Insurance mcqs

✅ The correct answer is D.
Shares is a wealth accumulation product. To build a corpus for long-term goals like buying a house, building a retirement kitty or funding a child’s education, investors must choose products that provide enhanced earning power. This can come in the form of diversified equity funds.

✅ The correct answer is D.
Annuities are not classified on the basis of Profits/Bonus. Annuities are classified according to the nature of the payment and the duration of time for payment. If, however, the investment has fared poorly, the size of the payments decreases. A straight annuity is a contract by an insurance company to make variable payments at monthly or yearly intervals.

✅ The correct answer is D.
Subsidy is not an essential element of insurance. The elements of an insurance contract can be called many things, but in the end, you need an offer, an agreement, the objects being insured, the requirements that both parties must meet, and the requirement that each party is legally responsible. These components create a legally binding contract.

✅ The correct answer is D.
Active listening is Paying close attention to the speaker and occasionally smiling or nodding one’s head, Giving one’s comments on the points raised by the other party and While being attentive to the speaker, giving occasional nod and smile along with feedback.

✅ The correct answer is D.
In Convertible Whole Life, one can avail insurance protection for a large amount at a lower cost as compared to premium of Endowment Assurance.

✅ The correct answer is C.
In respect of Bonuses, Premiums need to be paid for a specified no. of years.

✅ The correct answer is A.
Life insurance companies may offer rebate to the buyer on the premium that is payable on the basis of sum assured chosen by the buyer. They are in most cases the same throughout the term and are expressed as an annual rate. The rebate for sum assured is offered to those who buy policies with higher amounts of sum assured. Rebate for mode of premium: Premiums can be on annual, half yearly, quarterly or monthly basis.

✅ The correct answer is D.
If a person does not prefer any claim in an health insurance than no claim Bonus is allowed for claim-free years.

✅ The correct answer is A.
Moral Hazard Report is completed by official of the Company.

✅ The correct answer is C.
When the age is advanced and large sum insured disproportionate to income moral hazard could be suspected.