axondendriteplus/IC38-Corporate-Agent-Questions huggingface dataset:
Category: Life
Question: Michael wants to make sure that life insurance proceeds are available to pay his outstanding mortgage balance if he dies. He purchased a type of life insurance in which the amount of coverage gradually declines, just as his outstanding mortgage balance gradually declines. Tell us what this type of insurance has Micheal bought. 
1. Decreasing benefit insurance
2. Decreasing rider benefit
3. Decreasing term insurance
4. Re-entry term insurance
Answer: option 3
Category: Life
Question: As per IRDA norms, an insurance company can provide which of the below non-traditional savings life insurance products in India? Choice I: Unit Linked Insurance Plans Choice II: Variable Insurance Plans
1. I only
2. II only
3. Both: I and II
4. Neither: I nor II
Answer: option 1
Category: Life
Question: Ramesh has decided to maximise his ULIP premium through a Equity Fund. Where will the insurance company invest his premiums?
1. Stocks
2. Government or corporate debt
3. Both in Equity related instruments as well as Government or Corporate debt
4. Commercial paper or Treasury bills
Answer: option 1
Category: Life
Question: What does the NAV imply in case of ULIP's
1. Total Net worth of the insurer
2. Assets of the insurer
3. Market value of the assets in which the fund is invested
4. Liability of the insurer
Answer: option 3
Category: Life
Question: Carl would like to purchase life insurance. He would also like to invest in a mutual fund. An agent told Carl about a form of life insurance in which Carl could select where the saving component is invested. This form of life insurance has fixed risk premiums and the saving policies is invested. Which type of insurance is the agent referring to?
1. Endowment life insurance
2. ULIP
3. Whole life
4. Term insurance
Answer: option 2
Category: Life
Question: What was the Primary Argument, behind "Buy Term Assurance and Invest the Difference, Else-Where"? Choose the Most Appropriate Option. 
1. Term Assurance is the Best Form of Life Assurance. 
2. Investing the Balance Premiums, in Other Investment-Instruments, could yield a Higher Return. 
3. The Policy-Holder can take the Higher Risks, by investing the Balance Premium in the Equities. 
4. Non-Term Assurance has the Lowest Yields. 
Answer: option 2
Category: Life
Question: Which Section of the MWP Act provides for security of benefits under a life insurance policy to the wife and children. 
1. Section 38
2. Section 39
3. Section 6
4. Section 45
Answer: option 3
Category: Life
Question: Identify the benefits of taking out a keyman insurance policy. 
1. Offset business start-up costs
2. Offset business continuity costs
3. Offset business recovery costs
4. Promote worker harmony
Answer: option 2
Category: Life
Question: Select the loss covered under keyman insurance. 
1. Property theft
2. Losses related to the extended period when a key person is unable to work
3. Losses caused due to errors and omission
4. General liability
Answer: option 2
Category: Life
Question: Illustrate a general requirement for granting keyman insurance. 
1. Company must be loss making
2. Company must be profitable
3. Company must be in business for less than 6 months
4. Company must be in business for less than 1 year
Answer: option 2
Category: Life
Question: Who is paid the claim money for a policy effected under Section 6 of the Married Women Property Act?
1. Appointee
2. Trustee
3. Nominee
4. Assignee
Answer: option 2
Category: Life
Question: Explain to us why young people are charged less life insurance premium when compared to old people. 
1. Young people don't need life insurance as much as old people
2. Young people cannot afford to buy costly life insurance products due to their low income
3. Mortality is directly proportional to age
4. Mortality is inversely proportional to age
Answer: option 4
Category: Life
Question: What does valuation in life insurance mean?
1. The process of arriving at the profit of a life insurance company
2. The process of determining the net premium for a life insurance policy
3. The process of arriving at the bonus in a life insurance company
4. The process by which the value of all the existing policies is ascertained in a life insurance company
Answer: option 4
Category: Life
Question: In case of __________, a company expresses the bonus as a percentage of basic benefit and already attached bonuses. 
1. Reversionary bonus
2. Compound bonus
3. Terminal bonus
4. Persistency bonus
Answer: option 2
Category: Life
Question: Name the two policy features on which rebates on premium can be offered by the insurer. 
