Preview Questions Insurance Advisor | Role Specific Skill

Question 1: How should an insurance advisor recommend an auto insurance policy for a client with a high-risk occupation?

Which action should you take?

Choose only one option

Suggest a full coverage policy with an endorsement for accidental death

Advise the client to purchase only liability coverage

Suggest a basic coverage policy with a low premium

Recommend a comprehensive policy with a high deductible

Question 2: What is the most effective strategy to build rapport with a new client in the initial meeting?

Which action should you take?

Choose only one option

Discuss pricing options first

Focus primarily on your professional qualifications

Ask open-ended questions about their family and financial goals

Offer them discounts on policies right away

Question 3: Under the IRDAI's regulations, what is the penalty for failing to adhere to the disclosure requirements for insurance products?

Which action should you take?

Choose only one option

A mandatory training session

No penalty as long as the policy is sold

A fine or suspension of the advisor's license

An advisory warning to the firm

Question 4: What is the role of data protection laws (such as GDPR) in insurance advising?

Which action should you take?

Choose only one option

To avoid recording any sensitive personal data from clients

To allow advisors to freely share data across platforms for marketing

To focus on the long-term financial products without concern for data privacy

To ensure that clients' personal information is kept confidential and protected from unauthorized use

Question 5: Which of the following must insurance advisors do before offering a policy to a client according to the Insurance Regulatory and Development Authority of India (IRDAI) guidelines?

Which action should you take?

Choose only one option

Provide clients with a list of the top 5 policies based on commission

Only explain the benefits of the policy

Inform the client of the charges and exclusions within the policy

Offer the policy only after receiving payment

Question 6: In which of the following situations would an insurance policy with a waiver of premium rider be most beneficial?

Which action should you take?

Choose only one option

When the policyholder is looking for a lower premium

When the policyholder becomes unable to pay premiums due to disability

When the policyholder wants more coverage for the same premium

When the policyholder needs a policy with guaranteed renewability