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IRDA General Insurance Agent Exam Solved Question Paper With Answers

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Insurance Institute of India conducts every year an all India based competitive exam for recruitment of Insurance agents and is known by the name of IRDA exam or Insurance Regulatory and Development Authority exam. The basic requirement to sit for the exam is that he or she must have cleared his class 12th from a recognized university or board.

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IRDA General Insurance Agent Exam Solved Question Paper With Answers

CHAPTER 1

 1). Out of 400 houses, each valued at Rs.20,000, 4 houses get burnt every

year on an average resulting in a loss of Rs.80,000. What should be

the annual contribution of each house owner to make good this loss

  1. a) Rs.100/- b)Rs.200/-     c) Rs.80/-    d) Rs.400/-

2). Which of the following statements is true

1: Insurance prevents the losses from happening

2: Insurance spreads the losses amongst the insureds

  1. Only statement 1
  2. Only statement 2
  3. Both statements
  4. Neither of the statements

3: Which of the following is NOT the correct reason insurer requires material information.

  1. to decide about acceptance
  2. to fix the rate of premium
  3. to fix the sum insured
  4. to fix terms and conditions of cover

4): If there is no insurable interest the insurance contract becomes

  1. unenforceable in a court of law
  2. illegal
  3. void
  4. voidable

5: Insurable interest is NOT always required at the time of taking the policy

  1. fire insurance
  2. marine hull insurance
  3. marine cargo insurance
  4. burglary insurance

6: Consent of insurers is NOT required for the assignment of

  1. marine hull policies
  2. marine cargo policies
  3. fire policies
  4. burglary policies

7: Agreed value policies are issued for

  1. marine cargo
  2. marine hull
  3. marine cargo and hull
  4. fire insurance on high valued machinery

8: Subrogation condition does not appear in

  1. fire policy
  2. marine cargo policy
  3. burglary policy
  4. baggage policy

9: Which of the following does NOT affect the amount of loss payable under the policy

  1. breach of utmost good faith
  2. salvage
  3. pro-rata average
  4. ‘excess’ clause

10: Insurance contracts are NOT gambling transactions because

  1. they are based on insurable interest
  2. the policy is stamped
  3. full premium is paid
  4. all material facts are disclosed

11: When there is fraudulent breach of utmost good faith the insurance contract becomes

  1. unenforceable in a court of law
  2. illegal
  3. void
  4. voidable

12: Which of the following statements is true or false

1: No claim can be paid under an illegal policy

2: Claim can be paid, at the option of the insurer under a void policy

  1. 1 is true
  2. 2 is true
  3. both 1 and 2 are true
  4. both are false

13: If there is a non-disclosure of a material fact due to oversight, the insurance contract becomes

  1. void
  2. voidable
  3. illegal
  4. invalid

14: The principle of utmost good faith requires the proposer to disclose material facts

  1. which he knows
  2. which he ought to know
  3. which he knows and ought to know
  4. none of the above

15: Which of the following statements is true

1: The proposer need not disclose facts which he considers as not material

2: Facts which are of common knowledge need not be disclosed

  1. 1 is true
  2. 2 is true
  3. both are true
  4. both are false

16: Transfer of rights and liabilities of an insured to another person who has insurable interest is known as

  1. consideration
  2. subrogation
  3. assignment
  4. endorsement

17: Which of the following principles prevents an insured from making a profit out of his loss

  1. proximate cause
  2. pro-rata average
  3. indemnity
  4. insurable interest

18: In which of the following insurances the principle of indemnity is modified

  1. public liability
  2. fidelity guarantee
  3. marine cargo
  4. baggage insurance

19: An insured cannot recover more than his actual loss because of

  1. under-insurance
  2. excess clause
  3. principle of indemnity
  4. franchise clause

20:   Which of the following is NOT a contract of indemnity in the strict sense

  1. mediclaim insurance
  2. personal accident insurance
  3. fidelity guarantee
  4. burglary insurance

21: The principle of indemnity is applied through deduction

  1. for under insurance
  2. for depreciation
  3. under franchise clause
  4. under excess clause (b)

22: When there are several policies on the same subject-matter, each insurer pays only a proportion of the loss. This is known as

  1. pro-rata average
  2. franchise
  3. contribution
  4. subrogation ©




CHAPTER 3

23: How much is the amount of claim payable, if sum insured is Rs.2 lakhs, the ‘excess’ limit is Rs.20,000/- and the loss is Rs.25,000.

  1. 2,000
  2. 25,000
  3. 15,000
  4. 5000 (d)

24: What is the amount of claim payable if the loss is Rs.8000/- under a policy with a sum insured of Rs.1 lakh and excess limit is Rs.10,000/-

  1. nil
  2. 10,000
  3. 8000
  4. 2000 (a)

25: A policy with a sum insured of Rs.1 lakh is subject to a ‘franchise’ limit of Rs.10,000/- . What is the amount payable if the loss is Rs.15,000/-

  1. 15,000/-
  2. 5,000
  3. 25,000/-
  4. Nil (a)

26: A policy with a sum insured of Rs.1 lakh is subject to a ‘franchise’ limit  of Rs.10,000/-. What is the amount of claim payable if the loss is Rs.5,000/-

  1. 10,000
  2. 15,000
  3. 5,000
  4. Nil (d)

 

27: In which of the following clauses of the ‘scheduled’ form of policy, the parties to the contract are mentioned

  1. signature clause
  2. operative clause
  3. recital clause
  4. warranties clause ©

28: In which of the following clauses of the ‘scheduled’ form of policy references is made to the sum insured or limit of liability.

