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IC - 38 ENGLISH
MOCK TEST - 2
Ques
tions Questions
No.
Out of 400 houses, each valued at Rs. 20,000, on an average 4 houses get burnt every year
2 resulting in a combined loss of Rs. 80,000. What should be the annual contribution of each
house owner to make good this loss?
7 Which of the following statements is correct with regards to Unit linked insurance plan
8 Which of the following is not an underwriting decision
15 What is MRI?
16
Under risk classification, ____________consist of those whose anticipated mortality corresponds
to the standard lives represented by the mortality table
17 The application document used for making the proposal is commonly known as the ___________
18 Risk transfer through risk pooling is called ________.
19
Ram needs to submit a standard age proof with his proposal, choose the most appropriate
choice
21
Which of the below statement best describes the concept of claim? Choose the most
appropriate option.
23
Incase of the amount payable under Maturity Claim—Sum Assured plus accumulated Bonus,
choose the correct option -
24
If Ram pays Rs.5000/ annual premium through an agent of LIC, LIC promises to pay
Rs.1,00,000 on death . Who is the insured?
25
If a Health Insurance policyholder takes treatment in a non-network hospital, then how will he
be reimbursed
27 Harish is a rickshaw- puller. What kind of occupational hazard does he face in his life?
28 Element of a valid contract most related to premium?
29
Manish advised Rakesh to invest in a traditional product post need analysis. If Rakesh does not
want to go for Traditional products, Manish should -
30 A________is a demand that the insurer should make as per the promise specified in the contract -
31
A __________ is a formal legal document used by insurance companies that provides details about
the product
32
Shankar bought a 10 year Unit Linked Insurance Plan. If he dies before the maturity of
the policy which of the below will be paid?
34 Who among the following is most likely to buy a variable life insurance?
36 Which of the below party is not eligible to enter into a life insurance contract?
43
Life insurance companies may offer rebate to the buyer on the premium that is payable on the
basis of ___________.
44
In a standard insurance policy document, the standard provisions section will have
information on which of the below?
45
If complex language is used to word a certain policy document and it has given rise to an
ambiguity, how will it generally be construed?
46
If a person has got cataract surgery from a day care centre, for how long does he have to stay at
the hospital?
50 _____________ relates to inaccurate statements, which are made without any fraudulent intention.
CHECK THE CORRECT ANSWERS .
IC - 38 ENGLISH
MOCK TEST - 2
YOUR
MARK CORRECT ANSWER
ANSWER
INCORRECT 0 3 3. Insurance
? INCORRECT 0 2 2. Insurance
pt of claim? Choose the most INCORRECT 2. A claim is a demand that the insurer should make good t
0 2 specified in the contract
non-network hospital, then how will he INCORRECT 1. Settle the hospital bill himself and get it reimbursed late
0 1 company
INCORRECT 0 4 4. None
t post need analysis. If Rakesh does not INCORRECT 0 2 2. Enquire about the reason behind refusal from the custom
an. If he dies before the maturity of INCORRECT 0 2 2. Higher of sum assured or fund value
INCORRECT 0 2 2. Insured
on the premium that is payable on the INCORRECT 0 1 1. Sum assured chosen by the buyer
provisions section will have 3. The rights and privileges and other conditions, which ar
INCORRECT 0 3 under the contract
TOTAL MARKS = 0
T ANSWER
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LIC VASANTHAM
TALLAKULAM BRANCH MADURAI - 625002
MOCK TEST - 2
SCORE CARD
CANDIDATES NAME : 0
REGISTRATION NUMBER : 0
DISCLAIMER :
1 This is an IC - 38 Mock test for training purpose of the actual IC - 38 Exam
M
625002
ance - ENGLISH
REMARKS
FAIL
m
IC - 38 ENGLISH
MOCK TEST - 2
( CHOOSE THE CORRECT ANSWER )
A 1. Rs.100/-
B 2. Rs.200/-
C 3. Rs.80/- -
D 4. Rs.400/-
QUE. 3. Who devised the concept of HLV?
B 2. Warren Buffet
C 3. Prof. Hubener
D 4. George Soros
A 1. Children
B 2. Spouse
C 3. Parents-in-law
D 4. Maternal uncle
QUE. 5. Which of these statements is correct?
1. The policy document has to be signed by a competent authority but need not
A
the Indian Stamp Act
2. The policy document has to be signed by a competent authority and should be
B
Indian Stamp Act
C 3. The Policy document need not be signed but should be stamped according to
4. The policy document need not be signed by a competent authority nor be stam
D
Indian Stamp Act
A 1. Pen
B 2. Car
C 3. Insurance
D 4. Soap
C 3. First three years risk is borne by the insured and the insurer
D 4. None of these
QUE.
