20/05/2019 Click Here - Chapter Quiz's : TPP - Insurance

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Started on Monday, 13 May 2019, 7:19 AM

State Finished
Completed on Monday, 13 May 2019, 7:23 AM
Time taken 3 mins 51 secs
Grade 50.00 out of 50.00 (100%)

Question 1 “It is the legal document issued by the Insurance company, which outlines the general terms and conditions of the
Correct contract”- To which of the following this statement refers to?
Mark 1.00 out of
1.00 Select one:
a. Claim

b. Policy Document 

c. Free Look Period

d. Period

Question 2 The periodical payment made by the insured is known as 

Correct

Mark 1.00 out of Select one:

1.00
a. Premium 

b. Policy renewal

c. Policy period

d. None of the above

Question 3 Which of the following combinations refer to Life Insurance?

Correct

Mark 1.00 out of Select one:

1.00
a. Term Insurance, Home Insurance, Auto Insurance, Travel Insurance

b. Health Insurance, Auto Insurance, Health & Disability Insurance, ULIPs

c. Term Insurance, Traditional Insurance, ULIPs, Health & Disability Insurance 

d. Home Insurance, Auto Insurance, Traditional Insurance, ULIPs.  

Question 4 “This policy has a fixed maturity period after which a lump sum is paid back” – to which policy this statement refers to?
Correct

Mark 1.00 out of Select one:

1.00
a. Whole Life Policy

b. Life Insurance Policy

c. Health Insurance Policy

d. Endowment Policy 

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Question 5 Which of the following four types are referred as GENERAL INSURANCE?
Correct

Mark 1.00 out of Select one:

1.00
a. Health Insurance (GI), Home Insurance, Auto Insurance, Travel Insurance 

b. Home Insurance, Term Insurance, Travel Insurance, Traditional Insurance

c. Term Insurance, Home Insurance, Auto Insurance, Travel Insurance

d. All the above

Question 6 The sale of insurance via Banking Channel is known as 

Correct

Mark 1.00 out of Select one:

1.00
a. Bancinsurance

b. Bancassurance 

c. Banking Bundled product

d. None of the above          

Question 7 A Bundled product means

Correct

Mark 1.00 out of Select one:

1.00
a. A product is bundled with a banking product and then sold 

b. Insurance is sold directly to the customer when he/she comes to the bank

c. Alternate channel products are known as Bundled Products

d. Both b and c are true      

Question 8 The two key components of a Travel Insurance are:

Correct

Mark 1.00 out of Select one:

1.00
a. Coverage for medical treatment expenses 

b. Coverage of Repatriation costs

c. Both a and b are true 

d. Both a and b are false

Question 9 Structure Cover & Contents Cover are two basic covers under Home Insurance   
Correct

Mark 1.00 out of Select one:

1.00
a. True 

b. False    

Question 10 Property insurance covers the cost of any damage to the third party
Correct

Mark 1.00 out of Select one:

1.00
a. True

b. False 

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Question 11
What is a Third Party Product in Banking?
Correct

Mark 1.00 out of

1.00
Select one:
a. The in house products offered over and above the CASA

b. This are products which are those other than Bank’s own products 

c. These are products offered after third tenure of the account

d. None of the above                                                                   

Question 12 Banks need to invest their own money in TPPs.     

Correct

Mark 1.00 out of Select one:

1.00
a. True

b. False 

Question 13
Which is a TPP from below?
Correct

Mark 1.00 out of

1.00
Select one:
a. Fixed Interest Bonds of other financial companies

b. Mutual Funds

c. Insurance

d. Both b and c                                                                                

Question 14
Who is an Insurer?
Correct

Mark 1.00 out of

1.00
Select one:
a. Bank who acts as an agent for TPP

b. The person who buys insurance

c. Insurance company selling  insurance 

d. Customer of the Bank                                                                    

Question 15
What is a premium?
Correct

Mark 1.00 out of

1.00
Select one:
a. The instalment paid towards insurance coverage 

b. The client who buys a TPP

c. The company paying the insurance claim amount

d. The deposit maintained by the account holder                            

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20/05/2019 Click Here - Chapter Quiz's : TPP - Insurance