  1. recital clause
  2. operative clause
  3. signature clause
  4. warranties clause (b)

29: If a warranty is breached the policy becomes

  1. void
  2. voidable
  3. invalid
  4. unenforceable in a court of law            (b)

30: Certificates of insurance are issued in

  1. marine hull insurance
  2. marine cargo insurance
  3. engineering insurance
  4. workmen’s compensation insurance (b)

31:  Renewal notice is issued because

  1. it is required under the insurance act
  2. of IRDA regulations
  3. it is a healthy business practice
  4. it is provided by policy conditions ©

 


CHAPTER   4

32: Which of the following is paid out of ‘pure premium’

  1. losses
  2. agency commission
  3. expenses of management
  4. unexpected heavy losses (a)

 

33: To arrive at final rate by loading the pure rate which of the following is NOT taken into account

  1. past losses
  2. unexpected heavy losses in the future
  3. margin for expenses of management
  4. margin for profits (a)

34: After withdrawal if tariffs w.e.f. 1.1.2007,issurers cannot charge their own rates for which of the following classes of insurance.

  1. fire insurance
  2. engineering insurance
  3. motor third party insurance
  4. workmen’s compensation insurance ©

 

35: Which of the following statements is true
1: Insurers charge for motor third party policies rates of premium fixed by IRDA

2: Insurers can charge higher rates based on their own past loss experience

  1. a) 1 is true    b) 2 is true       c) both are true       d) both are false                  (a)

 

36: Under IRDA guidelines which of the following policies fall under exposure rated products

  1. earthquake risk
  2. policies with a sum insured of 2500 crores or more at one location for material damage
  3. policies with a sum insured of Rs.2500 crores or more at one location for combined material damage and business interruption
  4. liability insurance(Rs.100 crores or more per event) (a)

 

 


CHAPTER    5

37: As per the insurance act,1938(as amended) an insurer has to obtain a report  from a licensed surveyor if the loss equals or exceeds

  1. 15,000
  2. 20,000
  3. 25,000
  4. 50,000 (b)

 

38: As per general insurance business(nationalization) amendment act 2002,general insurance corporation of India shall carry on

  1. reinsurance business only
  2. overseas reinsurance business only
  3. aviation insurance business only
  4. administration of motor third party insurance pool only (a)

 

39: An insurance agent whose licence has been cancelled by the designated person cannot apply for fresh license unless a period  of —– years has elapsed from the date of such cancellation

  1. 3 years
  2. 4 years
  3. 5 years
  4. 6 years ©

40:Which of the following is not a function of a direct broker as per IRDA regulations

  1. advise clients on appropriate cover and terms
  2. submit insurers premium quotation to client
  3. pay premium to insurers on behalf of client
  4. assist in negotiation of claims ©

 

41: Which of the following statements is true

1: code of conduct does NOT apply to insurance brokers

2: code of conduct does NOT apply to surveyors and loss assessors

  1. 1 is true
  2. 2 is true
  3. both are true
  4. both are false (d)

 

42: Under IRDA regulations it is the duty of an insurer to furnish to the insured free of charge a copy of the proposal form. Within ——-days of the acceptance of a proposal

  1. 7 days
  2. 15 days
  3. 30 days
  4. 45 days        ©

43: As per IRDA regulations a surveyors has to be appointed within ——- hours/days of receipt of claim intimation from the insured

  1. 24 hours
  2. 72 hours
  3. 7 days
  4. 15 days (b)

 

44: As per IRDA  regulations surveyors shall submit the survey report to the insurer within —–days of his appointment

  1. 15 days
  2. 30 days
  3. 45 days
  4. 60 days (b)

 

45: Insurer shall, within a period of —– days of receipt of survey report, offer a settlement of claim to the insured

  1. 15 days
  2. 30 days
  3. 45 days
  4. 60 days (b)

 

46: Rejection of claim by the insurer shall be communicated to the insured within a     period of —– days from the receipt of the survey report

  1. 15 days
  2. 30 days
  3. 45 days
  4. 60 days (b)

 

47: On acceptance of offer of settlement by the insured, insurer shall make the payment within —–days from the date of acceptance of offer

  1. 7 days
  2. 10 days
  3. 15 days
  4. 30 days (a)

 

48: An insurer shall respond within —– days of receipt of communication from policyholders in matters of servicing under the policy

  1. 3 days
  2. 7 days
  3. 10 days
  4. 15 days ©

 

49: As per IRDA regulations, the remuneration to the micro-insurance agent for non-life insurance business shall not exceed —–% of premium

  1. a) 5 b)10       C)15      d)20                                                   ©

 

50: A district forum under  the consumer protection act can entertain a complaint where the compensation claimed is less than Rs.—– lakhs

  1. 10 lakhs
  2. 20 lakhs
  3. 30 lakhs
  4. 50 lakhs                                                      (b)

51: The national commission under consumer protection act can entertain a complaint where the compensation claimed exceeds Rs.—-

  1. 25 lakhs
  2. 50 lakhs
  3. 75 lakhs
  4. 1 crore                                      (d)

52: An appeal against the order of the national commission can be made within a period of —– days from the date of order

  1. 30 days
  2. 45 days
  3. 60 days
  4. 90 days (a)

 


CHAPTER   6

53: Which of the following is not insured under standard fire & special perils policy?

