Insurance

1. Primary care can be described as _________.

Care provided to patient in an acute setting
Care provided in hospitals
First point of contact for people seeking healthcare
Care provided by Doctors

Detailed SolutionPrimary care can be described as _________.

2. Moral hazard by health insurance companies can result in _________.

Community rating
Adverse selection
Abuse of health insurance
Risk pooling

Detailed SolutionMoral hazard by health insurance companies can result in _________.

3. Who cannot be covered under a family floater policy?

Children
Spouse
Parents-in-law
Maternal uncle

Detailed SolutionWho cannot be covered under a family floater policy?

4. Which of the below group would not be eligible for a group health insurance policy?

Employees of a company
Credit card holders of an organisation
Professional association members
Group of unrelated individuals formed for the purpose of availing group health insurance

Detailed SolutionWhich of the below group would not be eligible for a group health insurance policy?

5. The term TPA refers to _________. (Answer with regards to health insurance)

The Primary Associate
To Provide Assistance
Third Party Administrator
Third Party Assistance

Detailed SolutionThe term TPA refers to _________. (Answer with regards to health insurance)

6. In an ordinary annuity, payments are made or received _________ of each period.

At the beginning
At the end
On maturity
6 months before expiry

Detailed SolutionIn an ordinary annuity, payments are made or received _________ of each period.

7. What is the basic contingency associated with pensions?

Mortality
Morbidity
Post-retirement income security
Disability

Detailed SolutionWhat is the basic contingency associated with pensions?

8. Which of the below risk cannot be addressed through pensions?

Life longevity
Inflation
Investment risk
Early death

Detailed SolutionWhich of the below risk cannot be addressed through pensions?

9. What does unbundling of life insurance products refers to?

Correlation of life insurance products with bonds
Correlation of life insurance products with equities
Amalgamation of protection and savings element
Separation of the protection and savings element

Detailed SolutionWhat does unbundling of life insurance products refers to?

10. Which of the below is correct with regards to universal life insurance? I: It allows policy owner to vary payments. II: Policy owner can earn market based rate of return on cash value

I is true
II is true
I and II are true
I and II are false

Detailed SolutionWhich of the below is correct with regards to universal life insurance? I: It allows policy owner to vary payments. II: Policy owner can earn market based rate of return on cash value

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