IRDA EXAM: Sample Questions for 50 hours exam

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Created on 12 February 2012 Published Date

Sample solved Question Papers for IRDA 50 hours Agents Training Exam. The answers are marked in bold. From Sashi Publications, Kolkata

1. The concept of insurance involves a transfer of

A. liability.

B. needs.

C. ownership.

D. risk.

2. Rakesh recently bought a health insurance policy and a personal accident policy. What main section(s) of the insurance market do these products normally fall into?

A. Life insurance in both cases.

B. Life insurance for health and non-life insurance for personal accident.

C. Non-life insurance in both cases.

D. Non-life insurance for health and life insurance for personal accident.


3. The main role of an underwriter in a non-life insurance company is normally to

A. assess the acceptability of particular risks.

B. certify a loss when claims are submitted.

C. design the structure of the products to be offered.

D. negotiate with the industry regulator.


4. Akshat is a relatively cautious person. In insurance terms, this will normally increase the likelihood that he will

A. be considered an above average insurance risk.

B. be considered a below average insurance risk.

C. require insurance cover.

D. require reinsurance cover.


5. How are perils and hazards normally distinguished under term insurance policies?

A. Perils are medical factors which influence the risk of dying and hazards are lifestyle activities which influence the risk of dying.

B. Perils are risks that policyholders will die before a specified date and hazards are factors which could influence that risk.

C. Perils are factors which affect the risk being insured and hazards are the size of the risk being insured.

D. Perils are factors which could influence an insured event occurring and hazards are the actual events which will trigger a payout.


6. In insurance terms, the risk of suffering a disability is best described as what type of risk?

A. Financial.

B. Fundamental.

C. Homogenous.

D. Speculative.


7. For a household insurance policy, insurable interest need only exist at outset and at what other point?

A. The date the cancellation period expires.

B. The date a claim occurs.

C. The date the policy document is received.

D. The termination date.


8. Rahul is employed by Sunny. In respect of this employment, Rahul automatically has insurable interest in Sunny’s life up to what limit, if any?

A. Rahul’s monthly salary.

B. Rahul’s pension fund value.

C. Sunny’s annual profit.

D. There is no limit.Sample Questions IC-33 7

9. Arun started a 20-year term insurance policy. Once established, when, if at all, is the insurer next entitled to ask him for proof of continuing good health?

A. At no point.

B. After the end of the first 12 months.

C. At the point when he changes occupation or retires.

D. When a lapsed policy is revived.


10. The concept of indemnity is based on the key principle that policyholders should be prevented from

A. insuring existing losses.

B. making false insurance claims.

C. paying excessively for insurance cover.

D. profiting from insurance.


11. Once an absolute assignment is effected under a life insurance policy, who will be the titleholder(s) of this policy?

A. The assignor in all cases.

B. The assignee in all cases.

C. Either the assignor or assignee depending on the type of policy involved.

D. The assignor and assignee jointly.


12. How long is the free look-in period under a term insurance policy from the date of receipt of the policy document?

A. 5 days.

B. 10 days.

C. 15 days.

D. 20 days.


13. A life insurer issued a quotation on 10 February, guaranteed for 14 days, which was accepted by the customer on day 10. Consequently the insurer can only decline this risk if the

A. customer submits a second quotation request.

B. insurer increases its underlying premium rates.

C. market place experiences a significant downturn.

D. material facts change.


14. A policy document for a money-back policy includes the statement ‘the proposal and declaration signed by the proposer form the basis of the contract’. In which main section of the policy document will this normally appear?

A. Attestation.

B. Operative clause.

C. Preamble.

D. Terms and conditions.


15. A life insurance policy can only be made paid up if what particular policy feature exists?

A. Indexing contribution.

B. Nomination facility.

C. Rider benefits.

D. Savings element.

16. The main reason why a life insurance proposal form often asks for the proposer’s height is to enable a reasonable comparison with the proposer’s

A. age.

B. gender.

C. occupation.

D. weight.


17. Where annually increasing flexible premiums operate under a life insurance policy, what rate of increase will generally apply?

A. 2.5%

B. 3.0%

C. 5.0%

D. 7.5%


18. The amount paid out by the insurer under a 30-year life insurance policy exceeded the sum insured plus revisionary bonuses. The excess is likely to result from?

