IC38 -English New Syllabus IC38 Mock Test-1
IC38 English Mock Test helps you prepare for the essential IRDAI IC38 exam to become an insurance agent. It covers insurance principles, regulations, claims, ethics, and sales techniques. Understand the exam pattern, boost your confidence and achieve success with our mock tests. Practice well and pass the exam on your first attempt!
1. Which among the following cannot be an element in a valid insurance contract?
Offer and Acceptance
Coercion
Consideration
Legality
Correct Answer
Wrong Answer
2. How are the exclusions in group policies different from individual policies?
Group policies have more comprehensive exclusions
Group policies have fewer exclusions
Group policies have identical exclusions
Group policies have different exclusions tailored for the group's requirements
Correct Answer
Wrong Answer
3. How does the speed of processing in non-medical underwriting policies compare to traditional policies?
Processing delays are longer in non-medical underwriting policies
Processing time is the same for both types of policies
Non-medical underwriting policies offer faster processing
The processing time depends on the sum assured chosen by the applicant
Correct Answer
Wrong Answer
4. If the mortality rate for age 35 is 0.0035, what does it imply?
35 out of 1000 people are expected to die between age 35 and 36
0.0035% of the population will die at age 35
3.5 people out of 1000 will die at age 35
35 people out of 10,000 will die between age 35 and 36
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Wrong Answer
5. What are lifestyle factors that can influence an individual's health?
Environmental conditions and pollution
Genetic predisposition to diseases
Exercising, eating well, and managing stress
Access to healthcare facilities and services
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6. What does body language refer to?
Only movements
Only facial expressions
Gestures and facial expressions
Talking and walking
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7. What happens if a claim is ready for payment but the payment cannot be made due to proper identification of the payee?
The claim amount is forfeited by the insurer
The claim amount is transferred to a different payee
The claim amount is held by the insurer for the benefit of the payee and earns interest
The claim amount is refunded to the policyholder
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Wrong Answer
8. What is a pension plan?
A fund into which money is drawn to support the person after his retirement from work in the form of periodic payments
A fund into which money is paid during a person’s employment years and from which money is drawn to support the person after his retirement from work in the form of periodic payments
A fund into which money is invested for a fixed term
A fund into which money is invested for a variable term
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9. What is pure premium?
Premium sufficiently big enough to pay for losses only
Premium applicable to marginal members of the society
Premium after loading for administrative costs
Premium derived from the most recent loss experience period
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Wrong Answer
10. What is the importance of financial planning?
Only to save for the future
To invest all savings in high-risk assets
To plan for future needs and invest in appropriate assets
To spend all money on present needs
