IC38 -English New Syllabus IC38 Mock Test-33
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 does surrender value refer to?
The amount paid by the policyholder to surrender the policy
The total amount of premiums paid over the policy term
The amount the policyholder receives upon making a premature exit from the policy
The value of the policy at maturity
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Wrong Answer
2. What happens if the service provided by an insurance company exceeds customer expectations?
The customer is indifferent
The customer is dissatisfied
The customer is delighted
The customer will cancel their policy
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3. What is an annuity?
A long-term investment issued by an insurance company designed to provide income during retirement.
A short-term investment issued by an insurance company designed to provide income during retirement.
A type of insurance policy that provides coverage for a specific period of time.
An investment in stocks and shares
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4. What is the degree of risk exposure in insurance?
The amount of loss may vary greatly
The likelihood of loss may vary greatly
The assets may be exposed to the same peril
The extent of damage likely to be suffered
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5. What is the Insurance Ombudsman?
A legal procedure involving considerable delay and expense
A person appointed by the court to resolve insurance disputes
A mechanism available to the insured in the event of dissatisfaction with the service of the insurer
A type of insurance policy
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6. What is the primary focus of policies that offer accident and sickness benefits?
Coverage for lost baggage and personal belongings
Compensation for flight delays and cancellations
Protection against accidents and medical conditions
Assistance with visa and immigration processes
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7. What is the purpose of maintaining a minimum solvency ratio in insurance?
To assess the extent to which assets are available to cover the insurer's commitments towards future payments.
To ensure that there is equity among all those being insured.
To maintain a surplus of money to meet unforeseen deviations between expected and actual claims situations
To compensate those who suffer loss.
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8. What is the role of an Insurance Ombudsman in resolving disputes related to personal lines of business?
To provide legal representation to the insured;
To provide an alternative dispute resolution mechanism for the insured
Submit disputes to arbitration;
To decide on the quantum of the claim.
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9. What kind of ailments are considered by underwriters when assessing personal history?
Mental health disorders and psychological conditions
Infectious diseases and viral infections
Cardiovascular diseases, respiratory diseases, cancer, renal diseases, endocrine system impairments, digestive system diseases, and nervous system diseases
Musculoskeletal disorders and injuries
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10. What types of expenses are typically covered under pre-hospitalization coverage?
Expenses related to post-operative care
Expenses incurred during hospitalization
Expenses incurred for diagnostic tests and medications before hospitalization
Expenses incurred for follow-up consultations
