Preview Questions Insurance Advisor | Role Specific Skill

Question 1: When introducing performance-based rating structures (e.g., usage-based premiums) to a skeptical client, which client management technique fosters acceptance and long-term engagement?

Which action should you take?

Choose only one option

Forcing the client to adopt the new rating system without explanation

Downplaying the rating model and hoping the client won't question it

Presenting only complex actuarial formulas for premium calculations

Demonstrating how performance metrics impact pricing, providing transparent examples, inviting the client to test scenarios, and offering periodic reviews to ensure fairness

Question 2: What is the significance of IRDAI (Insurance Regulatory and Development Authority of India) in the role of an insurance advisor?

Which action should you take?

Choose only one option

The IRDAI regulates and supervises the insurance industry to ensure fair practices

The IRDAI approves claims on behalf of clients

The IRDAI calculates commissions for insurance advisors

The IRDAI sets the premiums for all types of insurance policies

Question 3: How should an insurance advisor demonstrate value to a client beyond just offering a policy?

Which action should you take?

Choose only one option

By focusing only on claims processing and policy servicing

By delivering advice that aligns with the client's financial goals and needs

By providing only discounts on premiums

By frequently contacting clients for sales purposes

Question 4: How can an insurance advisor effectively use CRM (Customer Relationship Management) tools to improve client retention?

Which action should you take?

Choose only one option

By tracking client interactions, preferences, and renewal dates to offer personalized services

By sending mass marketing emails to all clients

By focusing solely on acquiring new clients

By automating client communication without tailoring messages

Question 5: When analyzing a client's business insurance needs, what should be the primary focus?

Which action should you take?

Choose only one option

The business's key persons and the financial impact of their loss

The market value of the business liabilities

The liquidation value of the business assets

The client's personal health risks

Question 6: When advising a family with young children and a significant mortgage, which life insurance policy would be best to ensure financial security in case of the primary earner's death?

Which action should you take?

Choose only one option

Variable life insurance with investment options

Term life insurance with a coverage amount equal to the mortgage

Universal life insurance with premium flexibility

Whole life insurance with a large death benefit