# New Kotak Products Ksap & Hs

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Quizzes Created: 1 | Total Attempts: 148
Questions: 20 | Attempts: 148

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This is a quiz for Team PSG - all SMs on changes in our products.

• 1.

### Kotak Smart Advantage Plan is now........................................

Explanation
The given statement suggests that the name of the Kotak Smart Advantage Plan has been changed to Kotak Super Advantage Plan. This implies that the plan has undergone a rebranding or a name change, possibly to better reflect its features, benefits, or positioning in the market.

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• 2.

### The DAB in new KSAP is ..................................

Explanation
The DAB (Death and Accident Benefit) in the new KSAP (Keyman Savings Assurance Plan) is calculated as 3% of the average Fund Value over the last three years. This means that the benefit amount will be determined by taking the average value of the fund over the past three years and multiplying it by 3%. This ensures that the DAB is proportional to the performance of the fund and provides an appropriate level of coverage for any potential death or accident-related expenses.

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• 3.

### Death Benefit in new KSAP is?

• A.

F.V. + FAB

• B.

S.A. + FAB

• C.

S.A. or F.V. whichever is higher + FAB

• D.

S.A. or F.V. whichever is higher +FAB + DAB

C. S.A. or F.V. whichever is higher + FAB
Explanation
The death benefit in the new KSAP is calculated as either the sum assured (S.A.) or the fund value (F.V.), whichever is higher, plus the final additional bonus (FAB). This means that the policyholder's beneficiaries will receive either the predetermined sum assured or the current value of the policy, whichever is greater, along with the final additional bonus.

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• 4.

### What is the FMC in new KSAP?

• A.

1.75%

• B.

2.00%

• C.

1.35%

• D.

2.50%

• E.

2.25%

C. 1.35%
Explanation
The FMC in new KSAP is 1.35%.

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• 5.

### What terms are available with new KSAP?

• A.

3,5,10,15,20,25,30

• B.

5,10,15,20,25,30

• C.

10,15,20,25,30

• D.

10,15,20,30

C. 10,15,20,25,30
Explanation
The terms available with the new KSAP are 10, 15, 20, 25, and 30. This can be determined by comparing the given options with the list of terms provided. The first option includes the numbers 3 and 5, which are not present in the given list. The second option is missing the number 10. The third option includes all the numbers in the given list. The fourth option is missing the number 25. Therefore, the correct answer is 10, 15, 20, 25, and 30.

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• 6.

### What is the Minimum & Maximum S.A. available with new KSAP?

• A.

Min. 5* A.P. & Max. Unlimited

• B.

Min. unlimited & Max. 5 times

• C.

Min. 5*A.P. & Max. term*A.P.

• D.

Min. 10*A.P. & Max. term*A.P.

C. Min. 5*A.P. & Max. term*A.P.
Explanation
The correct answer is "Min. 5*A.P. & Max. term*A.P." This means that the minimum Sum Assured (S.A.) available with the new KSAP is 5 times the Annual Premium (A.P.), while the maximum S.A. is the term (duration of the policy) multiplied by the Annual Premium. This indicates that the S.A. can vary depending on the premium amount and the duration of the policy.

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• 7.

### What are the LPPTs available with KSAP?

• A.

3,5,10

• B.

3,5

• C.

Only 5

• D.

No LPPT available

D. No LPPT available
Explanation
The answer "No LPPT available" suggests that there are no LPPTs (Low Power Passive Tags) available with KSAP (the entity or organization being referred to in the question). This means that KSAP does not have any LPPTs in its inventory or does not utilize them in its operations.

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• 8.

### What are the Allocation Charges in new KSAP?

• A.

2% for < Rs. 36000/- premium

• B.

Nil Allocation Charge

• C.

5% for > Rs. 50000/- premium

• D.

B. Nil Allocation Charge
Explanation
The allocation charges in the new KSAP are based on the premium amount. For premiums below Rs. 36000/-, the allocation charge is 2%. For premiums above Rs. 50000/-, the allocation charge is 5%. However, for premiums between Rs. 36000/- and Rs. 50000/-, the allocation charge is nil, meaning there are no charges applied.

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• 9.

### What are the surrender Charges for new KSAP?

• A.

8-n formula

• B.

4%, 3%, 2%, 1%, Nil for 4th, 5th, 6th, 7th & 8th year onwards

• C.

4%, 2%, Nil for 4th, 5th & 6th year onwards

• D.

Nil Surrender Charge

C. 4%, 2%, Nil for 4th, 5th & 6th year onwards
Explanation
The surrender charges for the new KSAP are 4% for the 4th year, 2% for the 5th year, and no surrender charge starting from the 6th year onwards. This means that if the policyholder decides to surrender the policy within the first three years, they will be charged 4% of the policy value. In the 4th year, the surrender charge decreases to 2% and from the 5th year onwards, there is no surrender charge.

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• 10.

### What is the new name for our Unit Linked Children Plan?

• A.

• B.

• C.

• D.

Explanation
The new name for our Unit Linked Children Plan is Headstart Plan.

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• 11.

### What Loyelty Benefits are available with Headstart plan?

• A.

1%, 1.5% & 2% at the end of 10th, 15th & 20th Year

• B.