1. Policy plan and risk cover
2. Policy plan and mode of premiums
3. Sum assured and mode of premiums
4. Sum assured and policy plan
Answer: option 3
Category: Life
Question: Illustrate the effect of interest rates on the premium assumed by insurance companies. 
1. Lower the interest rate assumed, lower the premium
2. Higher the interest rate assumed, higher the premium
3. Higher the interest rate assumed, lower the premium
4. The interest rates don’t affect premiums
Answer: option 3
Category: Life
Question: Explain what does the grace period clause provide for in life insurance policies. 
1. Insured does not have to pay premiums during that period
2. Insured has to pay only half the premium amount
3. Insured has some additional time to pay the premium even after due date
4. It extends the free look period by 30 days
Answer: option 3
Category: Life
Question: For an insurance policy nomination is allowed under _________ of the Insurance Act. 
1. Section 10
2. Section 38
3. Section 39
4. Section 45
Answer: option 3
Category: Life
Question: Construct a situation that would require evidence of insurability at revival. 
1. It has been a week since the policy has lapsed
2. Policy has been lapsed for more than a year
3. Policy has been in force for a year
4. Loan against policy has been sought
Answer: option 2
Category: Life
Question: Select the correct statement with regards to grace period. Choose the most appropriate option
1. The standard length of the grace period is one month. 
2. The standard length of the grace period is one quarter
3. The standard length of the grace period is one week
4. The standard length of the grace period is one fortnight
Answer: option 1
Category: Life
Question: Examine the two statements below and select the one(s) that is are true. I: Life assured can appoint more than one person as nominees II: Assignment can be done only after the commencement of the policy
1. I only
2. II only
3. I and II
4. Neither I nor II
Answer: option 3
Category: Life
Question: As per IRDAI Product Regulations, a Non-Linked Policy can be revived within ______years from the date of unpaid premium
1. Two Years
2. Three years
3. Four Years
4. Five Years
Answer: option 4
Category: Life
Question: __________ is the process by which a life insurance company puts back into force a policy that has either been terminated because of non-payment of premiums or has been continued under one of the non-forfeiture provisions. 
1. Reinstatement
2. Revival
3. Surrender
4. Lapse
Answer: option 1
Category: Life
Question: Which of the below statement is correct with regards to 'anti selection'?
1. Anti selection is the process used by the insurance company to ensure it does not end up selecting unethical agents
2. Anti selection is the tendency of people, who suspect or know that their chance of experiencing a loss is high, to seek out insurance eagerly and to gain in the process. 
3. Anti selection is the process used by the insurance company to ensure it does not end up launching insurance products that are not suitable for the prospective policyholders
4. Anti selection is the process used by the insurance company to ensure it does not end up selecting wrong investment products for deploying premiums collected from the policyholders. 
Answer: option 2
Category: Life
Question: Which of the following statement is incorrect with regards to judgment method of underwriting?
1. Under this method subjective judgment is used
2. This method is especially used in case of complex cases
3. In this method the company may seek expert opinion of medical doctor
4. In this method the underwriter assign positive or negative rating points to adverse factors
Answer: option 4
Category: Life
Question: _____________ means that applicants who are exposed to similar degrees of risk must be placed in the same premium class. 
1. Selection of risk
2. Anti-selection
3. Moral hazard
4. Equity among the risks
Answer: option 4
Category: Life
Question: Which of the below statement is correct with regards to 'sub-standard lives' under risk classification? Choose the most appropriate option. 
1. Substandard lives consist of those individuals whose anticipated mortality corresponds to the standard lives represented by the mortality table. 
2. Substandard lives consist of those individuals whose anticipated mortality is significantly lower than standard lives and hence could be charged a lower premium. 
3. Substandard lives consist of those individuals whose anticipated mortality is higher than the average or standard lives, but are still considered to be insurable. 
4. Substandard lives consist of those individuals whose impairments and anticipated extra mortality are so great that they could not be provided insurance coverage at an affordable cost
Answer: option 3
Category: Life
Question: Which of the following statement is correct with regards to 'declined lives' under risk classification?
1. Declined lives consist of those individuals whose anticipated mortality corresponds to the standard lives represented by the mortality table. 
