IA English Health QP

Insurance Agents (Health) Question Bank - English
S. Correct
Question Body Alternative-1 Alternative-2 Alternative-3 Alternative-4
No. Alternative
Which of the Following Statements, is / are True?
I. It is Very Well Understood, that, Insurance is a Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
1 3
‘Promise’. True. True. Statement-II, are True. Statement-II, are False.
II. The Policy is a ‘Witness’ to that Promise.

I. How Well, an Insurer performs, is evaluated by, How
Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
2 Well, it keeps its Claims' Promises. 1
True. True. Statement-II, are True. Statement-II, are False.
II. The Only Key Rating-Factor in Insurance, is, the
Claims-Paying-Ability of the Insurance Company.
The Regulator (Insurance Regulatory and Development

Authority of India (I.R.D.A.I.)) is a Key Stake-Holder in
the Claim-Process, because, its Objective is to:
3 I and II. I and III. II and III. I, II, and III. 2
I. Maintain the Order in the Insurance-Environment.
II. Protect the Insurers' Interests.
III. Ensure the Long-Term Health of the Insurers.

I. The Main Objective of Insurance Agents or Brokers,
4 is, to Sell the Insurance-Policies. 3
II. Insurance Agents or Brokers are also expected to
service the Customers, in the Event of a Claim.
1
S. Correct
No. Alternative

I. A Claim is serviced, Only Through the Services of a
Third-Party Administrator (T.P.A.), Authorized by the
Insurance Company. Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
5 2
II. A Claim may be serviced, either by the Insurance True. True. Statement-II, are True. Statement-II, are False.
Company, it-self, or Through the Services of a Third-
Party Administrator (T.P.A.), Authorized by the
Insurance Company.
In Case of a --, the Customer does not pay the

Expenses at the Time of Admission or Treatment. The
Net-Work Hospital provides the Services, based on a
"Treat First, Pay Later"
6 Pre-Approval from the Insurer or Third-Party Reimbursement Claim Cash-Less Facility Pre-Approved Claim 2
Claim
Administrator (T.P.A.), and later submits the
Documents, to the Insurer or Third-Party Administrator
(T.P.A.), for Settlement of the Claim.
In Case of a --, the Customer pays the Hospital, from

His or Her Own Resources, and then files His or Her "Treat First, Pay Later"
7 Reimbursement Claim Cash-Less Facility Pay-As-You-Go Claim 1
Claim, with the Insurer or Third-Party Administrator Claim
(T.P.A.), for Payment of the Admissible Claim.
Which One of the Following, is the First Step in the Verification of

8 Registration Coding of the Claim Intimation 3
Claim-Process? Documents
2
S. Correct
No. Alternative
Third-Party Administrator (T.P.A.) provides Following

Services:
I. Cash-Less Facility.
9 II. Data-Compilation and Data-Analysis. I, II, and IV. II, III, and IV. I, III, and IV. I, II, III, and IV. 4
III. A 24-Hours' Call-Centre, and Assistance for the
Customers.
IV. Net-Work of Hospitals, and Other Medical Facilities.
Which of the Following, are the Stake-Holders in the Third-Party Insurance Agents or
10 Regulator All of the Above. 4
Insurance Claim-Process? Administrator Brokers
Which of the Following Details, are included in the

Discharge-Summary?
I. Name, Age, Gender, and Description of the Patient.
II. Date and Time of Admission and Discharge.
11 I, II, and IV. II, III, and IV. I, III, and IV. I, II, III, and IV. 4
III. Description of the Patient’s Condition at the Time
of Admission: Temperature, Pulse, Blood-Pressure,
etc., and the Reason for Admission.
IV. Investigations-Done.
Which One of the Following, is the First Instance of Verification of Claim-

12 Claim-Registration Coding of the Claim Claim-Intimation 3
Contact between the Customer and the Claims-Team? Documents
In a Hospital-Bill, the Charges for On-Duty Medical-

13 Room-Rent Procedure Charges Consultant Charges Miscellaneous Charges 1
Officer will be included under Which Head?
3
S. Correct
No. Alternative

I. In Case of a Planned Hospitalisation, the Customer
could inform the Insurance Company, that, He or She is
14 planning to avail a Hospitalization. 3
II. In Case of Emergency-Admission to a Hospital, the
Intimation would be made, After the Hospitalization
has Taken Place.
The Call-Centre of the Third-Party Administrator

(T.P.A.) will provide the Information, relating to:
I. Coverage and Benefits, Available under the Policy.
II. Processes and Procedures, relating to Health-
15 I, II, and IV. II, III, and IV. I, III, and IV. I, II, III, and IV. 4
Insurance-Claims.
III. Guidance, relating to the Services and Cash-Less
Hospitalization.
IV. Information on Net-Work Hospitals.
In Case of an Emergency Admission to a Hospital,

16 Intimation to the Insurance Company is required within 4 8 12 24 4
--- Hours of Admission.
Hospital-Admission-Intimation can be made to an

17 Insurance Company, through, Which of the Following Fax Calling the Call-Centre E-Mail Any of the Above. 4
Channels?
4
S. Correct
No. Alternative
Answer, with Reference to Internal Document Formats,

used by Claims-Team, for Processing a Claim. Which of Document-Verification- Quality-Checks or
18 Scrutiny-Sheet All of the Above. 1
the Following, is, usually, a Single Sheet, where, the Sheet Quality-Control Format
Entire Processing-Notes are captured?

I. Once a Claim is Registered in the System, a Reserve
for the Same is Created in the Accounts of the Insurer.
II. Once a Reserve-Amount is Created, this Amount is Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
19 1
Freezed as the Upper-Limit, above which, the Claim True. True. Statement-II, are True. Statement-II, are False.
cannot be paid. How-Ever, this Amount may be Revised
Down-Wards, if the Actual Pay-Out Amount is Lower
Than the Reserve-Amount.
For a Health Insurance Claim to be Processed, Which of

the Following, are the Most Important Documents?
I. Documentary Evidence of Illness.
20 Only, I and II. Only, I and IV. I, II, and IV. I, II, III, and IV. 4
II. Treatment-Provided.
III. In-Patient Duration.
IV. Investigation-Reports.
21 Health Insurance is based on Concept of --. Mortality Morbidity Risk-Selection Probability 2
5
S. Correct
No. Alternative
It is defined as the
Underwriting-Risk Underwriting-Risk
Likelihood and Risk of a
It is a Process of Risk- decreases, due to increases, due to Certain
Which One of the Following Statements, is Correct, Person, Becoming Ill or
22 Selection and Risk- Various Adverse Factors, Favourable Factors, like, 1
with regard to Underwriting? Sick, there-by, requiring
Pricing. such as, Being Over- Lower Age, Healthy Life-
the Treatment or
Weight or Under-Weight. Style, etc.
Hospitalization.
Underwriting is a Process of:

23 I. Risk-Selection. Only I is True. Both: I and II, are True. Both: I and II, are False. Only II is True. 2
II. Risk-Pricing.
Identify the True Statement:

I. Morbidity increases due to Various Adverse Factors,
such as, Being Over-Weight or Under-Weight, Personal
24 History of Certain Past and Present Diseases or 3
Ailments.
II. Morbidity decreases due to Certain Favourable
Factors, like, Lower Age, a Healthy Life-Style, etc.
--- is the Process of Assessing the Risk, Appropriately;

25 and Deciding the Terms, on which, the Insurance-Cover Risk-Aversion Risk-Selection Morbidity Underwriting 4
is to be granted.
--- refers to the Likelihood and Risk of a Person

26 Becoming Ill or Sick, thereby, Requiring the Treatment Mortality Risk-Selection Morbidity Probability 3
or Hospitalization.
6
S. Correct
No. Alternative
In Health Insurance, Morbidity-Premiums are Higher,
for:
27 I. Infants. Only I. Both: I and II. Both: I and III. I, II, and III. 3
II. Young Adults.
III. Adults, Beyond the Age of 45 Years.
The Probability of an Individual, Suffering from a
Chronic Ailment, is Higher in:
28 I. Infants. Only III. I and II. I and III. I, II, and III. 1
II. Young Adults.
III. Adults, Beyond the Age of 45 Years.
29 Medical Underwriting can lead to --. Moral Hazard Morale Hazard Cream-Skimming Adverse Selection 3
Which of the Following Factors, affect the Morbidity?

