Insurance - Study Mode
[#221] What are the correct statements?
Correct Answer
(D) All of the above
Explanation
Solution: All the statements are correct. Bancassurance model can either be a bank forming an insurance company on its own or acting as an agent for another Insurance company without capital participation, Such an agency of bank acting for an insurer is known as corporate agency and A commercial bank is not barred from acting as an agent for insurance companies.
[#222] Success in life insurance agency career depends on
Correct Answer
(D) All of the above
Explanation
Solution: Success in life insurance agency career depends on self-motivation for accepting challenges in the profession with fire in his belly, positive self-image with high morale and a spirit of entrepreneurial skill.
[#223] Four major areas of unethical behaviour are
Correct Answer
(D) All of the above
Explanation
Solution: Four major areas of unethical behaviour are Misrepresentation, Illustrations without giving both optimistic and conservative estimation of returns and Replacement of an existing policy by a fresh policy without any specific need.
[#224] Qualified prospects are those people who
Correct Answer
(D) All of the above
Explanation
Solution: Qualified prospects are those people who have a need for life insurance, meet the underwriting requirements and can be approached for this purpose.
[#225] In Needs-analysis the following act is done
Correct Answer
(A) Location of areas where people need life insurance protection
Explanation
Solution: In Needs-analysis location of areas where people need life insurance protection. A good needs analysis also considers how much the death benefit from the life insurance policy is likely to earn if it's invested.