A. charges refunded.

B. a frequency loading.

C. a tax rebate.

D. a terminal bonus.


19. What normally happens to the sum insured under a life insurance policy once the period of the lien expires?

A. It reduces.

B. It increases.

C. It is temporarily suspended.

D. It is replaced by a newly-underwritten sum insured.


20. The main protection need of a 19-year-old is most likely to be

A. self-protection.

B. home loan protection.

C. protection of dependants.

D. protection of children’s future.


21. Raunak recently arranged a life insurance policy under which he is classed as the master policyholder. This addresses his role as

A. a creditor.

B. a debtor.

C. an employee.

D. an employer.


22. The need for investment advice from an insurance agent normally results from what overriding key factor?

A. Absence of any long-term goals.

B. Inability to prioritise future financial needs.

C. Lack of market knowledge.

D. Shortage of available funds.


23. When undertaking financial planning for individuals without capital, what savings need is likely to be addressed in every single case?

A. Emergency funds.

B. Funds for children’s savings.

C. Funds for educational costs.

D. House purchase funds.Sample Questions IC-33 9

24. Naveen is addressing his income needs by investing directly in corporate bonds. In what form will he receive this income?

A. Annuity instalments.

B. Dividend payments.

C. Interest payments.

D. Rental payments.


25. Nikhil is looking for tax-efficient savings methods for his disposable income. He is considering an equity-linked savings scheme, national savings certificates and an endowment insurance policy. Premiums for which of these investments are allowed to be deducted from his taxable income?

A. The national savings certificates only.

B. The equity-linked savings scheme and the national savings certificates only.

C. The national savings certificates and the endowment insurance policy only.

D. The equity-linked savings scheme, the national savings certificates and the endowment insurance policy.


26. An investor holds a wide range of shares. If the Reserve Bank of India announces a series of significant interest rate increases, the prices of these shares are most likely to

A. become volatile.

B. decrease.

C. increase.

D. stagnate.


27. The main purpose of the guaranteed insurability rider benefit is to give the policyholder the right to

A. cancel a health-based exclusion after a symptom-free period.

B. include his parents under the policy.

C. increase cover when a key life event occurs.

D. maintain cover despite a fall in investment value.


28. The changes in healthcare costs over recent years has had what general impact on healthcare insurance?

A. A fall in average premium levels.

B. A reduction in underwriting requirements.

C. A rise in the need for cover.

D. A strengthening of the insurable interest rules.


29. The general need for a pension policy results from the existence of what key problem?

A. Anticipated fall in income.

B. Lack of employment opportunities.

C. Likely deterioration in health.

D. Uncertainty over investment performance.


30. Yash pays health insurance premiums for himself, his wife and his two children aged 13 and 8. Premiums for which of these individuals will qualify as deductible from Yash’s taxable income?

A. Yash only.

B. Yash and his wife only.

C. Yash, his wife and his oldest child.

D. Yash, his wife and both his children.

31. The sole focus during a client’s fact-find session was healthcare requirements and estate planning. Which main life stage is he most likely to fall into?

A. Young married.

B. Young married with children.

C. Pre-retirement.

D. Retirement.


32. Apart from the salary level, what other key feature of Alok’s job is likely to have a major impact on the level of his pension, life insurance and health insurance needs?

A. Whether the job is office or field-based.

B. The normal retirement age in relation to the job.

C. Whether the job is in the public or private sector.

D. Whether the job is manual or non-manual.


33. In the context of financial planning, how is the difference between real needs and perceived needs best described?

A. Real needs are financial needs and perceived needs are non-financial needs.

B. Real needs are actual needs and perceived needs are based on a client’s thoughts and desires.

C. Real needs are identified by the insurance agent and perceived needs are identified by the client.

D. Real needs are needs which satisfy an objective and perceived needs are needs which do not satisfy an objective.


34. In order to fulfil the ‘know your customer’ procedures, at what stage in the financial planning process is the insurance agent most likely to request a copy of the customer’s photograph?