  1. goods in factories
  2. goods in open
  3. goods in transit by rail/road
  4. goods in godowns                                                          ©

54: The terms ‘fire’ under the fire policy means

  1. natural heating
  2. burning by order of public authority
  3. spontaneous combustion
  4. accidental ignition                    (d)

55: Which of the following meanings of aircraft damage is NOT correct

  1. damage by aircraft
  2. damage by other aerial devices
  3. damage by pressure waves
  4. damage by other space devices  ©

56:Terrorism cover for industrial risks is subject to a deduction of

  1. 5% of total sum insured
  2. 0% of total sum insured
  3. 0% of total sum insured
  4. 0% of total sum insured (a)

57: Which of the following is NOT impact damage covered under standard fire and special perils. Visible physical damage by direct contact with

  1. any road vehicle
  2. any rail vehicle
  3. insured’s own forklift on the premises
  4. any animal                                     ©

58: Which of the following is NOT covered under standard fire and special perils policy

  1. cyclone
  2. hurricane
  3. earthquake
  4. flood ©

59: The deductible for perils other than act of god perils under standard fire and special perils policy is

  1. 5,000/- for each and every loss
  2. 10,000/- for each and every loss
  3. 15,000/- for each and every loss
  4. 20,000/- for each and every loss                    (b)

60: The standard fire and special perils policy automatically covers works of art for an amount not exceeding

  1. 5,000/-
  2. 10,000/-
  3. 20,000/-
  4. 25,000/- (b)

 

 

61: Which of the following statements is true

1: All disputes regarding claim under the fire policy are to be referred to a civil court.

2: disputes regarding the amount of claim payable are to be referred to arbitration

  1. 1 is true
  2. 2 is true
  3. both are true
  4. both are false (b)

62: The maximum limit of cover under architects ‘fees’ add-on cover is —–% of the adjusted loss

  1. a) 2.5% b)5.0%      c)7.5%      d)10.0%                ©

63: The sum insured under debris removal add-on cover cannot exceed —–% of the total sum insured under the fire policy

a)5%     b)10%     c)15%     d)20%                     (b)

64: Which of the following is covered under fire policy at extra premium

  1. impact damage
  2. bush fire
  3. forest fire
  4. subsidence ©

65: According to policy condition the fire policy ceases cover if the building insured becomes unoccupied for more than

  1. 15 days
  2. 30 days
  3. 45 days
  4. 60 days (b)

66: Under fire policy pro-rata average applies when there is

  1. double insurance
  2. over insurance
  3. under insurance
  4. subrogation ©

67: If liability for a claim under the fire policy is disclaimed by the insurer, the insured has to file a suit in a court of law within —– months of the date of disclaimer

  1. 6 months
  2. 12 months
  3. 24 months
  4. 36 months (b)

68: Which of the following perils can be an ‘add-on’ cover at extra premium under the standard fire and special perils policy

  1. flood
  2. explosion
  3. earthquake
  4. cyclone ©

69: Debris removal expenses are covered upto ——% of the claim amount under standard fire and special perils policy

  1. a) 1 % b) 2%    c)3%     d)4%                                     (a)

70: Architect’s fees are covered upto ——-% of the claim amount under standard fire and special perils policy

  1. a) 1 % b)2%     c)3%      d)4%                               ©

71: Which of the following statements is  true

As per fire policy condition on the happening of a loss

1: the insurers have a right to take possession of the premises where the loss has occurred

2: the insured can abandon the damaged property to the insurers

  1. 1 is true
  2. 2 is true
  3. both are true
  4. both are false (a)

72: Under fire policy sum insured is Rs.1,00,000/- , loss is Rs.60,000/- , value of property at the time of loss value                             Rs.2,00,000/- .

What is the amount of loss payable

  1. 40,000/-
  2. 30,000/-
  3. Nil
  4. 60,000/- (b)

73: Which of the following is NOT covered under spoilage material damage extension

  1. loss of stock in process
  2. loss of stock in godowns
  3. damage to machinery
  4. damage to containers and equipment (b)

74: Escalation clause added to the fire policy allows automatic regular increase not exceeding ——% in sum insured throughout the period of the policy

  1. a) 5% b) 10%      c) 25%      d)50%                           ©

75: Which of the statements is true or false under fire insurance

1: escalcation clause applies to buildings and machinery only

2: escalcation clause applies to fluctuating stocks

  1. statement 1 is true
  2. statement 2 is true
  3. both statements are true
  4. both statements are false (a)

76: The maximum retention of premium under fire declaration policy is ——% of the annual premium

  1. a) 10% b)25%     c)50%      d)75%                                    ©

77: Sum insured(provisional) under fire declaration policy is Rs.100,00,000/- Rate of premium is Re.1.00 per mile. Average sum insured is Rs.50,00,000/-

The refund premium is

  1. a) Rs.5000/- b) Rs.6,000/-       c) Rs.10,000/-      d)nil                                 (a)

78: Under which of the following circumstances market value only is payable under fire reinstatement value policy

  1. insured is unwilling to reinstate
  2. heavy under insurance
  3. breach of warranty
  4. breach of utmost good faith (a)

79: Which of the following is correct in relation to fire reinstatement value policy

1: depreciation  applies to claims

2: pro-rata average applies

  1. a) 1 is true b) 2 is true      c) both are true       d) both are false                        (b)

80: Which of the following statements is correct

Fire reinstatement value policy is granted on

1: Buildings and machinery only

2: Stocks only

  1. Statement 1 is correct
  2. Statement 2 is correct
  3. Both statements are not correct
  4. Both statements are correct (a)

81: Of the following which is  an optional cover under industrial all risks policy

  1. machinery breakdown policy
  2. electronic equipment policy
  3. business interruption(machinery breakdown)
  4. business interruption( fire and special perils) ©

82: Gross profit, in the context of consequential loss(fire) policy means:

  1. Turnover minus variable and standing charges
  2. Net profit and cost of production
  3. Net profit and standing charges
  4. Net profit and variable charges ©

83: Turnover is Rs.10 lacs. Cost of production Rs.7 lacs. Fixed overheads Rs.2 lacs. Calculate the net profit for consequential loss(fire) policy

  1. a) 1 lac b) 3 lacs     c) 5 lacs      d) 8 lacs                                (a)

84: Which of the following statements is true

1: The sum insured under consequential loss(fire) policy should be equal to gross profits of the indemnity period selected.

