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IRDA Exam Question Paper

1)  Insurance works on the principle of

a Trust
b Sharing
c Randomness
d All of the above

2 Insurance is legitimate

a when an adverse happening is likely
b When an adverse happening is unlikely
c When an adverse happening is certain
d In all the above three situations

3 Insurance benefits replace

a All physical losses, in full
b All physical losses, partly
c All monetary losses, in full
d The monetary losses, but only to some extent

4 Which one of the following statements is correct?

a People hesitate to buy life insurance because they are not aware of their needs
b People hesitate to buy life insurance because they prefer to enjoy the present
c Both the statements are correct
d Both the statements are wrong

5 Which is the right time for taking life insurance?

a When you are about to get married
b Soon after you have got married
c Just when you are joined a new job
d All the three ‘times’ are right

6 Retention of risk may be done conveniently by

a Large corporations
b Small companies
c Single individuals
d None of the three

7 A valuation is done by a life insurer because

a It is a statutory requirement
b It is necessary to be able to declare dividends to shareholders
c It tells the insurer how well it is managing the business
d All of the above

8 The reason for charging level premiums is

a Risk increases as age increases
b It is convenient to the policyholder
c It is convenient to the insurer
d All the above reasons

9 What does a premium depend upon?

a The place of worship visited by the person to be insured
b The state of health of the policyholder
c The decision of the underwriter
d The report of the agent

10 State which one of the following statements is correct?

a In group insurance, a single policy is issued covering many persons
b A master policy covers servants of a master
c Both the statements above are correct
d Both the statements above are wrong

11 Which one of the following statements is correct?

a In a limited payment policy, there is a maximum limit to the SA
b In a limited payment policy, there is a maximum limit to the term
c Both the statements above are wrong
d Both the statements above are correct

12 Which one of the following statements is true with regard to Children’s policies?

a On vesting, the insured person has an option to change the term of the policy
b On vesting the insured person has an option to increase the SA
c Both the statements above are wrong
d Both the statements above are correct

13 Which of the following could be the basis of the cover in a group policy?

a Height of the life insured
b Age of the life insured
c Size of the insured’s family
d All the three above

14 Which one of the following statements is true with regard to Children’s policies?

a On vesting, the insured person has an option to change the term of the policy
b On vesting the insured person has an option to increase the SA
c Both the statements above are wrong
d Both the statements above are correct

15 Which one of the following statements is correct?

a Every plan of insurance is a combination of two basic plans
b The name given to a plan indicates the benefits available under the plan
c Both the statements above are correct
d Both the statement s above are wrong

16 Which one of the following statements is correct?

a Underwriting is done only when there is a medical examination
b Medical examination is necessary before a policy can be issued
c Both the statements above are correct
d Both the statements above are wrong

17 Which one of the following statements is correct?

a The underwriter determines the premium to be charged
b The underwriter is an employee of the insurer
c Both the statements above are correct
d Both the statements above are wrong

18 Which one of the following statements is correct?

a If the underwriter feels that the risk is more, he will accept at OR
b If the underwriter feels that the risk is more, he may impose a lien
c Both the statements above are correct
d Both the statements above are wrong

19 Which one of the following statements is correct?

a The schedule of a policy is not altered after the policy is issued
b Changes in the terms of the policy are made through endorsements
c Both the statements above are correct
d Both the statements above are wrong

20 The date of issue of the FPR indicates

a The date when the risk effectively begins
b The date when the next premium falls due
c The date when the policy will commence
d None of the above

21 Which one of the following statements is correct?

a In the case of SSS policies, renewal premium receipts are issued
b In the case of SSS policies, FPRs are issued
c Both the statements above are correct
d Both the statements above are wrong

22 Which one of the following statements is correct?

a Assignee is free from the assignor’s obligations under the policy
b A nomination is automatically cancelled when a loan is taken under the policy
c Both the statements above are correct
d Both the statements above are wrong

23 Which one of the following statements is correct?

a The beneficiaries under the MWP Act can be any member of the family
b A policy can be taken under the MMWP Act for the benefit of parents
c Both the statements above are correct
d Both the statements above are wrong

24 Which one of the following statements is correct?

a Foreclosure can be done only with the consent of the policyholder
b Foreclosure can be done only after informing the policyholder
c Both the statements above are correct
d Both the statements above are wrong

25 Which one of the following statements is correct?

a Revivals are not done unless the entire outstanding premium is paid
b Revivals are not done unless the underwriter agrees
c Both the statements above are correct
d Both the statements above are wrong

