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Advanced Wealth Management Course (IIBF) - Paper 4

Part I: Ch 2: Insurance Organization, Structure and Functions

Q1.

The stage where all the experts analyze the feasibility of the new product that has been selected for detailed scrutiny is called:

a. Idea Generation and selection
b. Comprehensive Business Analysis
c. Technical Design
d. Implementation

Q2.

In which stage, the actual distribution of the new product is commenced?

Implementation
Technical Design
Product Introduction
Sales Monitoring & Review

Q3.

(I) A broker primarily represents the company and is expected to represent it correctly. (II) An Agent may be said to represent the customer.

Both the statements are correct
Only statement (I) is correct
Only statement (II) is correct
Both the statements are wrong

Q4.

The primary function of an agent is to procure business for the insurance company.

True
False

Q5.

The marketing channel/s in insurance is /are:

Selling through Marketing Intermediaries
Selling through financial institutions
Direct marketing
All of the above

Q6.

(I) Underwriting is a process of screening and selecting proposals for granting of insurance. (II) Underwriting helps to ensure equity among policy holders.

Both the statements are correct
Only statement (I) is correct
Only statement (II) is correct
Both the statements are wrong

Q7.

An Actuary is a person who has passed specialized examinations conducted by the Institute of Actuaries of India.

True
False

Q8.

(I) Actuary apply the principles of probability and compound interest to derive appropriate premiums that are adequate to pay the claims and meet the company’s other costs. (II) Actuary conducts a periodical valuation of the insurer’s assets and liabilities.

Both the statements are correct
Only statement (I) is correct
Only statement (II) is correct
Both the statements are wrong

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