IC38 -English New Syllabus IC38 Mock Test-26
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. What are some ways to demonstrate that one is listening?
Give an occasional nod and smile
Interrupt the speaker with arguments
Mentally prepare a rebuttal
Engage in external distractions
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2. What are With-Profit plans?
Plans that only offer a fixed benefit that is guaranteed at the beginning of the contract.
Plans that invest the pooled life funds as per regulatory norms.
Plans that offer a share in the surpluses (bonuses) generated by the insurer, in addition to a guaranteed sum assured.
Plans that are offered either under a linked platform or a non-linked platform.
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3. What does the Policy document provide information about in relation to claims?
The obligations of the insured upon the occurrence of a claim event
The rights of the insurer in claim circumstances
Action to be taken by the insured upon the occurrence of a claim event
All of the above
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4. What information is collected through the Proposal Form in life insurance?
Financial details of the proposer and his/her family members
Details of the proposer's occupation and income
Details of the proposer's family members, their longevity, health status, and ailments suffered by them
Information about the proposer's hobbies and interests
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5. What is Decreasing Term Assurance?
A plan that provides a certain amount of death benefit equal to the balance due on a loan
A policy that provides a death benefit that increases along with the term of the policy
A plan that provides a lump sum amount upon the death of the policyholder
A plan that provides a series of monthly, quarterly or similar periodical payments to the dependent beneficiaries.
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6. What is the agent's responsibility when giving advice on the amount of insurance to be purchased?
Link the amount of insurance to the customer's income and paying capacity.
To recommend insuring where the risk can be managed otherwise.
To bear the risk if the premium payments are high compared to the loss involved.
To insure against the risk if the loss consequences are likely to be severe.
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7. What is the duty of the insurer regarding the Proposal Form, according to IRDAI guidelines?
To decide whether to accept or reject the proposal based on the information provided
To keep the information confidential and not share it with any third party
Furnish a copy of the proposal to the insured within 30 days of its acceptance
To refund the proposal deposit within 15 days from the date of underwriting decision.
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8. What is the maximum age limit for health insurance coverage and renewal?
60 years old
65 years old
70 years old
It varies from company to company
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9. What is the provision for resignation or surrender of appointment by an insurance agent according to the Regulations?
The agent is required to serve a notice period before resignation
The agent can resign or surrender appointment without any formalities
The agent is required to pay a penalty fee for resignation or surrender
The agent must submit a written application for resignation or surrender
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10. What is the purpose of the buffer cover in relation to the family sum insured?
It replaces the family's sum insured once it is exhausted
It provides coverage for non-medical expenses beyond the family sum insured
It offers coverage for routine medical expenses not covered by the family's sum insured
It supplements the family sum insured by covering expenses exceeding it
