axondendriteplus/IC38-Corporate-Agent-Questions huggingface dataset:
Category: Life
Question: Mr. Vimal is a 32-Years' Old, Healthy, Non-Smoker, Teetotaller Individual; Who applies for Life Assurance from ABC Limited Insurance Company. Which One of the Following Statements, will Hold True, with Regard to Risk-Acceptance by the Insurance Company?
1. Risk will be Accepted at Ordinary Rates. 
2. Risk will be Accepted With an Extra, Over the Tabular Rate of Premium. 
3. Risk will be Accepted, With a Lien on Sum- Assured. 
4. Risk will be Accepted, With a Restrictive Clause. 
Answer: option 1
Category: Life
Question: If, Mr. Brijesh, a 40-Years' Old Individual, is perceived as a 'Sub-Standard Risk', by the Insurance Company, then, Which One of the Following Statements, will Hold True, with Regard to Risk-Acceptance by the Insurance Company?
1. Risk will be Accepted at Ordinary Rates. 
2. Risk will be Accepted at Lower Rates. 
3. Risk will be Accepted With an Extra, Over the Tabular Rate of Premium. 
4. Risk will be Declined. 
Answer: option 3
Category: Life
Question: What is meant by 'Risk-Classification'? Choose the Most Appropriate Option. 
1. The Process, in which, Individual Lives are Categorised and Assigned to Different Risk-Classes, Depending on the Degree of Risks, they Pose. 
2. The Tendency of People, Who suspect or know that, their Chance of Experiencing a Loss is High, to seek-out the Insurance, Eagerly; and to gain in the Process. 
3. The Process of Evaluating Each Proposal for Life- Assurance in Terms of the Degree of Risk, it represents; and then Deciding: Whether or Not to Grant the Insurance, and on What Terms. 
4. The Process, in which, the Applicants, Who are Exposed to Similar Degrees of Risk, are Placed in the Same Premium- Class. 
Answer: option 1
Category: Life
Question: Mr. Nimesh bought a 20-Years' Unit-Linked Insurance Plan (U. L. I. P. ). In the Event: Mr. Nimesh dies, Within the Policy-Term, Which of the Following, will be paid?
1. Surrender-Value will be paid. 
2. Premiums paid will be Returned, After Deducting the Dues. 
3. Lower of Sum-Assured or Fund-Value, will be paid. 
4. Higher of Sum-Assured or Fund-Value, will be paid. 
Answer: option 4
Category: Life
Question: In Case of Presumption of Death of Life-Assured, Which One of the Following Documents, needs to be submitted, by the Nominee?
1. Death-Certificate from Municipal Corporation. 
2. Decree from a Competent Court. 
3. Employer's Certificate
4. Inquest-Report
Answer: option 2
Category: Life
Question: Mr. Brijesh purchased a 20-Years' Unit-Linked Insurance- Plan (U. L. I. P. ), from ABC Insurance Company. If Mr. Brijesh Dies, Before the Maturity of the Policy, then Insurance Company will have to pay --. 
1. Surrender-Value
2. Premiums, After Deducting the Dues. 
3. Lower of Sum-Assured or Fund-Value. 
4. Higher of Sum-Assured or Fund-Value. 
Answer: option 4
Category: Life
Question: Which One of the Following Claims, can be Payable, Only to the Assignee or Nominee?
1. Death-Claim
2. Maturity-Claim
3. Survival-Benefit
4. Surrender-Value
Answer: option 1
Category: Life
Question: Which One of the Following Documents, needs to be submitted, by the Nominee, in the Event of Natural Death of the Life-Assured? Choose the Most Appropriate Option. 
1. Inquest Report
2. Death-Certificate
3. Post-Mortem Report
4. First Information Report (F. I. R. )
Answer: option 2
Category: Life
Question: On payment of claim, the life insurance policy-
1. Can be reinstated on payment of pro-rata premium
2. Stands cancelled
3. Automatically terminates
4. Continues till the end of the policy period
Answer: option 3
Category: Life
Question: On payment of claim, the individual fidelity guarantee policy-
1. Can be reinstated on payment of pro-rata premium
2. Stands cancelled
3. Automatically terminates
4. Continues till the end of the policy period
Answer: option 3
Category: Life
Question: Arbitrators appoint ________________who presides the meeting. 
1. A President
2. A Chairman
3. An Umpire
4. A Judge
Answer: option 3
Category: Life
Question: Dispute relating to question of liability are to be settled through __________________. 