2. Declined lives consist of those individuals whose impairments and anticipated extra mortality are so great that they could not be provided insurance coverage at an affordable cost
3. Declined lives consist of those individuals whose anticipated mortality is higher than the average or standard lives, but are still considered to be insurable. 
4. Declined lives consist of those individuals whose anticipated mortality is significantly lower than standard lives and hence could be charged a lower premium. 
Answer: option 2
Category: Life
Question: The term______ refers to the process of evaluating each proposal for life insurance in terms of the degree of risk it represents and then deciding whether or not to grant insurance and on what terms
1. Reinsurance
2. Risk Management
3. Underwriting
4. Claims Management
Answer: option 3
Category: Life
Question: What is the role of an agent in ensuring the accuracy of information provided in a proposal form
1. The agent only provides general information and has no responsibility in verifying the accuracy of the information
2. The agent is responsible for verifying the information provided in the proposal form
3. The agent has no role to play in ensuring the accuracy of the information
4. The agent only assists in filling out the proposal form and has no responsibility in verifying the accuracy of the information
Answer: option 2
Category: Life
Question: Which of the following is the most common way of dealing with sub-standard risks
1. Rejecting the risk
2. Accepting the risk with a discount
3. Accepting the risk without any extra charges
4. Acceptance with an extra
Answer: option 4
Category: Life
Question: Which of the following scenarios might result in a life insurance underwriter declining a proposal for insurance
1. Mr. X who has a minor cold at the time of application
2. Mr. Y who has a family history of heart disease
3. Mr. Z who has had cancer and has little chance of remission
4. Mr. T who has had a recent cataract surgery
Answer: option 3
Category: Life
Question: Which of the Statements is Correct
1. Minors can enter into contracts freely without any legal obligations
2. A proposal on the life of a minor has to be submitted by another person who is related to the minor in the capacity of a parent or legal guardian. 
3. Minors have the same contracting power as adults
4. Minors can enter into life insurance contracts
Answer: option 2
Category: Life
Question: What is the significance of a person's blood pressure as an indicator of disease
1. It can indicate malfunctioning of the urinary system
2. It can indicate impairment of the endocrine system
3. High blood pressure can have serious health consequences
4. It does not indicate any disease
Answer: option 3
Category: Life
Question: A life insurance company paid the treatment costs to insured during the event of hospitalisation of the insured during the policy term. This is an example of ________________. 
1. Survival benefit payments
2. Surrender value
3. Rider benefit
4. Conditional assignment
Answer: option 3
Category: Life
Question: Which of the below death claim will be treated as a non- early death claim by the insurance company?
1. If the insured dies within one year of policy tenure
2. If the insured dies within two years of policy tenure
3. If the insured dies within three years of policy tenure
4. If the insured dies after five years of policy tenure
Answer: option 3
Category: Life
Question: There are various events which can trigger survival claims. Identify which of the below statement is incorrect with respect to the events which can trigger survival claims?
1. An instalment payable upon reaching the milestone under a money-back policy
2. Critical illnesses covered under the policy as a rider benefit
3. Surrender of the policy by the assignee
4. Maturity of a term insurance plan
Answer: option 4
Category: Life
Question: Identify the event which can trigger the event of surrender value payment by the insurance company?
1. The event will be triggered on the accidental death of life insured within policy term
2. The event will be triggered when an instalment becomes payable upon reaching a certain milestone
3. The event will be triggered when the policyholder decides to cancel the contract
4. The event will be triggered on maturity of the policy
Answer: option 3
Category: Life
Question: The claim form consists of which of the following? I. Details of the proposer and the policy number under which the claim is made II. Details of the patient III. Reason for the claim – for which the hospitalization was done and the cause of illness IV. Period of hospitalization
1. I, II and IV
2. II, III and IV
3. I, III and IV
4. I, II, III and IV
Answer: option 4
Category: Life
Question: Which of the following is a specified event where a claim is paid to the insured?
