Rap Exam 100 Questions With Answers (csc Insurance)

Rap Exam 100 Questions With Answers (csc Insurance)

Q NO. 1. Under the principle of insurable Interest one can insure the life..? 

A. Of one's sister or brother. 
B. Of any third party. C. Of one's uncle. 
D. None of the options. 
ANS = B. 
Q NO 2. The delay in setting claim by any insurance co as per IRDA norms has to pay.......% if the present bank interest rate is 5.2% ? 
A. 0.07.
B. 0..85 
C. 0.072 
D. 0.082 

Q NO. 4 Pre authorization is …. 
 A. Payment of claim amount before surgery. 
B. Authorising the I capital to in advance to conduct surgery treatment to the insured patient. 
C. Reject the banefit claim after treatment. 
D. None of the options 

 Q NO. 5. Agent offering rebate may be fined with... 
 A. Rs300 
B. 500 
D. Any of the options. 

Q NO. 6. Mr Mehta wants to insure his wife previously his proposal was rejected by another company but this time his submits the proposal form without showing to this company.
 A. Non disclosure of material facts. 
B. Concealment of material facts. 
C. Fraudlent misrepresentation of material facts. 
D. Innocent misrepresentation of material facts 

Rahul is employed by Sunny. In respect of this employment, Rahul automatically has an insurable interest in Sunny’s life up to what limit, if any? 
A. Rahul's monthly salary 
B. Rahul's pension fund value 
C. Sunny's annual profit 
D. There is no limit 
 Answer: Option A 
 Q NO. 8 In case of marine insurance the insurable interest should exist at the time of... 
A. Inception. 
B. At the time of claims. 
C. Both A and B option 
D. None.

 Q NO. 9 The headquarters of irda is in……… 
A. Hyderabad 
B. Mumbai 
C. New Delhi 
D. Chennai 

Q NO. 10 Husband and wife jointly taking insurable policy what is the reason that they need no mention nominee under this insurance policy. 
B. Return of premium. 
C. Joint life policy 
 D. Endowment policy 

 Q NO. 11 Which of the following is true about nomination. 

A. At the time of taking policy. 
B. In some cases after policy is issued. 
C. It is possible to change nominee after policy is issued. 
D. All of the options 
 Q NO. 12 Why annuities are reverse of life insurance.. 
A. Both annuity and Life insurance provide risk cover. 
B. Annuities provide risk cover and life insurance provide only maturity banefit. 
 Q NO. 14 Moral hazard reflect the.Intention and attitude of proposar. 
A. Habits and hobbies of proposar. 
B. Occupation and residence of proposar. 
C. Medical and personal history of proposar. 
Q NO .15 If the agent recommends the client to terminate an endowment plan and take whole life in order to earn higher commission is termed as. 
Doing a financial planning. 
Need analysis. 

Q NO 16 A family consists of husband wife and two children aged 6 and 10 what kind of insurance plan can be suggested. 
Protection plan 
Child plan. 
Q NO 17 Which plan will suits a customer need who is just looking for protection of family. 
 Term insurance. 
Money back 
 Q NO 18 Which of the following limit affect the claim amount payable under horticulture plantation policy.  
C Both. 
D Nor a nor b. 
Q NO 19 Which of the following contains the offer of the insurer. 
1 Proposal. 
2 Prospectus. 
3 Policy.  
4 Endorsement 

 Q NO 20 the policyholder can register the following in his policy 
A. Change in address. 
B Change in nomination. 
C Change in assignment. 
D All 

 Q NO 21 Valid kyc documents are. 
Pan CARD . 
Voter CARD 
Aadhar CARD 

Q NO 22 the insurer has to communicate the decision regarding the proposal within........days

Q NO 23 Arun started a 20-year term insurance policy. once established, when the insurer next entitled to ask for proof of continuing good health? 
After the end of first 12 months 

 Q NO 24 which plan are suitable for low income groups
 Micro insurance plan 

Q NO 25 the period which does not provide risk cover in a child plan is called... 
Vesting period. 
Deferment period 
Lapse. Period. 

 Q NO 26 .........includes banks and brokers...

Q NO 27 To fulfil the 'know your customer' procedures, at what stage in the financial planning process is theinsurance agent most likely to request a copy of the customer's photograph?  
 At the end of the fact-find meeting.  
At the end of the presentation meeting.  
As soon as the application is accepted by the insurer 

 Q NO 28 In term insurance if critical illness rider claim happens then what will happen to existing policy... 
Ci benefit reduced 
Q NO 29 In which claim most fraud occur.. early claim 
Q NO 31 validity of a motor cover note may be extended for a maximum period of.. 
One month 

Q NO 32 what frequency can one take annuity.. 
Monthly، Quarterly. Half yearly, yearly... 

