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Sample Questions- IRDA IC 33, 34, 38


Sample Questions

Instructions:-

The answers are highlighted in bold.

1.Which of the following statements is true?

Statement A: Arbitration condition appears in all insurance policies.

Statement B Arbitration condition appears only in Marine Cargo policies.

a) Neither of the statements is true   

b) Statement A only

c) Statement B only              

d) Both statements are true

2. Out of 1000 pedal cycles, each valued at Rs. 20000/-, 5 are stolen on an average every year. The rate of premium for each motorcycle in % may be indicated.

a) 5%     

b) 10%    

c) 50%   

d) 0.5%

3. The duty of disclosure of material fact arises

a) Only at the time of renewal  

b) Only during the proposal stage   

c) Only during the policy period if there is change of risk

d) All the above

4. Which of the following statement is true?

a) Insurance facilitate free investment of capital in business

b) Insurance encourages commercial and industrial development

c) Insurance contributes to national productivity

d) All the three above

5. Third party Administrator’s ‘cash less’ services mean?

a) Admission to a specified hospital without admission fees payment

b) Admission to a specified hospital without deposits

c) Discharge from specified hospital without payment of covered expenses of treatment

d) All of the above

6. What is the amount of claim payable if the loss is Rs.8000 under a policy with a sum insured of Rs.1 lakh and excess limit is Rs.10,000/-.

a) Nil

b) Rs.10,000/-

c) Rs.8,000/-

d) Rs.2,000/-

7.  Which of the following statements is true?

Statement A: The POS is at fault, if the policy sold does not meet the proponent’s needs.

Statement B: The POS is responsible to ensure that the proposed policy meets the needs of the prospects.

  1. Only statement A is rue
  2. Only statement B is true
  3. Both statements are true
  4. Neither of the statements is true

8. Which statement is true?

Statement A: Subrogation applies only under contracts of indemnity   

Statement B: Contribution applies only under contracts of indemnity

  1. Only statement A is true
  2. Only statement B is true
  3. Both statements are true
  4. Neither of the statements is true

9. What it is called in risk management when insured gets his property insured.

  1. Risk Avoidance
  2. Risk identification
  3. Risk Retention
  4. Risk transfer

10. Under IRDA guidelines which of the following is eligible to become a corporate agent.

  1. A banking company
  2. A cooperative society
  3. A non-government organisation

       4.  All three a, b & c is eligible to become a corporate agent

11.  Which of the following statements is true?

1. Compensation to victims of ‘hit and run’ motor accident are payable out of ‘Solatium Fund’.

2. Compensation for victims of motor accident on ‘no-fault’ basis is awarded by the Motor Accident Claims Tribunal.

a) Only 1 is true

b) Only 2 is true

c) Both are true

d) Both are false

12. What is total loss in motor insurance?

a) When vehicle is stolen and declared untraced?

b) When vehicle is so badly damaged that cannot be repaired?

c) When the vehicle is so damaged that repair cost is going to be more than 75% of IDV.

d) All of the above

13. Following are the number of categories in which the vehicles are broadly classified

  1. 4 Categories
  2. 3 Categories
  3. 1 Categories
  4. 2 Categories

14. How much is the discount for vehicles specially designed for blind person?

  1. 25 % of the package premium
  2. 50 % of the liability premium
  3. 5 % of OD  premium
  4. None of these discounts