1. Ramesh loses his job and cannot pay his premiums
2. Ramesh decides to cancel his policy before the maturity period
3. Ramesh's policy reaches the maturity period
4. Ramesh decides to take a loan against his policy
Answer: option 3
Category: Life
Question: Ajit's wife has passed away, and he needs to submit the required forms for a death claim. Which of the following documents will he need to submit in addition to the claim form
1. Marriage certificate
2. Death certificate issued by municipal authorities
3. Passport copy
4. Driving Licence
Answer: option 2
Category: Life
Question: Which of the following options best illustrates the role of an agent as described in the given passage
1. Mr. Ramesh's agent only provided him with the necessary claim forms and did not assist him in submitting them at the insurer's office
2. Mr. Suresh's agent refused to help him with the claim forms since he had not procured any business from Mr. Suresh's family before
3. Mr. Ganesh's agent helped him in accurately filling up the claim forms and assisted him in submitting them at the insurer's office, thereby generating goodwill and future business opportunities
4. Mr. Nilesh's agent helped him fill up the claim forms but did not assist him in submitting them at the insurer's office
Answer: option 3
Category: Life
Question: All the statements given below related to Employees’ State Insurance Scheme are true EXCEPT:
1. This scheme was introduced for central government employees and provides comprehensive health services through a network of its own dispensaries and hospitals
2. ESIC (Employees State Insurance Corporation) is the implementing agency
3. All workers earning wages up to Rs. 15, 000 are covered under the contributory scheme
4. Employee and employer contribute 1. 75% and 4. 75% of pay roll respectively; state governments contribute 12. 5% of the medical expenses
Answer: option 1
Category: Life
Question: All the statements given below related to Central Government Health Scheme are true EXCEPT:
1. The Central Government Health Scheme (CGHS), which was introduced in 1954
2. The CGHS is only for the central government employees including pensioner and their family member working in civilian jobs
3. It aims to provide comprehensive medical care to employees and their families and is fully funded by the employer (central government)
4. The services are provided through CGHS’s own dispensaries, polyclinics and empanelled private hospitals. 
Answer: option 3
Category: Life
Question: All the options given below are lifestyle factors that determine the health of any individual EXCEPT:
1. Exercising
2. Eating within limits
3. Safe drinking water
4. Avoiding worry
Answer: option 3
Category: Life
Question: Which of the following is an example of communicable disease caused due to environmental factors like bad hygiene?
1. Influenza
2. Malaria
3. Dengue
4. Asbestosis
Answer: option 1
Category: Life
Question: Which of the following is an example of communicable disease caused due to environmental factors like bad hygiene?
1. Chickenpox
2. Malaria
3. Dengue
4. Asbestosis
Answer: option 1
Category: Life
Question: Which of the following factors are mostly in the control of an individual for maintaining good health
1. Social factors
2. Genetic factors
3. Environmental factors
4. Lifestyle factors
Answer: option 4
Category: Life
Question: Which diseases are spread due to bad hygiene and environmental sanitation
1. Cancer and AIDS
2. Hypertension and diabetes
3. Influenza and chickenpox
4. None of the above
Answer: option 3
Category: Life
Question: Does a country's social and economic progress depend on the health of its people
1. No, there is no relationship between the two
2. Yes, there is a direct relationship between the two
3. The relationship is indirect
4. The relationship is uncertain
Answer: option 2
Category: Life
Question: What is the main aim of healthcare services
1. To create more jobs for healthcare providers
2. To promote, maintain, monitor or restore health of people
3. To make healthcare facilities expensive
4. To make healthcare services difficult to access
Answer: option 2
Category: Life
Question: Which of the following statements is true regarding the setting up of healthcare facilities
1. Healthcare facilities should be based on the probability of the incidence of more severe illnesses like Hepatitis B
2. Healthcare facilities should be based on the frequency of less severe illnesses like cold and cough
3. Healthcare facilities should be based on the availability of nearest railway station
4. Healthcare facilities should be based on the investment capacity of healthcare providers
Answer: option 1
Category: Life
Question: Which of the following statements is true regarding secondary healthcare services
1. They are provided by primary care physicians
2. They are only available to inpatients