I. Age.
30 Only I. I and II. I and III. I, II, and III. 2
II. Gender.
III. Income.

I. The Morbidity-Premiums for Infants and Children are
Higher Than the Young Adults, due to Increased Risk of
Infections and Accidents. Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
31 3
II. The Morbidity-Premiums for the Adults, Beyond the True. True. Statement-II, are True. Statement-II, are False.
Age of 45 Years, are Higher, as, the Probability of an
Individual, suffering from a Chronic Ailment, like:
Diabetes, is Much Higher.
Identify the Habit(s), that can increase the Morbidity-

Risk.
32 I. Consumption of Tobacco. Only I. I and II. I and III. I, II, and III. 2
II. Consumption of Alcohol.
III. Practicing Yoga.
7
S. Correct
No. Alternative
Identify the Occupation(s), that have Higher Risk to the
Accidents.
33 I. Blaster. Only I. I and II. I and III. I, II, and III. 3
II. X-Ray Machine-Operator.
III. Driver.
Identify the Occupation(s), that have Higher Health-
Risks.
34 I. X-Ray Machine-Operator. Only I. I and II. I and III. I, II, and III. 2
II. Miners.
III. Yoga-Instructor.
The Process of
Evaluating Each Proposal The Tendency of People,
for Health-Insurance in Who suspect or know The Process of Assessing The Likelihood and Risk
Terms of the Degree of that, their Chance of the Risk, Appropriately; of a Person, Becoming Ill
Which One of the Following Statements, is Correct,
35 Risk, it represents; and Experiencing a Loss is and Deciding the Terms, or Sick; there-by, 1
with Regard to 'Selection of Risks'?
then Deciding: Whether High, to seek-out the on which, the Insurance- requiring the Treatment
or Not to Grant the Insurance, Eagerly; and Cover is to be granted. or Hospitalization.
Insurance, and on What to gain in the Process.
Terms.
8
S. Correct
No. Alternative
The Process of
with Regard to 'Anti-Selection'?
Terms.
The Process of
with Regard to 'Morbidity'?
Terms.
--- means that, the Applicants, Who are exposed to

38 Similar Degrees of Risk, must be placed in the Same Risk-Classification Equity Risk-Selection Adverse Selection 2
Premium-Class.
9
S. Correct
No. Alternative
--- is the Process, where, Individuals are categorized

39 and assigned to Different Risk-Classes, depending on Risk-Classification Equity Risk-Selection Adverse Selection 1
the Degree of Risks, they pose.
The Process of
Evaluating Each Proposal The Tendency of People, The Process, where, the
for Health-Insurance in Who suspect or know The Process of Assessing Individuals are
Terms of the Degree of that, their Chance of the Risk, Appropriately; Categorized and
40 Risk, it represents; and Experiencing a Loss is and Deciding the Terms, Assigned to Different 4
with Regard to 'Risk-Classification'?
then Deciding: Whether High, to seek-out the on which, the Insurance- Risk-Classes, Depending
or Not to Grant the Insurance, Eagerly; and Cover is to be granted. on the Degree of Risks,
Insurance, and on What to gain in the Process. they Pose.
Terms.
Which of the Following Health Insurance Products, pay

for Actual Medical Expenses, incurred due to
41 Hospitalization? Only I. Only II. Both: I and II. Neither I, Nor II. 1
I. Indemnity-Cover.
II. Fixed Benefits-Cover.
A Critical Illness Cover provides Cover for Which of the
Following Disease(s)?
42 I. Stroke Only I. I and II. I and III. I, II, and III. 3
II. Asthma
III. Cancer
10
S. Correct
No. Alternative
I. Indemnity-Covers pay for Actual Medical Expenses-
43 Incurred, Due to Hospitalization. 3
II. Fixed Benefits Cover for a Fixed Sum Per Day for the
Period of Hospitalization.

I. If Insurance-Cover is on Benefit-Basis, then it will
cover All of the Expenses-Incurred or Amount-Spent,
During the Hospitalisation. Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
44 4
II. If Insurance-Cover is on Indemnity-Basis, then the True. True. Statement-II, are True. Statement-II, are False.
Amount will be paid, on the Occurrence of a Certain
Event, as stated in the Insurance-Policy, and is Not
Related to the Actual Expenditure-Incurred.
Which of the Following is / are, Example / Examples of

Day-Care Procedure?
45 I. Eye-Surgeries. Only I. I and II. II and III. I, II, and III. 4
II. Chemo-Therapy.
III. Dialysis.
Which of the Following is / are, Example / Examples of
Pre-Hospitalisation Expenses?
46 I. Medicines. Only I. I and II. II and III. I, II, and III. 4
II. Doctor's Fees.
III. Medical Tests.
11
S. Correct
No. Alternative
Premium under
It is Possible to Cover Each Person, Insured
An Individual, insured Individual Cover, will be
Each of the Dependent Under the Policy, can
under Individual Cover, charged for Each
Insured-Persons, Under a claim, up to the
All of the Following Statements, Related to Individual cannot seek the Cover Individual-Insured,
47 Single Policy, With a Maximum Amount of His 1
Cover, are True, Except --. for Dependent Parents- According to His or Her
Separate Sum-Insured, or Her Sum-Insured,
in-Law, Dependent Age and Sum-Insured-
Chosen for Each Insured- During the Currency of
Siblings, etc. Chosen and Any Other
Person. the Policy.
Rating-Factor.
Top-Up Plans, that allow the Deductible to be Crossed,

Catastrophe-Based High
48 Post, a Series of Hospitalizations, During the Policy- Super Top-Up Plan Threshold Plan Co-Pay Plan 2
Deductible Plan
Period, are known as --.
Which of the Following is / are, the Example /

Examples of Fixed Benefit Insurance Plans?
49 I. Hospital Daily Cash Insurance Plans. Only I. I and II. II and III. I, II, and III. 2
II. Critical Illness Insurance Plans.
III. Senior Citizen's Plan.
In Hospital Daily Cash Policy, an Upper-Limit is

provided on --.
50 I. The Daily Cash Pay-Out per Illness Only I. Both: I and II. Both: II and III. I, II, and III. 2
II. The Duration of the Policy
III. Doctor's Fees
12
S. Correct
No. Alternative
Hospital Daily Cash Policy can be purchased as:

I. A Stand-Alone Policy.
51 II. Add-On Cover to a Regular Indemnity Policy. Only I. I and II. II and III. I, II, and III. 4
III. Supplementary Cover to a Regular Hospital
Expenses Policy.

I. Critical Illness Policies are Usually Available for the
52 Persons in the Age-Group of 21 Years to 65 Years. 1
II. The Sum-Insured, offered under the Critical Illness
Policies is Quite Low.

I. Health-Plus-Life Combi-Products are Jointly-Designed
by the Two Insurers, and marketed through the Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
53 1
Distribution-Channels of Both Insurers. True. True. Statement-II, are True. Statement-II, are False.
II. For Health-Plus-Life Combi-Products, the Claims are
handled by the Insurers, Jointly.
Which of the Following, is, an Example of Package-

Policy?
54 I. Health Plus Life Combi Product. Only I. I and II. II and III. I, II, and III. 3
II. Shop-Keeper's Policy.
III. House-Holder's Policy.
13
S. Correct
No. Alternative

I. Jan Arogya Bima Policy is designed to provide Cheap
Medical Insurance to Poorer Sections of the Society.
55 II. The Coverage of Jan Arogya Bima Policy is along the 1
Lines of the Individual Medi-Claim Policy, and the
Cumulative Bonus and Medical Check-Up are also
included.