2: The sum insured should be equal to the net profits of the indemnity period selected.

  1. a) 1 is true b) 2 is true    c) both are true      d) both are false                     (a)

85: Annual gross profit is Rs.1,20,000/-. Calculate the sum insured under consequential loss(fire) policy for a period of 9 months

  1. a) Rs.60,000/- b)Rs.90,000/-      c)Rs.1,20,000/-    d)Rs.1,80,000/-      ©




CHAPTER   7

86:Which of the following is NOT covered under institute cargo clauses©

  1. standing of vessel
  2. washing overboard
  3. collision of vessel
  4. jettison (b)

87: Malicious damage is automatically covered under

  1. ICC(A) clauses
  2. ICC(B) clauses
  3. ICC© clauses
  4. Not covered under any of the above (a)

88: Which of the following exclusios does NOT appear under ICC(A)  clause

  1. inadequate packing
  2. inherent vice
  3. malicious damage
  4. loss by delay ©

89: Which of the following statements is true

1: The duration of cover for strikes, riot and civil commotion applies during the entire voyage on a warehouse to warehouse basis

2: The duration of cover for strike, riot and civil commotion applies only when the goods are waterborne and not on land

  1. a) 1 is true b) 2 is true    c) both are true    d) both are false                 (a)

90: Under institute cargo clause(AIR) the period of cover after unloading of cargo from the aircraft at the final place of discharge is limited to —–days

  1. a) 15 days b)30 days    c)45 days     d) 60 days                   (b)

91: Under inland transit(rail/road) clause B on payment of extra premium

1: war risks can be covered

2: strike,riots and civil commotion risks can be covered

  1. a) 1 is true b) 2 is true    c) both are true      d) both are false        (b)

92: Under inland transit(rail/road) clause B & A, the duration of cover terminates after expiry of ——days after arrival of the railway wagon at the final destination railway station

  1. a) 3 days b) 7 days    c)10 days     d) 15 days                     (b)

93: The basis of valuation adopted under marine open cover is the prime cost of goods, costs of freight and insurance plus —-% to cover profits

  1. a) 5% b)10%     c)15%     d)20%                         (b)

94: Which of the following risks covered under institute cargo clause(B) are not covered under institute cargo clauses(C)

  1. standing of vessel
  2. collision of vessel
  3. sea-water damage
  4. explosion ©

95: Which of the following risk is automatically covered under institute cargo clauses(A) without extra premium

  1. inherent vice
  2. country damage
  3. war and kindred risks
  4. strikes,riots and civil commotion (b)

96: Which of the following perils CANNOT be added by extra premium to institute cargo clauses(B)

  1. fresh water damage
  2. rain water damage
  3. inherent vice
  4. country damage ©

97: The clause in open cover which limits the liability of insurers at any one time or place before the shipment is known as

  1. declaration clause
  2. basis of valuation clause
  3. location clause
  4. limit per bottom clause ©

98: When badly damaged goods are abandoned because the cost of reconditioning exceeds the value of goods after reconditioning, the loss is settled as

  1. salvage loss
  2. actual total loss
  3. constructive total loss
  4. general average loss ©

99: Which of the following is NOT required under rail transit claims

  1. invoice
  2. bill of lading
  3. original policy
  4. non-delivery certificate (b)




CHAPTER    8

100: Which of the following does NOT fall under ‘miscellaneous’ classification of motor vehicles

  1. ambulance
  2. mobile dispensaries
  3. motorized rickshaws
  4. cinema, film recording vans ©

101: Under the motor vehicles act, the limit of liability for damage to third party is Rs.

  1. 10,000/-
  2. 6,000/-
  3. 20,000/-
  4. 25,000/-                                           (b)

102: Which of the following statements is true

Liability under workmen’s compensation act is to be compulsory insured is respect of

1: workers carried in a goods vehicle

2: workers carried in a public service vehicle

  1. a) 1 is true b) 2 is true c) both are true     d) both are false               (a)

103: Under the motor vehicles act, the amount of compensation for death on the basis of no-fault liability is Rs.——

a)Rs.25,000/-   b) Rs.50,000/-    c) Rs.1,00,000/-    d)Rs.2,00,000/-          (b)

104: Under the motor vehicles act, the fixed compensation for death in ‘hit and run’ motor accident is Rs.—–

  1. a) 12,500/- b) Rs.25,000/-    c)Rs.50,000/-     d) Rs.1,00,000/-                   (b)

105: Liability only motor policy covers liability for damage to

  1. property of third party
  2. property belonging to insured
  3. property held in trust by the insured
  4. property in the custody of the insured (a)

106: Under personal accident cove for owner-driver the capital sum insured for two-wheelers is

  1. a) Rs.25,000/- b)Rs.50,000/-     c)Rs.1,00,000/-      d)Rs.2,00,000/-                    ©

107: Under personal accident cover for owner-driver the capital sum insured for private cars is

  1. a) Rs.50,000/- b)Rs.1,00,000/- c)Rs.2,00,000/-    d) Rs.3,00,000/-              ©

108: Under personal accident cover for owner-driver the capital sum insured for commercial vehicles is

  1. a) Rs.50,000/- b)Rs.1,00,000/- c)Rs.2,00,000/-      d)Rs.3,00,000/-                       ©

