Hey buddy below I am giving you the Insurance Regulatory and Development Authority of India IRDA exam Insurace practice questions you can have a look


1. R8. Buying insurance is an act of ................. a. Risk transfer
b. Risk retention
c. Risk minimizing
d. Risk clearance
2. R10. Which sentence is correct? Insurance is possible if the event happens is not sure
The cause of loss is called peril
Both Sentences are correct
Both Sentences are incorrect
3. 3.40 In a claim, the customer got much more than the Sum Assured. Why? Investment Frequency
Nature of payment
Nature of Death
Survival Benefits
4. ON22. During sales process, if the client disagrees with the recommendation of agent, the agent should Ask the names of people who would be interested in financial planning
Ask the reasons for the refusal
Present a different product
Not disturb the client further
5. 5.31 If a valid claim is delayed by the insurer then the interest for the same will have to be paid by the insurance after how many days from the date of admission of the claim? 60 days
10 days
20days
30 days
6. Z5. Which kind policies are not entitled bonuses? Non participatory
Children's
Money back
Whole life
7. JN9. With reference to the principle of indemnity a life insurance policy is a.--- Insurance contract.
Major life contract
Value contract.
Indemnity contract.
8. 135. When the sales target of the agent is less what will be its effect on churning. Less churning.
High Churning
No Churning.
Less sales
9. 29. One can have insurance policy from Agent
Bank Assurance
Direct Marketing
Above all
10. 188. Amar was hospitalized and submitted his photo identity card to network hospital. He has availed cash less facility. Who will pay bills? Amar has to pay whole bills
Hospital will get bills settled from insured and insurer in equal proportion
Hospital will get bill settled from insurer
Insured will have to pay first and claim from insurer
11. 427. The sole focus during Sasikumar’s fact-find session was healthcare requirements and estate planning. Which main life stage is he most likely to fall into? Young married couple
Pre-retirement.
Young married with children.
Retirement
12. KA34. The age of appointee should be more than-------- the age of nominee
18 years
21 years
12 years
13. 628 Unethical behavior can affect the reputation Insurance Agent
Insurance company
Insurance Agent & company
Insured person
14. JI16. Under the IRDA guidelines for Claim settlement, any queries or additional documents can asked from the claimant within ... 5 days from the receipt
10 days from the receipt
15 days from the receipt
20 days from the receipt
15. ex5. Insurance Market divided into........ and............. Endowment and Money Back Insurance
Life and General (non-life) Insurance
Government and Private Insurance Markets
Health and Saving Insurance Markets
16. 5.30 Risk where no possibility of making profit is........... Pure risk
particular risk
Both of the above
None of the above
17. 603 Whose signature is required on attestation of the policy? Proposer
Agent
Authorized officials of insurer
Policy holder
18. KA16. Apart from the salary level, what other key features of Arjun's job is likely to have a major impact on the level of his pension life insurance and health insurance needs? The travelling needed in his occupation
His retirement age
Whether the job is in the public or private sector
Whether the job is skill-based or physical work
19. 5.28 National insurance academy has the following main functions Interact with the government
Training
Mortality assumptions
Calculating premium
20. 648 What is the stipulated time frame within which an insurer is supposed to respond after receiving any communication from its policyholders? 10 days
30 days
24 hours
1 day
21. ON24. If the client object that other companies product is better, what the agent should do? He should not agree and try convince the client with arguments
He can present a chart comparing the policy with other policies
Offer some more additional benefits for sales to happen
Offer some commission
22. JI17. If Ombudsman makes a recommendation and is accepted by Complainant then it would be... Binding on the insurer
Binding on Court Of Law
Binding on IRDA
Binding of Insured
23. 644 In which of the following plan remaining part of the Sum Assured is paid on maturity? Convertible Plan
Money Back plan
Term Plan
Endowment Plan
24. 144. The primary object of Fact Finding is............ Giving comparison to customer
Need Identification of customer
To provide regulation information
To do the audit of customer
25. ON18. In a death claim filed by Anjali mentioned that her son Asok died a natural death. The insurance company rejected the claim saying that it was not a natural death claim. Her insurance agent is Amar. What he should do? Should advise Anjali to lodge complaint with the internal grievance redressal cell of the insurer.
Should advise her not to complaint against the company keeping in mind that he was for the company
Act as a mediator between the company and Anjali
Don’t interfere at all
26. 5.41 If a policy with premium of Rs 5000 has matured, how much will be deducted when the maturity claim arises Nil
1%
5%
10%
27. r12. A life insurance can only be made paid up only if.......... All premiums are paid
Sum Assured is high
Riders attached
There is savings element
28. 5.34 When can an insurance company give more than 35% first year commission? If the agent is doing more than 3 policies in a month.
When the insurance company is in the first 10 years of operation
If the agent has worked with the company for more than 5 years
If the agent has worked with the company for more than 10 years
29. KA2. A policy holder asked his insurance agent to help tp process a claim for the maturity benefit under his life insurance policy. Due to busy engaged with target achievement , the agent declined to assist consequently, this action is considered to be a breach of the ...... code of conduct Insurance Regulatory and Development Authority
Insurance Ombudsman's code of conduct
Insurance agent's association of India's membership rules.
Insurance Council's guidelines
30. KB3. Manoj has taken an insurance plans from A company. But he purchased the annuity from B company. Which feature of pension plan reflects here? Commutation
Deferred annuity
Open market option
Flexible payment