I. Jan Arogya Bima Policy is Available to the Individuals
Only, and cannot be extended to Family-Members.
56 II. Children between the Age of Three Months and Five 2
Years, can be covered under Jan Arogya Bima Policy,
provided, One or Both Parents are covered,
Concurrently.
Which One of the Following is an Example of Paralysis of All Four

57 Loss of Fingers. Loss of Phalanges. Loss of Toes. 1
Permanent Total Disability (P.T.D.)? Limbs.

I. The Insurer facilitates a Cash-Less Access to the
Health-Service, and Directly makes the Payment to the
Net-Work Provider, for the Admissible Amount. Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
58 1
II. Under Cash-Less Facility, the Insured has to make True. True. Statement-II, are True. Statement-II, are False.
the Payment for Amounts, Beyond the Policy-Limits,
and for the Expenses, which will be Later Paid by the
Insurer.
59 Individual Health Insurance Covers are offered to --. Retail Customers Corporates Government Schemes All of the Above. 1
14
S. Correct
No. Alternative
60 Group Health Insurance Covers are offered to --. Retail Customers Corporates Government Schemes All of the Above. 2
Which of the Following, begin with the Proposal-Form

of Insurance?
I. Principle of Utmost Good Faith.
61 Only II. I and II. I and III. I, II, III, and IV. 4
II. Principle of Indemnity.
III. Duty of Disclosure of Material Information.
IV. Principle of Subrogation.
The Proposer is asked to declare the Full Details of All

Earlier Losses, suffered by Him or Her, whether or not,
they were insured. Why is this Information required?
Earlier Losses have No
I. This will give the Insurer, the Information about the
Role to Play in the
62 Subject-Matter of Insurance, and How, the Insured has Only I. Only II. Both: I and II, are True. 3
Underwriting of the
managed the Risk, in the Past.
Current Risk.
II. Underwriters can understand the Risk, Better, from
Such Answers, and decide on Conducting the Risk-
Inspections or Collecting the Further Details.
Where a Proposal-Form is Not used, the Insurer shall

record the Information, obtained Orally or In-Writing,
63 and confirm it, Within a Period of --, there-of, with the 3 Days 7 Days 10 Days 15 Days 4
Proposer, and incorporate the Information in its Cover-
Note or Policy.
15
S. Correct
No. Alternative
Which of the Following Statements, is / are Correct,

with Regard to a 'Prospectus'?
I. A Prospectus is, Usually, in the Form of a Brochure or
a Leaf-Let, and serves the Purpose of Introducing a Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
64 1
Product, to Such Prospective Buyers. True. True. Statement-II, are True. Statement-II, are False.
II. Issue of Prospectus is governed by Insurance
Regulatory and Development Authority (I.R.D.A.) Act,
1999.
Which of the Following, should be included in the

Prospectus?
I. Scope of Benefits.
65 Only I. Only I and II. Only II and III. I, II, and III. 4
II. Extent of Insurance-Cover.
III. Warranties, Exceptions, and Conditions; of the
Insurance-Cover.
Which of the Following Information, mentioned in the

Prospectus, is Correct, with Regard to Riders?
I. The Allowable Riders on the Product, should also be
66 clearly stated, with Regard to their Scope of Benefits. 1
II. The Premium, Related to All the Riders, Put
Together, should Not exceed 50% of the Premium of
the Main Product.
Premium is the --, Paid, by the Insured, to the Insurer,

67 for insuring the Subject-Matter of Insurance, under a Contribution Consideration Fees Subscription 2
Contract of Insurance.
16
S. Correct
No. Alternative
Which of the Following Statements, is / are True, with

Regard to Premium?
I. According to Section 64 VB of Insurance Act, 1938,
68 Premium is to be Paid In-Advance, Before the Start of 1
the Insurance-Cover.
II. This Section is a Special Feature of Non-Life
Insurance Industry in India.

Regard to Premium?
I. Section 64 VB of Insurance Act, ensures that, Only
When the Premium is Received by the Insurance
Company, a Valid Insurance-Contract can be Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
69 3
Completed. True. True. Statement-II, are True. Statement-II, are False.
II. Section 64 VB of Insurance Act, ensures that, Only
When the Premium is Received by the Insurance
Company, the Risk can be Assumed by the Insurance
Company.
Where an Insurance Agent collects a Premium on a

Policy of Insurance, on Behalf of an Insurer, He or She
shall deposit to the Insurer, the Premium so collected,
70 24 Hours 3 Days 5 Days 7 Days 1
in Full, Without Deduction of His or Her Commission,
Within --- of the Collection, excluding Bank-Holidays
and Postal Holidays.
The Premium, to be paid by Any Person, proposing to

Any Recognised Banking
71 take an Insurance Policy, may be made, in Which of Cash Postal Money Order Any of the Above. 4
Negotiable Instrument
the Following Methods?
17
S. Correct
No. Alternative
In Case: the Proposer or Policy-Holder opts for

Premium-Payment, through Net-Banking or Credit-Card Proposer or Policy- Proposer or Policy-
Proposer or Policy-
72 or Debit-Card, the Payment must be made, through Holder or Any Blood- Holder or Any Family- Any of the Above. 1
Holder
Net-Banking Account or Credit-Card or Debit-Card Relative Member
issued, in the Name of --.
XYZ Private Limited has applied for an Insurance-

Cover. The Premises are being inspected for
determining the Actual Rate Applicable, and the Exact
Temporary Policy,
Premium is Not Finalized. In such a Scenario, where
73 Certificate of Insurance Cover-Note Provisional Policy Subject to Conditions 2
the Preparation of the Policy is Pending, and for
and Warranties
Providing the Cover on a Provisional Basis, Which of
the Following can be issued, by the Insurance
Company?
Cover-Notes are predominantly used, in Case of Which

of the Following?
I. Marine Insurance.
74 I and II. III and IV. I and IV. II and III. 3
II. Health Insurance.
III. Life Assurance.
IV. Motor Insurance.
In Case of Policies,
In Case of the Policies,
In Which of the Following Scenarios, an Insurance- In Case of Complex where, the Premises are
where, the Exact
75 Cover can be provided, on a Provisional Basis, through Policies, which involve a being inspected for Any of the Above. 4
Premium is Not
a Cover-Note? Long Negotiation. Determining the Actual
Finalized.
Rate Applicable.
18
S. Correct
No. Alternative

Regard to a Cover-Note?
I. A Cover-Note is Stamped. Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
76 2
II. The Wording of the Cover-Note makes it Clear that, True. True. Statement-II, are True. Statement-II, are False.
it is Subject to the Usual Terms and Conditions of the
Insurer’s Policy, for that Class of Insurance.

