Preview Questions Insurance Advisor | Role Specific Skill

Question 1: In a scenario where a potential client has many options for insurance policies, what strategy would be most effective in differentiating your offering?

Which action should you take?

Choose only one option

Highlight your agency's superior customer service

Provide the cheapest policy available

Emphasize a personal connection with the client

Offer the most complex policy for added value

Question 2: What is the key advantage of an insurance policy with a "waiver of premium" rider?

Which action should you take?

Choose only one option

It reduces the premium during certain conditions

It guarantees the death benefit payout

It increases the cash value accumulation

It allows premiums to be waived if the policyholder becomes disabled

Question 3: What is the typical lock-in period for ULIPs under Indian regulations?

Which action should you take?

Choose only one option

3 years

10 years

7 years

5 years

Question 4: How should an insurance advisor comply with the Privacy Policy requirements when handling client data?

Which action should you take?

Choose only one option

Ensure that personal information is collected, stored, and shared only with client consent

Ignore data protection laws if the client doesn't ask about it

Only share generalized data that doesn't reveal individual details

Share client data with third-party agencies for better service delivery

Question 5: What is the primary risk associated with variable life insurance policies?

Which action should you take?

Choose only one option

Market fluctuations that impact the cash value and death benefit

Underwriting risks related to the applicant's health

The policyholder's inability to make premium payments

Interest rate risks affecting the guaranteed benefit

Question 6: How can an insurance advisor demonstrate empathy during a difficult claims process?

Which action should you take?

Choose only one option

Avoid contact with the client until the claim is resolved

Maintain regular communication, offer support, and explain the claims process clearly

Provide a refund and discontinue any further support

Offer a similar policy with better terms immediately