Q NO 33 which features of an insurance policy with address the problem of inflatation.. 
Increase in bonus 
Q NO 34 under the principle of insurable Interest one can ensure the life of 
None of the options 

 Q NO 35 An agent offered his client 75% of the first premium will be paid by him out of his commission...
this offer of rebate on premium will beneficiaries.... 
Answer is D 

Q NO 36 Under aqua culture insurance comprehensive vcover excludes which of the following........ Poisoning

 Q NO 37 If the client does not wish to proceed with the recommendations right at the moment the agent should Insist on taking the product right away Should ask for the reason for not going with the recommendation Should ask for a future date from the client Should review once again Q NO 38 A variable insurance products offers.. 

A. Offers interest on market rates... 
B. Offers interest on bank rates. 
C. Does not offer interest. 
D. Offers guaranteed non zero positive interest rate. 

 Q NO 39 For composite license an agent has to complete training for ,......hours.. 
A. 25 HOURS 
B. 50.HOURS 
C. 75. HOURS 
D. 100 hours 

Q NO 40 Film production is covered under . 
A. Life insurance. 
B. General insurance.
 C. Health insurance. 
D. Not covered 
Q NO 41 Waiting period in a health insurance policy is to address. 

A. Age discrepancy. 
B. Pre-existing illness 
C. Risk. 
D. Premium. 

Q NO 42 Health insurance policies cover. 
A. Room boarding and nursing charges. 
B. Doctor s , specialist fees. 
C. Only room boarding and nursing. 
D. All. 

Q NO 43 Which of the following have been identified by irda as 10 major lines of general insurance business. 
A. Aviation. 
B. Engineering 
C. Fire. 
D. All of these 

Q NO 44 Mr Mahesh is a software engineer he has taken a term insurance of rs3000000 for 30 years .  this is example of ... 
B. Risk retention. 
C. Risk transfer. 
D. Risk avoidance
A.Risk tolerance. 

Q. NO 45. As per IRDA regulations IGMS Should be mandatory setup by 
Ans. By all insurers 
Q NO. 46 When should an agent disclose the commission which he will earn from the product which he is going to sell? 
Ans. When the customer asks him 

 Q NO 47 What are the benefits to the policyholder under surgical car rider? 
Ans. Treatment cost of surgery subject to term & Condition 

Q NO 48 Claim form is submitted in case of ........claim . 
A. Death claim. 
B. Maturity claim 
 C Money back installment
 D. None 

Q NO 49 The surrender value in life insurance is paid only if the....... annual premium is/ are paid. 
A. 3. 
B. 10 
C. 5 
D. 1 

 Q NO 50 Open market option under annuity policy would extend which of the following benefit. 
A. Ensure better annuity rate 
B. Increase in return. 
C. Switch of funds. 
 D.Increase in range. 

 Q NO 51 In a whole life plan the policy holders responsibility to give disclosure. 
A. At the beginning of the contract. 
B. Throughout the contract Revival
Both a and b 

Q NO 52 Servicing the policy involves. 
A. Change of address. 
B. Assignment 
 C Change of nomination 
 D All of these 

Q NO 53 Where annuity increasing flexible premium operate under a life insurance policy what rate of increase will generally apply. 
0. 0.25 
D. 0.50. 
E. 0.75 

Q NO 54 Medical examination is generally not required in... 
A. Term insurance policy. 
B. Whole life insurance 
 C. Joint life policies 
 D .Group insurance policies 

 Q NO 55 A client can reject a policy within how many days of receiving the same. 
A. 30 .
 B. 15. 
C. 50 
D. 20 

 Q NO 56 The table which shows rate of deaths occuring in a defined population during a selected time interval is known as....table. 
A. Mortality. 
B. Discount. 
C. None 
 D. Premium. 

Q NO 57 Who can cancel the license of an agent if agent violates code of conduct.
 A. Tac. 
 C. Life insurance council 
 D. Designated person of the ins co 

Q NO 58 For assessing the risk of a group health insurance policy which of the following information is the most critical. 
A. Group lifestyle. 
B. Employee. 
C. Age of the group. 
D. Medical history of the group 

Q NO 59 Medical certificate is necessary for claims for. 
A Flood losses. 
B Fire losses 
C Disablement claim. 
D All. 

Q NO 60 A proposal of life insurance is not accepted in the absence of insurable interest which mainly depends on the. 
A Blood relation between the proposar and the life assured. 
B Financial relationships. Between the proposar and the life assured. 
C. Proximity of relationship between the proposar and the life assured. 
D. Emotional relationship between the proposar and the life assured 
Q NO 62 In case of cumulative bonus the sum insured shall………. 
Increase up to specified percentage. 
Remain same. 

Q no 63 Banks as brokers can sell policies of.. 
Only one insurer. 
Only one life insurance. 
Only for health. 
All insurers 

Q NO 64 Claim settlement ratio means. 
The number of claim arising to no of claims settled. 
The no of claims settled to no. Of claims arising. 
The no of claims settled to every claim. None 

Q NO 65 Which of the following statement does not apply to direct marketing in life insurance. Sourcing the business through agent advisors. 
The insurance company can sell the product much cheaper as no intermediaries commission are eliminated. E-sales refers to sales of products through internet. 
Where no intermediate are involved.

