Tuesday, 20 August 2019

lic agent IC-38 exam set-14

 LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-14

CHAPTER 14 : UNDERWRITING

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IC-38 Online Mock Test for LIC agency Exam preparation SET-14

Question-1

Which of the following is not a standard age proof?
[A]. Passport [B]. School leaving certificate
[C].Horoscope [D]. Birth certificate

Question-2

Under what method of underwriting does an underwriter assign positive rating points for all negative or adverse factors (negative points for any positive or favourable factors)?
[A]. Judgment [B].Arbitrary
[C]. Numerical rating [D]. Single step

Question-3

Which of the following denotes the underwriter’s role in an insurance company?
[A]. Process claims [B].Decide acceptability of risks
[C].Product design architect [D]. Customer relations manager

Question-4

Which of the following condition will affect a person’s insurability negatively?
[A]. Daily jogs [B].Banned substance abuse
[C].Lazy nature [D]. Procrastination

Question-5

Santosh has applied for a term insurance policy. His anticipated mortality is significantly lower than standard lives and hence could be charged a lower premium. Under risk classification, Santosh will be classified under ___________.
[A]. Standard lives [B].Preferred risks
[C].Substandard lives [D]. Declined lives

Question-6

Which of the following is not an underwriting decision?
[A]. Risk acceptance at standard rates [B].Declinature of risk
[C].Postponement of risk [D]. Claim rejection

Question-7

Sheena is suffering from acute diabetes. She has applied for an insurance plan. In this case the underwriter is most likely to use ____________ for underwriting. Choose the most appropriate option.
[A]. Judgment method [B].Numerical method
[C].Any of the above method since an illness like diabetes does not play a major role in the underwriting process [D]. Neither of the above method as diabetes cases are rejected outright

Question-8

Amruta is pregnant. She has applied for a term insurance cover. Which of the below option will be the best option to choose for an underwriter to offer insurance to Amruta? Choose the most likely option.
[A]. Acceptance at ordinary rates [B].Acceptance with extra premium
[C].Decline the proposal [D]. Acceptance with a restrictive clause

Question-9

Which of the below insurance proposal is not likely to qualify under non-medical underwriting?
[A]. Savita, aged 26 years, working in an IT company as a software engineer [B].Mahesh, aged 50 years, working in a coal mine
[C].Satish, aged 28 years, working in a bank and has applied for an insurance cover of Rs. 1 crore [D]. Pravin, aged 30 years, working in a departmental store and has applied for an endowment insurance plan for a tenure of 10 years

Question-10

Under risk classification, ___________ consist of those whose anticipated mortality corresponds to the standard lives represented by the mortality table.
[A]. Standard lives [B]. Preferred risks
[C]. Sub-standard lives [D]. Declined lives

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