Insurance MCQ Questions and Solutions with Explanations

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101.
Annuities are not classified on the basis of –

A. How purchased

B. How often paid

C. When annuity begins

D. Profits/Bonus

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102.
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 & B

D. None of the above

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103.
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. None of the above

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104.
What are the types of Annuities?

A. Immediate Annuity

B. Deferred Annuity

C. Both A & B

D. None of the three

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105.
Under Immediate annuity, the premium has to be paid

A. In regular instalments

B. In lumpsum

C. Both A & B

D. None of the above

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106.
Under Deferred annuity, the premium has to be paid –

A. In regular instalments

B. In lumpsum

C. Both A & B

D. None of the above

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107.
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

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108.
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

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109.
Which type of Annuity will have 2 distinct phases?

A. Immediate Annuity

B. Deferred Annuity

C. Spouse Annuity

D. Joint life annuity

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110.
Which one of the following statement is correct?

A. Every Annuity is pension

B. Every Pension is an Annuity

C. Both A & B

D. None of the above

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Insurance MCQ Questions and Solutions with Explanations | Commerce

101. Annuities are not classified on the basis of –

Answer & Solution

102. Which one of the following statements is correct?

Answer & Solution

103. In a joint life annuity, what would happen to annuity payment if the spouse is to predecease the annuitant?

Answer & Solution

104. What are the types of Annuities?

Answer & Solution

105. Under Immediate annuity, the premium has to be paid

Answer & Solution

106. Under Deferred annuity, the premium has to be paid –

Answer & Solution

107. Under Deferred annuity, the time period between its purchase and start of annuity payments is called–

Answer & Solution

108. What are the 2 distinct phases of a Deferred Annuity?

Answer & Solution

109. Which type of Annuity will have 2 distinct phases?

Answer & Solution

110. Which one of the following statement is correct?

Answer & Solution

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101.
Annuities are not classified on the basis of –

102.
Which one of the following statements is correct?

103.
In a joint life annuity, what would happen to annuity payment if the spouse is to predecease the annuitant?

104.
What are the types of Annuities?

105.
Under Immediate annuity, the premium has to be paid

106.
Under Deferred annuity, the premium has to be paid –

107.
Under Deferred annuity, the time period between its purchase and start of annuity payments is called–

108.
What are the 2 distinct phases of a Deferred Annuity?

109.
Which type of Annuity will have 2 distinct phases?

110.
Which one of the following statement is correct?