Quiz 4

Quiz 4

Professional Development

20 Qs

quiz-placeholder

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Quiz 4

Quiz 4

Assessment

Quiz

Other

Professional Development

Hard

Created by

Splash M

Used 1+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Agents must be licensed under the __________

IRDA Act   

Insurance Act

Companies Act  

Contract Act

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which scheme as per company Act, 1988 require the employers to fund the liability in respect of leave encashment facility

Group Super annuation

Group Term

Group Leave encashment

Group Saving Linked Insurance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the benefits of group insurance

Provide benefit to employees  

As an instrument of social welfare by govt.

To act as an incentives for employees 

As a social security measure    

All above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gratuity can be paid by employer in following ways

Make payment as and when it falls due out of current revenues (pay as you go)

Create internal reserve in the book equal to estimated liability and make payment from the fund when they fall due

Creating an gratuity fund and making payment from that fund

Set up a trust fund and purchase a group gratuity policy from insurance policy

All above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

After the proposal becomes a policy, the agent has to ensure –

continuance of the policy through regular payment of renewal premiums

get nominations or assignments effected as required

help in prompt settlement of claims                

All of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Find the dissimilar word

Group

Gratuity

Employers

Employees

Individual

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Premium on group policy is low because

Single policy issued for large group

Premium is received in one lump sum

Administrative cost in issuing policy is low

Adverse Selection is low

All Above

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