Preview Questions Insurance Advisor | Role Specific Skill

Question 1: In terms of compliance with insurance fraud prevention, what must an insurance advisor do?

Which action should you take?

Choose only one option

Ignore minor inconsistencies and continue the sales process

Only report fraud when a client requests assistance in doing so

Report any suspicious activity or fraud-related issues according to internal protocols

Proceed with sales without questioning unusual client behavior

Question 2: What is the most effective way to convert a lead into a client in the insurance industry?

Which action should you take?

Choose only one option

Building rapport and trust through consistent communication

Focusing primarily on product features and benefits

Pushing for immediate sign-up without addressing concerns

Offering free trials of the insurance policy

Question 3: How does the advisor ensure that the client's health insurance plan aligns with their overall financial strategy?

Which action should you take?

Choose only one option

By aligning the coverage to the client's financial objectives and income goals

By evaluating the client's past medical claims and predicting future needs

By focusing on low-cost, low-coverage policies to reduce premiums

By only considering the client's current age and lifestyle habits

Question 4: Which of the following strategies would be most effective in closing a high-value life insurance policy?

Which action should you take?

Choose only one option

Focusing solely on the policy benefits

Pressuring the client to make a quick decision

Offering immediate discounts

Using a consultative approach to understand client needs

Question 5: What is the most effective way to manage a situation where a client is unhappy with their policy but is hesitant to provide feedback?

Which action should you take?

Choose only one option

Push them to provide feedback immediately

Tell them that other clients are satisfied, so they should be too

Ignore their concerns and proceed with the next sale

Empathize with their concerns and offer to discuss their dissatisfaction privately

Question 6: For evaluating the operational risk of an insurer's own processes (e.g., underwriting errors, compliance failures), which approach best quantifies potential losses beyond historical incidents to anticipate emerging operational risk factors?

Which action should you take?

Choose only one option

Ignoring operational risk quantification and assuming minimal impact

Implementing a scenario-based operational risk framework incorporating external data, expert judgment, and control effectiveness assessments

Using only past internal loss data without forward-looking considerations

Applying a flat percentage buffer on all operational metrics