Regard to a Cover-Note?
I. If the Risk is Governed by Any Warranties, then the
Cover-Note would state that, the Insurance is Subject Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
77 1
to Such Warranties. True. True. Statement-II, are True. Statement-II, are False.
II. The Cover-Note cannot be made Subject to Special
Clauses, like, Agreed Bank Clause, Declaration Clause,
etc.
In Case of Motor Policies, a --- provides Evidence of

78 Cover-Note Certificate of Insurance Warranty Document Endorsement Document 2
Insurance, in the Cases, where Proof may be required.
In --, in Addition to the Policy, a Certificate of

79 Fire Insurance Motor Insurance Health Insurance Property Insurance 2
Insurance is issued, as required by the Governing Act.
No Certificate is
In Case of Motor Insurance, the Certificate of Insurance
required, as, the Policy-
provides the Evidence of Insurance, to:
80 Only I. Only II. Both: I and II. Document is Sufficient 3
I. Police.
Proof of Evidence of
II. Registration Authorities.
Insurance.
The Earliest Kind of Risks, to be handled through the

81 Train-Accidents Road-Accidents Mis-Adventures at Sea Earth-Quakes 3
Concept of Insurance, was the Losses, due to --.
19
S. Correct
No. Alternative
In the Earlier Days, the Business-Guilds or Societies, in

Europe, operated on a --, funding the Losses by
82 Profit-Sharing Equity-Sharing Subscription-Sharing Cargo-Value-Sharing 3
Members, Due to Shipping Losses, Fire, Death of
Members, or Loss of Live-Stock.
In the Earlier Days, the Business-Guilds or Societies in

Europe, operated on a Sharing-Basis, funding the
Losses by Members, due to:
83 I. Shipping-Losses. Only III. I, II, or III. II or IV. I, II, III, and IV. 4
II. Fire.
III. Death of Members.
IV. Loss of Live-Stock.
In the Earlier Days, Traders gathered at the Lloyd’s

Coffee House in London, to agree to share the Losses
to their Goods, being carried by Ships; due to Perils of
84 the Sea, which included: Only III. I or II. I or III. I, II, and III. 4
I. Pirates, who robbed on the High Seas.
II. Bad Sea-Weather, spoiling the Goods.
III. Sinking of the Ship, due to Any Reason.
Life Assurance Companies Act, 1912, made,

Certification by an Actuary, Compulsory, for Which of
the Following?
85 I. Premium-Rate Tables. Only I. Only III. I and II. II and III. 3
II. Periodical Valuation of Companies.
III. Solvency-Margins.
IV. Launch of New Products.
20
S. Correct
No. Alternative
At the Time of From the Year: 1956, to

Nationalisation of Life the Year: 1999, Life
Life Insurance Assurance, there were Insurance Corporation
Life Assurance Business
All of the Following Statements, Related to Corporation (L.I.C.) of 170 Provident Fund (L.I.C.) of India
86 was nationalised on 1st 3
Nationalisation of Insurance, are Correct, Except --. India was formed in the Societies and 75 apparently held the Sole
September, 1956.
Year: 1956. Companies, Doing the Right to do Life
Life Assurance Business Assurance Business, in
in India, at that Time. India.
At the Time of
Nationalisation of
General Insurance, there
were 75 Provident Fund
With the Passing of During Nationalisation of
Societies and 170
General Insurance General Insurance
General Insurers in Life Insurance
Business Nationalisation Business, General
All of the Following Statements, Related to India, Doing the Non-Life Corporation (L.I.C.) of
87 Act (G.I.B.N.A.), in the Insurance Corporation 3
Nationalisation of Insurance, are Correct, Except --. Insurance Business, were India was Formed in the
Year: 1972, the Non-Life (G.I.C.) of India and its
merged with the Year: 1956.
Insurance Business was Four Subsidiaries were
Formation of Four
Nationalised. set-up.
Subsidiaries of the
General Insurance
Corporation (G.I.C.) of
India.
21
S. Correct
No. Alternative
Health-Care is Nothing, But a Set of Services, Provided
by Various Agencies and Providers, including the
Government, to:
88 I. Promote the Health of People. Only IV. I and IV. II, III, and IV. I, II, III, and IV. 4
II Maintain the Health of People.
III. Monitor the Health of People.
IV. Restore the Health of People.
89 For Health-Care to be Effective, it must be --. Comprehensive Adequate Affordable All of the Above. 4
It is Possible and
It is Not Feasible to The Health-Care
Necessary, to make, the
make, the Health-Care Facilities should be
Health-Status of a Health-Care
Infrastructure, based upon the
90 All of the Following Statements, are Correct, Except --. Person, varies, From- Infrastructure, 3
Available, at Same Probability of the
Person-To-Person Available, at Same
Level, for All Types of Incidence of Disease, for
Level, for All Types of
Health-Problems. the Population.
Health-Problems.
It is Feasible to make, It is Not Necessary, to The Health-Care

the Health-Care make, the Health-Care Facilities should be
Health-Status of a
Infrastructure, Infrastructure, based upon the
91 All of the Following Statements, are Correct, Except --. Person, varies, From- 2
Available, at Same Available, at Same Probability of the
Person-To-Person
Level, for All Types of Level, for All Types of Incidence of Disease, for
Health-Problems. Health-Problems. the Population.
22
S. Correct
No. Alternative
The Need to set-up the Health-Care Facilities in Any

Area, whether a Village or a District or a State, will be
based upon the Various Health-Care Factors, called,
92 Indicators of that area, such as: Only III. II and III. I and III. I, II, and III. 4
I. Size of Population.
II. Death-Rate
III. Sickness-Rate.
The Need to set-up the Health-Care Facilities, in Any

93 Indicators of that Area, such as: Only III. II and III. I and III. I, II, and III. 4
I. Disability-Rate.
II. Social and Mental Health of the People.
III. General Nutritional Status of the People.
The Need to set-up the Health-Care Facilities in Any

Indicators of that area, such as:
94 I. Environmental Factors, such as, if it is a Mining Area Only III. II and III. I and III. I, II, and III. 4
or an Industrial Area.
II. How Much of the Health-Care System is likely to be
used.
III. Socio-Economic Factors, such as, Affordability.
23
S. Correct
No. Alternative
Primary Health Centres Primary Health Centres All Primary Health Majority of Primary
All of the Following Statements, with Regard to
(P.H.C.s) have been (P.H.C.s) are the Centres (P.H.C.s) Health Centres (P.H.C.s)
95 Primary Health Centres (P.H.C.s), are Correct, Except -- 1
established for Every Referral-Units for About provide Out-Patient have 4 to 6 In-Patient
.
5,000 Population. 6 Sub-Centres. Services. Beds.
A Primary Health Centre

Primary Health Centres Primary Health Centres Majority of Primary is manned by a Female
(P.H.C.s) have been (P.H.C.s) are the Health Centres (P.H.C.s) Health-Worker, also
established for Every Referral-Units for About have 4 to 6 In-Patient called, Auxiliary Nurse
.
30,000 Population. 6 Sub-Centres. Beds. Mid-Wife (A.N.M.), and a
Male Health-Worker.
Primary Health Centres

Primary Health Centres All Primary Health Majority of Primary
All of the Following Statements, with Regard to (P.H.C.s) are the
(P.H.C.s) have been Centres (P.H.C.s) Health Centres (P.H.C.s)
97 Primary Health Centres (P.H.C.s), are Correct, Except -- Referral-Units for 2
established for Every provide Out-Patient have 4 to 6 In-Patient
. Community Health
30,000 Population. Services. Beds.
Centres (C.H.C.s).
According to the Norms,

Each Primary Health
Primary Health Centres Primary Health Centres All Primary Health Centre (P.H.C.) should
(P.H.C.s) have been (P.H.C.s) are the Centres (P.H.C.s) have, at least, 30 Beds,
established for Every Referral-Units for About provide the Out-Patient 1 Operation-Theatre, X-
.
30,000 Population. 6 Sub-Centres. Services. Ray Machine, Labour-
Room and Laboratory-
Facilities.
24
S. Correct
No. Alternative

Each Community Health
Community Health
Community Health Community Health Centre (C.H.C.) should
All of the Following Statements, with Regard to Centres (C.H.C.s) are
Centres (C.H.C.s) have Centres (C.H.C.s) have, at least, 30 Beds,
99 Community Health Centres (C.H.C.s), are Correct, the Referral-Units for 4 1
been established for provide Specialist Care 1 Operation-Theatre, X-
Except: --. Primary Health Centres
Every 30,000 Population. Facilities. Ray Machine, Labour-
(P.H.C.s).
Facilities.