A. At the end of the fact-find meeting.

B. At the end of the presentation meeting.

C. As soon as the application is accepted by the insurer.

D. As soon as the insurer is ready to issue the policy document.


35. An agent has recommended an investment product with non-guaranteed benefits. The benefit illustration passed to his client will therefore use assumed annual growth rates of

A. 5% and 8%

B. 5% and 10%

C. 6% and 8%

D. 6% and 10%


36. The main purpose of including commission details in the documentation to clients is to increase

A. competitiveness.

B. efficiency.

C. flexibility.

D. transparency.


37. A client has been recommended a low-risk investment product by his insurance agent, but the client insists the agent arranges for the money to be invested in a higher risk product. What action should the agent take?

A. Carry out these instructions, but document that this contradicts the recommendation.

B. Conduct a new fact-find.

C. Invest a reduced amount of money in this product.

D. Refuse to act for the client.Sample Questions IC-33 11

38. An insurance agent has advised a client to surrender an existing investment product and start a new investment product. What key indicator should be used to determine whether this advice was ethical?

A. The best interests of the client.

B. The difference in potential income and capital growth between the two products.

C. The flexibility of the new product compared to the old one.

D. The views expressed by the client.


39. What key impact will low persistency levels have on insurance policyholders?

A. An enhancement in product choice.

B. An improvement in investment performance.

C. An increase in insurance cover.

D. A reduction in benefits.


40. Raju died 5 years before the end of his 30-year endowment insurance policy. What factor most likely caused the insurer to investigate the claim using the early death claim procedures?

A. He paid the most recent premium during the period of grace.

B. His cover was originally accepted with a premium loading on medical grounds.

C. His death resulted from a recently acquired sudden illness.

D. The policy had lapsed and was revived shortly before he died.


41. A claim under a term insurance policy is submitted by an individual who has substantially understated his age. As an alternative to paying out the full claim the insurer is most likely to take what action?

A. Deduct the underpaid premiums from the sum insured.

B. Make the policy paid up.

C. Pay out the surrender value.

D. Reject the claim on the grounds of misrepresentation.


42. On the maturity of an endowment policy, a reduced sum insured is paid out. What is the most likely reason for this?

A. The instalments were commuted by the policyholder.

B. The policyholder’s health seriously deteriorated during the policy term.

C. The policy was made paid up during the policy term.

D. The policy was subject to a lien.


43. What key event is most likely to prevent insurers from ensuring that each insured person brings a fair premium to the pool for the risk presented?

A. A fraudulent claim.

B. A policy assignment.

C. A steep rise in inflation.

D. A sudden illness.


44. An insurance agent served an insurer continually and exclusively for 20 years, after which he retired from work. In accordance with Section 44 of the Insurance Act 1938, renewal commission due to him after the termination of his agency can only be withheld if

A. he ceases to remain a resident of India for tax purposes.

B. he survives beyond the age of 75.

C. there has been a change in regulator.

D. there is fraud involved.

45. Legislation gives which body the power to specify a code of conduct for surveyors and loss assessors?

A. Institute of Insurance and Risk Management.

B. Insurance Regulatory and Development Authority.

C. Life Insurance Council.

D. Securities and Exchange Board of India.


46. What key legacy has been left by the activities of the Tariff Advisory Committee?

A. A central compensation fund.

B. Customer classification status.

C. Illustrative projection rates.

D. Standard policy wordings.


47. Apart from conducting a comprehensive fact-find, the other main action that an insurance agent can take at outset to minimise the risk of subsequently receiving a customer complaint is to

A. ask for referrals.

B. offer commission rebates.

C. provide detailed disclosures.

D. register with the Insurance Ombudsman.


48. An award made by the Insurance Ombudsman will only be binding on the insurer if the

A. complainant accepts this decision.

B. Consumer Forum is involved in the case.

C. insurer signs a disclaimer.

D. value of the award is less than 2 lakhs.


49. A policyholder asked his insurance agent for guidance on submitting a claim for the maturity benefit under his life insurance policy. Due to pressure of work, the agent declined to assist. Consequently, this action is deemed to be a breach of the

A. General Insurance Council’s guidelines.

B. Insurance Regulatory and Development Authority’s Code of Conduct.

C. Insurance Ombudsman’s protocols.

D. Insurance Brokers Association of India’s membership rules.


50. During the process of applying for life insurance, the customer discloses confidentially to the insurance agent that he had a mild stroke four months ago, however this was NOT mentioned on the application form. In accordance with the Insurance Regulatory and Development Authority’s Code of Conduct, how should the insurance agent deal with this information?