26 Which one of the following statements is correct?

a Foreclosure action cannot be taken till a notice is served on the policyholder
b When a foreclosure action is taken, nothing is payable to the policyholder
c Both the statements above are correct
d Both the statements above are wrong

27 Which one of the following statements is correct?

a The beneficiaries under the MWP Act can be any member of the family
b A policy can be taken under the MMWP Act for the benefit of parents
c Both the statements above are correct
d Both the statements above are wrong

28 Which one of the following statements is correct?

a A presumption of death is not the same as proof of death
b Presumption of death allows inheritance of property
c Both the statements above are correct
d Both the statements above are wrong

29 When does a claim arise under an insurance policy?

a Whenever the policyholder feels the need for money
b When the insured events happen
c When a premium is not paid
d Whenever any of the three things mentioned above happen

30 Which one of the following statements is correct?

a Maturity claim cheques are paid to the trustees in a MWP Act case
b Maturity claim cheques are paid to the beneficiaries in a MWP Act case
c Both the statements above are correct
d Both the statements above are wrong

31 If a claim is made in January 2007 under a policy, which commenced in May 2002, stating that the life insured had died in April 2004,

a Section 45 of the Act will not apply
b The claim can be treated as an early claim
c Foul play must be suspected
d All the three statements above are correct

32 Which one of the following statements is correct?

a A policy reported to be lost, may actually have been assigned
b A policy has no value after the payment of survival benefits
c Both the statements above are correct
d Both the statements above are wrong

33 Which one of the following statements is correct?

a The foreign exchange regulations apply if the life insured is a non-resident
b The foreign exchange regulations apply if the claimant is a non-resident
c Both the statements above are correct
d Both the statements above are wrong

34 State which of the following statements is correct

a ULIPs provide for flexibility
b ULIPs are better than traditional policies
c Both the above statements are correct
d Both the above statements are wrong

35 State which of the following statements is correct

a In ULIPs, the offer bid spread is the difference between the two prices
b In ULIPs, the offer bid spread, will in some cases be zero
c Both the above statements are correct
d Both the above statements are wrong

36 State which of the following statements is correct

a In ULIPs the insurance cover must be a minimum multiple of the premium
b ULIPs can be surrendered after two years
c Both the above statements are correct
d Both the above statements are wrong

37 State which one of the following statements is correct

a Life insurance is the best savings scheme for all persons
b Life insurance is the best investment scheme for young persons
c Both the statements above are correct
d Both the statements above are wrong

38 Which of the following statements is correct?

a An insurance agent has fixed working hours
b An insurance agent has to mark his attendance in office every day
c An insurance agent works according to his schedule
d An insurance agent cannot do any other work

39 State which one of the following statements is correct

a When vital information is not disclosed, the policyholder is benefited
b When a claim is repudiated, the agent’s trustworthiness is affected
c Both the statements above are correct
d Both the statements above are wrong

40 State which one of the following statements is correct?

a The social sector is not only in the urban areas
b The social sector includes the unorganized sector
c Both the statements above are correct
d Both the statements above are wrong

41 State which one of the following statements is correct?

a The Ombudsman’s authority is limited to claims matters only
b The Ombudsman is not a judicial authority
c Both the statements above are correct
d Both the statements above are wrong

42 State which one of the following statements is correct?

a The tax provisions are the same for all kinds of savings
b The tax provisions are included in the Constitution
c Both the statements above are correct
d Both the statements above are wrong

43 A proposal for SA of Rs. 10 lakhs with DAB for monthly mode under SSS.
Proposer had a previous policy of Rs. 5 lakhs with DAB. Proposal was
accepted with health extra of Rs. 2.75 per thousand SA premium for DAB Re 1 per
thousand. 5% extra for monthly mode. large SA rebate of Rs 2/- per thousand for
1 lakh and above. Tabular premium Rs. 48.20 maximum total SA on which DAB is allowed is Rs. 10/- lakhs.
Find monthly (SSS) premium, rounded off to the next higher rupee
a 4102
b 4121
c 4183
d 4195

44 Find out surrender value on the basis of following data (the answer to
be rounded off to the next lower rupee). SA Rs.30, 000 DOC- 15.6.1992,
Endowment with profit – 30 years
Due date of last premium paid 15-06-2007 mode half yearly
Accrued bonus Rs.750/- per thousand SA. SV factor 23%
a 3670
b 3765
c 8740
d None of these

