A proposal of life insurance is not accepted in the absence of Insurable interest which mainly depends on the
What role an agent is likely to play in the process of underwriting?
In insurance, HLV is a known abbreviated term. How the meaning of HLV can best be described in relation to a income earning proposer?
The basic elements of life insurance are:
Pick the wrong answer. In a child plan:
There is a relation between Age, Risk and Risk appetite. Which relation is most likely to be acceptable?
Regular savings creates a fund to meet adverse incidents in future. For drawing a financial plan for savings needs of an individual without capital, what is the Fund which comes first?
A Proposer asks for double death benefit in an Endowment assurance plan for 15 years. How his proposal will suitably be dealt with?
In a Health insurance plan what the particular feature is likely to cause the Insurer to decrease the Renewal premium?
Out of all the factors that affect the needs of different life stages of an individual, which is the most common factor that is likely to exist throughout the life span of an individual?
A provision for superannuation is normally taken a high need to
Financial planning may not be taken as complete till inclusion of the predictable needs of the clients. It is likely to emerge from the incident of
Which one is not an asset
Transactions of sale of life insurance products to the insurable clients are viewed in the Insurance market mostly as
Which Act or Regulation provides that the Renewal commission is payable to the legal heirs of the Insurance agent in case of his death?
Ranjan took out a 20 years Money Back plan on his own life 5 years ago. Survival benefit was due on 4.5.2011. Ranjan died on 6.5.2011 without receiving the survival benefit amount. What will be the legitimate procedure to pay out the claim?
A life assured died after 40 days from the payment of his monthly premium. If there be any claim, how the claim will normally be dealt with?
Agent offering rebate may be fined
In MWP Act Policy, claim is paid to
If an Insurance agent is found guilty of breach of trust, he will be disqualified to act as an insurance agent. The disqualification stands valid
Central govt has authority of Direction to IRDA on
It is the bounden duty of the Insurers to protect the interests of their policyholders from proposal acceptance to claim payment because of the
For redress of grievances of the policyholders, a number of Authorities have been formed. Which of the Following authorities has been empowered to hear the complaints and adjudicate?
In the context of IRDA’s code of conduct, the term Ethical behavior can be best described as
An agent offered his client that 75% of the first premium will be paid by him out of commission. This offer of rebate on premium will be treated as
Principle of utmost good faith is expected for max up to which stage
A nomination is not required if
Bank savings account earn cumulative interest at what frequency
A person has 6 months of emergency funds.This is:
If I invest in a G sec partway(ignore periodic interest payments).I will get on Maturity
Daily hospitalisation benefit:
ADB rider premium cannot exceed
An agent does 6 lacs of new business premium /Income in a year. He is a composite agent. What is the maximum Premium/Income he can earn from 1 insurer?
Persistency can be improved by:
IIRM is in areas of education and
While calculating HLV along with future income, no of years of work, increments in salary what is also to be taken in to account?
Which of the following falls under voidable contract?
Customer has opted for a 5 yrs guaranteed annuity option. What will happen to annuity, if the customer survives for 5 years after the end of guarantee period?
After maturity In a Unit Linked Life Insurance Policy, customer does not get received Maturity in a lump sum. What is the possibility of receiving it in installments if it is not a annuity plan
Anand received post taxation 5% return on his fixed deposit in a bank. If his net return is 3%, what can be the reason
During Fact finding, rating is mentioned ‘3’. This Indicates
Incase of presumption of death
Which tax rate is applicable, in case of Client pays the premium of 5000/- and suffers illness before maturity?
Pooling of insurance applies to
During financial planning session if the agent finds out the following needs, which one should be given the top priority. Needs: Income protection, Childs education, marriage and emergency funds.
For assessing the risk of a group health insurance policy, which of the following information is the most critical
The rider which is given by the Insurance company pays for the treatment costs in the event of hospitalization of the insured person is called
A Professional insurance market carries…..
Insurance Market divided into
What is Bancassurance?
RAP Exam Demo Test 8
35% Overall marks for Passing
RAP Exam Demo Test 8
35% Overall marks for Passing
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