ic38 mock test - Quiz Questions (Page 2 of 2)
This quiz contains 20 questions.
Question 11: Which insurance principle requires full disclosure of all material facts?
- Utmost Good Faith (Correct Answer)
- Proximate Cause
- Contribution
- Indemnity
Question 12: What type of insurance covers loss or damage to goods in transit?
- Marine insurance (Correct Answer)
- Health insurance
- Life insurance
- Home insurance
Question 13: Which is an essential element of a valid insurance contract?
- Insurable interest (Correct Answer)
- Maturity date
- Gift
- Inheritance
Question 14: What is a proposal form in insurance?
- Application form (Correct Answer)
- Policy document
- Claim form
- Receipt
Question 15: Which type of insurance policy offers a payout after a specified term or condition?
- Endowment policy (Correct Answer)
- Marine policy
- Liability policy
- Term policy
Question 16: What element involves sharing of risk between multiple insurers?
- Contribution (Correct Answer)
- Subrogation
- Indemnity
- Omission
Question 17: Which clause determines how multiple policies respond to a claim?
- Contribution clause (Correct Answer)
- Exclusion clause
- Payout clause
- Termination clause
Question 18: What does 'Lapse' in insurance policies indicate?
- Policy no longer active (Correct Answer)
- Policy renewal
- Policy upgrade
- Policy claim
Question 19: Which insurance type pays a sum on the death of the insured?
- Life insurance (Correct Answer)
- Health insurance
- Vehicle insurance
- Fire insurance
Question 20: What is the process of evaluating a risk called?
- Underwriting (Correct Answer)
- Claiming
- Adjusting
- Calculating
Test your knowledge with our IC38 mock test, designed for aspiring insurance agents. This quiz covers key insurance ideas, rules, and practices to help you prepare for the IRDAI licensing exam. It’s a simple, straightforward practice tool that builds confidence and deepens your understanding of insurance basics. Enjoy a stress-free learning experience that gets you closer to your career goals.