45 A money back policy for SA. of Rs.50,000/- Matured after 25 years.
Survival benefits of 15% each had been paid at the end of 5th, 10th, 15th,
and 20th years. Bonus had accrued at Rs.965/- per Rs.1000/- SA. Interim bonus
@ Rs.25/- per thousand SA is payable. What is the maturity claim amount?
a 68250
b 69500
c 98250
d 99500

Correct Answers Practice Paper 6

1 d 16 d 31 d
2 a 17 c 32 a
3 d 18 b 33 c
4 c 19 c 34 a
5 d 20 a 35 c
6 a 21 b 36 a
7 d 22 d 37 d
8 d 23 d 38 c
9 c 24 b 39 b
10 a 25 d 40 c
11 c 26 a 41 b
12 c 27 d 42 d
13 b 28 c 43 b
14 c 29 b 44 c
15 a 30 a 45 b

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Discussion

45 comments for “IRDA Exam Question Paper”

  • i m very happy to see the paper plz send me more exam paper

    Posted by Rohit | July 10, 2009, 2:22 am
  • thanks a ton!

    Posted by yatin | September 5, 2009, 9:20 pm
  • please help me with some more IRDA Question papers

    Posted by Sonia singh | September 25, 2009, 7:45 pm
  • Good questions for examination try. Please send me some more questions.

    Thanks
    Rani

    Posted by Rani Tomar | September 26, 2009, 12:10 pm
  • thanks for the question for exam try. please send me some more papers.

    Posted by Dayanand Yadav | September 27, 2009, 8:36 am
  • Thank you yaar..

    Ram
    BM
    BSLI
    9951431505.

    Please send If you have any

    Posted by RAMA GOUD | October 15, 2009, 8:20 pm
  • Respected sir,
    i am preparing for border roads organisation for junior engineer post so please kindly send me previous exam question papers

    Posted by sravan kumar | November 10, 2009, 5:59 pm
  • please help me with some more IRDA Question papers

    Posted by praveenraj | December 11, 2009, 12:38 pm
  • plz send more question paper for preparing tha exams of IRDA

    Posted by praveenraj | December 11, 2009, 12:40 pm
  • will you please upload more latest paper on IRDA exam.
    This will great helpful of our agent.
    Will u please upload more question paper.

    Rahil Ahmad
    Branch Manager
    Future Generali Life Insurance Company

    Posted by Rahil Ahmad | January 2, 2010, 12:39 pm
  • kINDLAY SEND ALL PREVIOUS YEARS irda AGENTA mODEL TEST pAPERS WITH ANSWERS

    Posted by bb | January 8, 2010, 8:52 pm
  • Respected sir,
    i am preparing for border roads organization for sbi po’s post so please kindly send me previous exam question papers

    Posted by siva | January 18, 2010, 7:55 am
  • Wow! It’s very good to prepare for day after tomorrow’s LIC exam.

    Thank you!

    Posted by Kempraj | January 21, 2010, 6:36 pm
  • practice exam

    Posted by sakshi gupta | February 15, 2010, 11:21 am
  • PLEASE SEND THE MORE Q & A IN THE MY MAIL ID FOR TWST

    Posted by RAM CHAND | February 27, 2010, 6:26 pm
  • Pls. send me some more questations for IRDA Agent test.

    Thanks & regards,

    Posted by Rajesh Kumar | March 4, 2010, 3:00 pm
  • i m very happy to see the paper plz send me more exam question paper.

    Regards
    Jayaram
    98451 20299

    Posted by Jayaram | March 5, 2010, 12:59 am
  • Hello,
    I want to become an Insurance agent. I am aware that I have to be IRDA certified to do so.
    My Quests.
    1.How to apply for IRDA exam
    2.Where to obtain study material
    3.What is the examination schedule for a calendar year.
    4. Is there a max and min age restriction for it.

    Help will be greatly appreciated.

    Thank You

    Posted by NAVNEET SINGH | March 7, 2010, 7:52 pm
  • Dear Sir,
    i am preparing for IRDA exam.Tomorrow is my exam.
    I want more questions in Malayalam medium.Can u send this

    Posted by Betty | March 16, 2010, 10:46 pm
  • kindly send me more papers. it is very helpful for exam
    thank you very much

    Posted by NITIN JAIN | March 17, 2010, 7:53 pm
  • Please send me 5 sets of question paper for IRDA examination for agent licence.

