Showing posts with label LIC EXAM IC-38 in English. Show all posts
Showing posts with label LIC EXAM IC-38 in English. Show all posts

Sunday, 17 November 2019

lic agent IC-38 exam set-73

LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-73

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

Test your Preparation


IC-38 Online Mock Test for LIC agency Exam preparation SET-73

Qusetion : 1

According to Insurance broker association of India, what is the most appropriate relationship between insurer and broker
[A]. Insurance broker represents the client and insurer, remunerate the broker [B].Insurer represent both client and broker remuneration
[C].The client represents broker and insurer remunerate broker [D]. Broker only .service the client

Qusetion : 2

A and B in enters into a Contract & B accepts the Contract with a condition. Will this be considered as a Contract Between A & B?
[A]. Contract is created only when the acceptance isunconditional. [B].Both are Correct
[C].Contract is created only when the acceptance isconditional. [D]. Both are Incorrect

Qusetion :3

Mrs. Hansa, an agent has planned to sell maximum product within a short span of time by giving maximum rebates tocustomer to complete the context target of the company. Her action
[A]. Will benefit both the company and the customer [B].Agent will be terminated
[C].Reputation of the company will be high due to offers to the customer [D]. Agent will be qualified for the contest

Qusetion : 4

Principle of Indemnity applicable to
[A]. Life Insurance [B].Both a & b
[C].General Insurance [D]. Neither a nor b

Qusetion : 5

A policy has been rejected by the company under direct intimation to the customer and copy to agent what is the next action of agent
[A]. He has to inform the customer that company has broken relationship [B].He has to explain the reasons for rejection to the customer
[C].He plans to change the plan [D]. He takes up with the higher auth.

Qusetion : 6

Moral hazard is
[A]. History of heart disease [B].Consuming alcohol
[C].Working in chemical factory. [D]. Teacher in primary school

Qusetion : 7

Jay buys a policy on the life of Nazi Who is Jay?
[A]. Life Assured [B].Proposer
[C].Nominee [D]. Appointee

Qusetion : 8

Aprofessional insurance marketcarnies
[A]. Need based selling [B].Commission based selling
[C].Product based selling [D]. Company based selling

Qusetion : 9

When will the Principle of Utmost Good faith apply in Term insurance plan?
[A]. Throughout the policy contract [B].before receiving policy document
[C].before premium deposit [D]. After receiving the policy document

Qusetion : 10

Purpose of taking life insurance would be
[A]. To save tax [B].Investment
[C].Saving habit [D]. Protection

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lic agent IC-38 exam set-74

LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-74

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

Test your Preparation


IC-38 Online Mock Test for LIC agency Exam preparation SET-74

Qusetion : 1

Earning Pooling of risk in insurance means
[A]. Premium collected & deposited in a pool [B].Premium is pool to make claim
[C].All similar risks are pooled together [D]. Contribution of insurance company

Qusetion : 2

Claim was settled however full sum assured not paid th policy was in force due to
[A]. Lien [B].Surrender
[C].Bonus [D]. Accidental death

Qusetion :3

ii Moral hazard reflects the
[A]. Intentions and attitude of proposer [B].Occupation and residence of proposer
[C].Habits and Hobbies of proposer, [D]. Medical and personal history of proposer

Qusetion : 4

Where annually increasing flexible premium operate ur insurable what rate of increase will generally apply?
[A]. 0.025 [B].0.05
[C].0.03 [D]. 0.075

Qusetion : 5

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 : 6

Proposal decision to be communicated to the client with in
[A]. 7 days [B].15 days
[C].10 days [D]. 30 days

Qusetion : 7

Which risk is associated with those events which are not in control of an individual .and no possibility of making profit
[A]. Pure risk [B].Financial risk
[C].Particular-risk [D]. Insurable risk

Qusetion : 8

Insurer appoints a candidate of this professional qualification ,who decides the amount of premium in insurance products
[A]. Actuary [B].Sales Officer
[C].Underwriters [D]. Advisor

Qusetion : 9

Which statement is correct?
[A]. lung cancer is peril and smoking is a hazard [B].Both the statement is correct
[C].smoking is peril and lung cancer is hazard [D]. Both the statement is incorrect

