py at macs pp ng he iy, ‘Te pelt sujet fo ie 22-An insurance age sored an srr conilouaty an xcs fr 20 years. ee rich be ‘ees tom work in soardance wl Scion & otha Insane hl 9028, ronena carcass {ieio him are anton ona ageney ean or Uo wide he consent oman s reste finda x uses Be sures beyond tho ogo 7, {thee tat toons change requir Date ra Pvohoa Sample Questions 9 2 23 What key legacy as en et bythe ates of th Tal Aso Commies? ‘A A cent compensation und 6 susratve erojcton tes, Stour poy wei 24 An anata ade by ne insurance Omura wiry ba inn on he nara fe 4 arpa sozeps ne seer 1B Conuma Forum mead ne case inser ss a ddetmer vais fe ovaries than 2 leks25 Dung the proces of appa fr fe insutren, the customer docs cnt oho ‘mance agent the hed rd sek eur marth ago Naver the wa Noe noe oa th aeteaton fr In secordonce wih th nauiae Repioy ans Dovey Sete (od of Conch, how shou te neurarce agent eu wt ne Wears Aik ne pocytaders aero send cele is eas Naty the srr of te mr, False at tm usta ts ea '- Respect hs contdenily by rot descsung wh anyone eee 28, Me concent af nsranes inves ohana of A abt. Breese © mmertie 27 Jee mal oe of an undorwtar 3 nan sures ccnp momma to ‘4. assess ie scenery of pater foes cry alse when came ae sued ©. design te sictte e h product be oferes soot ath te uty Fagus 23 ow are perks and haze noxmally ising wider ensue potas? 2 ers ae mca actors which tusnca tral of ing et has oe Becck atvtee ‘then uence the rane 5. Pare te ak it poorer ilo bor 2 ape dota anshica ar eloe when Seni face wih aoc Ne rk bneg sed ana haat re the wo he log Pets re ates whi coud infuenon an nan eve cecuing nd haze ao he cus vere wc wal agg payout 2% For atovecold instance poy, sabe Ines raed eye cuts ada hat tira pae Te date na concotaton gro expe 8. The date wosim cose, .Mesate nm poy oven eos 3, rn ta 3 2060 em insurance pee. Orcs stated, when, al he never ‘gerteited oak im for pool font good Mess Ream pane Bs te one ote fl 12 mons Atte poh when Rs changes otpeion cates, 15. 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Norra fac fer anes _ DeSanings Seren 24 Were araly neweoshg Henle pair arate undor as sires pode, what ae of caste wit general spo Rice perc 250% ery 126, at normaly haepane to aur eur ur = ls surance pote ence he pens ot ine len axes? a teewere Bt homes 6. temps sunperdes Die replces oy neupancoriten suminsnes 235 Rous cect ararged insane polo ur whch hes assed a he maser oinjatier Tne ekzeunes ele oo Srteaie Semon ©. en mplyes. Dimenpioyer 437 Wines uvaratng thane lanng fords witout capital wh singe ees They tbe ztzessesn evar slg coe? 2 Eergency tunes. 2B Sure fer tens sao, Func or eauatonal oat D. Hetsepushase fonds Sample Questions 0339 28. Nai oting for tee evingsnetacs ors dgportle nme. He conden cc. earge schema atonal cave oo cates ae an ere surance fy ressna or hia cee invents are owe os tes ra Ns ele 1 The canal esvngs carats coy, Tes equines stings scr nd the atonal cawngs cricats oniy 1. 