RAP Exam English Practice Demo Test 5

What is the disadvantage to the insurer in case the persistency falls

For the customer whose claim has been refused by the company, the three places where he/she should follow up are – Ombudsman, IRDA Customer Grievance Cell and ………………………..

If a policy with premium of Rs 5000 has matured, how much will be deducted when the maturity claim arises

When a person is investing in Debt Mutual Fund, what is the primary objective

1.     If the employer has insurable interest in the life of an employee, what kind of policy is this?

The concept of indemnity is based on the key principle that policyholders should be prevented from

A customer gets periodic benefits without any claim and then when he dies during the term of the policy, his nominees gets the sum insured. What type of policy is this ?

For assessing the risk of a group health insurance policy, which of the following information is the most critical

According to Insurance Brokers Association of India, what is the most appropriate relationship between Insurer and Broker?

A low persistency ratio for the insurance company means that:

What is the stipulated time frame within which an insurer is supposed to respond after receiving any communication from its policyholders?

The proposer can withdraw from the contract, if they disagree with the terms and conditions of the Policy, within a ‘free look-in period’ of

Rakesh wants to buy a policy primarily for Risk Cover but at the end of the term he wants to get at least some return. Under which policy he will get these benefits

Payment/Investments in Kishan Vikash Patra under post office schemes

Prashant buys an Endowment Plan with a sum assured of Re. 100000 and wants to make use of tax benefit under the policy for whole SA. How much premium would help him avail this benefit

Under the IRDA guidelines for Claim settlement, any queries or additional documents can asked from the claimant within

Law of Large number helps the insures to

A person with a criminal background due to Financial fraud would come under which hazard

Whose signature is required on attestation of the policy?

What is the ceiling of tax exemption under 80 c.

Under the prevailing FDI laws for insurance, domestic private companies are allowed to form joint ventures with foreign partners. What percent of stake can a foreign partner hold?

The functions of the Insurance Ombudsman include:

If a client needs Mediclaim to cover health insurance which insurer he needs to apply.

The agent can use the benefit illustration document to show the client the projected growth of investment at the rate of –

What is commutation of installments

Employee has insurable interest in the life of their employer to the extent of

Rahul is appointed as director of life insurance company, he cannot be an

Ajay and Vijay both are unmarried. Ajay has dependant Parent. Which need Ajay must take care of on priority, although that will not be a priority for Vijay?

The mutual obligation of the parties is laid down in?

Health Insurance is needed because

Insurance agents are

Mr Rohan takes an insurance policy due to heavy Debt on his business with an intention of committing suicide. This is an example of the following Feature of a valid contract

Rajan and Rajini has taken a Family Floater health insurance Plan of 4 lacs. They met with an accident and had a hospital bill of 6 lacs. Which is true for this situation:

When an individual gets older, chances of obtaining life and health protection will be

Any assets, which are no longer suitable or are earning fewer returns than expected, should be

What key event is most likely to prevent insurer from ensuring that each insured person brings a fair premium to the pool for the risk presented?

The Insurance companies allow modification/alteration of the original policy documents through…

HLV is used as a Yardstick to determine

With effect from 1st July 2010 all insurers have to disclose in the benefit illustration document the..

If the client accept the recommendation, then the agent should ask the client..

Unethical behavior can affect the reputation

An agent is not required to obtain the prior approval of the insurer before placing an advertisement when:

If a person already suffering from some disease and had not mentioned it in the proposal form then as per IRDA code of conduct the agent should

How are perils and hazards normally distinguished under term insurance policies?

In the context of financial planning, how is the difference between real needs and perceived needs best described?

If a person is concentrating more on health plan and retirement plan then at which stage of life is he in.

The Institute of insurance and risk management along with insurance education does what more

If the client does not wish to proceed with the recommendations right at the moment the agent should

Suresh has adequate reserve capital with him and he wishes to protect his income, moreover he feels that if he does not die then he would need the amount. What type of plan should he opt for?

A claim was paid in a policy and it was advertised in the newspaper also. This indicates that the policy was.