Spot Vehicle Insurance Test For Sre/Am

The Spot Vehicle Due date Register must contain the Name of Customer, Mobile No., and Vehicle Insurance Due date. This information is necessary to keep track of the customers and their vehicles, as well as to ensure that their insurance is up to date. The customer's name and mobile number are important for identification and communication purposes, while the vehicle insurance due date is crucial for monitoring and reminding customers to renew their insurance on time.

The PMS score for vehicle insurance is 5.

The question is asking for the number of photographs required for processing the 4W 'break in' policy renewal. The correct answer is 8. This means that in order to process the policy renewal, a total of 8 photographs are needed.

IDV stands for Insured Declared Value. This term is commonly used in the insurance industry, particularly in the context of vehicle insurance. IDV refers to the maximum amount that an insurance company will pay to the policyholder in the event of a total loss or theft of the insured vehicle. It is calculated based on the current market value of the vehicle and takes into account factors such as depreciation. The higher the IDV, the higher the premium cost for the insurance policy.

No Claim Bonus (NCB) is a term commonly used in insurance policies, particularly in motor insurance. It refers to a discount that is given to policyholders who do not make any claims during a specific period of time. This discount is applied to the premium of the policy when it is renewed. Therefore, the correct answer for the full form of NCB is "No Claim Bonus".

The current maximum NCB value is 50%. This means that a policyholder can receive a maximum discount of 50% on their insurance premium for not making any claims during the policy period. The NCB (No Claim Bonus) is a reward given by insurance companies to policyholders for not filing any claims, encouraging safe driving and reducing the risk for the insurer.

The correct answer is 10%. This means that the general depreciation in the Insured Declared Value (IDV) decreases by 10% on a yearly basis. IDV is the maximum amount that an insurance company will pay in case of a total loss or theft of a vehicle. Depreciation is the reduction in value over time, and in this case, the IDV depreciates by 10% each year.

NCB stands for No Claim Bonus, which is a discount given by insurance companies to car owners who have not made any claims during the policy period. Therefore, NCB belongs to the car owner, as it is a benefit or reward for their responsible driving and lack of claims.

The set of insurance companies currently associated with us includes SBI General, New India, TATA AIG, Future Generalli, Shriram, and Magma.

If vehicle ownership is changed during the year, it will affect the No Claim Bonus (NCB) becoming zero. NCB is a discount offered by insurance companies to policyholders who do not make any claims during the policy period. When the ownership of a vehicle is transferred, the NCB earned by the previous owner cannot be transferred to the new owner. Therefore, the NCB will become zero for the new owner, and they will not be eligible for any discount on their insurance premium.

The correct answer is 4 because in order to renew the policy after a 2-week break, 4 photographs are required.

The customer will get their insurance policy document from the MFIN Branch itself. This means that the branch is responsible for providing the policy document to the customer after they have logged in a spot vehicle insurance policy proposal.

The customer should take the bank cheque in the name of the issuing insurance company. This ensures that the payment is directed to the correct entity and can be processed by the insurance company. Taking the cheque in any other name, such as MIBPL, MSTL, or MFL, would not be appropriate as it may result in delays or complications in the payment process.

The branch takes approximately 30 minutes to renew a regular insurance policy with all correct documents. This suggests that the process is efficient and can be completed quickly, allowing customers to have their policies renewed in a timely manner.

Driving without a valid insurance policy is considered a traffic violation in many countries. The penalty for this offense is typically a fine. In this case, the correct answer is Rs. 2,000/-. This means that if someone is caught driving without valid insurance, they may be required to pay a fine of Rs. 2,000/-. It is important to have valid insurance coverage while driving to ensure financial protection in case of accidents or damages.

IRDA, which stands for Insurance Regulatory and Development Authority, is the regulatory body for insurance in our country. It is responsible for promoting and regulating the insurance industry to protect the interests of policyholders and ensure the growth and development of the insurance sector. IRDA sets guidelines and regulations for insurance companies, monitors their operations, and ensures compliance with the rules. It also resolves grievances and complaints of policyholders and promotes transparency and fair practices in the insurance market.

The question is asking about the number of methods currently available for insurance payment. The correct answer is 3, indicating that there are three different methods available for making insurance payments.

The legal valid documents required for vehicle driving in our country are a driving license, pollution certificate, registration certificate, and vehicle insurance. These documents are necessary to ensure that the driver is legally allowed to operate a vehicle, the vehicle meets the required emission standards, it is registered with the appropriate authorities, and it is insured against any potential accidents or damages.