A. Ask the policyholder’s doctor to send details to the insurer.

B. Notify the insurer of this matter.

C. Refuse to act for the customer in this case.

D. Respect this confidentiality by not discussing it with anyone else.

© Prepared by The Chartered Insurance Institute 2011


For more Sample questions please visit the following link


Autar krishen koul
+7 #80 Autar krishen koul 2014-03-28 10:17
I want to get registered as INSURANCE Surveyor/Loss Accessor/Valuer.please help me
+3 #79 A.I.WILSON 2014-03-11 15:11
T naveen kumar
+5 #78 T naveen kumar 2014-02-11 11:06
madhusudhan rao
+6 #77 madhusudhan rao 2013-10-10 08:12
Iam going to be prepare the online TATA AIA (IRDA) exam shortly ple help how to attend the online exam.
T hanking you sir,
M.Madhusudhan Rao.
-5 #76 RATAN BHJATTACHARYA 2013-09-28 05:12
pl. you may sent 5 set of most important question paper? if yes sent me to my mail box please. thanks.
+7 #75 S.Thomas 2013-09-24 02:58
Dear Sir/Madam,

Kindly send me sample question papers with corresponding answers of IC-34- general Insurance (New Syllabus), pre recruitment conducted by Insurance Institute of India at your earliest. I just came upon your site. My exam is tomorrow morning.

Thanking you,

S. Thomas
prashant gundekar
+3 #74 prashant gundekar 2013-09-22 09:05
please send me lic agent samplel paper of 2012 in marathi.
Manjunath s r
+6 #73 Manjunath s r 2013-09-10 10:15
dear sir plz send me old model test paper for prerecuruiment exam of li agent,based on latest sylabus at least five set of model taste paper
+7 #72 RAMESH VASU 2013-08-23 17:00
have applied for irda exam can i have irda question and answer sheets

thanks and regards
ramesh vasu
ravi Dheeman
+1 #71 ravi Dheeman 2013-08-18 05:45
get latest updates on banking jobs
Nageswaran AG
+4 #70 Nageswaran AG 2013-08-04 07:56

Would like to become IRDA Agent for Non-Life Insurance. Appearing for Agent online test.

Please send me the model / sample questions with Answers to enable me to practice.

