Insurance MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Section 8 Section 9 Section 10

81.
An alternative to bonus method of distribution of surplus is

A. Lapsation method

B. Contribution method

C. Accumulation method

D. None of the above

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82.
An agent can work on which of the following bases for successful results?

A. Natural market is a source of market for a life insurance agent

B. A satisfied client can be an effective referral to an agent for further references

C. Family and friends can offer an easy opportunity for being contacted for life insurance selling

D. All of the above

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83.
_________ is reflected in the caring attitude and individualized attention given to customers.

A. Assurance

B. Empathy

C. Reliability

D. Responsiveness

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84.
Which principle means flow of resources from many to one?

A. Mutuality or pooling

B. Mutuality or cooperation

C. Pooling or funding

D. Resourcing or pooling

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85.
Which of the following are not a wealth accumulation product?

A. Shares

B. Insurance

C. Bonds

D. Real estate

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86.
An insurance company needs assets for

A. Financing a new business

B. Generating more competitive returns

C. Greater leverage in investment

D. All of the above

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87.
AML programme of an insurance company includes

A. Internal policies and controls

B. Appointment of a Principal Compliance Officer

C. Internal audit/control

D. All of the above

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88.
License to work as an insurance agent is issued by

A. General Insurance Corporation (GIC)

B. Insurance Regulatory and Development Authority (IRDA)

C. State Bank of India (SBI)

D. Post Office

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89.
As per IRDA (Protection of Policyholder’s Interest) Regulations, 2002, a claim under a life policy shall be paid or be disputed within

A. 7 days

B. 15 days

C. 30 days

D. 45 days

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90.
Mahesh ran a business on borrowed capital. After his sudden demise, all the creditors are doing their best to go after Mahesh’s assets. Which of the below assets is beyond the reach of the creditors?

A. Property under Mahesh's name

B. Mahesh's bank accounts

C. Term life insurance policy purchased under section 6 of the MWP Act

D. Mutual funds owned by Mahesh

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Insurance MCQ Questions and Solutions with Explanations | Commerce

81. An alternative to bonus method of distribution of surplus is

Answer & Solution

82. An agent can work on which of the following bases for successful results?

Answer & Solution

83. _________ is reflected in the caring attitude and individualized attention given to customers.

Answer & Solution

84. Which principle means flow of resources from many to one?

Answer & Solution

85. Which of the following are not a wealth accumulation product?

Answer & Solution

86. An insurance company needs assets for

Answer & Solution

87. AML programme of an insurance company includes

Answer & Solution

88. License to work as an insurance agent is issued by

Answer & Solution

89. As per IRDA (Protection of Policyholder’s Interest) Regulations, 2002, a claim under a life policy shall be paid or be disputed within

Answer & Solution

90. Mahesh ran a business on borrowed capital. After his sudden demise, all the creditors are doing their best to go after Mahesh’s assets. Which of the below assets is beyond the reach of the creditors?

Answer & Solution

Read More Section(Insurance)

81.
An alternative to bonus method of distribution of surplus is

82.
An agent can work on which of the following bases for successful results?

83.
_________ is reflected in the caring attitude and individualized attention given to customers.

84.
Which principle means flow of resources from many to one?

85.
Which of the following are not a wealth accumulation product?

86.
An insurance company needs assets for

87.
AML programme of an insurance company includes

88.
License to work as an insurance agent is issued by

89.
As per IRDA (Protection of Policyholder’s Interest) Regulations, 2002, a claim under a life policy shall be paid or be disputed within

90.
Mahesh ran a business on borrowed capital. After his sudden demise, all the creditors are doing their best to go after Mahesh’s assets. Which of the below assets is beyond the reach of the creditors?