1 Which of the following is not a part of communication process?

a) Source
b) Message
c) Encoding
d)Acceptance
2 When a person includes another to act on a false belief that is caused by a representation he or she doesn’t
not believe to be true. The statement is referred as
a) Coercion
b) Fraud
c) Undue influence
d) Mistake
3 Financial planning involves ______________ degrees planning
a) 90
b) 180
c) 270
d) 360
4 Where was the first universal life policy introduced
a) U.S.A
b) U.K
c) France
d) Italy
5 ___________ is simply the discount rate we assume for arriving at a present value of future claim payments
that have to be made.
a) Rebate
b) Interest
c) Excess
d) Discount
6 For the subsequent premiums received by the insurance company after the first premium, the company will
issue
a) First Premium receipt
b) Renewal Premium receipt
c) Revival Quotation
d) Reinstatement premium receipt
7 How the substandard lives are accepted
a) With higher premium
b) With extra premium
c) With certain restrictions
d) All the above
8 Health care is broadly categorized into
a) Primary health care
b) Secondary health cars
c) Tertiary health care
d) all the above
9 Medical expenses incurred immediately before the hospitalization of the person is known as
a) Post hospitalization
b) Hospitalization
c) Post discharge expenses
d) Pre hospitalization
10 The complaints where values of good & services and the compensation claimed
 a) State commission
b) National commission
c) District Forum
d) Civil Court
11 Multi level marketing scheme means any scheme as defined in explanation to section of the act
a) 42 b
b) 42 a
c) 43a
d) 43 b
12 Which one of the following is not a type of goal for financial planning exercise
a) Short term goal
b) Very short term goal
c) Medium term goal
d) Long term goal
13 Actuarial reserves under traditional plans are based on which of the following assumptions?
a) Mortality
b) Interest rates
c) Expenses
d) all the above
14 Tabular premium is charged for a group of individual who are not subject significant risk: such individual lives
are called.
