Insurance MCQ Questions and Solutions with Explanations | Commerce

A. Communication, assertiveness and punctuality

B. Attraction, communication and punctuality

C. Politeness, affirmation and ability to effectively communicate

D. Affirmation, assertiveness and attraction

A. It is not always possible or even necessary for ethics in selling life insurance

B. Ethical behaviour will quite often conflict with business dealings

C. Ethical behaviour on the part of an agent will help in developing trust and confidence between an agent and his client

D. Ethics should matter to top management and not agents

A. Individual Grievance Management Service

B. Integrated Grievance Management System

C. Indian Grievance Management System

D. Insurance Grievance Management System

A. After sales service in insurance is more critical and necessary than in other marketing of products and services

B. Commitment to serving customers is the secret of success in life insurance selling and marketing

C. Customer lifetime value is the sum of economic benefits arising out of a long time sound and productive business relationship with customers

D. All of the above

A. Rs.250

B. Rs.100

C. 10% of the relief sought and given

D. No fee is payable

A. In Money Back Claim on maturity the balance sum alone is payable along with attached bonus, if any

B. In the above case full sum assured is payable

C. Nothing more is payable after the instalments are paid to the assured

D. On death before the end of the policy in the above case the balance sum is payable

A. 6 months

B. 3 months

C. 45 days

D. 30 days

A. No licence is actually needed by the agent if he is authorised by the Insurer

B. No agent can do insurance business without a valid licence under sec.42 of the Insurance Act 1938

C. An agent of insurance works for salary in an Insurance company

D. A Director of an Insurance company can be an insurance Agent

A. Rs.500

B. Rs.100

C. Rs.250

D. Rs.1000

A. Educational qualification for becoming an agent in all circumstances is 12th STD pass

B. Educational qualification for becoming an agent in all cases is 10th STD pass

C. There is no minimum educational qualification for becoming an agent of an insurer

D. None of the above