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Insurance and Finance - General Knowledge Questions
A)
1947
B)
1951
C)
1956
D)
1959

Correct Answer :   1956

A)
By being on time , showing interest and being confident
B)
By showing interest
C)
By being confident
D)
By being on time

Correct Answer :   By being on time , showing interest and being confident

A)
Being open , confident and positive
B)
Presenting yourself appropriately
C)
Being on time always
D)
All of the above

Correct Answer :   All of the above

A)
Health Insurance
B)
Deductible
C)
Coinsurance
D)
Copay

Correct Answer :   Copay

A copayment or copay is a fixed amount for a covered service, paid by a patient to the insurance company before patient receives service from physician

A)
Rupee
B)
Dollar
C)
Euro
D)
Any currency

Correct Answer :   Dollar

A deductible is usually mentioned in Dollar. Often, the deductible on your insurance plan will be a concrete dollar amount, but there are notable exceptions.

A)
Small
B)
Large
C)
Very small
D)
Not significant

Correct Answer :   Large

A)
An underwriting decision where decreased death benefit would be payable
B)
A decision which does not alter the death benefit
C)
An underwriting decision where increased death benefit would be payable
D)
None of the above

Correct Answer :   An underwriting decision where decreased death benefit would be payable

A lien is a legal right granted by the owner of property, by a law or otherwise acquired by a creditor. A lien serves to guarantee an underlying obligation, such as the repayment of a loan. If the underlying obligation is not satisfied, the creditor may be able to seize the asset that is the subject of the lien. A lien is an underwriting decision where decreased death benefit would be payable

A)
Medical Practitioner
B)
Any Doctor
C)
Medical Referee
D)
Medical Consultant

Correct Answer :   Medical Referee

The medical opinion could be taken from Medical Referee. The role of a medical referee is to scrutinise specific information on the circumstances leading to death

A)
Preferred risks
B)
Declined risk
C)
Standard life
D)
Sub-standard life

Correct Answer :   Preferred risks

If a life has an anticipated mortality significantly lower than standard lives and could be charged lower premium the life is a Preferred risks. A preferred risk is a policyholder who is considered significantly less likely to file claims.

A)
How liability is valued
B)
How Assets & Liabilities are valued
C)
How Asset is valued
D)
None of the above

Correct Answer :   How Assets & Liabilities are valued

The surplus in an insurance company is a function of how Assets & Liabilities are valued. Surplus is also known as net worth or the difference between the market value of assets and the present value of the liabilities and their relationship