With Regads
ramesh chandra
0 #69 ramesh chandra 2013-07-08 14:05
Please send me a sample question paper so i could get prepaired for IRDA EXAM
Shobhit Gupta
+4 #68 Shobhit Gupta 2013-05-25 14:43
Please send me a sample question paper so i could get prepaired for IRDA EXAM
shambhu kumar gupta
+3 #67 shambhu kumar gupta 2013-05-16 15:40
imbhu kumar gupta am sha
+2 #66 RAJESH KUMAR 2013-05-15 05:25
pls send me previous 5 yrs question paper of IRDA IC-33
-2 #65 RAJESH KUMAR 2013-05-15 05:23
Plz Send me a previous 5 yrs question paper of IRDA IC-33 PLSS....
k v pathak
+2 #64 k v pathak 2013-04-12 07:00
Pl. send me 5 years IRDA Q.papers for Agents Licensing.
sujit das
0 #63 sujit das 2013-03-26 17:02
pl.send me last 2yrs irda Q&a in hindi,english &bengali version.
sarbjit singh
+1 #62 sarbjit singh 2013-03-13 12:23
plz send me general insurance 34 question answer set
sarbjit singh
0 #61 sarbjit singh 2013-03-13 12:21
plz send me irda general insurance 34 question answer set
Taufique zzama
+6 #60 Taufique zzama 2013-03-03 02:24
dear sir plz send me the old model taste paper of icici g incurenc exam least 5 model taste paper so i can do better practice...based on latest pattern
Taufique zzama
+2 #59 Taufique zzama 2013-03-03 02:23
dear sir plz send me the old model taste paper of icici genreal insurenc exam least 5 model taste paper so i can do better practice...based on latest pattern
Taufique zzama
+3 #58 Taufique zzama 2013-03-03 02:20
Ple gave me irda exam paper to icici genrael incurane paper for last five time paper....
Ankit Shrivastav
-1 #57 Ankit Shrivastav 2013-02-26 18:00
plz. send me irda ques. papers of five years........
Ankit Shrivastav
0 #56 Ankit Shrivastav 2013-02-26 17:57
sir plz send me the irda ques. papers of five years..... plz sir
+2 #55 K.PAULPRINCE 2013-02-18 10:29
dearsir please send me a hindi medium question bank for lic agents test thankyou!
+2 #54 K.PAULPRINCE 2013-02-18 10:18
I want hindi model question
manojkumar jain
+3 #53 manojkumar jain 2013-02-08 04:24
please send me last 5 exams question paper
0 #52 amitagupta 2012-12-21 18:07
please send mepaper for last five years.
Arvind sharma
+5 #51 Arvind sharma 2012-12-19 07:34
please send me last 5 exams question paper
0 #50 FRANCIS N J 2012-12-07 11:38
+3 #49 FRANCIS N J 2012-12-07 11:36
very useful
send me more of samples
+4 #48 shabbu 2012-09-27 09:08
+3 #47 Thangaraj 2012-09-25 19:51
Its Very Useful....
+3 #46 Bimabazaar 2012-09-15 12:07
For More questions please visit the link
+2 #45 Raj 2012-09-11 12:42
pls provied the irda ic33 exam paper set
-1 #44 RANI 2012-09-08 14:24
nagender sharma
+4 #43 nagender sharma 2012-09-08 05:17
10 sep my exam date
+5 #42 Raj 2012-09-07 09:09
Yes I found these very useful and I am going to attend the exam within 3 days. anyone is having more question on LIC Agent exam can share as soon as possible or send to me.
+6 #41 kaushik 2012-09-04 11:40
IRDA Questions are very hard
+4 #40 piyali 2012-09-04 08:53
i learned the ird mcq
+5 #39 jayadeepa 2012-09-03 10:46
plz send new syllabus quiz
+1 #38 jayadeepa 2012-09-03 10:45
plz give me new syllabus quiz
+4 #37 PRADEEP KUMAR 2012-09-01 15:58
Dear Sir Can You Provide the ic-33 simple question
+13 #36 A.Parameswaran 2012-09-01 15:04
send me atleast 5 question paper latest
dev kumar
+3 #35 dev kumar 2012-08-31 18:13
dear sir plz send me old model taste paper for prerecuruiment exam of li agent,based on latest sylabus at least five set of model taste paper
dev kumar
+5 #34 dev kumar 2012-08-31 18:09
dear sir plz send me the old model taste paper of lic agent's exam least 5 model taste paper so i can do better practice...based on latest pattern
msr krishna
+4 #33 msr krishna 2012-08-30 13:01
please provide telugu medium ic-33 question bank for irda agts test
Rohit Raman
+2 #32 Rohit Raman 2012-08-26 06:15
Respected sir,
plese give me Life-50 hours study material


Rohit Raman(BDX of BASIX)
+2 #31 bhavsingh 2012-08-21 16:46
dear Sir iam bhavsingh i got dse lic but i want new ic 33 exam model paper
Yamuna V
0 #30 Yamuna V 2012-08-21 09:43
Sir, this question paper is very useful to me thanks but i want to write exam in tamil so plz send me model qn paper in tamil .
+4 #29 pnk-raja 2012-08-20 17:28
good one
+1 #28 jitu 2012-08-16 08:25
sir send me irda nseit exame paper
+3 #27 jitu 2012-08-16 08:24
sir sen me irda online exame paper in nseit of irda
+1 #26 BIMABAZAAR 2012-08-08 15:41
Right now we do not have the question banki in hindi
rupesh kishor
+1 #25 rupesh kishor 2012-08-08 12:50
Sir, Kindly provide me last 3 year online questions (general Insurance) for practice to appearing General insurance agent exam.
+5 #24 kaman 2012-08-08 12:05
dear sir send me the old solved papers in hindi medium
Ajit kumar
+3 #23 Ajit kumar 2012-08-07 10:44
+2 #22 dhananjay 2012-07-27 04:44
plz send marathi test paper
+1 #21 sudhir 2012-07-14 11:25
please send me lic agent samplel paper of 2012
0 #20 Rudramuni 2012-07-13 04:47
pls send telugu
medium question and answer
20 modal paper
+1 #19 amigo 2012-07-10 14:56
sir can u send me more solved questions for irda agent exam.......
+2 #18 RADHAKRISHNAN 2012-07-08 11:57
this is very good of agent, i request atleast sent 5 question answer of 2012 for review purpose
manoj kumar g
+2 #17 manoj kumar g 2012-07-05 04:46
Dear Sir Can You Provide the General Insurance Only Solved Paper last 3 Year
I am Doing the Non Life General Insurance Exam.

