Tuesday, 20 August 2019

lic agent IC-38 exam set-3

 LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-3

CHAPTER 3 LEGAL PRINCIPLES OF LIFE INSURANCE

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IC-38 Online Mock Test for LIC agency Exam preparation SET-3

Question-1

Which of the below is not a valid consideration for a contract?
[A]. Money [B].Property
[C].Bribe [D]. Jewellery

Question-2

Which among the following is true regarding life insurance contracts?
[A]. They are verbal contracts not legally enforceable [B].They are verbal which are legally enforceable
[C].They are contracts between two parties (insurer and insured) as per requirements of Indian Contract Act, 1872 [D]. They are similar to wager contracts

Question-3

________________ involves pressure applied through criminal means.
[A]. Fraud [B].Undue influence
[C].Coercion [D]. Mistake

Question-4

_____________ relates to inaccurate statements, which are made without any fraudulent intention.
[A]. Misrepresentation [B].Contribution
[C].Offer [D]. Representation

Question-5

Which element of a valid contract deals with premium?
[A]. Offer and acceptance [B].Consideration
[C].Free consent [D]. Capacity of parties to contract

Question-6

Which of the below party is not eligible to enter into a life insurance contract?
[A]. Business owner [B].Minor
[C].House wife [D]. Government employee

Question-7

Which of the below action showcases the principle of “Uberrima Fides”?
[A]. Lying about known medical conditions on an insurance proposal form [B].Not revealing known material facts on an insurance proposal form
[C].Disclosing known material facts on an insurance proposal form [D]. Paying premium on time

Question-8

Which of the below is not correct with regards to insurable interest?
[A]. Father taking out insurance policy on his son [B].Spouses taking out insurance on one another
[C].Friends taking out insurance on one another [D]. Employer taking out insurance on employees

Question-9

Which of the below action showcases the principle of “Uberrima Fides”?
[A]. Lying about known medical conditions on an insurance proposal form [B].Not revealing known material facts on an insurance proposal form
[C].Disclosing known material facts on an insurance proposal form [D]. Paying premium on time

Question-10

Which of the below party is not eligible to enter into a life insurance contract?
[A]. Business owner [B].Minor
[C].House wife [D]. Government employee

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 LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus in HINDI # SET-30 ...