[nilesh]

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Hello sir, I want question paper for Insurance Regulatory and Development Authority exam. Will you please give me Insurance Regulatory and Development Authority exam papers?

[vikash]

The Insurance Regulatory and Development Authority exam is conducted by Insurance Institute of India every year an all India bases for recruitment of Insurance agents in insurance companies.

Eligibility

Educational Qualification
Candidate interested to take IRDA exam should be +2 from a recognized school/board.

Age
Candidates aspiring to take IRDA Exam should not be below 18 years of age however there is no upper age limit for taking IRDA Exam for becoming an LIC agent.


Insurance Regulatory and Development Authority exam papers:

IRDA Agent Licensing Question paper

1) The principle to be followed by both the parties in an insurance contract, with reference to disclosure of all the relevant facts, is known as -------------------------------------------------------.

2) The life insurance scheme, which allows an employer to insure the lives of important employees in the organization, in order to cover the risk arising out of their premature death is known as ---------------------------------------------------------.

3) The Insurance Act was passed in the year
a) 1928
b) 1938
c) 1939
d) 1942

4) In life insurance, the ___________ is authorized to collect the claim amount after the death of the policyholder.

5) How is, the person appointed by the Government to settle disputes between the insurers and the insured, better known as? __________________

6) Assignment usually effected for consideration of natural love and affection is: __________ .

7) A process whereby the beneficial interest, right and title under a policy gets transferred is called __________ .


8) Fill in the blanks.
a. To sell insurance an agent must understand the prospect’s insurance ______.
b. An agent has to ensure that without a lapse, the new policy issued should continue till it becomes a __________.
c. The ______________ is also accompanied by the agent’s _____________ report.
d. In nomination the policyholder ____________ all rights under the policy.
e. The two types of assignments are _________________ and ________________.
f. A lapsed policy can be revived in _______ ways.
g. The __________ should help the prospect in revival process.
h. Maturity claim can be done after filling up the _______________ voucher.
i. Indemnity bond is executed by the policy holder in case the policy is ___________ or _____________.

9) The capability to function as an agent would be measured partly by the business that is done and the commission that is earned.(T/F)

10) An agent’s reputation must be such in the market that will help him to collect more references from his policyholders.(T/F)

11) Product knowledge ends with knowing the broad terms and conditions of the policy and the extent of cover.(T/F)

12) Good product knowledge will help one to be aware of the possible drawbacks in the policy, the tax implications, the fit with the client's need, the extent to which the client has to take precautions so that the benefits may not be lost.(T/F)

13) An agent is a professional and a businessman.(T/F)


14) An agent is both a professional and a businessman and there is no conflict between the two.(T/F)

15) An agent's revenue is in the nature of commission on premium. (T/F)



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