Banca Assessment
Banca Assessment Quiz
Test your knowledge about insurance concepts and principles with our engaging quiz! Whether you are a beginner or looking to brush up on your expertise, this quiz challenges you with questions covering various aspects of insurance.
Join now to discover:
- How insurance helps manage risk
- The role of underwriting in insurance
- Key principles of insurance you should know
How does Insurance help to manage risk?
Risk Avoidance
Risk Control
Risk Retention
Risk Transfer
What is the role of Underwriting in Insurance?
Risk Assessment and Classification
Processing claims
Designing Products
None of the above
Select the concept which is not related to insurance
Pooling of risk
Winning Lottery
Law of Large numbers
Adverse Selection
Which principle of Insurance demands disclosure of all material facts?
Insurable Interest
Indemnity
Utmost good faith
Indisputability Clause
Which principle of Insurance decides the relation between proposer and insured?
Utmost Good Faith
Insurable Interest
Indemnity
Human Life Value
Which of the below does not affect the risk of insured person?
Health history of Insured
Nature of Occupation of Insured
Income and Education of Insured
Age of Nominee
Term plans does not offer ___________
Death Benefit
Tax benefit
Survival Benefit
Low Premium
A plan that offers maturity benefit is called as ___________
Endowment Plan
Participating Plan
Non Participating Plan
Term Plan
A plan that offers ‘bonus’ is __________
Term Plan
Non Participating Plan
Participating Plan
ULIP
The component of premium that is used to settle Death claims is ___________
Savings
Interest
Expensed
Risk Premium
Which among the below is not a term plan from Edelweiss Tokio Life?
Protection Plan
Criticare +
Income Replacement
None of the above is correct answer
Which among the below is true for ET Life Protection plan?
Income Proof of insured is a compulsory document to be submitted with proposal
Only graduates can avail the plan
A proposer cannot propose it on another person’s life
All of the above
Which of the following plans can offer death benefit as monthly income?
Income Replacement
Simply Protect
Both A & B
None of the above
Which of the following is not true for Simply Protect?
Death benefit can be chosen from ‘lump sum’ and ‘income benefit’ options
Income Benefit option offers monthly income for 130 months after death of insured
Maximum cover ceasing age can be opted up to age 80
Monthly income in income benefit option increases at the rate of 5%
Choose the correct option from below
Limited Premium option is available in Protection and Income Replacement
Maximum age of entry in simply protect is 65 years
Premium in Protection plan has to be paid in Annual Mode
All above are correct
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