Question 16
What is the Free Look period for insurance policies?
Correct

Mark 1.00 out of

1.00
Select one:
a. 45 days

b. 15 days 

c. 30 days

d. None of the above                                                                   

Question 17
Who is a Policy Holder?
Correct

Mark 1.00 out of

1.00
Select one:
a. One who applies for policy

b. One who offers policy

c. One who holds the policy before transferring

d. One who has taken the insurance policy                                     

Question 18
Who decides the frequency of premium payment?
Correct

Mark 1.00 out of

1.00
Select one:
a. Insuring agent

b. Insuring agent

c. Policy holder 

d. Insurer  

Question 19
Under what circumstances the insurance policy will lapse?
Correct

Mark 1.00 out of

1.00
Select one:
a. When the policy holder fails to pay the premium 

b. When the policy holder dies

c. At the end of financial year

d. Anytime as per policy holder’s demand                                     

Question 20 Define Premium

Correct

Mark 1.00 out of Select one:

1.00
a. An amount debited by the bank regularly for all accounts

b. An annual charge for maintaining the account

c. An amount paid by the bank as a commission for the sale of a life insurance policy

d. A periodic payment made by the insured                                    

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20/05/2019 Click Here - Chapter Quiz's : TPP - Insurance

Question 21 What is a lapse policy?

Correct

Mark 1.00 out of Select one:

1.00
a. Period within which the customer can cancel his policy

b. A policy for which the premium has not been paid 

c. A policy which has been extended beyond the stipulated tenure

d. Policy which has been duly claimed by the customer                  

Question 22
The type and extent of risk detailed in a policy is known as…..
Correct

Mark 1.00 out of Select one:

1.00
a. Premium

b. Claim

c. Coverage

d. Sum assured                                                                                       

Question 23 A formal request to an insurance company asking for payment is known as

Correct

Mark 1.00 out of Select one:

1.00
a. Premium

b. Policy Extension

c. Coverage

d. Claim 

Question 24 Failure to pay the premium of a policy results in…….

Correct

Mark 1.00 out of Select one:

1.00
a. Policy Lapse 

b. Sum Assured in reduced

c. Premium amount is increased

d. Policy tenure is reduced                                                                   

Question 25 The amount paid to the beneficiary on the occurrence of the event mentioned in the policy is…..
Correct

Mark 1.00 out of Select one:

1.00
a. Lapse amount

b. Sum assured

c. Claim amount 

d. Premium amount                                                                                    

Question 26 General Insurance company can also issue a Life Insurance policy 
Correct

Mark 1.00 out of Select one:

1.00
a. True 

b. False

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Question 27 What is the maximum exit age?

Correct

Mark 1.00 out of Select one:

1.00
a. The age within which the customer can buy a Life Insurance Policy

b. The maximum age till which the policy will take the risk   

c. The maximum age limit before which the person is allowed to buy a policy

d. None of the above                                                                  

Question 28
Under Term Insurance the policy holder is covered upto what limit                                           
Correct

Mark 1.00 out of

1.00
Select one:
a. Indefinite period

b. Till the policy holder’s death

c. The term specified in the policy   

d. Up to the last premium paid                                                    

Question 29 If a person wants an insurance which covers the risk of death for his entire life span, which of the following would you
Correct suggest?
Mark 1.00 out of
1.00 Select one:
a. Term Insurance

b. Endowment Policy

c. Health Insurance

d. Whole Life Policy                                                                   

Question 30 Under which type of policy, will the customer get both risk cover and an investment return?
Correct

Mark 1.00 out of Select one:

1.00
a. Whole life 

b. Endowment

c. Term Insurance

d. None of the above                                                                 

Question 31 What is Cash Value?

Correct

Mark 1.00 out of Select one:

1.00
a. Total of premium paid by the customer

b. Premium paid and investment income earned therein 

c. The claim amount that the policy holder is eligible for

d. The actual disbursed amount of the total claim amount             

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Question 32
What will be the surrender value?
Correct

Mark 1.00 out of

1.00
Select one:
a. Claim amount paid by the insurer

b. Claim amount less any processing fees

c. Cash value less surrender fees 

d. Surrender fees                                                                   

Question 33 The period of an Endowment policy is

Correct

Mark 1.00 out of Select one:

1.00
a. Limited upto premium payment date

b. Unlimited

c. Upto the life of the policy holder      

d. Typical maturities are- Ten, Fifteen, or Twenty years upto a certain age limit 

