IC-23| Application of Life Assurance | Memory based questions
The insurance institute of India conducts the III exam,. The exam is held fourth time every year – Once in March, May, September and in November. 12th December 2020 Application of Life Assurance (IC-23) exam We provide Recollected Questions (Memory based Questions) . In these papers, maximum questions are repeated in every exam. So, Ambitious baba is providing you with IC 23 recollected Question Application of Life Assurance (IC-23) . These Memory based Question Application of Life Assurance (IC-23) will be very useful in upcoming Exam.
Application of Life Assurance (IC-23) Recollected Questions 12.12.20
1. Identify needs in prime earning age pg 3
2. Key areas of financial planning choose from options pg7
3. Examples of dynamic risk- choose correct options pg9
4. Old age/ retirement is a – personal risk pg10
5. A man stopped going for trekking to avoid injury is example of – risk avoidance pg13
6. Risk retention advisable when- SE5 pg22
7. Concept of insurable risk pg16
8. Factors affecting HLV pg17
9. Numerical on HLV 1st one same example (1.3 crore) pg18
10. Which type plan suits young & single – term insurance pg30
11. Person aged in late 20’s having small kids needs which plan- 3rd in table pg 30
12. Example of liquid asset- cash
13. Additions in term plans is called- riders pg34
14. A retired person needs which type of annuity pg 34
15. Definition of will was given, identify it. Pg36
16. Copy of will is called – probate pg36
17. Revocable life trust choose correct options pg37
18. Section 39 deals with- nomination pg39
19. Who can nominate ,choose correct options pg39
20. Estate planning helps in- choose correct options pg40
21. Objectives of estate planning pg41
22. Key man insurance advantages pg43
23. Partnership conditions choose correct options pg44 (b)
24. SE4 on pg50
25. Advantages of health insurance to individuals pg55
26. ESIS employer contribution 4.75% pg58
27. Critical illness plan covers which decease- heart attack was a option pg63
28. Long term care plan is suitable for – choose correct options pg65
29. PA policy 100% loss of limbs means pg66
30. Domiciliary treatment age limit -no limit pg68
31. HMO in USA pg69
32. PPO advantages over HMO pg70
33. Retirement benefit plans in India for govt employees ( all 3 correct) pg79
34. Gratuity fund can be maintained in which ways, choose correct options pg80
35. GPF is a -defined contribution plan pg80
36. Advantages of pension fund managed by life insurer pg87
37. Example of increasing annuity was given identify it pg91
38. Immediate annuity properties pg96
39. Life annuity choose correct options pg99
40. Third way annuity age limit 75 yrs pg102
41. SEP IRA in USA pg 108
42. SE2 on pg119
43. SE4 on pg119
44. TY1 on pg124
45. Choose correct options principles of Takaful pg131
46. TY4 on pg137
47. Al mudarba properties pg139
48. Operating principle of Takaful pg140 last para
49. Minimum capital for family Takaful in Pakistan-PKR 150 million pg142
50. Which Takaful has protection & investment both -Savings Takaful pg146
51. TY6 pg150
52. Transfer of risk is called- cede pg156
53. Quota share example was given identify it
54. Numerical on surplus share insurance pg161
55. Excess of loss example pg163
56. Disadvantage of treaty insurance pg165
57. Big or non standard risk last para pg169
58. Operative clause TY4 pg 174
59. Ultimate net loss is – pg173
60. Ulip lock period- 5 yrs pg188
61. Exclusions under 10(10D) pg188
62. Gratuity is a – statutory liability pg189
63. Provident fund employees -20 or more pg193
64. In PPF Employers contribution deductible upto- 12% pg194
65. SE1 on pg200
66. SE4 on pg201
67. Documents required for maturity claims pg207
68. Death claim documents (a) pg209
69. Nomination choose correct options pg215-216
70. Conditions for assignment pg218 1st para
71. Succession certificate required for pg221
72. SE1 on pg225
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