15. Tariff rates can be

  1. Increased
  2. Decreased
  3. Increased by 200 %
  4. Increased by 100 %
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PJ & ASSOCIATES @ COVERFOX/RENEWBUY/ SMC/SALESPOINT POLICYBAZAAR/MINTPRO/GIRNAR/easy policy etc -WEB INTEGRATORS 71 companies.400 products-ONE PLATFORM Call +91-9971486715 , prernaji89.wordpress.com twitter.com/devil743 , facebook.com/er.prerna.jain , youtube.com/channel/UC-vO0dQrLqE8G1pRRvThrFA/videos , Instagram.com/devil743_orangecub_prernajain/ , linkedin.com/in/prernajain26 , Motor/Life/ Travel/ Marine/ Health/Property (Office/Home)/Pet/ Liability/ Fire- Burglary/Cancer Insurance, ULIP,  Personal Accident /Critical Illness /Business/Corporate  Insurance .Keyman, Employer Employee. Married Woman Property Act.Partnership, HUF,Professional Indemnity, Workmen Compensation, Erection/Construction- All Risk,Contractor’s Plant & Machinery, Group Policy, Retirement- Pension/Annuity,Gratuity,Leave Encashment, Child–Education/ Marriage, NRI /HNI Plan,  Handicap Dependent/ Child with Special Needs, Pure Term/ Term with Return of Premium » Income Tax Return Filing. Accounts Writing/GST »Equity/Commodity, Securities, Stock Broking, DEMAT,Trading, Derivatives/Currency, Mutual Funds SIP/ Equity Linked Savings Scheme , IPO/Debentures, NFO /Portfolio Management Services .Fixed Deposit /Bonds INSPIRATION JOINT》 Emcee Anchor Speaker Event manager Orator Trainer Radio /video jockey Presenter Voiceover artist Host Ventriloquist Launch ur presence- blog content writing SEO/SMO ORANGE CUB if u cant adopt -foster if u cant foster - sponsor if u cant sponsor - volunteer if u cant volunteer- donate if u cant donate -educate/ network/cross post/ feed/ help EVERYONE CAN DO SOMETHING 2 SAVE A Life. Help voiceless/ it's service 2 GoD Drive slow, stop 4 animal. Someone is waiting at home for u in ur family & animal's too. #ventriloquist #presenter #trainer #orator #loan #speaker #insurance #doggo #blogger #germanshephard #newsreader #journalist #mutualfunds #lifeinsurance #healthinsurance #coverfox #brokers #policybazaar #renewbuy #fireinsurance #marineinsurance #professionalindemnity #cardekho #cars24 #girnar #easypolicy #securenow
PJ & ASSOCIATES @ COVERFOX/RENEWBUY/ SMC/SALESPOINT POLICYBAZAAR/MINTPRO/GIRNAR/easy policy etc -WEB INTEGRATORS 71 companies.400 products-ONE PLATFORM Call +91-9971486715 , prernaji89.wordpress.com twitter.com/devil743 , facebook.com/er.prerna.jain , youtube.com/channel/UC-vO0dQrLqE8G1pRRvThrFA/videos , Instagram.com/devil743_orangecub_prernajain/ , linkedin.com/in/prernajain26 , Motor/Life/ Travel/ Marine/ Health/Property (Office/Home)/Pet/ Liability/ Fire- Burglary/Cancer Insurance, ULIP,  Personal Accident /Critical Illness /Business/Corporate  Insurance .Keyman, Employer Employee. Married Woman Property Act.Partnership, HUF,Professional Indemnity, Workmen Compensation, Erection/Construction- All Risk,Contractor’s Plant & Machinery, Group Policy, Retirement- Pension/Annuity,Gratuity,Leave Encashment, Child–Education/ Marriage, NRI /HNI Plan,  Handicap Dependent/ Child with Special Needs, Pure Term/ Term with Return of Premium » Income Tax Return Filing. Accounts Writing/GST »Equity/Commodity, Securities, Stock Broking, DEMAT,Trading, Derivatives/Currency, Mutual Funds SIP/ Equity Linked Savings Scheme , IPO/Debentures, NFO /Portfolio Management Services .Fixed Deposit /Bonds INSPIRATION JOINT》 Emcee Anchor Speaker Event manager Orator Trainer Radio /video jockey Presenter Voiceover artist Host Ventriloquist Launch ur presence- blog content writing SEO/SMO ORANGE CUB if u cant adopt -foster if u cant foster - sponsor if u cant sponsor - volunteer if u cant volunteer- donate if u cant donate -educate/ network/cross post/ feed/ help EVERYONE CAN DO SOMETHING 2 SAVE A Life. Help voiceless/ it's service 2 GoD Drive slow, stop 4 animal. Someone is waiting at home for u in ur family & animal's too. #gettyimages #metgala #fashion #commission #anchor #host #emcee #radiojockey #videojockey #voiceoverartist #ventriloquist #presenter #trainer #orator #loan #speaker #insurance #doggo #blogger #germanshephard #newsreader #journalist #mutualfunds #lifeinsurance #healthinsurance #coverfox #brokers #policybazaar