3% each at the end of 10th, 15th & 20th Year

• C.

3% at the time of Maturity

• D.

3% at the time of death

C. 3% at the time of Maturity
Explanation
The correct answer is 3% at the time of Maturity. This means that when the Headstart plan reaches its maturity date, the policyholder will receive a loyalty benefit of 3% of the plan's value. This benefit is a form of reward or bonus for staying invested in the plan until the end. It is important to note that this loyalty benefit is only applicable at the time of maturity and not at any other point during the plan's tenure.

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• 12.

### What is the Minimum & Maximum S.A. available with Headstart?

• A.

Min. 10 times and Max. unlimited

• B.

Min. 5 times and Max. Unlimited

• C.

Min. 5 times and Max. term* AP

• D.

Triple Death Benefit i.e. S.A.+F.V.+F.P.

C. Min. 5 times and Max. term* AP
Explanation
The minimum and maximum sum assured (S.A.) available with Headstart is 5 times and term* AP respectively. This means that the minimum amount of coverage a person can get is 5 times their annual premium, while the maximum amount of coverage is determined by multiplying the term of the policy by the annual premium.

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• 13.

### The LPPT available with Headstart is .......................

3 & 5 years
Explanation
The LPPT available with Headstart is for 3 and 5 years.

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• 14.

• A.

Regular 18000; 3 year LPP 25000; 5 year LPP 50000

• B.

Regular or LPP 50000

• C.

Regular 15000; 5 year LPP 50000;3 year LPP 100000

• D.

Regular 25000; 3 & 5 LPP 100000

C. Regular 15000; 5 year LPP 50000;3 year LPP 100000
• 15.

### Kindly tick on the correct Policy Admin Charge for New Headstart Plan.

• A.

• B.

0.25% for premium < 50000; 0.25% for first 50000 & 0.10% for equal & above 50000

• C.

Rs. 65/- p.m.

• D.

0.25% for premium < 25000; 0.25% for first 25000 & 0.10% for equal & above 25000

B. 0.25% for premium < 50000; 0.25% for first 50000 & 0.10% for equal & above 50000
Explanation
The correct answer is 0.25% for premium < 50000; 0.25% for first 50000 & 0.10% for equal & above 50000. This answer is correct because it specifies that for premiums less than 50000, the policy admin charge is 0.25%. For premiums equal to or above 50000, the policy admin charge is 0.25% for the first 50000 and 0.10% for the amount equal to or above 50000.

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• 16.

### What term is available with the Headstart?

• A.

10 to 25

• B.

10 to 30

• C.

10,15,20,25

• D.

10,15.20,25,30

C. 10,15,20,25
Explanation
The available term with the Headstart is 10, 15, 20, and 25.

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• 17.

### Name the two variations available with Headstart.

• A.

Joint Life & Single Life

• B.

Future Protect & Single Life

• C.

Assure Wealth & Single Life

• D.

Future Protect & Assure Wealth

D. Future Protect & Assure Wealth
Explanation
The correct answer is Future Protect & Assure Wealth. These are the two variations available with Headstart.

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• 18.

### What are the surrender Charges after three policy years in Headstart Plan?

• A.

4th - 3%,5th - 2%,6th - 1% Nil

• B.

4th - 10%, 5th - 5%, 6th - Nil

• C.

4th - 4%, 5th - 2%, 6th - Nil

• D.

4th - 100%, 5th - 50%, 6th - Nil

B. 4th - 10%, 5th - 5%, 6th - Nil
Explanation
The surrender charges after three policy years in the Headstart Plan are as follows: 4th year - 10%, 5th year - 5%, and 6th year - Nil. This means that if the policyholder decides to surrender the policy in the 4th year, they will be charged 10% of the policy value. If they surrender in the 5th year, the charge will be 5% of the policy value. However, if they surrender in the 6th year or later, there will be no surrender charges.

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• 19.

### What is the commission Payout in Headstart in case of LPP?

• A.

1st 16%, 2nd & 3rd 7%, 4th to 10th 1%, Nil thereafter

• B.

1st 20%, 2nd & 3rd 10%, 4th to 10th 5%, Nil thereafter

• C.

1st Nil, 2nd & 3rd 50%, 4th to 10th 70%, 100% thereafter

• D.

1st 10%, 2nd & 3rd 3%, 4th to 10th 1%

D. 1st 10%, 2nd & 3rd 3%, 4th to 10th 1%
Explanation
The commission payout in Headstart in case of LPP is as follows: 1st place receives a commission of 10%, 2nd and 3rd place receive a commission of 3%, and 4th to 10th place receive a commission of 1%.

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• 20.

### What is the commission payout in KSAP?

• A.

24%,32%,35%

• B.

25%, 30%

• C.

25%, 30%, 40%

• D.

15%,25%,30%

D. 15%,25%,30%
Explanation
The correct answer is 15%, 25%, 30%. This indicates that the commission payout in KSAP is divided into three tiers: 15% for some transactions, 25% for others, and 30% for a specific set of transactions. This suggests that the commission rates vary depending on the type or value of the transaction.

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• Current Version
• Mar 20, 2023
Quiz Edited by
ProProfs Editorial Team
• Jan 01, 2010
Quiz Created by
Pchathley

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