Monday, 2 September 2019

lic agent IC-38 exam set-41

LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-41

Online IC-38 Mock Test and training material for LIC agency

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IC-38 Online Mock Test for LIC agency Exam preparation SET-41

Question-1 :

Risk Transfer means
[A]. Insuring with the owner of the company [B]. Insuring with another individual
[C]. Risk retention [D]. Insuring with an insurance company

Question-2 :

Which of the below is a condition of assignment ?
[A]. It is necessary that the assignment be supported by valuable consideration, which may include love and affection. [B]. The person executing it (the assignor) must have absolute right and title or assignable interest to the policy being assigned.
[C]. It is imperative that the assignment is not opposed to any law in force. For example the assignment of a policy to a foreign national residing in another country may contravene exchange control regulations. [D]. All of the above

Question-3 :

___________________________ : Under this method underwriters assign positive rating points for all negative or adverse factors (negative points for any positive or favourable factors)
[A]. Judgment Method [B]. Numerical Method
[C]. All of the above [D]. None of the above

Question-4 :

Que. 30 :Which of the below is a criteria for a hospital establishment ?
[A]. Maintains daily records of patients and makes these accessible to the insurance company’s authorised personnel [B]. Has at least 10 in-patient beds in towns having a population of less than 10,00,000
[C]. At least 15 in-patient beds in all other places [D]. All of the above

Question-5 :

The awards by Ombudsman are governed by the following rules:
[A]. The award should not be more than Rs.20 lakh (inclusive of ex-gratia payment and other expenses) [B]. The award should be made within a period of 3 months from the date of receipt of such a complaint, and the insured should acknowledge the receipt of the award in full as a final settlement within one month of the receipt of such award
[C]. All of the above [D]. None of the above

Question-6 :

Loan value is percentage of___________?
[A]. Paid up value [B]. Surrender value
[C]. Revival value [D]. None

Question-7 :

Insurers, hence, need to determine the true identity of their customers. Agents should ensure that proposers submit the proposal form along with the following as part of the KYC procedure:
[A]. Proof of address [B]. Income proof documents in case of high-value transactions
[C]. Photographs [D]. All of the above

Question-8 :

Which of the below death claim will be treated as an early death claim ?
[A]. If the insured dies within seven years of policy duration [B]. If the insured dies within five years of policy duration
[C]. If the insured dies within three years of policy duration [D]. If the insured dies within ten years of policy duration
As per the _______________, an agent is one who is licensed under Section 42 of the Act, authorized to be a salesman for insurance
[A]. Indian Contract Act [B]. Insurance Act
[C]. Stamp Act [D]. Income Tax

Question-10 :

What does shopkeeper’s Insurance covers ?
[A]. Burglary and Housebreaking [B]. Machinery and Breakdown
[C]. Electronic Equipment and Appliances [D]. All of the Above

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