1. Annuity belongs to – (A) one where annuity amount is fixed (guaranteed) (B) one where the annuity amount is variable (linked to investment performance) (C) Both A and B are correct (D) None of the above.
2. Which one of the following statements is correct? (A) Annuity would stop strictly with the death of the annuitant (B) Annuity could be paid to the surviving spouse in case of joint life annuity (C) Both A and B are correct (D) None of the above.
3. In a joint life annuity, what would happen to annuity payment if the spouse is to predecease the annuitant? (A) Annuity would continue (B) Annuity would cease (C) A & B correct (D) NOTA .
4. What are the types of Annuities? (A) Immediate Annuity (B) Deferred Annuity (C) Both are correct (D) NOTA .
5. Under Immediate annuity, the premium has to be paid (A) in regular instalments (B) in lumpsum (C) Both correct (D) Both wrong .
6. Under Deferred annuity, the premium has to be paid – (A) in regular instalments (B) in lumpsum (C) Both correct (D) Both wrong.
7. Under Deferred annuity, the time period between its purchase and start of annuity payments is called– (A) Waiting period (B) Postponement period (C) Waiver period (D) Deferment period.
8. What are the 2 distinct phases of a Deferred Annuity? (A) Waiting & Starting phases (B) Loading & Unloading phases (C) Accumulation & Payout phases (D) Commutation & Continuation phases .
9. Which type of Annuity will have 2 distinct phases? (A) Immediate Annuity (B) Deferred Annuity (C) Spouse Annuity (D) Joint life annuity .
10. Which one of the following statement is correct? (A) Every Annuity is pension (B) Every Pension is an Annuity (C) Both correct (D) Both wrong .
11. Which is a dilemma of an old age person? (A) How much old age pension is to be provided (B) Where to invest the fund (C) Both correct (D) Both wrong .
12. Which is not a pension related contingency? (A) Health (B) Longevity C) Inflation (D) Investment risk .
13. Which is the reason for increase in health insurance in India? (A) Health consciousness B) Increased longevity (C) Increase in income (D) All .
14. What is a Standalone health insurance company? (A) An health insurance company which has only one office throughout the country (B) A Life insurance company selling general insurance products like health insurance also (C) A General Insurance company which sells only health products. (D) All the above.
15. Which is not a recent phenomenon in health insurance industry segment? (A) Hospital chains are allowed by IRDA to enter health insurance business. (B) Tremendous growth of health ins. business is tapped by Standalone companies (C) Standalone companies are specifically barred from covering rural masses D) None of the above.
16. Which item of expense is not covered under a typical health insurance cover? (A) Theatre charges (B) Blood donation charges C) Bed charges (D) Test reports.
17. Which is correct? (A) Health insurance companies do not normally provide Outpatient treatment expenses. (B) Some Health insurance companies do provide Outpatient treatment expenses (C) Both correct (D) None of the above correct .
18. As part of Outpatient cover, which are the items that could not be covered? (A) Dental treatment (B) Optical services C)Health checkups (D) Surgery .
19. Day care centre in health insurance parlance would mean – (A) Patients are admitted during day time only (B) There is no provision for round the clock treatment (C) Centre where procedures requiring less than 24 hrs hospitalization are done. (D) None of the above.
20. Which among the following is not a Day Care procedure? (A) Byepass surgery (B) Cataract (C) Lithotripsy (D) Piles.
21. TPA stands for – (A) Third Party Assignee (B) Third Payment Administrator (C) Third Payee Assignor (D) Third Party Administrator .
22. TPA is licenced by the – (A) Insurance company (B) Surveyor (C) Central Govt. (D) IRDA .
23. Who is a health care provider? (A) Insurer (B) Insured (C) IRDA (D) Hospital .
24. Which is a network hospital? (A) An hospital enlisted by insurer to provide medical services (B) An hospital enlisted by TPA to provide medical services (C) Both correct (D) None of the above correct .
25. What do you understand by the term ‘Portability’ in so far as it relates to health ins? (A) Right given to an individual to move from one to another policy of the same co. (B) Right to transfer the policy from one insurer to another insurer or from one to another plan C) Both correct (D) None of the above correct.
26. Illness/injury for which treatment was required during a pre-determined time is called – (A) Pre-existing illness (B) Post-operative illness (C) Post-paid illnesses (D) Pre-correctional illnesses .
27. In which manner Pre-existing illnesses could be covered? (A) After illness is cured (B) Before illness is contracted C) After illness is diagnosed (D) After a Waiting period .