PJ & ASSOCIATES @ COVERFOX/RENEWBUY/ SMC/SALESPOINT POLICYBAZAAR/MINTPRO/GIRNAR/easy policy etc -WEB INTEGRATORS 71 companies.400 products-ONE PLATFORM Call +91-9971486715 , prernaji89.wordpress.com twitter.com/devil743 , facebook.com/er.prerna.jain , youtube.com/channel/UC-vO0dQrLqE8G1pRRvThrFA/videos , Instagram.com/devil743_orangecub_prernajain/ , linkedin.com/in/prernajain26 , Motor/Life/ Travel/ Marine/ Health/Property (Office/Home)/Pet/ Liability/ Fire- Burglary/Cancer Insurance, ULIP,  Personal Accident /Critical Illness /Business/Corporate  Insurance .Keyman, Employer Employee. Married Woman Property Act.Partnership, HUF,Professional Indemnity, Workmen Compensation, Erection/Construction- All Risk,Contractor’s Plant & Machinery, Group Policy, Retirement- Pension/Annuity,Gratuity,Leave Encashment, Child–Education/ Marriage, NRI /HNI Plan,  Handicap Dependent/ Child with Special Needs, Pure Term/ Term with Return of Premium » Income Tax Return Filing. Accounts Writing/GST »Equity/Commodity, Securities, Stock Broking, DEMAT,Trading, Derivatives/Currency, Mutual Funds SIP/ Equity Linked Savings Scheme , IPO/Debentures, NFO /Portfolio Management Services .Fixed Deposit /Bonds INSPIRATION JOINT》 Emcee Anchor Speaker Event manager Orator Trainer Radio /video jockey Presenter Voiceover artist Host Ventriloquist Launch ur presence- blog content writing SEO/SMO ORANGE CUB if u cant adopt -foster if u cant foster - sponsor if u cant sponsor - volunteer if u cant volunteer- donate if u cant donate -educate/ network/cross post/ feed/ help EVERYONE CAN DO SOMETHING 2 SAVE A Life. Help voiceless/ it's service 2 GoD Drive slow, stop 4 animal. Someone is waiting at home for u in ur family & animal's too. #voiceoverartist #ventriloquist #presenter #trainer #orator #loan #speaker #insurance #doggo #blogger #germanshephard #newsreader #journalist #mutualfunds #lifeinsurance #healthinsurance #coverfox #brokers #policybazaar #renewbuy #fireinsurance #marineinsurance #professionalindemnity #cardekho #cars24 #girnar #easypolicy #securenow
PJ & ASSOCIATES @ COVERFOX/RENEWBUY/ SMC/SALESPOINT POLICYBAZAAR/MINTPRO/GIRNAR/easy policy etc -WEB INTEGRATORS 71 companies.400 products-ONE PLATFORM Call +91-9971486715 , prernaji89.wordpress.com twitter.com/devil743 , facebook.com/er.prerna.jain , youtube.com/channel/UC-vO0dQrLqE8G1pRRvThrFA/videos , Instagram.com/devil743_orangecub_prernajain/ , linkedin.com/in/prernajain26 , Motor/Life/ Travel/ Marine/ Health/Property (Office/Home)/Pet/ Liability/ Fire- Burglary/Cancer Insurance, ULIP,  Personal Accident /Critical Illness /Business/Corporate  Insurance .Keyman, Employer Employee. Married Woman Property Act.Partnership, HUF,Professional Indemnity, Workmen Compensation, Erection/Construction- All Risk,Contractor’s Plant & Machinery, Group Policy, Retirement- Pension/Annuity,Gratuity,Leave Encashment, Child–Education/ Marriage, NRI /HNI Plan,  Handicap Dependent/ Child with Special Needs, Pure Term/ Term with Return of Premium » Income Tax Return Filing. Accounts Writing/GST »Equity/Commodity, Securities, Stock Broking, DEMAT,Trading, Derivatives/Currency, Mutual Funds SIP/ Equity Linked Savings Scheme , IPO/Debentures, NFO /Portfolio Management Services .Fixed Deposit /Bonds INSPIRATION JOINT》 Emcee Anchor Speaker Event manager Orator Trainer Radio /video jockey Presenter Voiceover artist Host Ventriloquist Launch ur presence- blog content writing SEO/SMO ORANGE CUB if u cant adopt -foster if u cant foster - sponsor if u cant sponsor - volunteer if u cant volunteer- donate if u cant donate -educate/ network/cross post/ feed/ help EVERYONE CAN DO SOMETHING 2 SAVE A Life. Help voiceless/ it's service 2 GoD Drive slow, stop 4 animal. Someone is waiting at home for u in ur family & animal's too. #gettyimages #metgala #fashion #commission #anchor #host #emcee #radiojockey #videojockey #voiceoverartist #ventriloquist #presenter #trainer #orator #loan #speaker #insurance #doggo #blogger #germanshephard #newsreader #journalist #mutualfunds #lifeinsurance #healthinsurance #coverfox #brokers #policybazaar
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