Quiz For Trainers

Which of the below is not correct with regards to insurable interest?

• Father taking out insurance policy on his son
• Friends taking out insurance on one another
• Spouses taking out insurance on one another
• Employer taking out insurance on employees

Which of the mentioned statement is incorrect in respect to “Indemnity”?

• The amount paid by the insurer as a claim should not exceed the amount of loss incurred.
• Insurance should place the insured in the same financial position after a loss, as he enjoyed before it, not better.
• Indemnity is applicable to Life Insurance.
• Indemnity is applicable to General Insurance.8)

Calculate HLV: Mr. Rajan earns Rs. 1,80,000 a year and spends Rs. 40,000 on himself. Current interest rate is 7%.

• 12,00,000
• 18,00,000
• 20,00,000
• 25,00,00010)

The principle of utmost good faith in underwriting is required to be followed by ___________.

• The insurer
• The insured
• Both the insurer and the insured
• The medical examiners

What is the maximum tenure a person can invest in an FD?

• 3 Years
• 5 Years
• 7 Years
• 10 Years

When can a person withdraw his/her money from a PPF?

• After 7th year.
• After 5th year.
• After 8th year.
• After 10th year.

Which of the below investments have tax benefit over and above Section 80C?

• FD
• NPS
• PPF
• MF

If a customer is diagnosed with cancer and died within one month. What is the benefit that the nominee will get from I Term Plus Plan “Life + Health Option”?

• Terminal illness benefit
• a)  Only Critical Illness Benefit
• Only Death benefit         
• c)  Both Death and Critical Illness Benefit

What is the Policy Admin charges in iMaximize?

• A.  Rs. 50 Per month & will be deducted by cancelation of Units
• A.  Rs. 75 Per month & will be deducted by cancelation of Units
• A.  Rs. 100 Per Quarter & will be deducted by cancelation of Units
• None Of the Above

The policy holder has the following options in case of discontinuance of policy after 5 years?

• Revive the policy   
• A.  completely withdraw from the policy   
• A.  convert into paid up 
• All of the above