Life Insurance Quiz

What is a Life Insurance Intermediary?

• A type of insurance policy

• A bridge between consumers and insurance companies

• A government agency

• A type of insurance product

What is the minimum age to become an Individual Agent?

• 21 Years

• 25 Years

• 18 Years

• 16 Years

Which of the following is NOT a type of Life Insurance Intermediary?

• Insurance Brokers

• Insurance Companies

• Individual Agents

• Corporate Agents

What is the minimum qualification for an Individual Agent?

• No qualification needed

• 10th Pass

• 12th Pass

• Graduation

How many hours of training must an Individual Agent complete?

• 50 Hours

• 25 Hours

• 15 Hours

• 10 Hours

What is the penalty for offering rebates in insurance?

• Five lakh rupees

• No penalty

• One lakh rupees

• Ten lakh rupees

What is the role of a Corporate Agent?

• To manage claims

• To provide legal advice

• To train agents

• To sell insurance policies for insurers

How many life insurers can a Corporate Agent represent?

• Four

• Three

• Two

• One

What is the minimum capital required for a Direct Broker?

• Rs. 1 crore

• Rs. 25 lakhs

• Rs. 10 lakhs

• Rs. 50 lakhs

What is a Point of Salesperson (POSP)?

• A person selling simplified insurance products

• A type of insurance policy

• An insurance broker

• A corporate agent