Insurance MCQ Questions and Solutions with Explanations | Commerce

A. Whenever the policyholder feels the need for money

B. When the insured events happen

C. When a premium is not paid

D. Whenever any of the three things mentioned above happen

A. Maturity claim cheques are paid to the trustees in a MWP Act case

B. Maturity claim cheques are paid to the beneficiaries in a MWP Act case

C. Both the statements above are correct

D. Both the statements above are wrong

A. Section 45 of the Act will not apply

B. The claim can be treated as an early claim

C. Foul play must be suspected

D. All of the above

A. A policy reported to be lost, may actually have been assigned

B. A policy has no value after the payment of survival benefits

C. Both the statements above are correct

D. Both the statements above are wrong

A. The foreign exchange regulations apply if the life insured is a non-resident

B. The foreign exchange regulations apply if the claimant is a non-resident

C. Both the statements above are correct

D. Both the statements above are wrong

A. ULIPs provide for flexibility

B. ULIPs are better than traditional policies

C. Both the above statements are correct

D. Both the above statements are wrong

A. In ULIPs, the offer bid spread is the difference between the two prices

B. In ULIPs, the offer bid spread, will in some cases be zero

C. Both the above statements are correct

D. Both the above statements are wrong

A. In ULIPs the insurance cover must be a minimum multiple of the premium

B. ULIPs can be surrendered after two years

C. Both the above statements are correct

D. Both the above statements are wrong

A. Life insurance is the best savings scheme for all persons

B. Life insurance is the best investment scheme for young persons

C. Both the statements above are correct

D. Both the statements above are wrong

A. An insurance agent has fixed working hours

B. An insurance agent has to mark his attendance in office every day

C. An insurance agent works according to his schedule

D. An insurance agent cannot do any other work