109: In the event of death of sole insured under a motor policy the policy will remain valid for a period of ——months from the date of death of the insured or until the expiry of the policy(whichever is earlier)

  1. a) 3 months b) 6 months   c)9 months     d)12 months                              (a)

110: Applications from legal heirs of the deceased insured for transfer of policy to their name should be accompanied by documents. Which of the following is NOT required

  1. death certificate
  2. post-mortem report
  3. proof of title to the vehicle
  4. original policy (b)

111: Which of the following is NOT covered under private car package policy

  1. earthquake
  2. lightning
  3. loss of accessories unless the vehicle is stolen at the same time
  4. landside ©

 

112: The maximum towing charges of a private car payable is restricted to

a)Rs.750/-     b)Rs.1000/-     c)Rs.1500/-      d)Rs.2000                     ©

113: Under private car package policy constructive total loss arises if the cost of repairs of the damaged vehicle exceeds——-%

a)75%      b)80%     c)90%     d)100%                                      (a)

114: Which of the following statements is true

1: rates of premium for motor third party risks are fixed by the IRDA

2: rates of premium for motor ‘own damage’ risks are fixed by the tariff advisory committee

  1. a) 1 is true b) 2 is true   c) both are true     d) both are false               (a)

115: Which of the following is NOT  a rating factor for private cars (own damage)

  1. insured’s declared value of vehicle
  2. cubic capacity
  3. passenger capacity
  4. geographical zone   ©

116: Under motor package policy which of the following does NOT attract additional premium

  1. personal accident cover for owner-driver
  2. electronic fittings
  3. use of CNG fuel
  4. fibre glass fuel tanks                              (a)

117: Which of the following is NOT eligible for discount in ‘own damage’ premium(private car package policy)

  1. vintage cars
  2. brand new cars
  3. membership of automobile association
  4. anti-theft devices approved by automobile research association of India (b)

118: Which of the following is NOT taken into consideration for fixing rates of premium for private car (package policy)?

  1. age of vehicle
  2. licensed passenger capacity
  3. insured declared value of vehicle
  4. geographical area ©

119: Which of the following documents is NOT required for processing private car ‘own damage’ claims

  1. driving license
  2. registration certificate book
  3. fitness certificate
  4. final bill from repairs ©

120:Out of the following documents for ‘own damage’ motor claims, select one which is additionally required for commercial vehicle(goods carrier) claims

  1. registration certificate book
  2. permit
  3. driving license
  4. police report (b)

121: Which of the following does NOT attract additional premium under motor policies

  1. CNG/LPG fuel kit
  2. Anti-theft devices
  3. Fibre glass fuel tanks
  4. Electronic items fitted to the vehicles but not included in manufacturer’s price (b)

122: Which of the following statements is true

Motor third party premium shall be shared among all the general insurers writing motor insurance business in proportion to gross direct premium in

1: motor insurance business

2: all classes of general insurance business

  1. a) 1 is true b) 2 is true     c) both are true      d) both are false                        (b)

123: The administrator of motor third party insurance is

  1. IRDA
  2. GIC
  3. General insurance council
  4. Motor accident claims tribunal (b)

124: Which of the following statements is true

1:motor third party (injury claims) are adjudicated by motor accident claims tribunal

2: motor third party(properly damage claims) are adjudicated by civil courts

  1. a) 1 is true b) 2 is true     c) both are true        d) both are false                 (a)




CHAPTER  9

125:For which of the following, full capital sum insured is NOT payable under personal accident policy

  1. Permanent total disablement
  2. Permanent partial disablement
  3. Loss of two limbs
  4. Loss of one limb and one eye (b)

 

126: Which of the following contingencies is NOT covered under personal accident insurance

  1. temporary total disablement
  2. temporary partial disablement
  3. permanent total disablement
  4. permanent partial disablement (b)

127: Which of the following is NOT considered as permanent total disablement

  1. loss of both eyes
  2. loss of hearing in both ears
  3. paralysis
  4. loss of one limb and one eye (b)

128: The amount of weekly payment for temporary total disablement under personal accident insurance is restricted to

  1. a) Rs.1000/- b) Rs.2000/-     c)Rs.3000/-    d)Rs.5000/-                             ©

129: Which of the following additional benefits under personal accident insurance attracts extra premium

  1. medical expenses
  2. expenses for carriage of dead body’
  3. children’s education fund
  4. cumulative bonus (a)

130: Which of the following is NOT excluded under personal accident insurance

  1. service in the armed forces
  2. air travel in standard type of aircraft
  3. suicide
  4. attempted suicide (b)

1: Which of the following is true in relation to personal accident insurance

1: the cover is on a 24-hour basis

2: the geographical area of cover is India

  1. a) 1 is true b) 2 is true c) both are true       d) both are false                      (a)

2: Which of  the following occupations does NOT fall under  risk group I for rating purposes(personal accident)

  1. accountants
  2. veterinary doctors
  3. lawyers
  4. bankers (b)

3: which of the following occupations does NOT fall under group II for rating purposes(personal accident)

  1. lorry drivers
  2. motor mechanics
  3. consulting architects
  4. paid drivers of motor cars ©

131:Which of the following statements is true

1: no medical examination is required for fresh cover for personal accident insurance

2: medical examination is required for renewal of personal accident insurance

  1. a) 1 is true b) 2 is true c) both are true     d) both are false                     (a)

132: Under group P.A policy which of the following is true

1: cumulative bonus does not apply

2: children’s education grant is available

  1. a) 1 is true b) 2 is true c) both are true    d) both are false          (a)

133: Group P.A  cover is arranged to cover only accidents to employees arising out of and in the course of employement reduced premium equivalent to ——% of the appropriate is charged