1. Arbitration
2. Communication
3. Litigation
4. Understanding
Answer: option 3
Category: Life
Question: You are an insurance agent. Mr. Mahesh has approached you as a customer to buy some insurance. You hear from friends that Mr. Mahesh is involved in sale of pirated goods and all the resultant cash is invested in buying life insurance. What should you do?
1. Concentrate on completing the sale and securing commission
2. Report suspicious transaction along with all the information you have about Mr. Mahesh
3. Blackmail Mr. Mahesh and try to get some monetary benefits out of him
4. Keep mum about the transaction
Answer: option 2
Category: Life
Question: Important information that a prospectus discloses includes: I. Any incentives to reward policyholders for early entry II. Any incentives to reward policyholders for continued renewals III. Any incentives to reward policyholders for favourable claims experience
1. Only I
2. I and II
3. II and III
4. I, II and III
Answer: option 1
Category: Life
Question: 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?
1. In Favour of the Insured. 
2. In Favour of the Insurer. 
3. The Policy will be declared as Void, and the Insurer will be asked to Return the Premium, With Interest, to the Insured. 
4. The Policy will be declared as Void, and the Insurer will be asked to Return the Premium, to the Insured, Without Any Interest. 
Answer: option 1
Category: Life
Question: Which of the Following, isNota Part of a Standard Policy- Document?
1. Policy Schedule
2. Standard Provisions
3. Policy-Specific Provisions
4. Policy Forfeiture Provisions
Answer: option 4
Category: Life
Question: Gives us, an Example of a Standard Policy-Provision. 
1. A Clause, Precluding the Death Due to Pregnancy, for a Lady, Who is Expecting at the Time of Writing the Contract. 
2. Suicide Clause
3. A Clause, Precluding Certain Illnesses. 
4. A Clause, Granting Certain Privileges to the Policy-Holder. 
Answer: option 2
Category: Life
Question: Which of the below statement/statements is/are true with regard to a proposal form? A) The proposal form can be filled in by the proposer in written or electronic format. B) The proposal form contains the details of imsurance cover, warranties, terms and conditions. C) The insurer can decide whether to accept or reject the proposal for insurance based on the information in proposal form. 
1. A & B
2. A & C
3. Only C
4. All of them
Answer: option 2
Category: Life
Question: Declaration of the proposer in the proposal form converts _____________________________of Utmost Good Faith to __________________________ of Utmost Good Faith. 
1. Legal Duty, Common Law Principle
2. Contractual Duty, Common Law Principle
3. Common Law Principle, Contractual Duty
4. Common Law Principle, Legal Duty
Answer: option 3
Category: Life
Question: Which of the following is not a contributor towards Customer Lifetime value
1. Historical
2. Present
3. Potential
4. Speculated
Answer: option 4
Category: Life
Question: Which of the following is NOT an example of non verbal communication?
1. Signaling okay with a hand gesture
2. Gesturing in an empty room
3. Wearing jewelry
4. Raising your voice
Answer: option 2
Category: Life
Question: The ability to perform the promised service dependably and accurately, can be termed as _________
1. Tangible
2. Reliability
3. Assurance
4. Responsiveness
Answer: option 2
Category: Life
Question: The knowledge, competence and courtesy of service providers and their ability to convey trust and confidence, can be termed as _________
1. Reliability
2. Assurance
3. Responsiveness
4. Tangible
Answer: option 2
Category: Life
Question: Select the Correct Statement, with Regard to Grace- Period. Choose the Most Appropriate Option. 
1. The Standard Length of the Grace-Period is 1 Month or 31 Days. 
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 Fort-Night. 
Answer: option 1
Category: Life
Question: Potential Value means-
1. The value of premiums that is arrived at by persuading the customer to buy additional products
2. Future premiums that may be expected to be received if existing business is retained
3. The value of premiums that could be derived by persuading the customer to buy additional products
4. Future premiums that is expected to be received if existing business is retained
Answer: option 3
Category: Life
Question: Elements of Trust are A) Communication, B) Attraction, C) Belief, D) Presence
1. A & B
2. A, B & C
3. A, C & D
4. A, B & D
Answer: option 4
Category: Life
Question: ____________ is the most important step in sales process. 
1. Interview
2. Prospecting
3. Handling objections
4. Closing the sale
Answer: option 2
Category: Life
Question: An agent need not recommend insurance in certain situations. One of the situation can be-
1. Where the prospect is interested in reducing the cost of handling the risk. 
2. When the risk involved is non-insurable. 
3. Where the risk involved can be managed by means other than insurance. 
4. All of the above
Answer: option 3
Category: Life
Question: When is a cover note issued to proposer?
