Assessment Title : Chapter1 Total Questions : 10

Module : Chapter 1-History Of Life Insurance Total Marks : 10

Q1. The insurance products designed by the insurance Companies may not

Take care of the needs of individuals in different life stages

Provide varied investment options

Provide flexibility and add-on benefits

Guarantee capital appreciation

Q2. Insurance Agents are

Who work only for insurance company

Who work for customers

Who work in their own interest

Intermediaries

Q3. includes banks and brokers?

insurance underwriters

Intermediaries

Actuary

Compostie agents

Q4. Which of the following is not a type of insurance organization?

Ombudsman

Life insurance

Non-Life insurance

Reinsurance

Q5. Which of the following is not an indirect marketing channel

Individual agent

Bancassurance

Direct broker

E sales

Q6. ..means before loss what was his financial status and for the same financial status to bring him is called

A indemnity

material information

utmost goodfaith

none of the above

Q7. Micro insurance is transacted by

Life Insurers only

Non-Life Insurers only

 non-life and life insurers

None of them

Q8. Which of the following is not a type of life insurance product

Health insurance

Whole life policy

Term insurance

Pension and Savings plans

Q9. Reinsurance means

Purchase of additional insurance by an insured person

Bringing into force a lapsed policy

Insurers seeking transfer of risk to shield themselves from over insurance

An individual insuring with different insurance companies

Q10. Which of the following statements does not apply to Direct Marketing in life insurance ?

Sourcing the business through agent advisors

Contract is concluded between the insurance companies and insured with no middlemen.

E sales refers to sales of insurance product through internet where no intermediaries are involved

The Insurance companies can sell the products much cheaper as no intermediary commissions are eliminated

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