  1. a) 50% b)60% c)75%    d)80%                 ©

134: Bonus(discount) and malus(loading of premium) applies under P.A insurance under

  1. individual policies
  2. group policies
  3. both individual and group policies
  4. neither individual nor group policies (b)

135: If group P.A policy cover is required when the employees is not at work and/or not on official duty i.e ‘off-duty’ cover, the reduced premium of —–% of the normal premium is charged

a)40%    b)50%       c)60%     d)75%                                        (b)




CHAPTER   10

136: Relevant medical expenses incurred during upto —– days prior to hospitalization are treated as part of the claim

a)15 days    b)30 days   c)45 days    d)60 days                         (b)

137: Which of the following diseases is excluded under domiciliary hospitalization benefit

  1. a) tonsillitis b) sinusitis    c) cataract     d)hemia                         (a)

138: Which of the following diseases is excluded during the first year of operation of mediclaim policy

a)bronchitis      b) diabetes    c)hemia    d) chronic nephritis              ©

139: Under mediclaim policy any disease contracted by the insured during the first —– days from the commencement of policy is excluded

a)15 days    b)30 days     c) 45 days     d)60 days                   (b)

140: Which of the following diseases is NOT excluded during the first year of operation of mediclaim policy

a)epilepsy     b) cataract     c) hemia      d)piles                         (a)

141: Under mediclaim policy, which of the following is NOT covered

  1. chemotherapy
  2. radiotherapy
  3. naturopathy
  4. cost of pacemaker ©

142: Subject to no claim, cost of medical checkup once in every —– underwriting years is payable under mediclaim policy

  1. a) 2 years b)3 years c) 4 years     d)5 years                       ©

143: The sum insured under mediclaim policy is increased by 5% for each claim free year of insurance subject to a maximum accumulation of —– Years

  1. a) 3 years b)5 years c) 10 years     d) 15 years                      ©

144:Which of the following is true under group mediclaim policy

1: cumulative bonus is not available

2: health check-up expenses are payable

  1. a) 1 is true b) 2 is true c) both are true     d) both are false                   (a)

145: Which of the following is NOT available under group mediclaim policy

  1. no claim bonus
  2. group discount
  3. cumulative bonus
  4. maternity extension ©

146: A waiting period of —– months is applicable for payment of a maternity claim

  1. a) 8 months b) 9 months    c)10 months     d) 12 months               (b)

147: Claim under maternity extension in respect of any one insured person is payable only for

  1. first child
  2. first two children
  3. first three children
  4. first four children (b)

148: which of the following is NOT payable under maternity benefit extension

  1. pre-natal expenses prior to hospitalization
  2. caesarean section
  3. miscarriage due to accident
  4. abortion due to accident (a)

149: Which of the following statements is true

1: bonus/malus clause applies to individual mediclaim policy

2: bonus/malus clause applies to Grourp mediclaim policy

  1. a) 1 is true b) 2 is true c) both are true   d) both are false              (b)

150: In relation to cancer patients aid association policy which of the following is true

1: The premium is payable to CPAA as part of the membership fee

2: claims are paid by CPAA

  1. a) 1 is true b) 2 is true    c)both are true    d) both are false                   (a)

151: No claim is payable under CPAA policy if the insured contracts cancer within a period of —–days from the date of becoming a member of CPAA

  1. a) 15 days b)30 days c) 45 days     d)60 days                (b)

152: The sum insured under  CPAA cancer policy, is increased by —-% for each completed year of policy in force prior to claim

  1. a) 5% b)10% c)15%     d)20%                        (a)

153: Which of the following is true

Differences as to the claim or quantum thereof are to be referred to

1: arbitration as per policy conditions

2: committee set up by CPAA and the insurance company

  1. a) 1 is true b) 2 is true c) both are true    d) both are false          (b)

154: Under critical illness policy which of the following is NOT specified as critical illness

  1. cancer
  2. paralysis
  3. tuberculosis
  4. parkinson’s disease ©

154:Claim under the critical illness policy is payable if during the policy period the insured is found to have contracted a critical illness and survives such critical illness for at least—-days from the date of its discovery

a)15 days    b)30 days    c)45 days     d)60 days                       (b)

155: Any critical illness discovered or discoverable within ——-days of the inception date of the policy is not covered under this policy

  1. a) 30 days b) 45 days c) 60 days     d) 90 days                                    (d)

157: Under overseas medical policy, extension of the period of insurance is automatic, for the period not exceeding—– days and without extra, if due to delay of public transport services beyond the control of insured

  1. a) 7 days b) 15 days c)21 days     d) 30 days                           (a)

158: Which of the following is NOT paid upto the full limit of cover under the overseas

medical policy

  1. physician services
  2. hospital services
  3. dental services for immediate relief of dental pain only
  4. local emergency medical transportation                                 ©

159: Under personal accident section of overseas medical policy which of the following is not covered

  1. death
  2. permanent total disablement
  3. permanent partial disablement
  4. loss of eyes or limbs ©

160: Under overseas medical policy, emergency purchases of replacement items is paid if there is delay or more than —–hours in delivery of baggage at the destination of outbound flight from India

  1. a) 6 hours b) 12 hours c) 18 hours     d)24 hours                      (b)

161: Under which of the following sections of overseas medical policy, deductible does not apply

  1. medical expenses
  2. personal accident
  3. personal liability
  4. loss of passport (b)

162: Under corporate frequent travel annual policy the duration of any one trip not to exceed —– days

a)30 days    b)45 days    c)60 days    d) 90 days                       ©

163: Under corporate group overseas medical policy employees above —–years of age have to submit the prescribed medical reports

