IC38 -English New Syllabus IC38 Mock Test-14
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 advantage does the agent have in assessing the accuracy of information provided by the proposer during the underwriting process?
I. Access to confidential reports about the proposer
II. Personal contact and interaction with the proposer
III. Training in identifying fraudulent activities
IV. Authority to modify policy terms based on disclosed information
Correct Answer
Wrong Answer
2. What are the guiding principles for determining the amount of loading in the gross premium?
Mortality and interest
Expenses and reserves
Risk premiums and reserves
Loading and commissions
Correct Answer
Wrong Answer
3. What are the majority of consumer disputes related to insurance business?
Delay in payment of premium
Delay in settlement of claims, non-settlement of claims, repudiation of claims, quantum of loss and policy terms and conditions
Disputes relating to the coverage of the policy
None of the above
Correct Answer
Wrong Answer
4. What does a proper family history and personal history indicate for insuring minors?
Higher premiums for the insurance policy
No impact on the insurability of the minor
Adverse indicators that may pose risks
Increased coverage limits for the insurance policy
Correct Answer
Wrong Answer
5. What factors determine the level of healthcare provided in a country?
The only financial resources available to the government
The geographical size of the country
Population and various other factors
The political stability of the country
Correct Answer
Wrong Answer
6. What governs insurance contracts in India?
Indian Insurance Act, 1872
Indian Contract Act, 1872
Indian Insurance Regulatory and Development Authority Act, 1999
Indian Companies Act, 2013
Correct Answer
Wrong Answer
7. What is a key element in creating satisfied and loyal customers?
Offering discounts and promotions
Building a strong relationship with customers
Providing a wide variety of products
Being available 24/7
Correct Answer
Wrong Answer
8. What is one advantage of the hospital daily cash policy for insurers?
It offers comprehensive coverage for all medical conditions
It provides higher reimbursement rates for expensive treatments
It simplifies the process of claim settlements
It covers pre-existing conditions without any waiting period
Correct Answer
Wrong Answer
9. What is the correct sequence of steps for policy revival?
Submit revival application, present evidence of insurability, evaluate evidence, make payment of overdue premiums
Make payments of overdue premiums, submit revival applications, present evidence of insurability, evaluate evidence
Present evidence of insurability, evaluate evidence, make payment of overdue premiums, submit revival application
Evaluate evidence, submit revival applications, present evidence of insurability, make payment of overdue premiums
Correct Answer
Wrong Answer
10. What is the customer's choice during the renewal of general insurance policies?
They can switch to another company
They cannot renew with the same company
They have to renew with the same company
They have to buy a new policy every year
