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Online IRDA IC-33 Sample Paper
In Real Exam Format

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IC 33 Sample Pepar - 1
Question 1.

While fact-finding process, What will be the first step ?

Recommending Product
Quantify client needs
Identify a client financial planning needs
Prioritise client needs
Question 2.

According to context of financial planning, What is the difference between real needs and perceived needs select as the best described ?

Real needs are actual needs and perceived needs are client's thoughts and desires.
Real needs are identified by client and perceived needs are identified by insurance advisor.
Real needs are needs which fulfill an object and perceived needs are needs which do not fulfill object.
Real needs are financial needs and perceived needs are non-financial needs.
Question 3.

As per IRDA guidelines, Can be used same risk pool for life insurance and car insurance for claims payment ?

Yes, because the insurance company collecting premium from both life insurance and car insurance.
No, because the insurance company maintains different sets of pools for different risks.
Question 4.

In annuity policy, Open market option (OMO) extend which of the following benefit ?

Increase in the range
Increase in the return
Ensure better annuity rate
Switch to funds
Question 5.

In a Contract both parties must understand and agree upon the same thing as well as in the same sense, This is called ?

Consensus ad idem
Legality of an object
Question 6.

Mohan is young with adequate reserve capital. He wants to protect his income, also he feels that if he does not die then he would need the amount. What type of plan should he opt for ?

Endowment plan
Term Insurance plan
Pension plan
Return of premium plan
Question 7.

What type of hazard is this, If a person consumes alcohol ?

Professional hazard
Moral hazard
Occupational hazard
Physical hazard
Question 8.

What is the best method of showing the differance between guaranteed benefits and non-guaranteed benefits to client, as per IRDA guidelines ?

Benefit illustration
Sales communication
Press releases
Question 9.

Where insured can approach in case of any dispute regarding insurance policy ?

Consumer forum
Question 10.

Ajay is working in a department which calculates the level of premium. He must be member of ?

Charted Institute of Insurance
Insurance Institude of Risk Management
Insurance Institude of India
Institutes of Actuaries of India
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