a) Tabular lives
b) Standard lives
c) Normal lives
d) Special lives
15 Which of the following can be attributed to moral hazard?
a) Increased risky behavior following the purchase of insurance
b) Increased risky behavior prior to the purchase of insurance
c) Decreased risky behavior following the purchase of insurance
d) Engaging in criminal acts post being insured
16 The person to whom the policy rights have been transferred?
a) Assignor
b) Assignee
c) Endorser
d) Payee
17 In case of accidental death, which of the below additional document is requested to be submitted?
a) Certificate of burial or cremation
b) Treating Physician's certificate
c) Employer's certificate
d) Inquest report
18 The policy must be stamped in accordance with
a) IRDA Act 1999
b) Insurance Act 1938
c) Indian stamp Act 1899
Insurance Act 2015
19 The first retail Health Insurance plan was introduced in the year _______ under the name _______
a) 1986, Mediclaim
b) 1990, Bhavishya Arogya
c) 1991, Jiwan arogya
 d) 1993, Rashtriya Swasthya Bima Yojana
20 Identify the scenario where a denote on the need for insurance is not required?
a) Property Insurance
b) Business liability insurance
c) Motor insurance for the third party
Fire insurance
21 Which of the following application form is used for Composite agent?
a) Form 1-B
b) Form II-B
c) Form V-B
d) Form 680
22 What kind of policy will help for the risk associated with living too long?
a) Endowment Policy
b) Term Policy
c) Health Policy
d) Pension Policy
23 The term "Par" implies for __________ policies?
a) Parity
b) Non Participating
c) Term
d) Participating
24 In case the key person dies, the benefit under Key man insurance is paid to ________
a) Nominee
b) Insured
c) Company
d) Insurer
25 Which of the following is standard age proof?
a) Passport
b) Bank statement
c) Pan card
d) a and c
26 When can be the nomination done
a) At the time of proposal
b) at the time of revival\
c) Any time during the term of policy
d) a & c
27 The Indian Evidence Act provides for presumption of death if a person has not been seen for _________ years?
a) 7
b) Indian Evidence act
c) Consumer Protection Act
d) The Indian Missing Act
28 It is a customary for insurance companies to add a ___________ in the proposal form, though there is no
standard format of practice
a) Condition
b) Printed Notes
c) Term
d) Disclaimer
29 Certain occupations have extra risk to accidents or exposures like
a) Drivers
 b) Blasters
c) X-ray machine operators
d) all the above
30 Insurance is based on which of the following concepts
a) Pooling & sharing
b) Joint Family system
c) Unity & Diversity
d) reduction & retention
31 Which of the following is not the example of material facts
a) Construction of building
b) Type of occupancy
c) Nature of good stored
d)Nature of employers
32 While doing investment planning, one must take care of the following
a) Risk taking appetite
b) Financial goals
c) Time horizon
d) all the above
33 In a customer's mind, there are two types of feelings and related emotions that arise with each service failure
on part of the insurance company, These feelings are
a) Confusion and empathy
b) Sense of unfairness and hurt ego
c) Ignorance and sympathy
d) Dishonesty and revenge
34 Efficient allocation implies
a) faster rate of accumulation & more funds available in future
b) slower rate of accumulation & more funds available in future
c) faster rate of accumulation & less funds available in future
c) slower rate of accumulation & less funds available in future
35 The award given by Ombudsman should not be more than _______________.
a) Rs 25 Lakhs
b) 20 Lakhs
c) 30 lakhs
d) 40 Lakhs
36 When a proposal is accepted, it becomes
a) Agreement
b) Policy
c) Contract
d) Promise
37 Financial planning includes
a)Postponement of Consumption
b) Parting with liquidity
c) Investment
d) All the above
38 Life Insurance companies could make direct linkage with the investment gains through investment in which of
the following ways
a) BUOYANT capital market
b) Post office schemes
c) Bank FD
 d) Provident Fund
39 What are the components of net premium
a) Mortality
b) Interest
c) Management expenses
d) a &B
40 Which is the oldest insurance company in India
a) The Oriental Insurance Company Ltd
b) National Insurance company Ltd
c) Bombay mutual assurance society ltd
d) Triton Insurance company ltd
41 Who constitute the Standard lives
a) those who suspect or know their chance of experiencing a loss is high and seek out insurance to gain
b) those who anticipated mortality is corresponds to standard lives represented by the mortality table
c) those who anticipated mortality is significantly lower than standard lives
d) these who anticipated mortality is higher than the average or standard lives, but still are insurable
42 Cortical illness claims are ascertain based on
a) Financial records
b) Hospital Records
c) Medical & other related records
d) Office records
43 Find the incorrect statement
a) endorsement is attached to policy and forms part of it
b) policy and endorsement together constitute evidence of contract
c) endorsement may be issued at the inception or during the policy term
d) All policies must include endorsement
44 Which of the following is the first insurance company set up in India
a) The Oriental Life Insurance Company Ltd
b) National Insurance company Ltd
c) Bombay mutual assurance society ltd
d) Triton Insurance company ltd
45 _____________ means a dispute where the person whom a complaint has been made, denies and disputes the
allegation contained in the complaint
a) Common dispute
b) Consumer dispute
c) Constant Dispute
d) I insurance Dispute
46 Which of the following is not the category of risk considers for life insurance.
a) Dying too early
b) Living too long
c) Accident
d) living with disability
47 Who can be a trustee as per MWP Act?
a) Wife
b) Child over 18 years of age
c) Any child
d) a & b
48 ________ is the value at which the life insurer has purchased or acquired its assets
a) Book Value
 b) Market Value
c) Discounted present value
d) Actual Value
49 Policy holder can get his policy can cancelled during coolant off period if____
a) he doesn’t have sufficient income to pay future premiums
b) he is not satisfied with the terms & conditions
c) he is changing his place of residence
d) he is getting retire
50 Why is family history important in medical underwriting?
a) rich parents have healthy kids
b b) certain diseases can be passed on from parents to children
c) poor parents have malnourished kids
d) family environment is a critical factor