lic agent mock test - Quiz Questions (Page 1 of 2)
This quiz contains 20 questions.
Question 1: Which type of life insurance offers coverage for a specific period?
- Term insurance (Correct Answer)
- Whole life insurance
- Endowment policy
- ULIP
Question 2: What is the main role of an LIC Agent?
- Selling life insurance policies (Correct Answer)
- Providing legal advice
- Managing real estate
- Stock investment counseling
Question 3: What does ULIP stand for?
- Unit Linked Insurance Plan (Correct Answer)
- Universal Life Insurance Policy
- Uniform Liability Insurance Plan
- Unique Life Investment Plan
Question 4: Which policy has both insurance and investment components?
- ULIP (Correct Answer)
- Term insurance
- Annuity
- Health insurance
Question 5: What is the primary focus when selling a term insurance policy?
- Coverage protection (Correct Answer)
- High returns
- Tax savings
- Investment growth
Question 6: What is claimed after the policyholder’s death in a life insurance policy?
- Sum assured (Correct Answer)
- Premium refund
- Investment gain
- Collateral
Question 7: How often are premiums typically paid in a life insurance policy?
- Monthly, quarterly, or annually (Correct Answer)
- Once in a lifetime
- Every week
- Only after 10 years
Question 8: Which document details the terms and conditions of an insurance policy?
- Policy document (Correct Answer)
- Prospectus
- Premium receipt
- Claim form
Question 9: What is surrender value of a policy?
- Amount received if policy is terminated early (Correct Answer)
- Value at maturity
- Total premium paid
- Loan amount
Question 10: Which insurance policy provides lifelong coverage with premiums paid for a limited period?
- Limited pay whole life insurance (Correct Answer)
- Endowment plan
- Term insurance
- Health insurance
Test your skills with our LIC Agent mock test! This quiz checks your understanding of insurance products, policies, and regulatory guidelines that every LIC agent in India should know. It also covers essential sales techniques and customer support basics in simple language. If you’re preparing for your LIC agent exam, this test is a perfect way to gauge your progress and boost your confidence.
