IC38 -English New Syllabus IC38 Mock Test-31
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. To which risk group does the architect belong?
Risk group I
Risk group II
Risk group III
Risk group IV
Correct Answer
Wrong Answer
2. What are the common reasons for disputes between an insurer and insured related to claims?
Disclosure of material facts, coverage, loss caused by excluded perils, adequate sum insured
Non-disclosure of material facts, lack of coverage, loss caused by excluded perils, lack of adequate sum insured
Disclosure of material facts, lack of coverage, loss caused by included perils, adequate sum insured
Non-disclosure of material facts, lack of coverage, loss caused by included perils, adequate sum insured
Correct Answer
Wrong Answer
3. What can an insurer do if it has concerns about the validity or purpose of an assignment?
Refuse the assignment without providing a reason.
Decline the assignment if it is not notarized.
Accept the assignment without any inquiry.
Accept or decline the assignment based on sufficient reason, considering the policyholder's interest and public interest .
Correct Answer
Wrong Answer
4. What constitutes a consumer dispute under the Consumer Protection Act?
A dispute where the person against whom a complaint has been made denies the allegations contained in the complaint
A dispute where the person against whom a complaint has been made agrees with the allegations contained in the complaint
A dispute between two consumers regarding a product or service
A dispute between a consumer and a business regarding a product or service
Correct Answer
Wrong Answer
5. What does the term "Prospectus" refer to in insurance?
A document provided to policyholders after purchasing an insurance policy
A document issued by an insurer to sell or promote an insurance product.
The contract between the insurer and the insured
A document containing the terms and conditions of an insurance policy
Correct Answer
Wrong Answer
6. What information should a prospectus contain as per IRDAIs regulations?
The age of the policyholder
The date of purchase of the policy
The extent of insurance cover
The process of claim settlement
Correct Answer
Wrong Answer
7. What is "Turnaround time" (TAT)?
The time taken for a policyholder to renew their insurance policy
The time taken by an insurer to process a claim
The time taken for a policyholder to file a claim
The time taken for an insurer to issue an insurance policy
Correct Answer
Wrong Answer
8. What is healthcare?
A set of services provided by various agencies and providers to promote, maintain, monitor, or restore health
A government program for financial assistance
A collection of medical equipment and supplies
A type of insurance coverage
Correct Answer
Wrong Answer
9. What is the benefit of insurance in releasing capital for development of business and industry?
It helps in increasing the profits of the insurance companies.
It preserves capital and releases it for the development of business and industry.
This increases the risk of economic loss.
It leads to commercial and industrial stagnation.
Correct Answer
Wrong Answer
10. What is the first element considered in premiums for traditional life insurance policies?
Interest
Expenses of management
Mortality
Bonus loading
