lic agent IC-38 exam set-45

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IC-38 Online Mock Test for LIC agency Exam preparation SET-45

Question-1 :

Anil, 20 years old,is Secondary passed. He is staying in a Urban area. Can he get a License for Insurance agency ?
[A]. No, because the minimum qualification for urban area is 12th standard	[B]. Yes, he meets all criteria
[C]. No, because the minimum age for urban area is 21 years	[D]. NO, because he is staying in urban area.

Question-2 :

In Motor Insurance one of the warranties is
[A]. The vehicle should not be used carrying luggage for personal use	[B]. The vehicle should not be used for speed testing
[C]. The vehicle should be washed daily	[D]. The vehicle should not be run more than 200 km per day.

Question-3 :

Employees compensation policy is a type of:
[A]. Marine Insurance	[B]. Liability insurance
[C]. House holders Insurance	[D]. Fire Insurance

Question-4 :

Buying a car insurance policy allows us to :
[A]. Experience the benefit immediately after applying for a policy.	[B]. Benefit cannot be experienced till an unfortunate event occurs.
[C]. Experience the satisfaction of getting compensated irrespective of the event occurring.	[D]. None of the above.

Question-5 :

The application document used for making the proposal is commonly known as the __________.
[A]. Registration form	[B]. Proposal form
[C]. Application form	[D]. Subscription form

Question-6 :

When a customer wants to invest in a recurring deposit or a cumulative deposit, which are the main factors that have an impact
[A]. Taxes	[B]. Interest rate
[C]. Term	[D]. Payment frequency

Question-7 :

Identify the incorrect statement with regards to a qualified prospect.
[A]. A qualified prospect is one who can be approached on a favourable basis	[B]. A qualified prospect is one who can pay for insurance
[C]. A qualified prospect is one who is academically well qualified to buy insurance	[D]. A qualified prospect is one who can pass the company underwriting Requirements

Question-8 :

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]. Surrender value	[B]. Premiums paid will be returned with 2% higher interest rate as compared to
[C]. Lower of sum assured or fund value	[D]. Higher of sum assured or fund value

Initial contact can be made through a letter, by telephone, face-to face
[A]. For sales interview	[B]. For conducting a need gap analysis
[C]. For the pre-interview approach	[D]. None of the above

Question-10 :

Arbitration is a claim settlement process done ___________________
[A]. Insurance Company	[B]. In the court of law
[C]. By a group of surveyors	[D]. By abritator (s) chosen by the parties involved

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