    Posted by Anup Chakrabarty | March 17, 2010, 8:58 pm
  • Hello,
    I want to become an Insurance agent. I am aware that I have to be IRDA certified to do so.
    My Quests.
    1.How to apply for IRDA exam
    2.Where to obtain study material
    3.What is the examination schedule for a calendar year.
    4. Is there a max and min age restriction for it.

    Help will be greatly appreciated.

    Thank You

    Posted by amuba singh | March 27, 2010, 9:26 pm
  • please send me 5 set of qn. papers for irda exam for agent licence.

    Posted by SUBRAMANIAN B | March 28, 2010, 7:17 pm
  • sir,
    i want to know taht how to apply in irda as a post of trainer?
    and also which type of requirement we will need?

    Posted by urmilesh tripathi | March 31, 2010, 6:51 pm
  • Pl Send me 10 Sets of IRDA Agent Licence Model Questions For my Online Preparation.

    Posted by Gandhi | April 4, 2010, 9:53 am
  • Dear sir,

    How to i can prepare for IRDA Exam? What is its process. Give me IRDA Exam paper with solution

    Posted by chetan | April 9, 2010, 5:27 pm
  • test papers of life insurance and general

    Posted by uday | April 11, 2010, 5:48 pm
  • Dear Sir

    Please send previous years fire surveyor exam papers

    Posted by krishna | April 13, 2010, 4:04 pm
  • thanks for the question for exam try. please send me some more papers.

    Regards
    s.kanthasamy

    Posted by s kanthasamy | April 30, 2010, 2:55 pm
  • thanks for the question for exam try. please send me 5 year papers.

    Regards
    s.kanthasamy

    Posted by s kanthasamy | April 30, 2010, 2:58 pm
  • Dear Sir/Madam
    i want to apply for irda exam please send me the test papers. So i can do practise for exam.

    nafisa mirka

    Posted by Nafisa Mirkar | May 24, 2010, 1:54 pm
  • Excellent sample paper for mock test and practice. One should attempt it seriously to get confidence for online test.

    Posted by Raj Kumar Malik | June 3, 2010, 4:27 pm
  • i want to write a irda exam..so please send the question papers with answer..

    Posted by karthik.m | June 6, 2010, 2:04 pm
  • I am very happy to see the paper plz send me more exam paper.

    Thanks & Regards

    Irfan Usmani

    Posted by Irfan Usmani | June 6, 2010, 5:52 pm
  • It is good to workout on similar sample papers.
    is this the only sample paper available.
    can you please mail some more test papers

    Posted by S.Nagarajan | June 6, 2010, 10:19 pm
  • i wanna more current question to prepare irda.so it will help me for a good result.

    Posted by laxmi tamta saha | June 15, 2010, 12:31 pm
  • please send me 129 letest set of irda exam.
    thanking you

    Posted by praween rao | June 19, 2010, 8:18 pm
  • i want more exam papers, plz send it as early as posssible

    Posted by samareshwar ruidas | June 25, 2010, 5:14 pm
  • I want to write insurance surveyor(motor)exam. pl send me last 3 years question papers as early as possible.
    Regards
    varadharajan.a

    Posted by varadharajan.a | July 3, 2010, 12:28 pm
  • please sent me last 10 years irda exam papers with solutions….

    Posted by TAPAS PAUL | July 17, 2010, 12:16 pm
  • Plz Send me 10 online Question paper for pre lic exam

    Posted by udaykumar | July 20, 2010, 12:05 pm
  • 1..How to apply for IRDA exam
    2.Where to obtain study material
    3.What is the examination schedule for a calendar year.
    4. Is there a max and min age restriction for it.

    I am working for IDBI Bank Ltd

    Help will be greatly appreciated.

    Posted by sanlatha | July 25, 2010, 8:57 am
  • Dear sir
    i want to apply for irda exam please send me online test papers.
    (only send test papers of life insurance not general insurance)

    Posted by santosh | July 25, 2010, 4:42 pm
  • Can I get IRDA Insurance exam paper in Gujarati ?

    Posted by Nayan Joshi | July 26, 2010, 9:43 am
  • hi

    Pls send the question paper for last 05 yrs -from 2004 to 2009 pls send on urgent basis –as my exam is on 09 of this month–

    Regards

    Abhijeet N

    Posted by Abhijeet Nirmal | July 31, 2010, 6:58 am

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