Monday, 2 September 2019

lic agent IC-38 exam set-39

LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-39

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-39

Question-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].0.1
[C].0.2 [D]. tax fully exempted

Question-2 :

Churning is bad , based on  which aspect
[A]. Agents earn Lower  Commission on churning [B].Policyholder gets more benefits
[C].Policyholders suffer due to surrender charges and benefits [D]. Insurance companies get good branding

Question-3 :

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].Endowment plan
[C].Return of premium plan [D]. Pension plan

Question-4 :

As an advisor why is it essential for you to carry out the financial planning exercise with the prospective client
[A]. Individuals understand their real needs and can prioritize' them [B].Individuals have same financial needs at different stages Of the life cycle
[C].Individual do not understand their real needs and cannot prioritize them [D]. Individual's real and perceived needs are same

Question-5 :

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

Question-6 :

 Mr. Raj is married and having 2 children which plan can he that can cover his whole family
[A]. Health insurance [B].Family floater
[C].Life insurance [D]. Retirement

Question-7 :

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

Question-8 :

 In which of the recognised life stages an indivlducl does not required any protection cover
[A]. Childhood [B].Young married
[C].Pre retirement [D]. Retirement
Mr. Kumar decides that his employees should have sss. whit type of plan is SSS
[A]. Salary saving life plan [B].Not a specific plan
[C].Salary insurance plan [D]. Salary specific plan

Question-10 :

Acouple has 7 year old son. What solution would they be looking for
[A]. Retirement [B].Health care
[C].Child education [D]. Life cover

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lic agent IC-38 exam set-38

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

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-38

Question-1 :

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

Question-2 :

Samir is married and he has only one partner with dependent parents and no chil What should be his priority?
[A]. Income protection [B].Inheritance planning
[C].Investment efficiency [D]. Longterm saving

Question-3 :

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

Question-4 :

Why need do self employed people have to buy medical insurance than that of a person employed with a public sector company
[A]. Public sector employees do not get sick very often [B].public sector employees enjoy medical cover related to the Job
[C].Self employed person fall sick quite often [D]. Self employed person give more priorities to health

Question-5 :

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

Question-6 :

Mr. Yash has taken an annuity on 25th August 2010. The 'benefit, of the plan will start from 25th August 2011. What type of annuity. plan isthis?
[A]. Guaranteed period annuity [B].Life annuity
[C].Deferred annuity [D]. Immediate annuity

Question-7 :

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

Question-8 :

Under a health insurance policy if a policy holder needs to his no claim bonus how can that be done
[A]. Cash encashment [B].Discount in the next premium
[C].Increase in the cover level [D]. Certain policy exclusion
Claim was settled however full sum assured not paid th policy was in force due to
[A]. Lien [B].Bonus
[C].Surrender [D]. Accidental death

Question-10 :

Customer has opted for a 5 yrs guaranteed annuity option. What will happen to annuity if the customer survives for 5 years after the end of guarantee p
[A]. Paid upto 75yrs [B].Annuity will be continued for next 5 yrs
[C].Till he die [D]. Not remembered

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lic agent IC-38 exam set-37

LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-37

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-37

Question-1 :

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

Question-2 :

Critical illness rider was taken and the rider benefit has been claimed , the rider benefit now gets
[A]. Reduced the  base SA [B].terminated
[C].continues as it is [D]. will discontinue for 1 months

Question-3 :

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

Question-4 :

A person takes a pension plan for 15 year term with Rs. 20,000 premium and S. of Rs. 3 la What would be the tax implication on maturity value at the time of maturity?
[A]. NIL [B].0.1
[C].0.2 [D]. 0.3

Question-5 :

A & 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].Contract is created only when the acceptance isconditional.
[C].Both are Correct [D]. Both are Incorrect

Question-6 :

What is the advantage of converting physical gold assets to gold ETFS Liquidity
[A]. Liquidity [B].More gold in value
[C].Purity [D]. More conversion value

Question-7 :

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

Question-8 :

Kamal is willing to pay Rs. 60,000 p for his ulip policy. What should betheSAin case he wants to avail the tax benefits?
[A]. 1 lac [B].3 lac
[C].2 Iac [D]. 1.5 lac
 Earning Pooling of risk in insurance means
[A]. Premium collected & deposited in a pool [B].All similar risks are pooled together
[C].Premium is pool to make claim [D]. Contribution of insurance company

Question-10 :

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].0.1
[C].0.2 [D]. tax fully exempted

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lic agent IC-38 exam set-36

LIC IC-38 Online Mock Test for LIC agency Exam preparation according to IRDA syllabus # SET-36

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-36

Question-1 :

Ram has invested Rs. 5000 in PPF and Rs. 1 lac in life insuranc premium in which he will get maximum tax benefit
[A]. Life insurance premium [B].PPF
[C].50% on each [D]. 95% on life insurance and 5% on PPF

Question-2 :

Income replacement methods equates human life value (HLV) to
[A]. Future value of present earning [B].Present value of future earning
[C].Present value of previous earning [D]. Future value of previous earning

Question-3 :

An insurer as a trustee, to give priority to
[A]. Policyholders, as a class [B].An individual policyholder's difficulties
[C].The claimant's financial condition [D]. All of the above

Question-4 :

 Term insurance if best suited for the following need
[A]. home loan [B].education needs
[C].marriage of kids [D]. Retirement  needs  

Question-5 :

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

Question-6 :

If 50000 is invested in Single Premium ULIP than what will be the minimum SA applicable?
[A]. 50000 [B].75000
[C].62500 [D]. 100000

Question-7 :

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

Question-8 :

What tax rate, if any, will be applicable to a life insurance policy holder for the maturity proceeds of a Rs 50,000 life insurance policy 
[A]. 0.1 [B].Nil
[C].0.2 [D]. 0.3
The probability of an event is mentioned
[A]. As a ratio [B].As a percentage
[C].Neither as a percentage nor as a ratio [D]. Either is a percentage or as a ratio

Question-10 :

 In unde riting the economic value of the person is determined be wgat
[A]. Occupation of the person [B].Financial history of his family
[C].The income that he earns [D]. Human life value

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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 ...