IC38 -English New Syllabus IC38 Mock Test-6
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 happens if the medical costs are less than the chosen deductible level in a top-up policy?
The insured receives full reimbursement for the medical expenses
The insured receives partial reimbursement for the medical expenses.
The insured is not eligible to receive any claim under the policy.
The insured must pay the entire medical expenses out of pocket.
Correct Answer
Wrong Answer
2. 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
Correct Answer
Wrong Answer
3. What is the definition of Permanent Partial Disability (PPD) in the policy?
Becoming partially disabled for a temporary period of time
Becoming totally disabled for a temporary period of time
Becoming totally disabled for life
Becoming partially disabled for a lifetime
Correct Answer
Wrong Answer
4. What is the importance of understanding objections raised by customers during a sale?
Identify and resolve underlying concerns
Ignore the objections and move on to the next customer
To argue with the customer and convince them to buy the product
Making assumptions about the customer's needs
Correct Answer
Wrong Answer
5. What is the primary concern addressed by a critical illness policy?
The need for routine medical check-ups and preventive care
The availability of advanced medical treatments for major diseases
The financial burden associated with surviving a critical illness
The risk of developing chronic diseases in the future
Correct Answer
Wrong Answer
6. What is the role of a Third Party Administrator (TPA) in the health insurance business?
Selling health insurance policies to individuals
Providing medical services directly to policyholders
Servicing of claims under health insurance policies, facilitating pre-insurance medical examinations, and more
Act as an intermediary between insurance brokers and insurance companies
Correct Answer
Wrong Answer
7. What is typically required for persons above the age of 45-50 years enrolling for health insurance?
Submission of a detailed medical history
Completion of a physical fitness test
Pathological investigations to assess health risk profile
Participation in a health and wellness program
Correct Answer
Wrong Answer
8. What type of payment do benefit-based products provide?
Monthly installments
Lump sum payment
Reimbursement of medical expenses
Cashless treatment facility
Correct Answer
Wrong Answer
9. When there is a delay in processing a claim for reasons other than those specified, what does the life insurance company do?
Rejects the claim and offers no compensation
Pays the claim amount without any additional compensation
Pays interest on the claim amount at a rate 2% above the bank rate prevalent at the beginning of the financial year
Extends the claim processing timeline without any compensation
Correct Answer
Wrong Answer
10. Which organization follows the definition of health insurance business ?
World Health Organization (WHO)
International Association of Insurance Supervisors (IAIS)
Insurance Regulatory and Development Authority of India (IRDAI)
Insurance Information Institute (III)
