Insurance mcqs

✅ The correct answer is D.
Indian Gold Council is not a part of India’s Money Market. The Money market in India is the money market for short-term and long-term funds with maturity ranging from overnight to one year in India including financial instruments that are deemed to be close substitutes of money.

✅ The correct answer is D.
Insurance benefits replace the monetary losses, but only to some extent.

✅ The correct answer is C.
Under Numerical rating method of underwriting does an underwriter assign positive rating points for all negative or adverse factors (negative points for any positive or favourable factors). In such situations, the department may get the expert opinion of a medical doctor who is also called a medical referee.

✅ The correct answer is B.
An individual with aggressive risk profile is likely to follow wealth accumulation. Accumulation by definition doesn’t happen overnight, it is a gradual and continual increase over time. We believe one of the most important ingredients for accumulating wealth is planning. Planning to accumulate wealth enables you to work effectively toward your goals.

✅ The correct answer is A.
The National Insurance Academy is situated in Pune, India. Founded in 1980 by the Finance Department of the Indian government with capital patronage from LIC and public sector general insurance industry.

✅ The correct answer is D.
Public Pensions are funded in Pay as you go. A pay-as-you-go pension plan is a specific type of pension scheme where the benefits are directly tied to the contributions or taxes paid by individual participants. This is in contrast to fully funded pension plans where the pension trust fund is not actively paid into by its future beneficiaries.

✅ The correct answer is D.
A restrictive clause is a clause which functions as an adjective to identify the word it modifies. A restrictive clause is essential for the intended meaning. Hence in this case acceptance with a restrictive clause must be proceeded.

✅ The correct answer is D.
For the subsequent premiums received by the insurance company after the first premium, the company will issue Renewal premium receipt.

✅ The correct answer is C.
Network hospital is a an hospital enlisted by insurer to provide medical services and an hospital enlisted by TPA to provide medical services.

✅ The correct answer is C.
Both the statements are correct.
The partial withdrawal once taken need not be repaid and Policy was kept in force even if premiums are not paid provided there were adequate investment returns.