Online Mock Test- III Licentiate Exam Preparation IC 02 Practice of Life Insurance

 Online Mock Test- III Licentiate Exam Preparation  IC 02 Practice of Life Insurance

Mock Test- III Licentiate Exam Preparation Mock Test - IC 02 Practice of Life Insurance

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ABOUT THIS MOCK TEST-

There are 6 Mock Tests 100 Questions Each, To help individuals gauge their current level

of knowledge and further enhancement of confidence for real III exam. Mock Tests in this book are specially designed Learning Outcome wise & Test Objective wise as outlined by III for each chapter.

This online mock test aims to equip learners with a comprehensive understanding of relevant expertise needed for success in III Licentiate Exam for IC 02 - Practice of Life Insurance.

NOTE-

This mock test is part of my printed guide book with 1500+ Question bank: III Licentiate Exam Preparation Guide IC 02 Practice of Life Insurance with 1500+ Question Bank Revised

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-Knowledge Area Covered on This Online Mock Test-

Knowledge Area 1

• Activities of the life insurance company

• Appointment of life insurance agents and their functions

• Continuance of Agency

• Growth of Insurance business in India

• Liberalisation of the Indian insurance sector

• Trends in life insurance distribution channel

• Knowledge Area 2

• Factors that are considered in the calculation of premium

• Premium Loading

• Understand the concept of bonus

• Understand the concept of premium

Knowledge Area 3

• Analyse various life insurance plans

• Child Insurance Plan

• Convertible Plans & With Profit / Without Profit

• Endowment Plan

• industrial life insurance

• Joint Life Insurance Plans

• Money Back Insurance Plan

• Postal Life Insurance (PLI)

• Term Insurance Plan

• Understand the benefits of MWP Act

• Understand the importance of health insurance

• Understand the importance of keyman insurance

• Understand the importance of riders

• Understand the importance of ULIPs.

• Whole Life Insurance Plan

Knowledge Area 4

• Analyse the different types of annuity plans

• Understand the concept of annuity

Knowledge Area 5

• EDLI & Social Security Scheme

• Group Gratuity Scheme

• Group Leave Encashment Scheme

• Group Superannuation Scheme

• Learn about the different group insurance schemes

• Types of pension

• Understand the importance of group insurance

Knowledge Area 6

• Compare ULIPs with traditional insurance products

• Concept of ULIPs

• Understand the features of a ULIP

Knowledge Area 7

• Understand how life insurance policies are underwritten

• Understand the fundamentals o f a life insurance contract

• Understand the life insurance application process

Knowledge Area 8

• conditions and privileges in an insurance policy

• Importance of the policy document and the information contained in it

Knowledge Area 9

• concept of premium, its calculation and frequency of payment of premium

• surrender value and non-forfeiture options

• ways in which lapsed policy can be revived

Knowledge Area 10

• assignment of insurance policies

• foreclosures and loans against insurance policies

• nomination feature and its importance

• surrender of an insurance policy

Knowledge Area 11

• Accidental Death Benefit, Permanent Disability Benefit and post maturity options

• claims and their different types

• proof of title of claimant, claim concession and presumption of death

• types of death claims