1. When the underwriting process is complete and policy is issued
2. When the negotiations for insurance are in progress and policy document is prepared
3. When the underwriting process is complete and policy not is issued
4. When the negotiations for insurance are in progress and policy document is issued
Answer: option 3
Category: Life
Question: During which period, insurance policy can be returned and refund of premium obtained?
1. Coverage period
2. Free Look Period
3. Waiting Period
4. Grace Period
Answer: option 2
Category: Life
Question: If the policy is being purchased electronically, it is agent's duty to-
1. Help the customer to open e-Insutance Account through registered insurance repository
2. Help the customer to register for e- Insurance Policy with OTP through registered insurance repository
3. Help the customer to open e-vault for Insurance Policy through registered insurance repository
4. Help the customer to generate e- Insurance Policy through registered insurance repository
Answer: option 1
Category: Life
Question: The customer has choice to continue with same insurer or to switch to another insurance company in following kind of policies:
1. Term Insurance Policy
2. Motor Third Party Policy
3. Endowment Policy
4. Unit Linked Insurance Policy
Answer: option 2
Category: Life
Question: Consumer protection Act. comprises of_________ quasi- judicial machinery
1. One-tier
2. Three-tier
3. Two-tier
4. Four-tier
Answer: option 2
Category: Life
Question: Which of the following statement is incorrect with regard to process of filing a complaint with a Consumer Court?
1. No one else other than the complainant himself / herself can file a complaint with the State or National Commission
2. There is no fee for filing a complaint with State Commission or National Commission
3. The complaint can be filed personally or can even be sent by post
4. No advocate is necessary for the purpose of filing a complaint
Answer: option 1
Category: Life
Question: If a policyholder wishes to file a complaint against any insurance company directly with State Commission, then in which of the following cases can he / she do so?
1. Where the value of goods/services and compensation claimed is up to Rs 20 lakh
2. Where the value of goods/services and compensation claimed exceeds Rs. 20 lakh but does not exceed Rs. 100 lakh. 
3. Where the value of goods/services and compensation claimed exceeds Rs. 100 lakh. 
4. Where the value of goods/services and compensation claimed exceeds Rs. 10 crores
Answer: option 2
Category: Life
Question: Which of the following statement is incorrect with regard to the State Commission?
1. This redressal authority has original, appellate and supervisory jurisdiction
2. It entertains appeals from the National Commission
3. It has original jurisdiction to entertain complaints where the value of goods/service and compensation, if any claimed exceeds Rs. 1Crore but does not exceed Rs. 10 Crore
4. No fees is charged to file a complaint with state commission
Answer: option 2
Category: Life
Question: Which of the following rules is incorrect with regards to the Award that can be passed by the Ombudsman?
1. The Award should be more than Rs. 50 lakh
2. The Award should be made within a period of 3 months from the date of receipt of complaint
3. The insurer shall comply with the Award and send a written intimation to the Ombudsman within 15 days of the receipt of such acceptance letter
4. If the insured does not intimate in writing the acceptance of such Award, the insurer may not implement the Award
Answer: option 1
Category: Life
Question: No one else in the insurance company has _____________ the client's problems as much as an agent does. 
1. ownership of
2. responsibility towards
3. duty towards
4. role in resolving
Answer: option 1
Category: Life
Question: In case where the complaint of a customer is not satisfatorily resolved, the complaint may be raised with-
1. Insurance Grievance Redressal Mechanism
2. Grievance Redressal Officer
3. Consumer Complaints Registration System
4. Integrated Grievance Management System
Answer: option 4
Category: Life
Question: IGMS stands for-
1. Insurance Grievance Management System
2. Integrated Grievance Management System
3. IRDAI Grievance Management System
4. Initial Grievance Management System
Answer: option 2
Category: Life
Question: Defect means-
1. Imperfection in the quality of product / service
2. deficiency in the nature of product / service
3. inadequacy in the manner of performance of the product
4. All of the above
Answer: option 4
Category: Life
Question: Consumer dispute redressal agencies are not established at-
1. National level
2. District level
3. City level
4. State level
Answer: option 3
Category: Life
Question: District Commission has the powers of ________________. 
1. High Court
2. Supreme Court of India
3. Small Causes Court
4. Civil Court
Answer: option 4
Category: Life
Question: Appeals against orders passed by State Consumer Disputes Redressal Commission are accepted for hearing at ______________. 
