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MODEL TEST 4 12. Which is not a pension related contingency?

Time : 1 hour Marks : 1 mark each
1. Annuity belongs to –
(A) one where annuity amount is
fixed (guaranteed)
(B) one where the annuity amount is
variable (linked to investment performance)
(C) Both A and B are correct
(D) None of the above.
2. Which one of the following statements is correct?
(A) Annuity would stop strictly with the death
of the annuitant
(B) Annuity could be paid to the surviving
spouse in case of joint life annuity.
(C) Both A and B are correct
(D) None of the above.
3. In a joint life annuity, what would happen to
annuity payment if the spouse is to predecease
the annuitant?
(A) Annuity would continue
(B) Annuity would cease
(C) A & B correct (D) NOTA
4. What are the types of Annuities?
(A) Immediate Annuity (B) Deferred Annuity
(C) Both are correct (D) NOTA
5. Under Immediate annuity, the premium has to be paid
(A) in regular instalments (B) in lumpsum
(C) Both correct (D) Both wrong
6. Under Deferred annuity, the premium has to be paid –
(A) in regular instalments (B) in lumpsum
(C) Both correct (D) Both wrong
7. Under Deferred annuity, the time period between its
purchase and start of annuity payments is called–
(A) Waiting period
(B) Postponement period
(C) Waiver period (D) Deferment period
8. What are the 2 distinct phases of a Deferred Annuity?
(A) Waiting & Starting phases
(B) Loading & Unloading phases
(C) Accumulation & Payout phases
(D) Commutation & Continuation phases
9. Which type of Annuity will have 2 distinct phases?
(A) Immediate Annuity (B) Deferred Annuity
(C) Spouse Annuity (D) Joint life annuity
10. Which one of the following statement is correct?
(A) Every Annuity is pension
(B) Every Pension is an Annuity
(C) Both correct (D) Both wrong
11. Which is a dilemma of an old age person?
(A) How much old age pension is to be provided
(B) Where to invest the fund
(C) Both correct (D) Both wrong
(A) Health (B) Longevity
(C) Inflation (D) Investment risk
13. Which is the reason for increase in health
insurance in India?
(A) Health consciousness
(B) Increased longevity
(C) Increase in income (D) All
14. What is a Standalone health insurance company?
(A) An health insurance company which has
only one office throughout the country.
(B) A Life insurance company selling general
insurance products like health insurance also.
(C) A General Insurance company which sells
only health products. (D) All the above.
15. Which is not a recent phenomenon in
health insurance industry segment?
(A) Hospital chains are allowed by IRDA to
enter health insurance business.
(B) Tremendous growth of health ins. business
is tapped by Standalone companies.
(C) Standalone companies are specifically
barred from covering rural masses.
(D) None of the above.
16. Which item of expense is not covered under a
typical health insurance cover?
(A) Theatre charges
(B) Blood donation charges
(C) Bed charges (D) Test reports
17. Which is correct?
(A) Health insurance companies do not normally
provide Outpatient treatment expenses.
(B) Some Health insurance companies do provide
Outpatient treatment expenses.
(C) Both correct (D) None of the above correct
18. As part of Outpatient cover, which are the items that
could not be covered?
(A) Dental treatment (B) Optical services
(C) Health checkups (D) Surgery
19. Day care centre in health insurance parlance
would mean –
(A) Patients are admitted during day time only
(B) There is no provision for round the
clock treatment
(C) Centre where procedures requiring less
than 24 hrs hospitalization are done.
(D) None of the above.
20. Which among the following is not a Day
Care procedure?
(A) Byepass surgery (B) Cataract
(C) Lithotripsy (D) Piles
21. TPA stands for –
(A) Third Party Assignee