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Advanced Wealth Management Course (IIBF) - Paper 4

Part I: Ch 2: Insurance Organization, Structure and Functions

Q1.

The stage where all the experts analyze the feasibility of the new product that has been selected for detailed scrutiny is called:

a. Idea Generation and selection

b. Comprehensive Business Analysis

c. Technical Design

d. Implementation

Q2.

In which stage, the actual distribution of the new product is commenced?

Implementation

Technical Design

Product Introduction

Sales Monitoring & Review

Q3.

(I) A broker primarily represents the company and is expected to represent it correctly. (II) An Agent may be said to represent the customer.

Both the statements are correct

Only statement (I) is correct

Only statement (II) is correct

Both the statements are wrong

Q4.

The primary function of an agent is to procure business for the insurance company.

True

False

Q5.

The marketing channel/s in insurance is /are:

Selling through Marketing Intermediaries

Selling through financial institutions

Direct marketing

All of the above

Q6.

(I) Underwriting is a process of screening and selecting proposals for granting of insurance. (II) Underwriting helps to ensure equity among policy holders.

Both the statements are correct

Only statement (I) is correct

Only statement (II) is correct

Both the statements are wrong

Q7.

An Actuary is a person who has passed specialized examinations conducted by the Institute of Actuaries of India.

True

False

Q8.

(I) Actuary apply the principles of probability and compound interest to derive appropriate premiums that are adequate to pay the claims and meet the company’s other costs. (II) Actuary conducts a periodical valuation of the insurer’s assets and liabilities.

Both the statements are correct

Only statement (I) is correct

Only statement (II) is correct

Both the statements are wrong

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