Q NO 66 Investment by NRI will be. 
No risk. 
Low risk. 
Medium risk. 
High risk. 

Q NO 67 Insurance works on law of...... 

Q NO 68 Free look option should be exercised within... 
15 days of receipt of policy. 
30 days. 
15 days of purchase of policy. 
30 days of purchase of policy 

 Q NO 69 For become an insurance agent the candidate has to undergo training for .....hours... 


Q NO 70 Who is the primary under writer of the clients. 

 Q NO 71 The surveyor must submit the report within.......days of appointment. 

Q NO 72 Which of the following is true about assignment. 
Insurance policy can assigned to another person. 
If assignment is made nominee is automatically cancelled. 

Q NO 73 What is the maximum cover that can be provided in micro insurance.
 A. 5000. 
B. 10000. 
C. 50000. 

 Q NO 74. Intermediary has to give......... Advice to the prospect... 

Q NO 75 An agent can receive maximum of ...........% of the premium as commission in the first year. 

Thirty percent. 
Twenty percent. 
Thirty five percent. 

Q NO 76 In the personal accident policy the claim form has to be submitted to the . 
Insurance company. 

Q NO 77 The benefits of liberalisation of insurance sector are. 
allocative efficiency, 
 higher technology transfers rates greater wages 

Q NO 78 Benefit of a professional insurance market are/is.... 
Need based selling.... 
customer will be sold a product that suits his need. is to protect the professionals against any financial losses from lawsuits 

Q NO 79 Consensus as Idem means... 
Ethics in advertisement. 
Consumer rights to knowledge. 
Both have same understanding. 
Proper identify of a person 

Q NO 80 Policy taken by husband and wife jointly is called as.... 
Group insurance policy. 
Family floater policy. 
Joint life policy. 
Joint account policy. 

 Q NO 81. Insurance Contract without any Insurable Interest will result? 
Contract Legal 
Contract Void 
 All of the above 

Q NO 82. Outmost good faith envisages a positive duty to disclose accurately all information that are.... Facts of common knowledge. 
Facts which are material to the risk being proposed Facts of law. 
Facts already know to the insurer . 

Q NO 83 A policy was earlier issued with premium extra where are the details of the customer available. 
Proposal form. 
Medical report. 
Both. None 

Q NO 84 A policy holder is not satisfied with the service of the insurer and complains to ombudsman . In how many days from receipt the ombudsman should pass the recommendation. 
6 weeks. 
3 months. 
2 months. 
6 months 

Which is correct. Fpr is the evidence of the insurance contract. 
B. The medical report is the basis of the insurance contract... Statement a. B is correct Both are correct. None 

Q NO 86. Which one of the following statements is correct? 
 If policy document is lost the insurance contract becomes void. 
 The family history appears in the personal statement. 
 Both (a) and (b) statements are correct.
 Both (a) and (b) statements are wrong.
Q NO. 87 Mr Ahas been approached by the agent and on fact finding the score Is 3 this represents. 
Low risk taking. 
High risk taking. 
Moderate risk taking 
Zero risk taking 

Q NO 88 Traffic advisory committee has been formed under... 
LIC act 1996.
 Irda act 1996. 
Life insurance companies act 1912. 
Insurance act 1938 

Q NO 89 More surrender lapses and cancellation during free look in period raises doubts that the company is doing .......sales. Ethical. Moral. Value. Unethical 

Q NO 90 A group of people insured in a policy .they belong to which category... 
Same age. 
Acc to height 

Q NO 91 If a contract is signed by a 15 year old boy this contract will be. 
Null and void. 

Q NO 92 In which kind of policy the insurable interest should exist at the time of claim only 
 (a) Motor insurance
 (b) Marine insurance 
 (c) Liability insurance 
 (d)Travel insurance. 

Q NO 93. In case of double insurance with different insurers which of the policy would be cancelled. 
At the option of the insured. 
At the option of insurer. 
Any one policy. 
Policy commencing later. 

Q NO 94 In which policy can policy holder take loan. 

Q NO 95 Pure risks are those risks where there is
a) Loss or no loss 
 b) Gain or no gain
c) Possibility of any benefits occurring 
 d) Full control over their occurrence. 

 Q NO 96 The process of bringing the lapsed policies into full force is called
a) Renewal
 b) Reinstatement
 c) Revival 
 d) Paid-up 

Q NO 97 Two People with same term, 
one person had more premium than others because Married Wife Younger Health deterioration Dirrerence in caste 

Q NO 98  The surrender value of a policy has no relevance to the
a) The paid up value of the policy
 b) Term of the policy
c) Duration of the policy till surrender 
 d) health of the life assured 

 Q NO 99 In which type of claim investigation is necessary. 
Non early claim. 
Early claim. 

Q NO 100 The relationship in which insurance interest is deemed to exist are narrated in. 
Insurance act 1938. 
Irda act 1933. 
Irda regulations. 
Already prevailing court judgement.

all answers are given in below link check now

Post a Comment