3. They are the first point of contact for patients within a health system
4. They include ambulance facilities and diagnostic services
Answer: option 4
Category: Life
Question: Which healthcare provider would Mr. Sagar most likely visit first if he is feeling sick
1. A specialist at a hospital
2. A primary healthcare provider
3. A dentist
4. A pharmacist
Answer: option 2
Category: Life
Question: Which of the following defines primary healthcare
1. Healthcare services provided by doctors, nurses and small clinics
2. Healthcare services provided by medical specialists
3. Specialized consultative healthcare
4. Ambulance services and pathology services
Answer: option 1
Category: Life
Question: Which health insurance scheme aims to provide comprehensive medical care to central government employees and their families
1. Central Government Health Scheme
2. Employees’ State Insurance Scheme
3. Commercial Health Insurance
4. None of the above
Answer: option 1
Category: Life
Question: Which section of the Income Tax Act allows individuals to deduct premiums paid towards Health Insurance from taxable income
1. Section 80 B
2. Section 80 C
3. Section 80 E
4. Section 80 D
Answer: option 4
Category: Life
Question: Which type of health insurance policy is allowed to be deducted from taxable income under Section 80 D of the Income Tax Act
1. Any health insurance policy
2. Only policies provided by the Government
3. Only policies provided by life insurers
4. Only policies provided by non-life insurers
Answer: option 1
Category: Life
Question: Which of the following statements is true about the development of health insurance in India
1. The first standardised health insurance product for individuals and their families in India was introduced in 2001 by private players in the insurance sector
2. The Central Government Health Scheme (CGHS) was introduced for blue-collar workers employed in the formal private sector
3. Employees’ State Insurance Scheme (ESIS) provides comprehensive health services through a network of its own dispensaries and hospitals for blue- collar workers employed in the formal private sector
4. Health insurance in India began with the introduction of commercial health insurance by non-life insurers in 1986
Answer: option 3
Category: Life
Question: Which of the following is not a type of private health care provider in India
1. Solo practitioners
2. Diagnostic laboratories
3. Corporate hospitals
4. Government clinics
Answer: option 4
Category: Life
Question: The following intermediary facilitates carrying out of pre-insurance medical examinations in connection with underwriting of the health insurance policies
1. Insurance Broker
2. Third Party Administrator
3. Surveyor and Loss Assessor
4. Reinsurance Broker
Answer: option 2
Category: Life
Question: Identify the true statement I. Critical illness policies are usually available for persons in the age group of 21 years to 65 years. II. The sum insured offered under these policies is quite low. 
1. Only I is true
2. Only II is true
3. Both I and II are true
4. Both I and II are false
Answer: option 1
Category: Life
Question: Which of the following is an example of package policy? I. Health plus life combi product II. Shopkeepers policy III. Householder's policy
1. Only I
2. I and II
3. II and III
4. I, II and III
Answer: option 3
Category: Life
Question: What is the free look in period for health insurance policies
1. 15 days
2. 20 days
3. 30 days
4. 45 days
Answer: option 1
Category: Life
Question: A Life Assurance Company paid the Treatment Costs to the Insured, During the Event of Hospitalisation of the Insured, During the Policy-Term. This is an Example of --. 
1. Survival-Benefit Payments
2. Surrender-Value
3. Rider-Benefit
4. Conditional Assignment
Answer: option 3
Category: Life
Question: Ms. Kavita purchases a Critical Illness (C. I. ) Rider, along with, a Term Assurance Plan, from ABC Insurance Company. How Will, the Company ascertain the Claim for the Critical Illness (C. I. ) Rider? Choose the Most Appropriate Option. 
1. Claim will be ascertained, as per the Conditions, stipulated in the Policy. 
2. Claim will be ascertained, based on the Dates, which are determined, at the Beginning of the Contract, it-self. 
3. Claim will occur, when the Policy-Holder decides to cancel the Contract. 
4. Claims will be ascertained, based on the Medical and Other Records, provided by the Policy-Holder, in Support of Her Claim. 
Answer: option 4
Category: Life
Question: What type of information is included in the medical questionnaire required in case of adverse medical history in the proposal form
1. PAN Number
2. Personal bank details
3. Detailed information on diseases such as Diabetes, Hypertension, Chest pain or Coronary Insufficiency or Myocardial Infarction
4. Details of any other insurance with other insurer
Answer: option 3