8.
Which of the following is not an underwriting de
B 2. Declinature of risk
C 3. Postponement of risk
D 4. Claim rejection
B 2. Property
C 3. Bribe
D 4. Jewellery
C 3. Lower yields
D 4. Secure investment
QUE. 12. Which of the below action showcases the principle of “Ub
A 1. Bank FD
B 2. Insurance
C 3. Equity shares
D 4. Real estate
QUE. 14. What is the limitation of traditional plan?
A 1. Lower Yield
B 2. Higher Yield
C 3. Sum Assured
D 4. Death Benefit
A 1. Standard lives
B 2. Preferred risks
C 3. Sub-standard lives
D 4. Declined lives
A 1. Application form
B 2. Proposal form
C 3. Registration form
D 4. Subscription form
A 1. Savings
B 2. Investments
C 3. Insurance
D 4. Risk mitigation
A 1. Ration card
B 2. Passport
C 3. Voter ID
D 4. Court Affidavit
C 3. To Pay Liablity
D 4. To Pay Debt
A 1. A claim is a request that the insurer should make good the promise specified
B 2. A claim is a demand that the insurer should make good the promise specified
3. A claim is a demand that the insured should make good the commitme
C
agreement
D 4. A claim is a request that the insured should make good the promise specified
A 1. Personal Loss
B 2. Business loss
C 3. Liability loss
B 2. Participating Policy
C 3. Non Participating
A 1. Ram
B 2. Family
C 3. Insurance agent
D 4. Insurance Company
If a Health Insurance policyholder takes treatment in a non-netw
QUE. 25.
will he be reimbursed
A 1. Settle the hospital bill himself and get it reimbursed later by the Insurance com
D 4. None
QUE. 27. Harish is a rickshaw- puller. What kind of occupational hazard do
A 1. Health Hazard
B 2. Accident Hazard
C 3. Moral Hazard
D 4. Lifestyle Hazard
B 2. Capacity to contract
C 3. Consideration
D 4. Consensus Id idem
A 1. Premium
B 2. Agreement
C 3. Claim
D 4. Proposal
B 2. Proposal quote
C 3. Information docket
D 4. Prospectus
D 4. Surrender value
A 1. Insurer
B 2. Insured
C 3. State
D 4. IRDA
QUE. 34. Who among the following is most likely to buy a variable
QUE. 36. Which of the below party is not eligible to enter into a life ins
A 1. Business owner
B 2. Minor
C 3. House wife
D 4. Government employee
A 1. Excessive liabilities
B 2. Excessive turnover
A 1. Dental Treatment
B 2. Surgery
C 3. Heart transplant
D 4. Limb transplant
C 3. Tax evasion
A 1. Bank Loans
B 2. Shares
3. The policy will be declared as void and the insurer will be asked to return the
C
the insured
4. The policy will be declared as void and the insurer will be asked to return the
D
without any interest
If a person has got cataract surgery from a day care centre, for ho
QUE. 46.
stay at the hospital?
A 1. One hour
B 2. One week
C 3. Five days
D 4. One day
QUE. 47. Identify which of the below statement is correc
in insurance means
is a intangable product?
the insurer
ce proposal form
proposal form
t is MRI?
consist of those whose anticipated mortality
es represented by the mortality table
is taken to compensate
urity Claim—Sum Assured plus accumulated
the correct option -
orrect statement
of loss or damage
occupational hazard does he face in his life?
equity
cause he is insured
1
ments
orrect statement
by the buyer
licy stamp
mortality
mortality
LIC VASANTHAM
TALLAKULAM BRANCH MADURAI - 625002
INSTRUCTIONS
The candidates who pass in this test are not request to join as LIC A
9
The candidates are provided with a back up sheet by the Test Administrato
be used in case there is a power failure or the computer shuts down due to
technical reason. The back-up sheet must be handed over to the Test Admi
once the examination is over. The candidates would be compensated for an
due to power or system failure subject to the direction of the Test Aministra
10
The candidates may ask the Test Administrator their doubts or questions o
the commencement of the test. No query shall be entertained after the com
of the examination.
11 The candidates are requested to follow the instructions of the “Test Admin
carefully.
12
If any candidate does not follow the Instructions/rules, it would be treated
misconduct/adoption of unfair means and such candidate would be liable f
debarment from appearing at the examinations for a period as decided by
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