Prudential Assurance Uganda Ltd
New Financial Sales Consultant Assessment Test Instruction (Read carefully before you start) This is a multiple-choice Assessment Test. Please circle the answer that you consider to be correct. Pass Mark is 60%
- 1.List down the features of the Edusave Policy.
- 2.What are the benefits of Edusave to the client?
- 3.In the event of Death or Permanent Total Disability, Prudential will waive off premiums. Define what you understand by Waiver of Premium.
- 4.A client takes on a 12year EduSave Policy and is making quarterly payments of Ush 2,000,000. What discount will the client receive?
- 5.
- What is the minimum entry age for one to take out a Pru EduSave?
- A.
18 Years
- B.
20 Years
- C.
65 Years
- D.
None of the Above
- 6.A father with 4 children wants to appoint all of them as beneficiaries. Is this acceptable?
- A.
No
- B.
Yes
- C.
Only a maximum of 2 beneficiaries is allowed
- D.
Only a maximum of 3 beneficiaries is allowed
- 7.What does it mean to say that a policy has “lapsed”?
- A.
Non-payment of premium for sometime
- B.
Non-payment of premium for six months
- C.
Non-payment of premium for three consecutive months
- D.
Non- payment of premium beyond 90 days during the term of the policy.
- 8.A policy has been actively paying premiums for 3 and a half years. The policyholder then travels out of the country for 2 years without paying premiums. What benefit can the policyholder access on his return?
- A.
Partial withdrawal
- B.
No benefit
- C.
Surrender value
- D.
Maturity value
- 9.What is the maximum age at entry for someone who wants to take out a Pru Edusave Policy?
- A.
50 Years
- B.
55 Years
- C.
60 Years
- D.
65 Years
- 10.A policyholder, born on 20th September 1985 applies for a policy on 19th August 2015. What is his Age Next Birthday?
- A.
31 Years
- B.
30 Years
- C.
29 Years
- D.
None of the above
- 11.A policyholder aged 24 years applies for a 10-year term policy. Assuming the client wants a Sum Assured of Ushs 20 million, calculate his monthly premium.
- A.
Ugx 171,000
- B.
Ugx 171,680
- C.
Ugx 17,168
- D.
None of the above
- 12.Use the Premium Rates Table below to answer questions 8 to 10 Annual Premium Rates per Ushs 10,000 of Sum Assured Policy Term Age Next Birthday 10 years 12 years 14 years 16 years 18 years 86.46 69.59 51.96 44.12 25 years 85.84 69.06 51.50 43.70 50 years 88.85 71.67 53.80 45.84 In the example above, what would be the annual premium?
- A.
Ugx 2,060,160
- B.
Ugx 2,000,000
- C.
Ugx 171,680
- D.
None of the above
- 13.A policyholder aged 49 years tells you that she wants to pay Ushs 300,000 monthly towards her Pru EduSave plan. She requests you to advise her what the Sum Assured would be for a term of 12 years.
- A.
Ugx 41,858,518
- B.
Ugx 42,000,000
- C.
Ugx 41,900,000
- D.
None of the above
- 14.What bonus does a client get for a 10 year plus policy?
- A.
40%
- B.
20%
- C.
30%
- D.
None of the above
- 15.What risks are covered within the Pru Edusave Policy?
- A.
Only the Risk of Death
- B.
Risk of Death, Total & Permanent Disability & Critical Illness
- C.
Only the Risk of Death & Total & Permanent Disability of the life assured
- D.
Only the Risk of Death & Total & Permanent Disability of the life assured Death and Total & permanent disability of everyone in the policy
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