Administrator

2816. Which is a death claim?

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Early claim
Non-early claim
Both A & B
None of the above
✅ The correct answer is C.
Early claim and Non-early claim both are death claim. If the life assured dies during the term of the policy, the death claim arises. If the death has taken place within the first two years of the commencement of the policy, it is called an early death claim and if the death has taken after 2 years, it is called a non early death claim.

2797. In which of the following types of claim will insurer order an investigation?

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Early death claim
Non-early claim
Maturity claim
Surrender
✅ The correct answer is A.
In early death claim insurer order an investigation. Several situations can result in later payment of a claim. If the insured died within the first one to two years after the policy was issued, beneficiaries could face delays of six to 12 months. The reason: the one- to two-year contestability clause, says Huntley. “Most policies contain this clause, which allows the carrier to investigate the original application to ensure fraud was not committed.

2803. Probability distribution is classified as normal if expected return lies between

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( + 1 and -1)
( + 2 and -2)
( + 3 and -3)
( + 4 and -4)
✅ The correct answer is A.
Probability distribution is classified as normal if expected return lies between ( + 1 and -1). A probability distribution is a statistical function that describes all the possible values and likelihoods that a random variable can take within a given range.

2804. Costing and allocating situation, in which indirect cost allocated amount is less than actually incurred amount is known as

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over allocated budget
under allocated budget
under allocated indirect cost
over allocated direct cost
✅ The correct answer is C.
Costing and allocating situation, in which indirect cost allocated amount is less than actually incurred amount is known as under allocated indirect cost. Overhead allocation is the apportionment of indirect costs to produced goods.

2805. When critical illness rider benefit is payable?

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When the life insured dies of a critical illness
When the insured is diagnosed with critical illness
When the life insured is diagnosed with a illness not covered under the policy
When the life insured assigns his critical illness rider benefit also in favour of assignee
✅ The correct answer is B.
A critical illness rider makes living benefits payable to the insured for medical expenses prior to death.Generally, the extra cover is equal to the sum assured on the base policy and is paid upon diagnosis of the illness.