Insurance mcqs

✅ The correct answer is D.
Both the statements are incorrect.
Life insurance is not only the best savings scheme for all persons. Life insurance is not only the best investment scheme for young persons. There are many other insurance also.

✅ The correct answer is D.
Bank deposits
Transactional marketing is a business strategy that focuses on single “point of sale” transactions. The emphasis is on maximizing the efficiency and volume of individual sales rather than developing a relationship with the buyer.

✅ The correct answer is B.
At young age, one tends to be aggressive. It means behaving in an angry and violent way towards another person.

✅ The correct answer is D.
A valuation is done by a life insurer because It is a statutory requirement, it is necessary to be able to declare dividends to shareholders and it tells the insurer how well it is managing the business.

✅ The correct answer is A.
In endowment assurance survival up to the end of the term as well as in between death will give the claimant the benefits of the policy.

✅ The correct answer is C.
Rights/Privileges information is not found in the Policy Schedule.

✅ The correct answer is B.
The practice of charging interest to borrowers who pledge their property as collateral but leaving them in possession of the property is called Mortgage.

✅ The correct answer is D.
Being on time always, Presenting yourself appropriately, Being open, confident and positive tips are useful making a good first impression.

✅ The correct answer is C.
Both the statements are correct.
The policy has to be assigned in favour of the insurer and such an assignment will not cancel the nomination already made.

✅ The correct answer is A.
Whole life insurance is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid throughout.