Insurance MCQ Questions and Solutions with Explanations | Commerce

A. If the insured dies within three years of policy duration

B. If the insured dies within five years of policy duration

C. If the insured dies within seven years of policy duration

D. If the insured dies within ten years of policy duration

A. Claim paid on maturity of a term insurance policy

B. An instalment payable upon reaching the milestone under a money-back policy

C. Claim paid for critical illnesses covered under the policy as a rider benefit

D. Surrender value paid on surrender of an endowment policy by the policyholder

A. Death claim

B. Maturity claim

C. Periodical survival claim

D. Surrender claim

A. Premiums paid will be returned with 2% higher interest rate as compared to a bank’s savings deposit

B. Lower of sum assured or fund value

C. Surrender value

D. None of the above

A. Ramya dies after 6 months of buying a term insurance plan

B. Manoj dies after one and half years of buying a term insurance plan

C. David dies after two and half years of buying a term insurance plan

D. Pravin dies after five and half years of buying a term insurance plan

A. 50

B. 100

C. 30

D. 25

A. Indicate the scale of commission if asked by the customer

B. Share the commission by way of rebate

C. Disclose his licence on demand

D. Indicate the premium to be charged

A. Lost

B. Destroyed

C. Mutilated

D. All of the above

A. Graduate

B. 10th

C. Post-graduate

D. 7th

A. Telemarketing

B. Insurance agents

C. Bancassurance

D. All of the above