Preview Questions Insurance Advisor | Role Specific Skill

Question 1: How should an insurance advisor prioritize the financial goals of a client during a needs analysis?

Which action should you take?

Choose only one option

By recommending the highest possible coverage amount

By balancing short-term and long-term objectives

By focusing only on immediate needs

By prioritizing savings over insurance protection

Question 2: How would you explain a complex insurance product to a client without prior knowledge of the product?

Which action should you take?

Choose only one option

Provide them with detailed brochures

Simplify the product by focusing on key benefits and real-life examples

Tell them it's a common policy with minimal risks

Use technical jargon to impress the client

Question 3: What role does an applicant's driving record play in assessing the risk for automobile insurance?

Which action should you take?

Choose only one option

It is only relevant for liability coverage

It helps to predict the likelihood of future claims based on past driving behavior

It is primarily used to determine eligibility for specific coverage

It has no impact on insurance premiums or coverage

Question 4: What differentiates Endowment Plans from Term Insurance?

Which action should you take?

Choose only one option

Savings component

Fixed claim payouts

Longer coverage duration

Higher premiums

Question 5: What type of insurance policy is designed to provide a benefit upon diagnosis of a terminal illness?

Which action should you take?

Choose only one option

Critical illness insurance

Disability insurance

Life insurance with critical illness rider

Terminal illness rider in a life policy

Question 6: Which of the following regulations directly governs the sale of insurance products in the BFSI sector in India?

Which action should you take?

Choose only one option

Securities and Exchange Board of India Act (SEBI Act)

Banking Regulation Act

Financial Services Regulation Act

Insurance Regulatory and Development Authority Act (IRDAI Act)