Question 34 What is the common feature of Whole life and Endowment policy?    
Correct

Mark 1.00 out of Select one:

1.00
a. They have an investment returns for the premium paid 

b. They are for an indefinite period

c. The risk is low and premium is high

d. None of the above                                                              

Question 35 Under Endowment policy, the entire assurance sum and bonus is paid
Correct

Mark 1.00 out of Select one:

1.00
a. At Regular Intervals

b. At the time of maturity 

c. Once in year till maturity

d. No funds returned                                                             

Question 36 In term insurance the policy holder gets his money back. 
Correct

Mark 1.00 out of Select one:

1.00
a. True

b. False 

Question 37
Out of the following which policy gives the longest protection?
Correct

Mark 1.00 out of

1.00
Select one:
a. Term Insurance

b. Endowment Policy

c. Whole Life 

d. None of the above                                                         

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Question 38 What is ULIP

Correct

Mark 1.00 out of Select one:

1.00
a. Unit Life Insurance Policy

b. United Insurance Life Policy

c. Unit and Like Insurance Policy

d. Unit Linked insurance Plan                                                      

Question 39 How does ULIP work?

Correct

Mark 1.00 out of Select one:

1.00
a. Part premium is invested in equities, bonds 

b. Part premium is saved

c. Part premium is invested in other bank products

d. Part premium is retained by the insurer to cover other risks                  

                                                                                             

Question 40 Under ULIPs customer can decide where the part premium can be invested.      
Correct

Mark 1.00 out of Select one:

1.00
a. True 

b. False

Question 41 What is Fund under ULIPs?

Correct

Mark 1.00 out of Select one:

1.00
a. The total premium paid by the customer

b. The total premium paid by the customer 

c. Total premium paid less processing charges

d. Total premium paid                                                              

Question 42 Which of the following statements is true/correct?

Correct

Mark 1.00 out of Select one:

1.00
a. The investment risk, is borne by the policyholder/unit holder, however the insurer may however bear the
mortality and expense risk 

b. For ULIPs, the insurer bears the investment risk

c. Normally no risks are envisaged in such policies

d. Any of the above     

Question 43
What is Income Continuation Health care policy?
Correct

Mark 1.00 out of

1.00
Select one:
a. The insured gets a lump sum amount for the disability

b. Insured gets compensation on disability

c. The insured will get a monthly payment 

d. The insured will get annual payment                                       

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Question 44 Under Trauma Insurance, customer is covered against what?

Correct

Mark 1.00 out of Select one:

1.00
a. Life Insurance is covered for permanently disabled ones

b. Customer is covered against all types of illness

c. Customer is covered for temporary disability

d. Customer is covered for life threatening diseases                     

Question 45
What is Health Insurance?
Correct

Mark 1.00 out of

1.00
Select one:
a. Customer is covered against life threatening diseases

b. Customer gets compensation during the treatment

c. Covered for medical treatment cost for general illness 

d. Customer is covered for permanent disability                             

Question 46 Which policy is for a fixed maturity period?

Correct

Mark 1.00 out of Select one:

1.00
a. Endowment Policy 

b. Health Insurance

c. Term Policy

d. None of the above                                                                   

Question 47
Which insurance covers the risk of death for a specific period?
Correct

Mark 1.00 out of

1.00
Select one:
a. Endowment Policy

b. Term Policy 

c. Health Policy

d. None of the above                                                                   

Question 48 Which of policy covers the life span of the customer?

Correct

Mark 1.00 out of Select one:

1.00
a. Endowment

b. Term

c. ULIP

d. None of the above                                                                    

Question 49 General Insurance companies cannot issue a Health Insurance Policy  

Correct

Mark 1.00 out of Select one:

1.00
a. True

b. False 

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20/05/2019 Click Here - Chapter Quiz's : TPP - Insurance

Question 50
What is cashless treatment?
Correct

Mark 1.00 out of

1.00
Select one:
a. Customer doesn’t have to pay the premium in the year of illness

b. Customer is compensated for his disability in cash

c. The insurer pays the hospital directly


d. The insurer will pay for treatment to the customer directly        

◄ Click Here - E-Learning - TPP – Insurance Jump to... Click Here - Text Book - Chapter 1 : TPP-MUTUAL FUNDS ►

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