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Advanced Wealth Management Course (IIBF) - Paper 1

Part II: Ch 2: Risk Management and Insurance Products

Q1.

Which is the first insurance company set up in India?

Metlife India Insurance Co. Pvt. Ltd.

Allianz Bajaj life Insurance Co. Ltd.

Triton Insurance Company Ltd.

Birla Sun Life Insurance Co. Ltd

Q2.

The life insurance business was nationalized in__________.

1956

1957

1955

1958

Q3.

Insurance Regulatory and Development Authority (IRDA) is a ___________ member team.

Q4.

In the first financial year, the total gross premium income written direct for persons in the rural sector is minimum of:

Q5.

A ‘Re-insurance broker’ is an insurance broker who, for remuneration, arranges re-insurance for direct insurers with insurance and re-insurance companies.

False

True

Q6.

(I) In Whole-of-life policies, the premium remains constant throughout the period of insurance. (II) Endowment policies are payable on a specified date or prior to the death of the insured.

Both the statements are correct

Only statement (I) is correct

Only statement (II) is correct

Both the statements are wrong

Q7.

Term insurance policies are usually up to a maximum age of between:

60 and 100 years

70 and 100 years

80 and 100 years

90 and 100 years

Q8.

The minimum capital requirement in Composite broker is:

Rs. 50 lakhs

Rs. 150 lakhs

Rs. 200 lakhs

Rs. 250 lakhs

Q9.

The minimum education required for a corporate insurance executive is:

10th standard

12th standard

Graduate

MBA

Q10.

A licence once issued is valid for a period of _________ years from the date of its issue, unless it is suspended or cancelled.

1 year

2 years

3 years

5 years

Q11.

The most important issue/s to consider when selecting income protection insurance:

The level of income that is required

The waiting period to qualify for a claim

The period over which insurance benefits may be paid

All of the above

Q12.

The minimum capital requirement in Direct broker is:

Rs. 50 lakhs

Rs. 100 lakhs

Rs. 150 lakhs

Rs. 200 lakhs

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