1. High Court
2. State Commission
3. Civil Court
4. National Commission
Answer: option 4
Category: Life
Question: Which Consumer dispute redressal agency is established by the Central Government?
1. State Commission
2. National Commission
3. District Commission
4. Both District & State Commission
Answer: option 2
Category: Life
Question: A complaint can be filed with the Consumer Dispute Redressal Agencies by-
1. The advocate
2. The agent authorised by the consumer
3. The Consumer or his authorised agent
4. Only the consumer
Answer: option 3
Category: Life
Question: The Ombudsman passes an award to insured within _________ from the date of receipt of all the requirements from the insured and insurer. 
1. 2 months
2. 15 days
3. 3 months
4. 1 month
Answer: option 3
Category: Life
Question: Corporates agents are regulated by _______________. 
1. Ministry of Corporate Affairs (MCA)
2. IRDAI
3. Government of India
4. SEBI
Answer: option 2
Category: Life
Question: Mukesh is the priciple officer of XYZ corporate agent. He is a fellow of CII, London. How may hours of theoretical & practicle training does he require
1. 25 hours
2. 50 hours
3. 60 hours
4. 75 hours
Answer: option 1
Category: Life
Question: According to new Corporate Agent Regulation an Applicant means
1. A company formed under the Companies Act 2013
2. A Co-operative Society registered under Co-operative Societies Act, l9l2
3. A limited liability partnership formed and registered under the Limited Liability Partnership Act, 2008
4. Any of the above
Answer: option 4
Category: Life
Question: The telemarketer of a Corporate Agent shall disclose to the prospective customer
1. The Name & Registration number of Corporate Agent. 
2. Contact number of the telemarketer and- /or corporate agent. 
3. Name and identification number of the person making the tele-call. 
4. All of the above. 
Answer: option 4
Category: Life
Question: Compare the probability of a contingent event with regards to life and general insurance. 
1. The probability of the event happening stays constant through time with regards to both life and general insurance
2. The probability of the event happening increases in case of general insurance and decreases in case of life insurance
3. The probability of the event happening increases in case of life insurance and decreases in case of general insurance
4. The probability of the event happening increases in case of life insurance and stays constant in case of general insurance over a period of time
Answer: option 4
Category: Life
Question: Analyse the two statements below and determine the true one(s) Statement I: The contingent event occurs certainly in case of general insurance Statement II: The contingent event occurs certainly in case of life insurance
1. Only Statement I is true
2. Only Statement II is true
3. Statements I and II are true
4. Statements I and II are false
Answer: option 2
Category: Life
Question: Suggest a class of insurance that will provide protection against loss of goodwill. 
1. Life insurance
2. Property insurance
3. Liability insurance
4. Personal insurance
Answer: option 3
Category: Life
Question: Analyse the Following Two Statements, and Determine the True One(s): Statement-I: The Contingent-Event occurs Certainly, in Case of General Insurance. Statement-II: The Contingent-Event occurs Certainly, in Case of Life Assurance. 
1. Statement-I is True. 
2. Statement-II is True. 
3. Statement-I and Statement-II are True. 
4. Statement-I and Statement-II are False. 
Answer: option 2
Category: Life
Question: Explain: 'Risk-Tolerance'. Choose the Most Appropriate Option. 
1. Types of Risks, One Can Take. 
2. Amount of Risk, One is Willing to Bear, while Investing. 
3. Instruments of Risk- Management. 
4. Period, for which, One is willing to risk His or Her Investments. 
Answer: option 2
Category: Life
Question: Which of the following insurances does not cover personal risks?
1. Life Insurance
2. Personal Accident Insurance
3. Fire Insurance
4. Motor Own Damage Insurance
Answer: option 3
Category: Life
Question: In case of life insurance, the event of risk covered is:
1. Uncertain
2. Certain
3. Uncertain but the time occurance of event is certain
4. Certain but the time occurance of event is uncertain
Answer: option 4
Category: Life
Question: In the policies where level premiums are charged -
1. Excess premiums for later years compensate for deficit premiums for earlier years
2. Excess premiums for earlier years compensate for deficit premiums for later years
3. Deficit premiums for earlier years compensate for excess premiums for later years
4. Deficit premiums for earlier years compensate for deficit premiums for later years
Answer: option 2
Category: Life
Question: Life insurance contratcs are often compared with financial products as they involve -
1. Both risk cover and savings
2. Risk cover against the untimely death
3. Risk cover and financial benefits
4. Risk cover and bonuses
Answer: option 1
Category: Life
Question: Many life insurance products have _______________________ which can form a significant part of an individual's savings. 
