C07 Documentation MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on C07 Documentation, a fundamental topic in the field of IC38 Life Insurance Agent Exam. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our C07 Documentation MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of C07 Documentation mcq questions that explore various aspects of C07 Documentation problems. Each MCQ is crafted to challenge your understanding of C07 Documentation principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC38 Life Insurance Agent Exam tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our C07 Documentation MCQs are your pathway to success in mastering this essential IC38 Life Insurance Agent Exam topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of C07 Documentation. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your C07 Documentation knowledge to the test? Let's get started with our carefully curated MCQs!

C07 Documentation MCQs | Page 6 of 6

Discover more Topics under IC38 Life Insurance Agent Exam

Q51.
What are the Anti-Money Laundering (AML) guidelines issued by IRDAI primarily concerned with?

a.

Ensuring maximum profitability for insurance companies

b.

Determining insurance policy rates

c.

Identifying true customer identity, reporting suspicious transactions, and record keeping

d.

Improving customer service for policyholders

Discuss
Answer: (c).Identifying true customer identity, reporting suspicious transactions, and record keeping Explanation:The AML guidelines issued by IRDAI primarily focus on identifying the true customer identity, reporting suspicious transactions, and proper record keeping to prevent money laundering.
Q52.
Which of the following is not acceptable as valid Age Proof?

a.

Birth certificate extracted from municipal records

b.

Birth Certificate issued by Member of Legislative Assembly

c.

Passport

d.

PAN Card

Discuss
Answer: (b).Birth Certificate issued by Member of Legislative Assembly Explanation:Valid age proof is essential in the insurance industry to determine the correct age of the insured. While options (a), (c), and (d) are considered standard age proofs and are generally accepted by insurance companies, option (b) is not acceptable as a valid age proof. A birth certificate issued by a Member of Legislative Assembly is not typically recognized as an official and standard document for verifying one's age.
Q53.
What is the primary purpose of a prospectus in the insurance industry?

a.

To verify the policyholder's age

b.

To serve as a standard age proof

c.

To provide detailed information about insurance products

d.

To determine the true identity of customers

Discuss
Answer: (c).To provide detailed information about insurance products Explanation:A prospectus in the insurance industry is a formal legal document that serves the purpose of providing detailed information about insurance products to prospective policyholders.
Q54.
What is the common name for the application document used for making an insurance proposal?

a.

Proof of identity

b.

Age proof

c.

Prospectus

d.

Proposal form

Discuss
Answer: (d).Proposal form Explanation:The application document used for making an insurance proposal is commonly known as a "proposal form."
Q55.
Which of the following is considered a standard age proof in the insurance industry?

a.

Passport

b.

Horoscope

c.

Certificate from village panchayat

d.

Address proof

Discuss
Answer: (a).Passport Explanation:A passport is considered a standard age proof in the insurance industry.
Q56.
In the KYC procedure for insurance, what documents are typically collected to determine the true identity of customers?

a.

Birth certificate and school certificate

b.

Horoscope and marriage certificate

c.

Address proof, PAN card, and photographs

d.

Proposal form and prospectus

Discuss
Answer: (c).Address proof, PAN card, and photographs Explanation:In the KYC (Know Your Customer) procedure for insurance, documents like address proof, PAN card, and photographs are typically collected to determine the true identity of customers.
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