IC38 -English New Syllabus IC38 Mock Test-39
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. How is the cost of implementing PMJAY shared?
Fully funded by the Central Government
Fully funded by the State Governments
Shared between the Central and State Governments
Funded by insurance companies
Correct Answer
Wrong Answer
2. In the case of health insurance policies, what declaration is typically included in the proposal form?
Declaration of the insured's health conditions
Declaration of previous insurance history
Declaration of having read and agreed to the prospectus
Declaration of payment of premiums in instalments
Correct Answer
Wrong Answer
3. What are some examples of factors that can impact the risk in personal lines insurance?
The proposer's favorite hobbies
The proposer's astrological sign
The proposer's genetic makeup
The nature of the proposer's occupation or profession
Correct Answer
Wrong Answer
4. What are the three types of risk events or situations based on the extent of damage likely to be suffered?
Catastrophic, Marginal/Insignificant, Moderate
Marginal/Insignificant, Minor, Catastrophic
Critical, Catastrophic, Marginal/Insignificant
Significant, Marginal/Insignificant, Minor
Correct Answer
Wrong Answer
5. What does the education benefit offered in personal accident insurance cover?
Reimbursement of tuition fees for the policyholder's children
Scholarships for the policyholder's dependents
A fixed sum provided for educational purposes in the event of the policyholder's death or disability
Educational resources and support for the policyholder's family
Correct Answer
Wrong Answer
6. What is an asset?
Types of liability
A type of insurance
A type of property that yields value or a return
Types of debt
Correct Answer
Wrong Answer
7. What is solicitation in the context of insurance?
A ready-made product like a packet of biscuits or a bar of chocolate
Something that can be purchased without professional advice
A process of approaching a prospect to understand their insurance needs and providing professional advice
A process of selecting appropriate insurance products without discussing needs
Correct Answer
Wrong Answer
8. What is the difference between conditional assignment and absolute assignment?
Conditional assignment allows the assignor to reclaim the policy upon maturity or the assignee's death, while absolute assignment transfers all rights to the assignee without reversion.
Conditional assignment requires the consent of the assignor, while an absolute assignment does not.
Conditional assignment is more commonly used in commercial situations, while absolute assignment is used for personal policies.
Conditional assignment is reversible, while absolute assignment is permanent.
Correct Answer
Wrong Answer
9. What is the law of large numbers?
A law that ensures the economic feasibility of insurance
A law that states insurers must remain solvent
A law that states the larger the size of the pool of risks, the actual average of losses would be closer to the estimated or expected average loss
A law that assesses the extent to which assets are available to cover an insurer's commitments towards future payments.
Correct Answer
Wrong Answer
10. What is the principle of personal effectiveness related to listening skills?
"First try to understand before being understood"
"Don't waste your time on things that don't matter"
"Always have the last word in a conversation"
"Never acknowledge the other person's feelings"