Each Community Health
Community Health Community Health Community Health Centre (C.H.C.) should
Centres (C.H.C.s) have Centres (C.H.C.s) are Centres (C.H.C.s) have, at least, 30 Beds,
100 Community Health Centres (C.H.C.s), are Correct, 2
been established for the Referral-Units for 6 provide Specialist Care 1 Operation-Theatre, X-
Except --.
Every 1 Lakh Population. Sub-Centres. Facilities. Ray Machine, Labour-
Facilities.
Decide on the Risk-

To Comply with the
For Documentation Acceptance, and the To Improve the
101 Why Do, Insurers need Material Information? Regulatory 2
Purposes. Terms and Conditions, Customer-Service.
Requirements.
Associated.
Which Element of a Valid Contract, relates to Capacity of Parties-to-

102 Offer and Acceptance Free Consent Consideration 4
Insurance-Premium? Contract
25
S. Correct
No. Alternative
Identify the Choice, which relates to In-Accurate
103 Statements, which are made with Any Fraudulent Representation Mis-Representation Coercion Fraud 2
Intention.
Mr. Ramesh buys a Mr. Ramesh enters into a Mr. Ramesh provides
Mr. Ramesh bribes an
Identify the Option, that can be treated as a Valid Property, from His Contract, when, He is False Information, to get
104 Official, to get into a 1
Contract. Friend, for a Throw- Not in a Sound State of Mr. Mahesh, to sign a
Contract.
Away Price. Mind. Contract.
Gambling has No Insurance has Only

Gambling is Legally
Gambling and Insurance, Insurable Interest Profitable Outcomes,
105 Compare: Gambling and Insurance. Enforceable, but, 2
Both, are the Same. involved, but Insurance while, Gambling could
Insurance is Not.
does have. result in Losses.
These Contracts are These Contracts are These Contracts are

These Contracts are
drafted by Both Parties, drafted by One Party, drafted by One Party,
106 Summarise "Contracts of Adhesion", for us. Binding on Both the 2
and have to be accepted and the Other can only and the Other has to
Parties.
by Both. Accept or Reject it. Accept it.
Mr. Ramesh fudges His Company Balance-Sheet, Before

107 Selling-Out the Company. Categorise His Action into Mistake Coercion Mis-Representation Fraud 4
One of the Following Options.
108 What is the Subject-Matter of Life Assurance? Premium Human Life Property Goodwill 2
Disclosing All Material Faking All Material Disclosing All Irrelevant

Select a Scenario, that showcases the Principle of Timely Payment of Information on the Information on the Information on the
109 2
Uberrima Fides. Premium. Insurance Proposal- Insurance Proposal- Insurance Proposal-
Form. Form. Form.
26
S. Correct
No. Alternative
In Relation to Life Assurance, Look at the Following

Two Statements, and Select the True One(s):
I: Age is Material Information, and may affect the Only Statement-I is Only Statement-II is Both: Statement-I and Both: Statement-I and
110 1
Terms of Underwriting. True. True. Statement-II, are True. Statement-II, are False.
II: If Age is Found to be Different, the Only Effect is on
the Premium-Rate.
Select a Reason, for Discharging a Contract, Under

111 Frustration Mistake Mis-Representation Concealment 3
Common Law.
Label the Document, that is used, to lay-down the

112 Terms of the Insurance Contract, when it is bought. Policy Agreement Authorisation Endorsement 1
Choose the Most Appropriate Option.
Label the Interest, that the Insured has, in the Subject-

113 Matter of Life Assurance. Choose the Most Appropriate Speculative Interest Wager Interest Insurable Interest Indemnity Interest 3
Option.
How Would You Describe the Agreement between the
114 Insurer and the Insured? Choose the Most Appropriate Interim Agreement Provisional Agreement Constant Agreement Contingent Agreement 4
Option.
Insurance Contracts are
Insurance Contracts are Insurance Contracts are
The Main Difference between Legal Contracts, in Insurance Contracts are Not Subject to Any
115 the Contracts of Legally Enforceable 1
General; and Insurance Contracts, is that --. Always Profitable. Regulation, What-So-
Uberrima Fidei. Contracts.
Ever.
At the Time of Taking a In Case of Life

Advise Mr. Rajan, on the Point or Time, when Insurable Only at the Time of Only at the Time of
116 Policy, and at the Time Assurance, No Insurable 1
Interest has to be Present, in Case of Life Assurance. Taking the Policy. Making a Claim.
of Making a Claim. Interest is Required.
Advise Miss Anita, on the Point or Time, when Insurable At the Time of Taking a In Case of Property
Only at the Time of Only at the Time of
117 Interest has to be Present, in Case of Property- Policy, and at the Time Insurance, No Insurable 3
Taking the Policy. Making a Claim.
Insurance. of Making a Claim. Interest is Required.
27
S. Correct
No. Alternative
Mr. Mahesh takes out an Insurance Policy on His House. Yes, Because, Insurable
Yes, if the Current Yes, if the Damage is No, Because, there is No
He sells His House, After a Couple of Months of taking Interest was Present at
118 Owner of the House, Within One Year of His Insurable Interest, 4
the Policy. In Case, there is Some Damage to the the Time of Taking-Out
allows. Selling the House. Present.
House, can Mr. Mahesh receive the Claim? the Policy.
Mr. Rajan fell-off a Horse, and landed in a Puddle. He

had to lie in the Puddle for a Long-Time, because, the
Fall had broken His Leg, this resulted in Him
Leg-Injury, sustained as
119 contracting a Severe Pneumonia. Pneumonia. Negligence of Doctors. Hospital-Treatment. 2
a Result of the Fall.
He was treated in a Near-By Hospital, where, He dies,
as a Result of Pneumonia. What is the Proximate Cause
of Death, in this Case?
No, Mr. Ramesh cannot

No, Mr. Ramesh cannot
No, Mr. Ramesh cannot buy Life Assurance on
Mr. Ramesh is Married, and wants to buy a Life Yes, Mr. Ramesh can buy buy Life Assurance on
buy Life Assurance on His Friend's Life,
120 Assurance Cover on His Friend's Life. Find Out, if He Life Assurance on His His Friend's Life, 3
His Friend's Life, because, there is No
will be Able to do so. Friend's Life. because of the Principle
because, He is Married. Insurable Interest,
of Caveat Emptor.
Present.
Securities and Exchange

Reserve Bank of India Board of India (S.E.B.I.) Insurance Regulatory and
Which One of the Following Bodies, regulates the
121 (R.B.I.) and Finance and Association of Development Authority Finance Ministry 3
Insurance Companies in India?
Ministry, Together. Mutual Funds in India of India (I.R.D.A.I.)
(A.M.F.I.), Together.
28
S. Correct
No. Alternative
Who among the Following, are Not Regulated by Current Account-Savings
Third-Party
122 Insurance Regulatory and Development Authority of Insurance Brokers Account (C.A.-S.A.) Corporate Agents 3
Administrators (T.P.A.s)
India (I.R.D.A.I.)? Agents
Regulations, made by
Insurance Regulatory and Insurance Regulatory and
Development Authority Insurance is an Development Authority
of India (I.R.D.A.I.), are, Absolutely Legal of India (I.R.D.A.I.)
The Prime Purpose of
to ensure that, Contract, in Compliance regulates the Companies
Insurance-Regulation, is,
123 Which One of the Following Statements, is Correct? Insurance-Companies with the Provisions of from their Registration 1
To Protect the Policy-
should exist, Not as Indian Contract Act and on-wards, and monitors
Holders' Interests.
Financially Sound Other Laws of the All their Major Activities,
Organisations, but, as Country. like, Investments,
Socially Responsible Accounting, etc.
Organisations.
To ensure that,
To ensure that, Rural
Insurance Companies To ensure that,
Areas and Weaker
What is the Prime Purpose of Insurance-Regulation? generate the Sufficient Insurance-Cover is To Protect the Policy-
124 Sections of Population 4
Choose the Most Appropriate Answer. Profits, so that, they can extended to All the Holders' Interests.
gets the Adequate
Survive in the Long- Citizens of India.
Insurance-Coverage.
Term.
29
S. Correct
No. Alternative
Life Insurance
Corporation (L.I.C.) of Insurance Regulatory and
Which One of the Following Bodies, can issue the
125 Finance Ministry Government of India India and General Development Authority 4
License to work as Individual Agents, in India?
Insurance Corporation of India (I.R.D.A.I.)
(G.I.C.) of India, Jointly.
Insurance Regulatory and

Which One of the Following Bodies, regulates the Reserve Bank of India Securities and Exchange Association of Mutual
126 Development Authority 2
Capital Market in India? (R.B.I.) Board of India (S.E.B.I.) Funds in India (A.M.F.I.)
of India (I.R.D.A.I.)

