747. Apart from the salary level, what another key feature of Alok’s job is likely to have a major impact on the level of his pension, life insurance, and health insurance needs?

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Whether the job is office or field-based
The normal retirement age in relation to the job
Whether the job is in the public or private sector
Whether the job is manual or non-manual
✅ The correct answer is C.
Apart from the salary level, Whether the job is in the public or private sector key feature of Alok’s job is likely to have a major impact on the level of his pension, life insurance, and health insurance needs.

758. What do you understand by the term ‘Portability’ in so far as it relates to health ins?

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Right given to an individual to move from one to another policy of the same co
Right to transfer the policy from one insurer to another insurer or from one to another plan
Both A & B
None of the above correct
✅ The correct answer is C.
‘Portability’ in so far as it relates to health insurance means right given to an individual to move from one to another policy of the same co and right to transfer the policy from one insurer to another insurer or from one to another plan.

757. Which of the below statement is correct?

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Life insurance is sold, not bought
Life insurance is bought, not sold
Life insurance is neither bought nor sold; it is a necessity and hence should be bought by every individual
None of the above
✅ The correct answer is A.
Is it true Unlike tangible goods which can be seen and experienced before purchase , very few people feel the need for life insurance. Hence, Life insurance is sold, not bought.

739. Interest rates are one of the important components used while determining the premium. Which of the below statement is correct with regards to interest rates?

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Lower the interest rate assumed, lower the premium
Higher the interest rate assumed, higher the premium
Higher the interest rate assumed, lower the premium
The interest rates don’t affect premiums
✅ The correct answer is C.
Higher the interest rate assumed, lower the premium. In other words the higher the rate of interest assumed, the lower the present value.

737. A discount rate which equals to present value of TV to project cost present value is classified as

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negative internal rate of return
modified internal rate of return
existed internal rate of return
relative rate of return
✅ The correct answer is B.
A discount rate which equals to present value of TV to project cost present value is classified as modified internal rate of return. The internal rate of return (IRR) is a metric used in capital budgeting to estimate the profitability of potential investments.