Monday, 2 September 2019

lic agent IC-38 exam set-46

IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-46

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-46

Qusetion : 1

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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

Qusetion : 2

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Which of the following is not correct, when a claim under MRI is initiated ?
[A]. The money is paid to the borrower and he has to repay to the creditor [B]. MRI and term insurance does not give the same benefits
[C]. The money is paid to the mortgagor directly [D]. The money paid is equal to the outstanding loan amount

Qusetion :3

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__________ is the fees payable to the Authority for issue / renewal of licence to Act as an insurance agent or composite insurance agent.
[A]. 350 [B].150
[C].250 [D]. 500

Qusetion : 4

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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

Qusetion : 5

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Reasons for surrender of the policy
[A]. SA [B].no commission
[C].advisor induced [D]. Has Financial Problems 

Qusetion : 6

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Which market areas do Micro Insurance product concentrate
[A]. People with large families [B].people with low income
[C].people employed with the government [D]. people with high income

Qusetion : 7

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Which section deals with the licencing of an agent?
[A]. Section 42 of insurance Act 1938 [B].Licence section of Insurance Act 1938
[C].Section 42of insurance Act l936 [D]. Licence section of Insurance agent act 1938

Qusetion : 8

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What is IRDA stands for & year of Incorporation
[A]. Insurance Regulatory and Development Authority (IRDA) . The IRDA was incorporated as an autonomousbody in April 1999 [B].IRDA is an independent body constituted to address the grievances of the insurance policy holder
[C].Insurance Regulatory and Development Authority (IRDA) was constituted in 1956 [D]. None of the above

Qusetion : 9

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What facility do insurers use to cover risks beyond their exposure limits
[A]. Bancassurance [B].Reinsurance
[C].Both [A] & [B] [D]. Neither [A] nor [B]

Qusetion : 10

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During fact finding the need revealed requirement for margin money and retirement fun Which of these assumes higher priority will be determined on the basis of
[A]. Margin money [B].Tenure left for retirement and corpus needed
[C].Retirement fund [D]. Quantum of investment
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