Which One of the Following Bodies regulates the Banks Reserve Bank of India Securities and Exchange Association of Mutual
127 Development Authority 1
in India? (R.B.I.) Board of India (S.E.B.I.) Funds in India (A.M.F.I.)
Life Insurance Council Insurance Regulatory and

Third-Party Administrators (T.P.A.s) are Regulated, by Insurance Brokers
128 and General Insurance Development Authority Finance Ministry 2
Which of the Following Bodies? Association of India
Council, Jointly. of India (I.R.D.A.I.)
Which One of the Following, is the Basic Insurance Insurance Regulatory and Deposit Insurance and
Public Liability Insurance
129 Legislation of the Country, that governs Insurance Insurance Act, 1938. Development Authority Credit Guarantee 2
Act, 1991.
Business in India? (I.R.D.A.) Act, 1999. Corporation Act, 1961.
Insurance Agents, who hold the Licence to act as

Agents for Both: Life Insurer, General Insurer, Health Third-Party Composite Insurance
130 Brokers Corporate Agents 4
Insurer, and Each of the Two Mono-Line Insurers, are Administrators (T.P.A.s) Agents
called --.
30
S. Correct
No. Alternative
--- was established in the Year: 2000, as an In- Insurance Regulatory and
Reserve Bank of India Securities and Exchange Association of Mutual
131 Dependent Authority, to Regulate and Develop the Development Authority 3
(R.B.I.) Board of India (S.E.B.I.) Funds in India (A.M.F.I.)
Insurance Industry. (I.R.D.A.)
Life Insurance
Which One of the Following Bodies, has prescribed the
Life Insurance Council Policy-Holders' Insurance Regulatory and Corporation (L.I.C.) of
Regulations for Protecting the Interests of Policy-
132 and General Insurance Association of India Development Authority India and General 3
Holders, stipulating the Obligations on Both: Insurers as
Council, Jointly. (P.A.I.). of India (I.R.D.A.I.) Insurance Corporation
well as Intermediaries?
(G.I.C.) of India, Jointly.
Which One of the Following Acts, has the Provisions for Insurance Regulatory and Deposit Insurance and
Public Liability Insurance
133 Monitoring and Control of Operations of Insurance Development Authority Credit Guarantee Insurance Act, 1938. 1
Act, 1991.
Companies? (I.R.D.A.) Act, 1999. Corporation Act, 1961.
If Insurance Firm accepts such Applicants, Who are at a

Greater Than Normal Risk or are Not Insurable, but
conceal or falsify the Information about their Actual
134 Insurance-Screening Adverse Selection Underwriting-Lapse Proposal Re-View 3
Condition or Situation, so that, they get Insurance,
then this will be known as --. Choose the Most
Appropriate Option.
135 Insurance Act came into Effect, on --. 1st June, 1938 1st July, 1938 1st June, 1939 1st July, 1939 3
The Insurance Regulatory and Development Authority

(I.R.D.A.) was established in the Year: --, under The
136 1999 2000 2002 2003 2
Insurance Regulatory and Development Authority
(I.R.D.A.) Act, 1999.
Insurance Act, 1938, prohibits the Use of Rebates, as

137 Section 38 Section 41 Section 45 Section 64-VB 2
an Inducement to take an Insurance Policy, under --.
31
S. Correct
No. Alternative
Insurance Act, 1938, specifies the Rules for Nomination
138 Section 39 Section 41 Section 45 Section 64-VB 1
of Insurance-Policies under --.
Minimum Academic Qualification of a Sepcified Person
139 Class 10 Class 12 Graduate Post-Graduate 2
is --.
An Applicant, seeking an Appointment as an Insurance

140 Agent of an Insurer, shall submit an Application in I-A, Designated Official A.I-A, Appellate Officer I-B, Designated Official I-B, Appellate Officer 1
Form: --, to the --- of the Insurer.

Integrated Grievance-Management-System (I.G.M.S.) Policy-Holders'
141 Development Authority Life Insurance Council Government of India 2
has been launched by --. Association of India
Price, Charged by Shop-

Shop-Keeper, Not Giving Shop-Keeper fails to The Goods, Bought by
Which One of the Following, can form the Basis for a Keeper, is as per
142 Any Discounts on the provide a Certain Consumer, suffers from 4
Valid Consumer-Complaint? Maximum Retail Price
Product. Product. One or More Defects.
(M.R.P.) on Package.
Price, charged by Shop- An Un-Fair Trade-

The Goods, Bought by Shop-Keeper fails to
Which One of the Following, cannot form the Basis for Keeper, is in Excess of Practice or Restrictive
143 Consumer, suffers from provide a Certain 3
a Valid Consumer-Complaint? What is Displayed on the Trade-Practice has been
One or More Defects. Product.
Package. adopted.
Integrated Grievance-
Which One of the Following, is a Tool for Monitoring
144 National Commission Ombudsman Management-System State Commission 3
the Grievance-Redressal in the Insurance-Industry?
(I.G.M.S.)
32
S. Correct
No. Alternative
Which One of the Following Consumer-Disputes-

145 District Forum State Commission National Commission All of the Above. 4
Redressal-Agencies, have the Powers of a Civil Court?
Which One of the Following Consumer-Disputes'

146 Redressal-Agencies, has Supervisory Jurisdiction over District Forum National Commission Ombudsman None of the Above. 2
State Commission?
Which One of the Following, by Mutual Agreement of

the Insured and the Insurer, can act as a Mediator and
147 Insurance Agent Ombudsman Insurer Insurance Broker 2
Counsellor, within the Terms of Reference, in Case of
Dispute? Choose the Most Appropriate Option.
If a Customer is aggrieved, by an Order, made by the

148 District Forum, then, Where can He or She, appeal State Commission National Commission Ombudsman No Appeal can be made. 1
against such Order?
If a Customer is aggrieved by an Order, made by a
149 State Commission, then, Where can, He or She appeal, District Forum National Commission Ombudsman No Appeal can be made. 2
against such Order?
Which One of the Following Acts, makes the Provision

for the Establishment of Consumer-Councils and Other Banking Regulation Act, Consumer Protection
150 Insurance Act, 1938. Development Authority 4
Authorities for the Settlement of Consumer’s Disputes, 1949. (Amendment) Act, 2002.
(I.R.D.A.) Act, 1999.
in India?
Which One of the Following, has the Supervisory

151 District Forum National Commission Ombudsman None of the Above. 2
Jurisdiction over State Commission?
What is the Maximum Amount, that can be awarded by

152 Up To Rupees 10 Lakhs Up To Rupees 20 Lakhs Up To Rupees 50 Lakhs Up To Rupees 100 Lakhs 2
Ombudsman, in Case of a Grievance?
33
S. Correct
No. Alternative
No One Else, Other Than

the Complainant, Him- There is No Fee, for No Advocate is
Which One of the Following Statements, is In-Correct, The Complaint can be
Self or Her-Self, can File Filing a Complaint with Necessary for the
153 with Regard to Process of Filing a Complaint with a filed Personally, or can 1
a Complaint, with the State Commission or Purpose of Filing a
Consumer-Court? even be sent by Post.
State Commission or National Commission. Complaint.
National Commission.
Any Person, who buys

