Preview Questions Insurance Advisor | Role Specific Skill

Question 1: When recommending a policy for a client looking for tax-efficient investment options, which life insurance product is typically most appropriate?

Which action should you take?

Choose only one option

A whole life or universal life policy with a cash value accumulation feature

A basic auto insurance policy with optional life coverage

A term life insurance policy with no investment component

A homeowners insurance policy with a built-in savings plan

Question 2: How does underwriting risk affect the design of a health insurance product for high-risk clients?

Which action should you take?

Choose only one option

The premium rates are adjusted based on the client's health history and lifestyle habits

The product includes higher premiums for high-risk clients but guarantees full coverage

The product is adjusted to exclude coverage for pre-existing conditions

The policy offers guaranteed acceptance with no underwriting required for high-risk clients

Question 3: How should an advisor approach the recommendation of a business overhead expense (BOE) policy for a self-employed professional?

Which action should you take?

Choose only one option

Advise a policy with coverage for both fixed and variable business expenses

Recommend a policy with a low premium but high coverage limits

Recommend a policy that covers the most expensive business expenses only

Suggest a policy with a long elimination period to minimize costs

Question 4: How does the client's risk appetite influence the selection of an insurance policy with investment components?

Which action should you take?

Choose only one option

It has no effect on the policy selection process

It determines whether a more conservative, balanced, or aggressive policy should be recommended

It determines the payment structure of the premiums

It only influences the amount of coverage provided

Question 5: What is the primary purpose of the guaranteed insurability rider?

Which action should you take?

Choose only one option

To ensure the policyholder can borrow against the policy

To allow the policyholder to increase coverage without medical underwriting

To add critical illness coverage at no additional cost

To provide a fixed premium for the life of the policy

Question 6: What is the primary function of the IRDAI's Integrated Ombudsman Scheme?

Which action should you take?

Choose only one option

To settle disputes between insurers and policyholders

To set policy premium rates

To regulate insurance premiums across the industry

To assist insurers in improving their services