  1. a) 55 years b) 60 years c) 65 years     d) 70 years                 (b)

164: Which of the following persons are NOT eligible for overseas employment and study policy

  1. students prosecuting studies
  2. students doing research
  3. construction workers temporary posted abroad
  4. software engineers temporary posted abroad        ©




CHAPTER    11

165)The amount of relies payable under public liability insurance act, 1991 for fatal accident is

a)Rs.10,000/-     b) Rs.12,500/-     c) Rs.25,000/-     d) Rs.50,000/-          ©

166: The amount of relief payable under public liability insurance act, 1991 for permanent total disability is

a)Rs.12,500/-    b)Rs.25,000/-     c)Rs.50,000/-   d)Rs.1,00,000/-      (b)

167: Under public liability insurance act, 1991 a company handling hazardous substance has to insure for an amount not less than the amount —– of the company

  1. market value of assets
  2. market value of stocks
  3. paid-up capital
  4. turnover of hazardous substances ©

168: The maximum liability of the insurer under public liability insurance act 1991 to pay relief to several claimants arising out of  one accident shall not exceed—–

  1. 2.50 crores
  2. 5.00 crores
  3. 7.50 crores
  4. 10.00 crores       (b)

169:Which of the following liabilities is NOT excluded under insurance policy under public liability insurance act, 1991

  1. arising out of willful non-compliance of statutory provision
  2. damage to property leased by the insured
  3. damage to property of third party
  4. fines and penalties ©

170: Which of the following is taken into account to fix rates of premium for the policy under public liability insurance act , 1991

  1. limit of indemnity , any one accident
  2. limit of indemnity, any one year
  3. limit of indemnity, any one year and turnover
  4. limit of indemnity, any one accident and turnover (d)

171: Which of the following exclusions of industrial risks public liability policy can be covered under a separate policy

  1. liability for pollution
  2. liability of collaboration who has a technical collaboration with the insured
  3. liability for injuries to employees
  4. liability arising out of earthquake ©

172: Under industrial risks public liability policy the compulsory excess of a specified percentage is applied on the limit of indemnity

1: any one accident

2: any one year

  1. a) 1 is true b) 2 is true    c) both are true    d) both are false           (a)

173: Which of the following is NOT relevant in fixing rates of premium under industrial risks public liability policy

  1. risk group
  2. type of construction of risk
  3. ratio of limits of indemnity-AOA to AOY
  4. turnover (b)

174: Which of the following risks falls under group IV for rating purposes under industrial risks public liability policy

  1. distilleries
  2. match factories
  3. breweries
  4. biscuit factories (b)

175: Which of the following exclusions does NOT apply under products liability policy

  1. pollution
  2. costs of repair of a defective product
  3. costs of recall of any product
  4. product guarantee (a)

176: which of the following products is charged the highest rate of premium under products liability policy

  1. motor vehicles
  2. motor vehicle tyres
  3. alcoholic beverages
  4. pharmaceutical products (b)

 

177: For which of the following professional indemnities ‘per capita’ premium in addition to basic rate is NOT provided

  1. medical establishments
  2. doctors
  3. chartered accountants
  4. solicitors (b)

178: Which of the following does NOT appear in the indemnity clause of workmen’s compensation insurance

  1. employees state insurance act
  2. workmen’s compensation act
  3. fatal accidents act
  4. common law (a)

179: Which of the following statements is true

1: compulsory excess is applicable to doctors professional indemnities

2: compulsory excess is applicable to professional indemnities for medical establishments

  1. a) 1 is true b) 2 is true c) both are true   d) both are false                (b)

180: Which of the following extensions  is NOT granted under workmen’s compensation policy

  1. specified diseases in the W.C.act
  2. medical expenses
  3. technical collaboration
  4. contractor’s workmen ©




    CHAPTER    12

 

181: Which of the following project does NOT fall under contractor’s all risk policy

  1. installation of machinery
  2. buildings
  3. tunnels
  4. bridges (a)

182: Which of the following is NOT covered under boiler and pressure plant policy

  1. damage to boiler
  2. damage to surrounding property of insured
  3. damage by fire
  4. damage to third party property ©

 


CHAPTER     13

183: Which of the following requirements does NOT apply for granting cash-in- safe insurance

  1. the safe is ‘burglar-proof’
  2. the safe is brand new
  3. the safe is of approved make
  4. the safe is approved design (b)

184: Which of the following risks is NOT covered at extra premium under burglary( business) premises policy

  1. strike
  2. riot
  3. breakage of plate glass
  4. terrorism ©

185: Which of the following losses caused by burglars is NOT payable under burglary ( business premises) policy

  1. damage to external doors by fire
  2. damage to goods which were not stolen
  3. damage to furniture
  4. theft of cash safe through original key obtained by threats of violence (a)

 

 

186: Which of the following is covered under baggage insurance policy

  1. traveling saleman’s samples
  2. traveling dealer’s stocks
  3. accompanied baggage
  4. unaccompanied baggage ©

 

 

187: Which of the following policies are NOT granted in burglary ( business premises) policy

  1. first loss policy
  2. reinstatement value policy
  3. declaration policy
  4. floating policy     (b)

188: Under money insurance which of these statements is correct. Estimated amount of cash in transit during the policy period

1:  is the maximum amount payable for any one loss

2: is the amount on which the premium is collected

  1. a) 1 is correct b) 2 is correct c) both are correct  d) both are incorrect     (b)

189: Which of the following risks does NOT require additional premium under money in transit policy

  1. a) riot b) strike c) robbery    d) terrorism                          ©

190:Which of the following can be covered under money-in-transit policy at extra premium