Any Person, who avails A Person, who obtains
Who among the Following, is Not included in the Any Goods, for a Any Person, who hires or
Any Service; and is also the Goods, for Re-Sale
154 Definition of 'Consumer', as per Consumer Protection consideration; and avails of Any Services, 4
the Beneficiary of that or for Any Commercial
(Amendment) Act, 2002? includes Any User of for a Consideration.
Service. Purpose.
such Goods.
A Copy of Acceptance-
Recommendations have Letter, by the Insured,
Recommendations The Copies should be to be accepted, In- should be sent to the
Which One of the Following Protocols, is In-Correct,
should be made, within sent to Both: the Writing, by the Insurer, and His or Her
155 with Regard to the Recommendations, that the 1
6 Months of the Receipt Complainant and the Complainant, Within 15 Written Confirmation
Ombudsman needs to follow?
of such a Complaint. Insurance Company. Days of Receipt of such sought, Within 15 Days
Recommendation. of His or Her receiving
such Acceptance-Letter.
34
S. Correct
No. Alternative
No Fees is Payable for

If a Policy-Holder wishes to File a Complaint with 2.5% of the Claim-
filing Customer-
156 National Commission, then What is the Amount of Rupees 100/-. Amount or Rupees 500/-, 1% of the Claim-Amount. 4
Complaint with National
Fees, Payable by Him or Her? Which-Ever is Lower.
Commission.
Integrated Grievance-
Which One of the Following, is a Central Repository of
157 National Commission Ombudsman Management-System State Commission 3
Insurance Grievance Data?
(I.G.M.S.)
Which One of the Following Consumer-Disputes Insurance Regulatory and

158 Redressal-Agencies, entertains the Appeals from the State Commission National Commission Development Authority No Appeal can be made. 1
District Forum? of India (I.R.D.A.I.)
Which One of the Following Consumer-Disputes' Insurance Regulatory and

159 Redressal-Agencies, entertains the Appeals, against the District Forum National Commission Development Authority No Appeal can be made. 2
Orders of Any State Commission? of India (I.R.D.A.I.)
If a Policy-Holder wishes to seek Compensation, up to

Rupees 20 Lakhs, from Insurance Company, against a
160 District Forum State Commission National Commission Development Authority 1
Grievance, then, Where Can, He or She lodge the
Complaint? Choose the Most Appropriate Option.
Which One of the Following, is Not a Direct Indicator of

161 Reliability Empathy Assurance Sales Data 4
Service-Quality?
Which One of the Following, is Not a Contributor,

162 Historical Present Potential Speculated 4
towards Customer Life-Time Value?
35
S. Correct
No. Alternative
Indo-German Integrated Government Indian Genome Mapping Integrated Grievance-

163 Choose the Correct Expanded Form for I.G.M.S. 4
Management School Management System Scheme Management System
--- are a Set of Rules and Regulations that set the Rules
Complaints-Handling Grievance-Redressal Risk-Grievance Damage-Grievance
164 and Guide-Lines, to effectively address the Complaints 2
Procedures Procedures Procedures Procedures
and Grievances of Policy-Holders.

The --- has framed the Rules, known as, Redressal of Non-Banking Finance Securities and Exchange
165 Development Authority Central Government 4
Public Grievances Rules, 1998. Company (N.B.F.C.) Board of India (S.E.B.I.)
(I.R.D.A.)
The Assignment or Transfer, upon the Reasons, In-

Writing, to be communicated to the Policy-Holder, Grievance-Redressal- Consumer-Redressal Seller-Redressal Administrative Redressal
166 1
Subject to such Decision being challenged, by Way of Authority Authority Authority Authority
Petition, before the --.
The Insured can resolve a Dispute, by approaching the Complaints-Handling Grievance-Redressal Risk-Grievance Redressal of
167 4
Ombudsman, under --. Procedure Procedure Procedure Public Grievances Rules
Which of the Following, is the Main Objective of

Consumer Protection Act?
(i) To Protect the Interests of the Policy-Holders. Both: (i) and (ii), are Both: (i) and (iii), are
168 Only (i) is Correct. Only (iii) is Correct. 3
(ii) To Protect the Interests of the Investors. Correct. Correct.
(iii) To Provide a Simple, Speedy, and In-Expensive
Redressal to the Consumer-Grievances.
36
S. Correct
No. Alternative
“Redressal of Public Grievances Rules, 1998”, came
169 12th October, 1991 11th November, 1998 13th December, 1997 14th September, 1983 2
into Force on --.
Which of the Following, is an Objective of Redressal of

Public Grievances Rules?
(i) Aim at Resolving the Complaints, Relating to the Both: (i) and (ii), are Both: (i) and (iii), are
Settlement of Disputes. Correct. Correct.
(ii) Protection of Consumers' Interests.
(iii) Providing the Grievances to Consumers.
Which of the Following, is, a Function of Ombudsman?

(i) Redressal of Grievances to Consumer. Both: (i) and (ii), are Both: (i) and (iii), are
(ii) Protection of Consumer's Interests. Correct. Correct.
(iii) Redressal of Grievances from the Policy-Holders.
Which of the Following, has been recommended by

Commission, that, the Grievance-Redressal Authorities
(G.R.A.s) should be constituted, to deal with?
(i) Disputes between the Insured and the Insurer.
(ii) Disputes between the Insured and the Both: (i) and (ii), are Both: (i) and (iii), are Both: (ii) and (iii), are
172 Only (iv) is Correct. 4
Intermediaries. Correct. Correct. Correct.
(iii) Disputes between the Insurer and the
Intermediaries.
(iv) Any Dispute between the Insured, the Insurer, and
the Intermediaries.
Who shall deal with the Disputes, between the Insured Grievance Redressal
173 Consumer Group Consumer Authority Consumer Commission 2
and the Insurer? Authorities (G.R.A.s)
37
S. Correct
No. Alternative
Who shall deal with the Disputes between the Insurer Grievance-Redressal
174 Consumer Authority Consumer Group Consumer Commission 4
and the Intermediaries? Authorities (G.R.A.)
--- shall have No Jurisdiction in Cases, relating to Third- Grievance Redressal

175 Consumer Commission Consumer Authority Consumer Group 3
Party Motor-Vehicle Insurance and Marine Insurance. Authority (G.R.A.)
Redressal of Public Grievances Rules, 1998 created the

176 Insurance Agency Insurance-Surveyors Insurance Ombudsman Consumer Forum 3
System of --.
On Which Date, was, Consumer Protection Act,
177 11th April, 1974 24th December, 1968 24th December, 1986 22nd November, 1968 3
formed?
Which One of the Following, is Not an Example of Non- Signaling "Okay" with a Gesturing in an Empty
178 Wearing Jewellery. Raising Your Voice. 2
Verbal Communication? Hand-Gesture. Room.
179 Personal Distance is defined as --. 18 Inches to 4 Feet. 12 Feet and Up. Touching to 18 Inches. 4 Feet to 12 Feet. 1
Any Instance, in which, a

Behavior, Other Than Stimulus, Other Than the
the Words, that is Words, creates a
180 Non-Verbal Communication is made up of --. Body-Language Actions All Human Behavior 4
intended to convey a Meaning in either a
Message Sender's Mind or a
Receiver's Mind
Hanging Gardens of Lloyds Coffee House in

