Test Your Traditional Plan Knowledge

34 Questions | By Firstlife | Updated: Mar 21, 2022 | Attempts: 230

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1.

Which age proof cannot be accepted as STD age proof?
- A.
  
  LIC policy kit
- B.
  
  School certificate
- C.
  
  Birth certificate
- D.
  
  PAN card
- E.
  
  All of the above.
2.

Which age proof cannot be accepted as STD age proof?
- A.
  
  LIC policy kit
- B.
  
  School certificate
- C.
  
  Birth certificate
- D.
  
  PAN card
- E.
  
  All of the above.
3.

What does follow up code KY2 specify
- A.
  
  AML-Address proof required.
- B.
  
  AML-Identity proof required
- C.
  
  AML-Income proof required
- D.
  
  AML-Photo required
- E.
  
  None of the above
4.

What is the abbreviation for HUF?
- A.
  
  Hindu United Family
- B.
  
  Hindu Undividing Factor
- C.
  
  Hindu Undivided Forever
- D.
  
  Hindu Undivided Family
- E.
  
  None of the above
5.

Which of the following factors are not allowed as per the Underwriting features of Term Plan?
- A.
  
  LA/Proposer concept
- B.
  
  Grand daughter is the nominee
- C.
  
  Premium amount 5000/- annually
- D.
  
  Smoker concept
- E.
  
  All of the above
6.

In case the client has agricultural income and does not have a PAN Card (non-mandatory), what stand will underwriting take for issuance of the policy? The premium in this case is Rs 1, 00,000/-
- A.
  
  Underwriting will insist on a PAN card application
- B.
  
  Declaration in lieu of PAN card may be submitted along with copy of bank statement
- C.
  
  Form 16 is required as an alternative
- D.
  
  Policy cannot be issued
7.

What does Tier 2 medical include?
- A.
  
  MER + RUA + FBS + Lipids
- B.
  
  MER + RUA
- C.
  
  MER + RUA + FBS + Lipids + ECG + HIV
- D.
  
  TMT
8.

In case of monthly mode, what would be the initial premium amount to be collected from the customer?
- A.
  
  3 months instalment premium
- B.
  
  2 months instalment premium
- C.
  
  1 months instalment premium
- D.
  
  6 months instalment premium
9.

In case, the client opts for a sum assured of Rs 50, 00,000, which calls for mandatory medicals and he has a mentioned his occupation as Cash receiver at Bank of Baroda. What will be the Underwriting action on this case in terms of staff discount?
- A.
  
  Give staff discount
- B.
  
  Call for certificate from employer
- C.
  
  Do not allow staff discount.
- D.
  
  Call for the photo of client while working in bank as substantial evidence
- E.
  
  None of the above.
10.

Which of the following product requires Age proof as a mandatory document
- A.
  
  India First Simple benefit Plan
- B.
  
  India First Mahajeevan Plan
- C.
  
  India First Term plan
- D.
  
  All of the above
- E.
  
  None of the above
11.

Where premium amount is more than Rs. 1, 00,000 per annum, which of the following documents will you take from the customer?
- A.
  
  Identity proof, Residence proof, Income proof, Pan card
- B.
  
  Identity proof, Residence proof, Pan Card
- C.
  
  Residence proof, Income Proof, Pan Card
- D.
  
  Identity proof, Residence proof, Income Proof
12.

What is the maximum age at entry for Term Plan?
- A.
  
  55 yrs
- B.
  
  60 yrs
- C.
  
  50 yrs
- D.
  
  65 yrs
13.

Which questionnaire can be used to get the detailed information of the client employed in Indian Air Lines?
- A.
  
  Aviation Questionnaire
- B.
  
  Armed force Questionnaire
- C.
  
  NRI Questionnaire
- D.
  
  Occupation Questionnaire
14.

If a client does not have any evidence of age, what suggestion you would give to the BDM?
- A.
  
  Do not login the policy
- B.
  
  Collect only age extra consent
- C.
  
  Collect self declaration of age proof in form of affidavit with age extra consent
- D.
  
  Age proof not required
- E.
  
  None of the above
15.

What is the abbreviation for WOP?
- A.
  
  Waiver of premium
- B.
  
  Waive off premium
- C.
  
  Waiving on the premium
- D.
  
  Waiver offered on Premium
16.

Driving licence can be considered as Non Std age proof for
- A.
  
  12th pass above
- B.
  
  Graduate
- C.
  
  Below 10th
- D.
  
  Diploma holder
17.

Where does Underwriting department function?
- A.
  
  Branch
- B.
  
  Seshasai
- C.
  
  Baroda corporate centre
- D.
  
  Goregaon Office
18.

How much time does it take for Application tracker to update the status of application?
- A.
  
  24 hrs
- B.
  
  5 hrs
- C.
  
  Depends upon the person who updates
- D.
  
  It’s a real time update
- E.
  
  None of the above
19.

If a customer has never undergone any schooling and cannot read or write. He is considered
- A.
  
  Uneducated
- B.
  
  Illiterate
- C.
  
  None of the above
- D.
  
  Both of the above
20.

What is the minimum and maximum age at entry under IndiaFirst Maha Jeevan Plan ?
- A.
  
  21 years and 65 years
- B.
  
  5 years and 65 years
- C.
  
  18 years and 55 years
- D.
  
  5 years and 55 years
21.

What do you mean by interim bonus under IndiaFirst Maha Jeevan Plan?
- A.
  
  Interim bonus is declared annually and is accrued to be paid out at the time of maturity.
- B.
  
  Interim bonus is payable for those plans that mature or result in a death claim in between two bonus declaration dates
- C.
  
  Interim bonus also known as a persistency bonus, is a bonus paid to indicate an overall performance of a participating plan and is payable at the time of maturity or death of the life assured
- D.
  
  Interim bonus is calculated as a percentage of the sum assured and all previously accrued bonuses
22.

What is the minimum amount payable to the customer in case he / she surrender IndiaFirst Maha Jeevan Plan on the last plan year?
- A.
  
  70% of total premiums paid
- B.
  
  85% of total premiums paid
- C.
  
  90% of total premiums paid
- D.
  
  60% of total premiums paid
23.

What happens in case the life assured commits suicide under IndiaFirst Maha Jeevan Plan? a) We will pay 80% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of risk commencement date. b) We will pay higher of surrender value or 80% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of revival/ re-instatement. c) We will pay 90% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of risk commencement date / revival / reinstatement d) We will pay 70% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of risk commencement date / revival / reinstatement
- A.
  
  Option a, b
- B.
  
  We will pay higher of surrender value or 80% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of revival/ re-instatement.
- C.
  
  We will pay 90% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of risk commencement date / revival / reinstatement
- D.
  
  We will pay 70% of the total premium paid to the nominee/ appointee/ legal heir, if the life assured commits suicide within 12 months from the date of risk commencement date / revival / reinstatement
24.

What are the risks that a human life is exposed to, that are covered under life insurance? a) Risk of illness b) Risk of premature death c) Risk of accidents d) Risk of unemployment e) Risk of living too long.
- A.
  
  Option a, b, c, d
- B.
  
  Option a, b, c, e
- C.
  
  Option a, b, c, d, e
25.

Which of the below statements are incorrect regarding the IndiaFirst Simple Benefit Plan? a) There is no maturity or survival benefit payable under this plan. b) This is a participating, non linked endowment plan. c) Loans are available upto 90% of the Surrender Value. d) This plan offers settlement option for a period of 5 years on maturity
- A.
  
  Option a, c, d
- B.
  
  Option a, b, d
- C.
  
  Option a, d
- D.
  
  All of the above