Preview Questions Insurance Advisor | Role Specific Skill

Question 1: In terms of client retention, why is personalization of insurance products so important?

Which action should you take?

Choose only one option

It leads to frequent policy revisions and renewals

It increases client satisfaction by aligning the policy with their specific needs

It allows you to offer higher-priced products to increase commissions

It makes it easier to cross-sell unrelated products

Question 2: How can an insurance advisor build rapport with clients who are reluctant to disclose personal information?

Which action should you take?

Choose only one option

Avoid asking sensitive questions

Offer multiple discounts to entice them

Be transparent about the need for information and its importance for their benefit

Focus only on selling the policy

Question 3: What is covered under a Comprehensive Car Insurance Policy?

Which action should you take?

Choose only one option

Only own vehicle damage

Only third-party liability

Both third-party liability and own damage

Only accidental death

Question 4: What is a key benefit of a term insurance policy with a return of premium (TROP) feature?

Which action should you take?

Choose only one option

It provides a higher death benefit payout

It offers an annual bonus

It returns the premiums paid at the end of the policy term if the policyholder survives

It covers critical illness

Question 5: In selling a hybrid annuity-life product with a guaranteed income rider, which presentation method helps a sophisticated client grasp the complexity of fee structures, rider costs, and underlying account performance assumptions?

Which action should you take?

Choose only one option

Avoiding discussion of rider costs to speed up the sale process

Providing a layered fee breakdown, scenario-based illustrations, and sensitivity analyses for market returns vs. guaranteed income streams

Simplifying all fees into one number and minimizing details

Using a single static illustration assuming a high fixed return

Question 6: When negotiating a policy with a client, how should an insurance advisor handle the price objection?

Which action should you take?

Choose only one option

Explain the long-term value and the benefits that justify the price

Compare the product with other options without focusing on value

Offer a limited-time discount without explaining the product's value

Lower the price immediately to make the sale