181 Identify the Place-of-Origin of Modern-Day Insurance. Vatican City in Rome Big Apple in New York 3
Babylon London
Which One of the Following, can be used, to describe Providing the Subsidies Betting of People's Generating the Profits Sharing of the Losses of
182 4
Insurance, in General? to the Poor. Losses. from Other's Losses. a Few, by Many.
38
S. Correct
No. Alternative
The Inhabitants of Rhodes adopted a Practice, where-

by, if Some Goods were lost due to Jettisoning, during
183 Distress, the Owners of Goods (even those who lost Capitalism Socialism Mutual Insurance Tyranny 3
Nothing) would bear the Losses in Some Proportion.
Which Phenomenon is illustrated, in this Scenario?
Gathering the People, Gathering the People, Gathering the People, Gathering the People,
Illustrate the Principle of Pooling, in Relation to Having Similar Assets, Having Different Types Having Similar Types of Having Different Types
184 1
Insurance. and Exposed to Similar of Assets, and Exposed Assets, but Exposed to of Assets, but Exposed to
Risks. to Different Risks. Different Risks. Similar Risks.
The Chinese Government

mandated that, Goods Chinese Traders placed
Chinese Traders placed
In the Olden Days, Chinese Traders used to keep their Chinese Boats were should be distributed their Goods in Multiple
their Goods in Multiple
185 Goods in Different Boats, while sailing through Small, and they carried among Multiple Shipping Boats, because it 3
Boats, because it was
Treacherous Waters. Analyse, Why? Heavy Goods. Companies, so that, provided Insurance
Cheap.
there is Equal against Total Loss.
Distribution of Business.
Identify a Non-Physical Asset, from the List of

186 Car House Goodwill Air-Conditioner 3
Following Options.
Mr. Manish asks His Insurance-Advisor, the Primary
Purpose of Insurance. Help Mr. Manish, Identify the Share the Losses of Share the Losses of Share the Losses of a
187 Speculation. 3
Primary Purpose of Insurance, from the Following Many, among Many. Many, among a Few. Few, among Many.
Options.
188 What led to the Formulation of Insurance? Hazard Indemnity Loss Risk 4
39
S. Correct
No. Alternative
Which One of the Following Methods of Risk- Risk-Reduction and Risk-

189 Risk-Avoidance Risk-Retention Risk-Transfer 2
Management, is also known as Self-Insurance? Control
When the Probability of When the Probability of When you can finance
After the Contingent Event-Occurrence is Event-Occurrence is the Losses of the
190 When would You choose, to go for Insurance? 2
Event has occurred. Low, But, Severity is Low, along with the Contingent-Event, on
High. Severity. Your Own.
The Oriental Life Bombay Mutual

Which One of the Following, is, the First Indian Triton Insurance National Insurance
191 Assurance Company Assurance Society 3
Insurance Company? Company Limited Company Limited
Limited Limited
Name the Public Sector Life Assurance Company, General Insurance Life Insurance
Oriental Insurance National Insurance
192 formed as a Result of Nationalisation of Life Assurance Corporation (G.I.C.) of Corporation (L.I.C.) of 2
Company of India Company Limited
in India. India India
Discuss the Risk-Management Technique, employed by

193 Risk-Avoidance Risk-Retention Risk-Transfer Risk-Mitigation 3
an Individual, when He or She purchases the Insurance.
Insurance: Guaranteed
Insurance: Protection Insurance: Protection Protection, Against an
Against an Event, that Against an Event, that Event, that Might
Both: Insurance and
Discuss the Difference between Insurance and Will Happen. Might Happen. Happen.
194 Assurance, Refer to the 2
Assurance. Assurance: Protection Assurance: Protection Assurance: Protection
Same Thing.
Against an Event, that Against an Event, that Against an Event, that
Might Happen. Will Happen. Might Happen, is Not
Guaranteed.
Mr. Poddar has used Insulated Wiring in His House, so

as to Reduce the Chances of Damage, Due to Fire. Risk-Reduction and Risk-
Identify the Risk-Management Technique, practiced Control
here.
40
S. Correct
No. Alternative
Ms. Shaheen refuses to go on a Business-Trip to Iraq,
because of Violence in the Destination Country. Risk-Reduction and Risk-
Identify the Risk-Management Technique, practiced Control
here.
Mr. Suresh has purchased a Life Assurance Policy, so

that, His Family-Members do not have to depend on Risk-Reduction and Risk-
Any-One, in Case of His Un-Timely Death. Identify the Control
Risk-Management Technique, practiced here.
Ms. Smita has set-up a Reserve Fund, to be used for the

Repairs, in Case, the House is damaged for Some Risk-Reduction and Risk-
198 Risk-Financing Risk-Retention Risk-Transfer 1
Reason. Identify the Risk-Management Technique, Control
practiced here.
Insurance indemnifies
Insurance protects the Insurance prevents the Insurance reduces the
199 Which One of the Following Statements, is Correct? the Insured, in the Event 4
Asset from Damage. Losses. Possibility of Loss.
of a Loss.
To Arrive At the
You are an Insurance-Surveyor. On Behalf of the To Find-Out: How Far To Get a Look at the
To Assess the Risk, for Valuation of the
200 Insurer, Why Will You survey and inspect a Property, the Property is, From Neighbouring Properties, 1
Rating Purposes. Property, by Looking at
Prior to Insurance? the City. Also.
the Surroundings.
41

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Insurance Agents (Health) Question Bank - English

Which of the Following Statements, is / are True?

The Regulator (Insurance Regulatory and Development

Which of the Following Statements, is / are True?

Which of the Following Statements, is / are True?

In Case of a --, the Customer does not pay the

In Case of a --, the Customer pays the Hospital, from

Which One of the Following, is the First Step in the Verification of

Third-Party Administrator (T.P.A.) provides Following

Which of the Following Details, are included in the

Which One of the Following, is the First Instance of Verification of Claim-

In a Hospital-Bill, the Charges for On-Duty Medical-

Which of the Following Statements, is / are True?

The Call-Centre of the Third-Party Administrator

In Case of an Emergency Admission to a Hospital,

Hospital-Admission-Intimation can be made to an

Answer, with Reference to Internal Document Formats,

Which of the Following Statements, is / are True?

For a Health Insurance Claim to be Processed, Which of

21 Health Insurance is based on Concept of --. Mortality Morbidity Risk-Selection Probability 2

Underwriting is a Process of:

Identify the True Statement:

--- is the Process of Assessing the Risk, Appropriately;

--- refers to the Likelihood and Risk of a Person

Which of the Following Factors, affect the Morbidity?

Identify the True Statement:

Identify the Habit(s), that can increase the Morbidity-

--- means that, the Applicants, Who are exposed to

--- is the Process, where, Individuals are categorized

Which of the Following Health Insurance Products, pay

Identify the True Statement:

Which of the Following is / are, Example / Examples of

Top-Up Plans, that allow the Deductible to be Crossed,

Which of the Following is / are, the Example /

In Hospital Daily Cash Policy, an Upper-Limit is

Hospital Daily Cash Policy can be purchased as:

Identify the True Statement:

Identify the True Statement:

Which of the Following, is, an Example of Package-

Identify the True Statement:

Identify the True Statement:

Which One of the Following is an Example of Paralysis of All Four

Identify the True Statement:

Which of the Following, begin with the Proposal-Form

The Proposer is asked to declare the Full Details of All

Where a Proposal-Form is Not used, the Insurer shall

Which of the Following Statements, is / are Correct,

Which of the Following, should be included in the

Which of the Following Information, mentioned in the

Premium is the --, Paid, by the Insured, to the Insurer,

Which of the Following Statements, is / are True, with

Which of the Following Statements, is / are True, with

Where an Insurance Agent collects a Premium on a

The Premium, to be paid by Any Person, proposing to

In Case: the Proposer or Policy-Holder opts for

XYZ Private Limited has applied for an Insurance-

Cover-Notes are predominantly used, in Case of Which

Which of the Following Statements, is / are True, with

Which of the Following Statements, is / are True, with

In Case of Motor Policies, a --- provides Evidence of

In --, in Addition to the Policy, a Certificate of

The Earliest Kind of Risks, to be handled through the

In the Earlier Days, the Business-Guilds or Societies, in

In the Earlier Days, the Business-Guilds or Societies in