Insurance - Study Mode

[#371] The Authority may issue duplicate licence in case it is _________.
Correct Answer

(D) All of the above

Explanation

Solution: The Authority may issue duplicate licence in case it is lost, destroyed or mutilated.

[#372] Minimum qualification required for insurance agent is _________ pass.
Correct Answer

(B) 10th

Explanation

Solution: Minimum qualification required for insurance agent is 10th pass.

[#373] Direct marketing involves which of the below?
Correct Answer

(D) All of the above

Explanation

Solution: Direct marketing involves Telemarketing, Insurance agents, Bancassurance, etc.

[#374] In insurance , need-gap analysis involves_________
Correct Answer

(A) Identifying the areas where the prospect needs insurance protection

Explanation

Solution: In insurance, need-gap analysis involves identifying the areas where the prospect needs insurance protection. In need gap analysis we engage in a process of gathering detailed information about the prospect’s insurance requirements, to identify and determine the assets and perils for which there is inadequate coverage. The objective here is to collect as much additional information about the prospect as possible.

[#375] The emergence of which of the following necessitates insurance as a form of security?
Correct Answer

(B) Nuclear family system

Explanation

Solution: Nuclear family system necessitates insurance as a form of security. Nuclear family system is a family structure that consists of two parents living with their children, also known as an immediate family.