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Bo Be (ie fa Te D 3018|. MINIMUM COMMISSION FOR AGENTS IS SET IN INDIA OR NOT (ANSWER —NO) 2. WHICH STATEMENT IS FALSE (3 QUESTIONS) 1) COMM FOR 1” YEAR IS HIGHER IN SHORT TERM POLICIES THAN HIGHER, TERM POLICES (ANSWER) IN) REVRSE OF ABOVE Ill) KEEPING ALL OTHER THINGS SAME, COMM FOR 1°'YEAAR IN ENDOWMENT POLICY IS HIGHER THAN FOR SHORT TERM INSURNCE POLICY. 3 CUSTOMER AGED 32 VEARS, PURCHASED POLICY TERMI OF 10 YEARS. SA=5 LACS, DIED AT THE AGE OF 46 YEARS. HOW MUCH BENEFIT WILL RECEIVE. ( ANSWER} 4 IN STARTING & BUSINESS, THE PROFIT REQUIRED IS (1) MINIMUM (2) OPTIMUM PROFIT (3) MAX PROFIT, ( ANSWER ~ MINIMUM) 5. PENSION REQUIRED BY & PERSON IS MINIMUM FOR 10 YEARS AND AFTER THAW IF HE AUVE WHAT ANNUITY POLICY iS SUGGEST--—(A) ANNUITY CERTAIN FOR 'N’YERS (@) LAST SURVIVOR ANNUNITY ( ANSWER =A) 66 A PERSON DIES OF NATURAL DEATH, WHAT RIDER CAN ADD IN HIS BENEFIT AA) ACCIDENTL BENEFIT RIDER 8B) ACUTE DIESEASE RIDER () PERMANENT DISABILITY RIDER 1D) TERM RIDER. (ANSWER TERM RIDER) 7 AGENTS GIVE TEMPTATION FOR SHARING OF COMMISSION, SUCH AGENT WOULD BE CALLED 18) CORRUPT ( ANSWER CORRUPT / UNETHICAL) 18) UNPROFESSIONAL 4 INONLINE POLICY PURCHASE {A} NOBODY RECEIVE THE COMMISSION ( ANSWER A) 3B) IS POOLED & DISTRIBUTED AMONG ALL AGENTS 9 POLICY DOCUMENT IS BEST DESCRIBED AS |A} CONTRACT BETWEEN INSURER & INSURED ( ANSWER ) 'B) EVIDENCE BETWEEN INSURER & INSURED. 10 MR, RAMESH PURCHASED A POLICY FOR HIMISELF/HIS WIFE & HIS 2 CHILDERNS AGED 13 & 8 YERRS. HE WILL GETINICOME TAX REBAE FOR 1A) MIMSELF 8) HIS WIFE ) His CHILDRENS ) ALLABOVE ( ANSWER} {IL INSURANCE IS BEST DESCRIBED AS A) POOLING OF ASSEST/SHARING5B} POOUNG OF RISK/SHARING ( ANSWER) } POOLING OF PROFIT/SHARING D) ALLOF ABOVE 8 112 ULIP STANDS FOR [A) UNIT LINK INSURANCE PRODUCT ( ANSWER) 8) UNIT LINKED INVESTMENT PRODUCT 433 RISK RETENSION IS HIGHER/LOWER IN AA) HIGHER RISK VALUE 8) HIGH FREQUENCEY LOW SEVERITY (©) LOW FREQUENCEY HIGH SEVERITY ANSWER) D) NONE {16 PRESENT/FUTURE VALUE OF SUM INSURED IS RS 3.50 LACS PRESENT/FUTURE VALUE OF EXPENSES ~ RS, 80,000 SINGLE PREMIUM WOULD BE 2) LITTLE LOWER THAN 2.30 LACS 8} APPORK. 2.30 LACS ( ANSWER) ) OVER 2.30 Lacs 1} AROUND 2 LACS, 45 ENDOWMENT ASSSURANCE WITH PROFIT SARS, 1 LACS, TERM ~20 YEARS. HE DIED S™ VER AFTER PAYMENT OF 6 PREN. [WHAT AMOUT WILL HIS BENEFICIARY GET. BONUS DECLARATION AS FOLLOW PER fs. 10002" 49, 2-4, 3" a0, 450, S™—50, 6-60 BENEFIT RECEIVE WOULD BE RS. 1.23 LACS OR 1.28 LACS ( ANSWER 1.23 LACS} 116 NON CONVENTIONAL GROUPS ARE LESSS HOMOGENOUS 117 GROUP BENEFIT CONTRACT PURCHASED BY EMPLOYER FOR EMPLOYEE MAINLLY FALLS UNDER — [A) GROUP TERM INSURANCE CONTRACT (ANSWER) 8) GROUP GRATUITY CONTRCT--STATUTORY UNDER 197% GOVT OF INDIA ACT (©) GROUP HEALTH INSSURANCE ) suc 38 DISCOUNT RATE OF IVTERESTIS GIVEN BY |A) RATES PREVALING ON 10 YEAR GOVT. BONDS ( ANSWER) 8) TES PREVILING ON EQUITIES MK OF (a) & (8) ABOVE, 19 CAP PUT BY GOVT ON AGENT COMMISSION INFORM OF 'A) CASH ONLY (B) CASH & IN KIND PAYMIENT {C) CASH & GIFT (0) NONE (ANSWER- » 20 ASM I5 EXCESS OF ASSESTS OVER LIABILITIES.21 AS PER LATEST GUIDELINES—WNAT IS THE MINIMUM SURRENDER VALUE 22 WHATIS PROFIT MARGIN 23, WHATS OFFICE PRERNIUMA 24 IN WICH YEAR NEW TABLE INTRODUCED ~01.04.2016 25 WHATIS PROFIT MARGIN 26 ADVANTAGE OF Ri 'A) U/W GUIDANCE (B) HELP IN DESIGNING & PRICING (C] HELP IN INVESTRAENT OF PRODUCT.) ALL ABOVE ~{ANSWER D) 27 FOLLOWING CONSIDERED FOR PREM RATE {A)CORMISSION (8) INTEREST {C) EXPENES (0) MORTALITY (E) ALL (ANSWER E) 228 INIMAUM TERM FOR LIFE INSURANCE POLICY 15-~1/2/3/45 YEAR {ANSWER-S YRS) 29 BANKS ACT AS |A) CALL CENTRE (8) AGENTS {C} BROKERS (0) DIRECT SELLING [E) HONE ( ANSWER: 8) 130 WHICH OF THE FOLLOWING 15 RENEWAL EXPENSE '8)PUBLICIY (8) 2° YEAR COMMISSION [C SSUE OF PREM NOTICE (D] NONE ( ANSWER-C] 31 St~ 1 LAC YEARLY. PREM FOR 30 YERS. POLICY TERM WITHOUT PROFIT. DATE OF ‘COMMENCEMENT 25.10.1993. 2" UNPAID PREM ON 25.10.2001. FIND THE PAD UP VALUE '4)30,000 (8) 25667 () 26667 (0) 26666 (E) NONE ( ANSWER- 26667), 32 WHICH OF THE FOLLOWING IN AN EXPENSE |) INVESTMENT {B) WITHDRAWL {C) CLAIM (D] MATURITY (D) A/B/C (E} NONE {answer ~c) 3 [MEANS UST OF PERSON WHOME AN AGENT TO PROCURE: [AY PROSPECTS (C) PROPOSER ( ANSWER- PROSPECTS} 34 NON CONVENTIONAL GROUP ARE |A) HOMGENIOUS (8) LESS HOMOGENIOUS (C) COHESIVE (D) NON COHESIVE E) [NONE (ANSWER—B) 35 MOST IMPORTANT FACTOR IN CALCULATING MORTALITY RATE |A) AGE {8) WEIGHT (C) OCCUPATION (0) HEALTH (E} NONE { ANSWER- A) 36 MEDICAL EXPENSES|A) DEPEND ON GEN DER 8) FIX8D PER POLICY [C) DEPEND ON 51 (0) DEPEND ON PRE (E) DEP ON TERM ( ANSWER- 37 DIRECT EXPENSES ARE DIVIDED INTO |) INITIAL (8) RENEWAL (C) TERMINATION (0) 4/8 (€) ALL (ANSWER ~ E) |38 AN ANNUITY PLAN PROVIDES AN AMOUNT AFTER A SPECIFIED PERIOD 'A) DEFERRED (8) IMMEDIATE (C)A [D) NONE ( ANSWER- A) 39 LAPSE RATE SHOULD BE ZERO 40 CLAIN RECEIVED IS RS 1.LAC UNDER MEDICLAIM, MEDICAL INFLATION 5%, PROFIT ‘MARGIN 1055, CALCULATE PREM. ( ANSWER-1,17647.05) {41 SURVIVALRATE AT 50 YRS #78670, AT i YRS = 76000.FIND MORTALITY RATE AT 50 YRS. ( ANSWER ~ 0.85195) {42 COMM RATE IN TERM INSURANCE IS LOWER THAN ENDOWMENT POLICY. 43 NO OF RIDERS AVAILABLE IN LIFE INSURANCE POLICY-~{ ANSWER MANY) {4g MORTALITY IN A CTY 5 20 PER THOUSAND. POPULATION OF CITY 1S 1000, FIND THE MORTALITY RATE. AA) 156 (B) 2.10% (C) 1.02% (D) 2% ( ANSWER. A) {45 SUM INSURED IS RS.2 LACS. PISCOUINT RATE 1 6%. TERM OF POUCY IS 25 YEARS, FIND SINGLE PREMIUM. { ANSWEX =H. 63,453) 46 SINGLE PREMIUM |S SOOO, TERM -15 YEARS. DISCOUNTED RATE-6X, HAD I BEEN 1%. FIND SINGLE PREMIUM. (ANSWER RS, 3778) {47 DISCOUNT RATE 994, 54-1000, CRB {COMPOUND REVISIONARY BONUS}. REVISIONRY 2°° YEAR DISCOUNT 1533 RUPEES. X15 ‘n) 3{8)4(C)5(0)6 (ANSWER: A) |48 130 =+91250, D30-6% 31-95. FIND NO OF LIVES AT THE END OF AGE 31 YEARS. ( ANSWER: 76,384) 4. WHAT ISTHE FORMULA FOR SOLVENCY MARGIN RATIO |, ASMRSM (ANSWER) 8. RSM/ASIA cRBC/RSM 1D. ASRA/RBC 3, IN RBC REGIME RAC TS 400CR RSM IS 350.CR AND ASM IS 300CR HOW MUCHMIORE Is REQUIRED BY THE COMPANY