Qusetion : 10

Utmost good faith will operate in existing policy
[A]. Every time premium is paid [B].If insured person falls sick and admitted to hospital
[C].If policy has lapsed and it has to be revived [D]. If the insured person changes his job

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lic agent IC-38 exam set-75

LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-75

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

Test your Preparation


IC-38 Online Mock Test for LIC agency Exam preparation SET-74

Qusetion : 1

Mr. Sumesh takes a policy and pays premium Rs. 20,000with• sum insured of Rs. 3 lac what will be the tax implication on hi: maturity amount
[A]. Fully taxable [B].0.2
[C].0.1 [D]. tax fully exempted

Qusetion : 2

Under which section of the Income Tax Act can an individual get a deduction from taxable income for the
[A]. S. 80D [B].S 80E
[C].S. 80C [D]. S. 80F

Qusetion :3

Que. 32 :Each insurer is required to have an AML policy and accordingly file a copy with IRD The AML program should include:
[A]. Appointment of a principal compliance officer [B]. Internal policies, procedures and controls
[C]. Recruitment and training of agents on AML measures [D]. All of the above

Qusetion : 4

Mr. Kumar decides that his employees should have sss. whit type of plan is SSS
[A]. Salary saving life plan [B].Salary insurance plan
[C].Not a specific plan [D]. Salary specific plan

Qusetion : 5

The amount of insurance depends on
[A]. The penil [B].Neither the penil nor the risk
[C].The risk [D]. Both the penil and the risk

Qusetion : 6

Manmohan has recently purchased a house worth Rs. 50 lac on loan. Which insurance plan you an advisor will suggest?
[A]. Endowment plan [B].Whole life plan
[C].Money back plan [D]. Term plan

Qusetion : 7

A human being's value is measured by
[A]. The income that he generates [B].His academic qualification
[C].The value of the goods that he produces [D]. All of the above

Qusetion : 8

Flexibility like partial withdrawals and taking premium holidays is possible with
[A]. Fixed deposit [B].Term Insurance
[C].ULIP [D]. Endowment

Qusetion : 9

To be a valid contract ,the declaration is necessary in which document
[A]. Policy Document [B].FPR
[C].proposal form [D]. RPR

Qusetion : 10

Suresh has adequate reserve capital with him and he wishes to protect his income, moreover he feels that if he does not die than he would need the amount what type of plan should he opt for
[A]. Term insurance plan [B].Return of premium plan
[C].Endowment plan [D]. Pension plan

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lic agent IC-38 exam set-76

LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-76

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

Test your Preparation


IC-38 Online Mock Test for LIC agency Exam preparation SET-76

Qusetion : 1

A person planning to invest in Kisan Vikas Patra will go to
[A]. Insurance Branch [B].Internet
[C].Post Office  [D]. Mutual Fund Office

Qusetion : 2

Regulation issued by IRDA required that the decision on the proposal must be conveyed to the proposer within
[A]. 15 days [B].1 month
[C].20 days [D]. no time bar

Qusetion :3

A customer while investing in to Recurring deposit or Cumulative deposit what are the key factors which will matter
[A]. Taxation [B].interest rates
[C].frequency of payment [D]. tenure

Qusetion : 4

To identify suitable products their main features and their tax treatment is role of
[A]. Agent [B].Pelicyholder
[C].Insured [D]. Insured person

Qusetion : 5

Que. 46 :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 : 6

If customer has invested money in a pension plan from compafl A and buys an annuity from company B what is the nature transaction?
[A]. Lifelong annuity [B].Reinsuring annuity
[C].Open market [D]. Deferred annuity

Qusetion : 7

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

Qusetion : 8

Vinod being an insurance agent can offer assistance to his cli Ramesh by
[A]. Providing him emergency fund [B].Recommendation of product with highestreturn
[C].Matching the product with Ramesh need [D]. Discourse saving in. a purposeful and need based manner

Qusetion : 9

Qusetion : 9

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 : 10

Ramesh has invested in post office monthly income scheme. The interest rate was set at 6%. What will be the effect of rate in going years
[A]. Increase gradually [B].Remain constant
[C].Decrease grdually [D]. Chang as per market fluctuation

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LIC IC-38 EXAM in HINDI SET-30

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