sayan mukherjee
+1 #16 sayan mukherjee 2012-07-01 12:01
sir iam an applying for exam if you give me some sample quistion for practice i will be thankful to you
0 #15 rajeshwari 2012-06-26 08:09
IRDA Information
Balasubramanian NR
+4 #14 Balasubramanian NR 2012-06-22 16:14
Why don't you post some more questions for
improving the knowledge, particularly about
the new IC 33
Puran Gurung
+5 #13 Puran Gurung 2012-06-20 16:37
Dear Sir,
Kindly send me 20 sets(50 Q&A)recent new syllabus IRDA solved question & answer. I shall be ever remain very grateful to you.
Thanking You
+1 #12 sekar 2012-06-13 14:56
Dear Sir Can You Provide the General Insurance Only
+3 #11 sekar 2012-06-13 14:51
Dear sir send me sample questions for general insurer
prakash kumar Shrivastava
+5 #10 prakash kumar Shrivastava 2012-06-09 14:32
Dear Sir

pls send me one year old many irda advisor exam paper in hindi medium


prakash kumar Shrivastava
+5 #9 SATISH 2012-06-01 04:49
sir please send me a question in kannada language be cause i have exam in jun 5th i have to attanding in kannada only

Thanks & Regards
verma anoop
+3 #8 verma anoop 2012-05-29 05:51
please give me new ic33 with question & answer
venkata ramana dn
+3 #7 venkata ramana dn 2012-05-26 10:22
Plz send the 50 hrs sample question papers for telugu & english media for life insurance agents immediately.
L K Halba
+6 #6 L K Halba 2012-04-23 15:59
Sir, Kindly provide me last 3 year online questions (general Insurance) for practice to appearing General insurance agent exam.
shyam agarwal
+6 #5 shyam agarwal 2012-03-02 07:04
Quoting SATMAT:
Dear Sir Can You Provide the General Insurance Only Solved Paper last 3 Year
I am Doing the Non Life General Insurance Exam in Next Month


sir, for which general insurance exam question paper do you want ?
shyam agarwal
+3 #4 shyam agarwal 2012-03-02 07:00
Quoting rameshbabu:
i am an aspirant of applying for associate exams but i tried my efforts to apply for the exams through online but it i could find the application which cause me worried and i am loosing the opportunity to apply for the exams. the information what lic is providing to the employees is very worst and useless. LIC MUST LEARN TO PROVIDE CLEAR CUT INFORMATION TO ALL THE PEOPLE .

LIC is reputed brand though but mistakes can happen ...sir if you have any query regarding ASSOCIATE exam...please feel free to contact us by e-mail or phone..
+6 #3 SATMAT 2012-03-01 14:15
Dear Sir Can You Provide the General Insurance Only Solved Paper last 3 Year
I am Doing the Non Life General Insurance Exam in Next Month

+3 #2 rameshbabu 2012-02-28 12:43
i am an aspirant of applying for associate exams but i tried my efforts to apply for the exams through online but it i could find the application which cause me worried and i am loosing the opportunity to apply for the exams. the information what lic is providing to the employees is very worst and useless. LIC MUST LEARN TO PROVIDE CLEAR CUT INFORMATION TO ALL THE PEOPLE .
rajendra shukla
+6 #1 rajendra shukla 2012-02-12 08:42
Irda sample questions for 50 hours are rarely available..tnx bimabazaar..

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