1. Low cash value
2. Saving component
3. Risk premium
4. Savings premium
Answer: option 2
Category: Life
Question: The traditional cash value life insurance contratcs are safe and secured investment offering a minimum guaranteed rate of return which _____________________________________. 
1. May increase with the contract duraion. 
2. May decrease with the contract duration. 
3. May increase with the age of the insured. 
4. May decrease with the age of the insured. 
Answer: option 1
Category: Life
Question: Life insurance policy provides liquidity to the policyholder, which means that the policyholder can avail ________________ against the policy. 
1. Cash
2. Loan
3. Surrender value
4. Any of them
Answer: option 4
Category: Life
Question: An opinion about the traditional life insurance policies is that the guaranteed yield may be:
1. More that other financial products
2. Lower than other financial products
3. Equivalent to other financial products
4. Similar to other financial products
Answer: option 2
Category: Life
Question: Assess the impact of inflation on your investment returns. 
1. Inflation has no impact on the investment returns
2. Inflation has a positive impact on the investment returns
3. Inflation has a corroding impact on the investment returns
4. Inflation boosts investment returns
Answer: option 3
Category: Life
Question: Identify the stage of life when an individual will appreciate his long term savings the most. 
1. Childhood
2. Just married
3. Teen age
4. Post retirement
Answer: option 4
Category: Life
Question: Describe the purpose of tax planning. Choose the most appropriate option. 
1. Tax evasion
2. Planning your investments in a manner such that maximum Tax benefits become applicable
3. Provide for taxes
4. Pay tax on time
Answer: option 2
Category: Life
Question: Explain risk tolerance. Choose the most appropriate option. 
1. Types of risks one can take
2. Amount of risk one is willing to bear while investing
3. Instruments of risk management
4. Period for which one is willing to risk his investments
Answer: option 2
Category: Life
Question: Identify a Insurance product that can be categorised under contingency products. Choose the most appropriate option. 
1. Bank deposits
2. Shares
3. Bonds
4. Life Insurance
Answer: option 4
Category: Life
Question: Amounts set aside from current consumption without being earmarked for any specific purposes is termed as
1. Current Consumption
2. Parting with Liquidity
3. Future Provision
4. Wealth Accumulation
Answer: option 3
Category: Life
Question: When is the best time to start Financial Planning
1. Post Retirement
2. As soon as one gets his first salary
3. After marriage
4. Only after one gets rich
Answer: option 2
Category: Life
Question: What is Financial Planning
1. Identifying one's life goals
2. Translating goals into financial goals
3. Managing one's finances
4. All of the above. 
Answer: option 4
Category: Life
Question: Retirement is also called as the ____
1. Parent
2. Twiligth years
3. Provider
4. Earner
Answer: option 2
Category: Life
Question: One example of contingency
1. Death
2. Disability
3. unemployment
4. All of the above. 
Answer: option 4
Category: Life
Question: The extent to which one seeks to diversify or spread the investments to reduce the risks. 
1. Diversification
2. Liquidity
3. Marketability
4. Taxes
Answer: option 1
Category: Life
Question: Buying an LCD TV set or a family vacation is an example of _____ type of Goal
1. Short Term Goal
2. Medium Term Goal
3. Long Term Goal
4. None of the above
Answer: option 1
Category: Life
Question: Identify the flip side of a pure term insurance plan. 
1. It is the cheapest form of insurance
2. It can be converted to a whole life insurance plan
3. It doesn't provide any returns on maturity
4. It comes handy as an income replacement plan
Answer: option 3
Category: Life
Question: You and your friend of same age bought life insurance policy on same date but you are paying a higher premium than him. What impact will it have on the compensation paid to the beneficiary in the event of your death?
1. Compensation remains the same
2. Compensation will be higher
3. Compensation will be lower
4. There will be no compensation
Answer: option 2
Category: Life
Question: Illustrate the USP of term insurance. Choose the most appropriate option. 
1. Lower Price
2. Coverage
3. Investment returns
4. Choice of riders
Answer: option 1
Category: Life
Question: Samara purchased a term insurance policy when she had high life insurance needs and limited income. Now Samara can afford whole life insurance. What term life insurance provision will permit Samara to switch her term insurance to whole life insurance without having to show that she is still insurable?
1. Alteration
2. Conversion
3. Exchange
4. Switching
Answer: option 2