28. Health plus Life Combo products would mean combination of – (A) Health Insurance from a Non-life company + Life cover from a Life Insurance company (B) Health Insurance from a Standalone health co. + Life cover from a Life Insurance company (C) Both correct (D) None of the above correct.
29. Which one of the following statements is correct? (A) Health cover policies cover all illnesses without any exclusion whatsoever (B) There could be a few exclusions like AIDS, STDs, etc (C) Both correct (D) None of the above correct.
30. Typical health ins. policies may exclude from cover routine expenses related to – (A) Plastic surgery (B) Dental treatment (C) Aesthetic treatment (D) All the above.
31. Exclusions in a health insurance policy means – (A) Diseases covered under health cover (B) Diseases specifically not covered (C) Both correct (D) None of the above correct .
32. If a person does not prefer any claim in an health insurance – A) Cover would cease and policy cancelled (B) Cover would be subject to certain exclusions (C) Cover would decrease (D) No claim Bonus allowed for claim-free years .
33. Domiciliary Hospitalisation means – (A) Treatment taken as an Outpatient in an hospital (B) treatment taken as an Inpatient in an hospital (C) Treatment taken both as an Outpatient and as an Inpatient (D) Treatment taken at home as the patient could not be moved to hospital .
34. For admission of domiciliary hospitalization claim,the minimum period of medical treatment should be – (A) 24 hours (B) 48 hours (C) 3 days (D) 4 days .
35. With regard to domiciliary hospitalization which is incorrect? (A) The limit for the same is fixed as a %age of total sum insured (B) All chronic diseases are covered without any exclusion C) Both correct (D) None of the above correct.
36. What is the special feature of a Family Floater policy? (A) The total sum insured floats amongst the family members B) Husband/wife, children & Parents/parents in laws can be covered (C) Both correct (D) None of the above correct .
37. In respect of a family floater health policy, which of the following statements is correct? (A) The total premium payable is less than the total premium payable under non- floater policies (B) The total premium payable is more than the total premium payable under non- floater policies (C) Both correct (D) None of the above correct.
38. It would be advantageous to go for a Family floater rather than Non-floater for the reason that- (A) Higher cover which would help any family member in case of high cost treatment (B) Premiums are considerably lower than where cover is taken for individual members (C) Both correct (D) Either A or B is correct .
39. The sum insured under a health insurance policy would primarily depend on – (A) Age (B) Health condition (C)Affordability (D) Income.
40. Health insurance policy premiums qualify for tax relief under Income Tax Act? (A) 80C (B) 80D (C) 10(10D) (D) 80E .
41. The definition for ‘Hospital’ does not envisage which of the following:- (A) 5 inpatient beds in towns with a population < 10 lakh population and 10 beds in other (B) qualified medical practitioner round the clock C) Fully equipped operation theatre (D) Daily records of patients to be maintained.
42. Cashless facility means – (A) Insured need not carry cash on hand and he can settle medical bills thro’ debit card (B) Insured has to pay bills and take reimbursement later (C) Hospital (Net work provider) would directly get the bills settled by the insurer (D) None of the above. .
43. Smart identity card for presenting it to network hospital in health insurance would be issued by– (A) Insurer (B) TPA (C) Either A or B (D) Neither A nor B .
44. In case of hospitalization in a network hospital, admission would be on the basis of – A) Smart card (B) Pre-authorisation from Insurer/TPA (C) Either A or B (D) NOTA .
45. If the insured gets admitted in a non-network hospital, A) He could still avail cashless facility B) He would settle hospital bills and would get reimbursed by the insurer. (C) Either A or B (D) Neither A nor B .
46. In which event availing cashless facility may not require a pre-authorisation from the insurer/TPA? (A) If the hospitalization is to a Non- network hospital (B) Emergency hospitalization C) Both A and B correct D) Neither A nor B are correct. .
47. Who prescribes the format of a pre- authorisation letter and standard claim forms? (A) Central Government B) Insurance company (C) TPA (D) IRDA .
48. How much free look period allowed from the date of receipt of health ins policy document? (A) 10 days (B) 15 days C) 30 days (D) 90 days.
49. The grace period for renewal beyond expiry date of a health insurance policy is – (A) 10 days (B) 15 days (C)30 days (D) 90 days.
50. As per IRDA regulations on health insurance – (A) Life time cover not mandated (B) Life time cover is mandatory C) Either A or B (D) Neither A nor B .
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