RAP Mock Test – RAP Exam English

1. Law of large number helps Insurer to analyse which key area

2. Regulation issued by IRDA required that the decision on the proposal must be conveyed to the proposer within

3. An agent has recommended an investment product with non-guaranteed benefits. The benefitillustration passed to his client will therefore use assumed annual growth rates of

4. What is maximum level of Insurance premium for which Income Tax benefit is available

5. Weekly premiums are generally collected for which type/range of plans

6. Two friends have taken same policy but their premiums are different . Why ?

7. An advisor while explaining the policy and to sell he accepts to give a part of his Agentscommission, what is the limits

8. Raju is a certified license holder under what circumstances he needs to hold his certifiedlicense with him that is issued by IRDA

9. How much insurance can be given to a working person ?

10. An Award is passed by Ombudsman .In how many days it should be honored by Insurance

11. Mr.Sunil is doing premium calculation for his company, as per which authority is his profession related to

12. While calculating Human life value (HLV) two components need to be kept in mind , the oneis take home salary and other is

13. The rates of assumed annual growth to be shared in the benefit illustration has been decided by which of the authority

14. While recommending a solution to the client, the advisor should, establish the link between,client needs and

15. A Couple has 7 years old son, What solution would they be looking for

16. Which market areas do Micro Insurance product concentrate

17. What is the death benefit if the person has multiple sums assured under different policies?

18. When does cooling off period begin in an insurance policy?

19. A client has taken an endowment policy with SA- 800000 and vested bonuses- 60000. He paid 8 annual premiums in the 30 year plan. Calculate paid-up SA?

20. What is the limit of Ombudsman claim settlement?

21. If the complainant is disagreeing with the decision of the company on the claim then he canapproach to ombudsman in

22. Client rejecting after taking a policy in how many days.When the insured disagrees with anyof the terms or conditions of the policy after the policy is issued, they have the option to returnthe policy stating the reasons for their objection. Within how many days they can return the poly?

23. Complaint council bodies other than IRDA grievance readdress forum & COPA

24. What tax rate, if any, will be applicable to a life insurance policy holder for the maturity proceeds of a Rs 50,000 life insurance policy

25. A claim intimation leads to the publishing of an advertisement in the newspaper. This means

26. Till what period is the interim bonus valid

27. A policy has two nominations. What amount should be given to the two nominees

28. Who is the primary underwriter of the clients

29. ___________ has laid down the Code of Conduct for all agents

30. Sahil & Vijay , both health status same, however Vijay was triggered with medicals. What arethe reasons?

31. Consumer can call Toll free No. for any Grievance or he can also contact

32. Which statement is correct?

33. Which of the following statements is correct?

34. Annual premium of insurance product is Rs. 32,000, 4% loading on Quarterly mode of  payment What is the quarterly premium?

35. When is insurable interest required in an life insurance contract

36. Which of the following risks are insurable?

37. Two People with same term, one person had more premium than others because

38. What are the benefits in investing in insurance plans ?

39. Which plan will suits a customer need who is just looking for protection of family.

40. Who is the customer of a Re insurer 

41. The type of risk that can be insured against is

42. What are the ways by which a policy holder can make complaints

43. As per the norms of risk assessment by U/W both the parents of a policy holder died in their early 30s due to Heart disease, what is the risk assessed

44. Whom should customer contact in case of any dispute for a claim more than 20 lakhs

45. What is the period of award passed to the customer decided by ombudsman?

46. what is the maximum level of complaint that can be considered and taken action byombudsmen

47. A policy has been rejected by the company under direct intimation to the customer and copy tothe Agent, what is the next action of the Agent

48. What facility do insurers use to cover risks beyond their exposure limits

49. In a 20 year with profit policy, persistency Bonus is paid at the end of 

50. What is the free look time available after receiving policy Documents?