Tuesday, 20 August 2019

lic agent IC-38 exam set-15

 LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-15

CHAPTER 15 : PAYMENTS UNDER A LIFE INSURANCE POLICY

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IC-38 Online Mock Test for LIC agency Exam preparation SET-15

Question-1

Given below are some events that will trigger survival claims. Identify which of the below statement is incorrect?
[A]. Claim paid on maturity of a term insurance policy [B].An instalment payable upon reaching the milestone under a money-back policy
[C].Claim paid for critical illnesses covered under the policy as a rider benefit [D]. Surrender value paid on surrender of an endowment policy by the policyholder

Question-2

Given below is a list of documents to be submitted for a normal death claim by all beneficiaries in the event of death of life insured. Pick the odd one out which is additionally required to be submitted only in case of death by accident.
[A]. Inquest report [B].Claim form
[C].Certificate of burial or cremation [D]. Hospital’s certificate

Question-3

A payment made under a money-back policy upon reaching a milestone will be classified under which type of claim?
[A]. Death claim [B]. Maturity claim
[C]. Periodical survival claim [D]. Surrender claim

Question-4

Given below is a list of policies. Identify under which type of policy, the claim payment is made in the form of periodic payments?
[A]. Money-back policy [B].Unit linked insurance policy
[C].Return of premium policy [D]. Term insurance policy

Question-5

Shankar bought a 10 year Unit Linked Insurance Plan. If he dies before the maturity of the policy which of the below will be paid?
[A]. Lower of sum assured or fund value [B].Higher of sum assured or fund value
[C].Premiums paid will be returned with 2% higher interest rate as compared to a bank’s savings deposit [D]. Surrender value

Question-6

Mahesh has bought a life insurance policy with a critical illness rider. He has made absolute assignment of the policy in favour of Karan. Mahesh suffers a heart attack and there is a claim of Rs. 50,000 under the critical illness rider. To whom will the payment be made in this case?
[A]. Mahesh [B]. Karan
[C].The payment will be shared equally by Mahesh and Karan [D]. Neither of the two because Mahesh has suffered the heart attack but the policy is assigned in favour of Karan.

Question-7

Based on classification of claims (early or non-early), pick the odd one out?
[A]. Ramya dies after 6 months of buying a term insurance plan [B].Manoj dies after one and half years of buying a term insurance plan
[C].David dies after two and half years of buying a term insurance plan [D]. Pravin dies after five and half years of buying a term insurance plan

Question-8

Praveen died in a car accident. The beneficiary submits documents for death claim. Which of the below document is an additional document required to be submitted in case of accidental death as compared to natural death.
[A]. Certificate of burial or cremation [B].Treating physician’s certificate
[C].Employer’s certificate [D]. Inquest Report

Question-9

As per IRDA (Protection of Policyholders Interests) Regulations, 2002, a claim under a life policy shall be paid or be disputed, within 30 days from the date of receipt of all relevant papers and clarifications required.
[A]. 7 days [B].15 days
[C].30 days [D]. 45 days

Question-10

Which of the below death claim will be treated as an early death claim?
[A]. If the insured dies within three years of policy duration [B]. If the insured dies within five years of policy duration
[C]. If the insured dies within seven years of policy duration [D]. If the insured dies within ten years of policy duration

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