Insurance MCQ Questions and Solutions with Explanations | Commerce

A. KYC document is to be collected by the insurer from the proposer

B. Identification of the proposer is the main purpose of KYC

C. PAN card is a proof of one's identity while seeking life cover

D. All of the above

A. Forcing a policy to lapse

B. Reinstating a lapsed policy

C. Not paying the premiums

D. Non-settlement of claim monies

A. The value of the units

B. The number of units standing to the credit of the unit holder

C. Both A & B

D. None of the above

A. Progressive

B. Aggressive

C. Secured

D. Conservative

A. The insured survives the first 5 years

B. The insured dies during policy term

C. The insured is diagnosed with a critical illness

D. The insured survives policy term

A. In group insurance, a single policy is issued covering many persons

B. In group insurance, a single policy is issued covering many persons

C. Both the statements above are correct

D. Both the statements above are wrong

A. Only 1

B. Only 2

C. Both A & B

D. None of the above

A. Process of hiding the origin of the money

B. Turning illegal money into legal money

C. Bringing illegal money into economy

D. All of the above

A. Insurance company

B. Sub-agent

C. Co-agent

D. Broker

A. Life insurance

B. House loans

C. Protection of assets

D. Health insurance