Tuesday, 20 August 2019

lic agent IC-38 exam set-2

 LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-2

Chapter 2 : WHAT LIFE INSURANCE INVOLVES

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IC-38 Online Mock Test for LIC agency Exam preparation SET-2

Question-1

Which of the below is an advantage of cash value insurance contracts?
[A]. Returns subject to corroding effect of inflation [B].Low accumulation in earlier years
[C].Lower yields [D]. Secure investment

Question-2

Which of the below is not an advantage of cash value insurance contracts?
[A]. Safe and secure investment [B].Inculcates saving discipline
[C].Lower yields [D]. I.T. advantages

Question-3

Which of the below is the most appropriate explanation for the fact that young people are charged lesser life insurance premium as compared to old people?
[A]. Young people are mostly dependant [B].Old people can afford to pay more
[C].Mortality is related to age [D]. Mortality is inversely related to age

Question-4

Which among the following methods is a traditional method that can help determine the insurance needed by an individual?
[A]. Human Economic Value [B].Life Term Proposition
[C].Human Life Value [D]. Future Life Value

Question-5

Which of the below statement is true?
[A]. Life insurance policies are contracts of indemnity while general insurance policies are contracts of assurance [B].Life insurance policies are contracts of assurance while general insurance policies are contracts of indemnity
[C]. In case of general insurance the risk event protected against is certain [D]. The certainty of risk event in case of general insurance increases with time

Question-6

Which of the below cannot be categorised under risks?
[A]. Dying too young [B].Dying too early
[C].Natural wear and tear [D]. Living with disability

Question-7

Which among the following cannot be termed as an asset?
[A]. Car [B].Human Life
[C].Air [D]. House

Question-8

Which of the below mentioned insurance plans has the least or no amount of savings element?
[A]. Term insurance plan [B].Endowment plan
[C].Whole life plan [D]. Money back plan

Question-9

Who devised the concept of HLV?
[A]. Dr. Martin Luther King [B].Warren Buffet
[C].Prof. Hubener [D]. George Soros

Question-10

Which of the below is not an element of the life insurance business?
[A]. Asset [B].Risk
[C].Principle of mutuality [D]. Subsidy

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