General Insurance IRDA Exam Papers

I have applied for IRDA General Insurance Agent Recruitment exam. I need its sample papers to check my confidence for examination. So can you give me those sample papers or give source from where I can download papers of IRDA General Insurance Agent Recruitment exam with answer keys.

Hello sir, Im preparing for General Insurance IRDA Exam I want old question Papers. Will you please provide me here General Insurance IRDA Exam Papers?

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The Insurance Institute of India is conducts every year an all India based competitive exam for recruitment of Insurance agents and is known by the name of IRDA exam or Insurance Regulatory and Development Authority exam.

Paper will help the candidates to better prepare for the exams by understanding the type of questions that usually come in the exam and give a fair idea of the difficulty of the questions.

Papers will help you to understand the syllabus, pattern and how the pattern and difficulty levels have evolved over the years.

Principles of Insurance General Insurance IRDA Exam Papers





Principles of Insurance General Insurance IRDA Exam Papers:

I. Select the appropriate answer to complete the sentence (Checking learning - Direct)
i. Insurance works on the principle of:
a. Sharing of losses
b. Probabilities
c. Large numbers
d. Randomness
e. All of the above
Ans: e. All of the above.

ii. Insurance helps to:
a. Prevent adverse situations from occurring
b. Reduce the financial consequences of adverse situations
c. Negate all consequences of adverse situations
d. Make assets continuously productive
e. All of the above
Ans: b. Reduce the financial consequences of adverse situations.

II. State which of the statements is/are correct (Checking learning - Direct)
i. The term Risk includes:
a. Damage to machinery and property
b. Impact on the health or life of a person
c. Leakage of toxic products into the atmosphere
d. Effect on the healthy life of the neighbourhood
e. All of the above
Ans: e. All of the above.

ii. The main purpose of having Life insurance is:
a. As an avenue for long-term investment
b. As a medium for getting income tax benefits from savings
c. As a governmental programme for reducing poverty
d. As an avenue for short-term investment
e. None of the above
Ans: e. None of the above.

III. Answer the questions below by selecting the correct answer: (Checking learning - Direct)
i. Which of the following intermediaries do not require IRDAs licence/ approval to operate in India?
a. Insurance Brokers
b. Insurance Agents
c. Third Party Administrators
d. Surveyors
e. All the above intermediaries require IRDAs licence/ approval
Ans: e. All the above intermediaries require IRDAs licence/ approval

ii. An actuary is expected to:
a. Make an exact forecast of the future liabilities of policies
b. Make a reasonable forecast of the future liabilities of policies
c. Calculate the premium required to cover a risk on a long-term basis
d. Find the probability of an insured event to happen in non-life policies
e. All the above statements are incorrect
Ans: b. Make a reasonable forecast of the future liabilities of policies
IV. Fill in the Blanks using the appropriate word(s) (Checking understanding - Indirect)

i. The principle of _____________ ensures that an insured does not profit by insuring with multiple insurers
a. Subrogation
b. Contribution
c. Co-insurance
d. Indemnity
e. Particular Average
Ans: b. Contribution

ii. The principle of average applies when the value is _____________ in the proposal
a. Understated
b. Overstated
c. Not ascertainable
d. Negligible
e. Only sentimental
Ans: a. Understated

iii. Fidelity Guarantee Policies cover losses due to fraud by ____________
a. Employees
b. Customers
c. Borrowers
d. Suppliers
e. Financiers
Ans: a. Employees

V. Select the expanded form of the abbreviation given (Checking understanding - Indirect)
i. CTL as used in insurance
a. Contributory Total Loss
b. Constructive Total Loss
c. Construction Totally Lost
d. Contractors Total Loss
e. Co-insurers Tally of Loss
Ans: b. Constructive Total Loss

ii. GA as used in insurance
a. General Assurance
b. General Average
c. General Adjustment
d. Guaranteed Assurance
e. Guaranteed Average
Ans: b. General Average