REPS TEST-1

Pratap has property which has a value of 1.5 cr. He has taken a property insurance of 1.10 cr. With co-insurance prevision of 80:20 and deduction of 5,00,000. What shall be the claim settled by the company. If actual loss is 75 lacs.

Kashyap has property which has a value of 1.9 cr. He Ha taken a property insurance of 1.6 cr. With co-insurance prevision of 80:20 and deduction of 4,75,000. What shall be the claim settled by the company. If actual loss is 10 lacs.

A property was constructed 5 years ago by Laxman, total money was spent 1 cr. construction cost has increased with 7% depreciation charged is 3.75% pe annum. What shall be amount of insurance shall be taken by Laxman on market value basis?

Current age of Naresh is 30 and Retirement Age is 60, current income 9,00,000 annual and self-expenses are 20% of income and Income of Naresh will grow at the rate of 8% per annum.

Naresh has a Car loan liability as on today 5,00,000 and Want to cover education expenses of son who is currently 7 years and needs money from 18 year of age for four years of course, current education expenses 700000 per annum (education expenses), Assume Education expenses are increasing with 6%

if discounting rate is 9% what shall be the human life value of Naresh?

Health insurance sum insured 5,00,000 and co-insurance 80 Percent : 20 Percent,Deductible 50000.If expenses on a medical emergency is 1,50,000,what shall be the amount of claim settled ?

Sumit has a son who is 8 years old and would have Higher education expenses from the 18 years of age for four years.Current Eduation expenses are 5 lac per annum.What shall be the amount of deposit as on today if a lumpsum investment is done at the rate of 11%.

Anand has a son who is five years old and will rquire five years of expenses starting from 18 years of age current education expenses are 4 lac rs per annum and the education expenses are increasing at the rate of 6.5% if the investment is done at the rate of 14%. What shall be a one time deposit for the goal

Pratap is 32 years old and his wife is 28-year-old. Pratap wants his wife to be covered till her 60 years of age. For 50,000 Rs per month Inflation adjusted expenses which are expected to increase at the rate of 6%. If discounting rate is 10%. What will be the human life value?

A family’s monthly expenditure is Rs. 50,000. The earner accounts for 20% of the expense. He wants to cover his family’s inflation-adjusted expenses for the next 30 years considering average inflation at 5.5% p.a. and the investment return at 7.5% p.a. The approximate life insurance needed is ____.

Ram has taken a property insurance of 2.78 Cr where the current valuation of Building is 3 Cr. With 90% co insurance provision if there is a loss of 1 Cr what shall be the claim amount settled.

Combination of traditional protection and savings function of life insurance with the growth potential of equity.

Insurance contract is drafted by company and it is signed by Policy holder who has no power to negotiate or modify the terms and conditions of the said contract. It’s because insurance being a contract of.

The insured pays the premiums without receiving anything in return besides coverage until the policy pays out. In the event of a payout, it can far outweigh the premiums paid. . It’s because insurance being a contract of.

At which type of Insurance Principal of Indemnity does not apply ?.

Which is among is a Pure Risk ?

A deductible is a form of

A policy in which Premiums may even be skipped occasionally as long as the cash value has enough funding to cover the expense and mortality charges to keep the policy in force?

All Life Insurance contracts are based on the principle of Utmost Good Faith. In which of the following cases has a material fact been concealed by the prospect?

Keshav has few years in retirement and has a medium Life expectency. He do not have any other income source and needs money for some ongoing regular medical expenses. What kind of annuity you will suggest to him ?

Prabhu is retired and with growing age now He can’t do his daily activities and need assitance to perform them, However he doesn’t require any Doctor or Nurses .what kind of LTC ( long term care) insurance is suitable to cover such kind of risk

Sujoy is a software professional,Due to unfortunated disease He is on bed and can’t really move. He needs Care for the whole day. What kind of LTC insurance can cover this type of risk ?

What could be the example of Risk retention among the different options given ?

There are four insurance concepts that apply to insurance law that affect the operation of the insurance policy. The transfer of rights and entitlements from one individual to another most likely falls under which of the concepts:

Risk management and insurance planning can be shown as a process that has six steps. Which of the following is the second step in the process?

Which of the following statement is correct?Statement 1: Perils are cause of loss and Hazards are the things that increase the chance of loss by a peril .Statement 2: Hazards are cause of loss and perils are the things that increase the chance of loss by a hazard.

ABC Ltd has a retirement age of 58 years. Rahim, an employee, at age 32 expected increments of 7% p.a. as per company policy when his annual net earnings were Rs. 5.50 lakhs. After 6 years, he got the next cadre and his annual net earnings became Rs. 9 lakhs. The increments in the revised cadre are at 9% p.a. He had purchased a life cover by income replacement method at age 32. What additional cover is required if he expects his investments to yield 10.25% p.a.?

Disability insurance protects against morbidity risk and whole life insurance protects against mobility risk.

While recommending a life cover, it is important for a financial planner to first identify the client’s priorities along with a focus on funding. Which one of the following type of life cover may be most beneficial for a client who wants lifetime coverage with a flexibility of premiums, no participation in equity/bond market but is fine with the uncertainty about cash values ?

What characteristics is shared by whole life, universal life and variable life insurance policy?

Which of the following is an advantage of employer provided group health insurance plan?

Policyholders of the participating plans get a share of the profits from the insurer in the form of bonuses. Which one of the following statement is a feature of reversionary bonus paid under a traditional insurance policy?

Comprehensive medical policies may have 3 cost contaminated features to help keep cost down: deductible, co-insurance and co-payment. As a financial planner while discussing one such medical plan with your client, how would you explain him the co-insurance feature in medical policy

Participating life insurance policies, issued by mutual companies, distribute the divisible surplus by way of dividends to its policy owners. Which one of the following statements is true with regard to the distribution of such dividends?

Monika A financial planner, has advised Prakash to also buy annuities especially the one which would offer some of the growth potential of a stock market while ensuring the downside protection as in a guaranteed annuity. Which type of annuity is being referred here by that financial planner to Prakash?

Term products include the regular term policies and multiyear term policies. Which one among the following is a major feature of multiyear term policies?

What characteristics is shared by whole life, universal life and variable life insurance policy?

Ammy, a conservative Investor would retire in a few years. She has invested her own funds and would not get any terminal funds when she retires. She would have a medium life expectancy and would not have any alternative source of income during retirement years. If you as her financial planner, where to recommend annuity, what would be its type?

Participating life insurance policies, issued by mutual companies, distribute the divisible surplus by way of dividends to its policy owners. Which one of the following statements is true with regard to the distribution of such dividends?

During the initial stage of discussions and evaluations of our clients risk exposure come on which question should ideally be on top of mind for the client?

Mr. Aman age 26 years, is working with an investment management company. His psychology is adventurous. During one of the vacations he buys a ticket at a ski resort for skiing. The receipt underlines that the skier assumes all risks inherent to skiing, up to and including death. Which of the following risk management techniques is used in this instance by the ski resort?