1: dishonesty of persons carrying the cash

2: loss of wages on premises during payment to employees

  1. a) 1 only b) 2 only c) both can be covered  d) neither can be covered        ©

191: Under fidelity guarantees, the customary time limit for discovery of loss is not later than —– months after the resignation of the dishonest employee

  1. a) 6 b) 12    c)  18    d)   24                       (b)

192: which of  the following fidelity guarantee policies is usually granted to large reputable firms to cover their entire staff

  1. floating policy
  2. collective policy
  3. blanket policy
  4. positions policy ©

193: Under which of the following fidelity guarantee policies individual amount of guarantee is  NOT specified

  1. collective policy
  2. floating policy
  3. positions policy
  4. blanket policy (b)

194: Under which of the following fidelity guarantee policies, ‘per capita’ additional premium is charged

  1. collective
  2. floating
  3. positions
  4. blanket (b)

195: Which of the following is NOT covered under neon sign insurance policy

  1. theft
  2. lightning
  3. mechanical breakdown
  4. external explosion           ©

196: which of the following covers in ‘householders’ package insurance is NOT included in shopkeepers package insurance

  1. personal baggage
  2. television
  3. fixed plate glass
  4. legal liability to third parties (b)

197: Which of the following covers in shopkeepers package insurance is not included in householders package insurance

  1. fixed plate glass
  2. neon sign
  3. pedal cycles
  4. legal liability to employees (b)

 

 

 

198: Which of the following are NOT covered under bankers blanket policies

  1. trading losses
  2. payment of raised cheque
  3. dishonesty of the employee of the bank with respect to loss of money
  4. loss of securities by fire (a)

199: Which of the following are NOT covered under bankers blanket policies
a) fraud of insured’s employees in respect of goods hypothecated to the insured

  1. b) payment of forged cheques
  2. c) loss due to faulty computer programming
  3. d) loss of securities by burglary ©

200: Under jewelers block policy which of the following property is covered against specified risks only not on ‘all risks’ basis

  1. on premises
  2. in transit by air freight
  3. in transit by angadia
  4. in the custody of brokers (a)

CHAPTER    14

201: Under cattle policy, the claim is not payable for death due to disease occurring within —— days of the commencement of the risk

  1. a) 7 days b) 15 days c) 21 days      d) 30 days                       (b)

202: Which of the following is true in relation to sheep and goat insurance

1: indemnity is provided on the basis of sum insured or market value whichever is less

2: salvage value is deducted from claim amount payable

  1. a) 1 is true b) 2 is true c) both are true    d) both are false                (a)

203: For which of the following features, no discount is granted for premium rates for poultry insurances

  1. farms in rural areas
  2. farms having resident veterinary doctor
  3. farms having dead bird disposal system
  4. farms having standard layout (a)

202: For which  of the following crops horticulture policy is NOT  available

  1. a) grapes b) oranges c) papaya     d) bananas                     ©

11: For which of the following crops plantation(inputs) policy is NOT available

  1. a) rubber b) coffee c)tea    d) sugarcane                             (b)

203: Under agricultural pump set policy which of the following risks is covered at extra premium

  1. mechanical breakdown
  2. electrical breakdown
  3. flood
  4. burglary ©

204: Under IRDA regulations every insurer shall underwrite business in the rural sector to the extent of at least —–%  of the total gross premium in the first financial year

  1. a) 1 % b) 2 % c) 3%    d) 4%                       (b)

CHAPTER    15

205: which of the following is true as per the arbitration condition in fire and most miscellaneous policies

1:All differences in respect of a claim are to be referred to arbitration

2: differences regarding amount of claim only to be paid are to be referred to arbitrationa) 1 is true     b) 2 is true    c) both are true    d) both are false                   (b)

 

1)AlltheAbove/Required/Included/Three/Applies to all (35)Match Factory
(2)Both are Correct/Both are True (36)Painting
(3)Marine cargo and hull (37)On Premises
(4)Marine cargo insurance (38)Neon sign
(5)Motor vehicle tyres (39)Television
(6)For Depreciation (40)Stock
(7)Tuberculosis (41)Forest Fire
(8)First two children (42)Earthquake
(9)Survey Fees/Loss Of Surveyor’s Fees (43)Epilepsy
(10)Civil Court = False statements (44)RS. 5 Crore
(11)Export/Import Shipment (45)Losses
(12)Non Delivery (46)Papaya.
(13)Tonsillitis (47)Coffee
(14)CIF contract (48)Robbery
(15)Bill of Lading  (49)Pollution
(16)Veterinary Doctors (50)Assignment
(17)Post-Mostem Report (51)ICC(A)
(18)Fines and Penalties (52)General Average
(19)Motor Constructive Total Loss = 75% (53)Artificial Limbs
(20)Loss Of Profit (54)Contribution
(21)1500(Toing Charge) (55)1:5
(22)5 Years and 80 Years (56)Common Law
(23)Malicious Damage (57)Trading Losses
(24)None of the above/None (58)12
(25)forklift on the premises (59)500 Days
 (26)Debris removal = 1% and 10% (60)Accident
(27)Architects ‘fees’ = 3% and 7.5%  

(61)Paid-up Capital

(28)Money and Securities (62)rain water damage
(29)Loss of Passport (63)chartered accountants
(30)Surgical Operation
(31)Stock in Transit
(32)Demage by Fire
(33)General Average(Statement)

 

Disclaimer: We do not give any false commitments regarding the above mentioned IRDA General Insurance Agent Exam Question Paper because it’s a practice test paper which may or may not be upto 100% same. The above given solved question paper of IRDA Agent Exam is compelled with more than 200 questions and if you practice it thoroughly then there’s a good chance you will pass the bar.

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