ENGLISH IC38 MOCK TEST : https://www.workwithlic.

com/ic38/
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Q (1): A person gets hit by a car and is taken to a hospital where he dies of heart attack. Proximate cause
of death in this case would be ______ .

1.Heart attack

2.Accident

3.Both (This is the correct answer)

4.None of the above

Q (2): Identify the two principles which complement each other?

1.Insurable interest and proximate cause

2.Principle of indemnity and principle of subrogation

3.Principle of uberrima fides and principle of contribution

4.Principle of indemnity and principle of proximate cause (This is the correct answer)

Q (3): Which of the following does not fall under the purview of IRDA ?

1.Oriental Insurance of India

2.National Insurance Co. of India

3.Postal life Insurance (This is the correct answer)

4.Life Insurance Co. of India

Q(4): Mr. A earns Rs.200000 a year and spends Rs. 50000 on himself. Calculate human life value. Assume
interest rate of 9%.

1.1666667 (This is the correct answer)

2.1222222

3.1333333

4.1555557
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Q (5): Insurance is a process by which -

1.Risks of a few are transferred to many

2.Risks of many are transferred to few (This is the correct answer)

3.Risks of any are transferred to many

4.Risks of few are transferred to few

Q (6): Which among the following can be provided as a rider?

1.Term insurance (This is the correct answer)

2.Whole life insurance

3.Variable insurance

4.Money back plans

Q (7): Pick the odd one out with respect to financial planning.

1.Investing

2.Portfolio management (THIS is correct answer)

3.Retirement planning

4.Tax & estate planning

Q (8): Shop insurance covers _______ .

1.Dishonest acts of employees (This is the correct answer)

2.Dishonest acts of insured

3.Dishonest acts of customers

4.Dishonest acts of money lenders

 ENGLISH IC38 MOCK TEST : https://www.workwithlic.com/ic38/
__________________________________________________________________
Q(9): As per the ESIS - Employees State Insurance Scheme, the employee contributes ____ of pay roll.

1.0.0175 (This is the correct answer)

2.0.5

3.0.125

4.0.25

Q(10): With regards to judgment method of underwriting , which of the following statements is FALSE ?

1.In judgment method the underwriter assigns positive or negative rating points to adverse factors
(This is the correct answer)

2.Judgment method is especially used in case of complex cases

3.Under judgment method subjective judgement is used

4.In judgment method the company may seek expert opinion of medical doctor