C09 Grievance Redressal Mechanism MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on C09 Grievance Redressal Mechanism, 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 C09 Grievance Redressal Mechanism 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 C09 Grievance Redressal Mechanism mcq questions that explore various aspects of C09 Grievance Redressal Mechanism problems. Each MCQ is crafted to challenge your understanding of C09 Grievance Redressal Mechanism 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 C09 Grievance Redressal Mechanism MCQs are your pathway to success in mastering this essential IC38 Life Insurance Agent Exam topic.

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C09 Grievance Redressal Mechanism MCQs | Page 4 of 6

Discover more Topics under IC38 Life Insurance Agent Exam

Q31.
Which government body established the Insurance Ombudsman Rules 2017?

a.

IRDAI

b.

Central Government

c.

State Government

d.

Insurance Regulatory Authority

Discuss
Answer: (b).Central Government Explanation:The Central Government, under the powers of the Insurance Regulatory & Development Authority Act, 1999, established the Insurance Ombudsman Rules 2017.
Q32.
To which types of insurance do the rules regarding Insurance Ombudsmen apply?

a.

Only group insurance policies

b.

All corporate insurance policies

c.

All personal lines of insurance

d.

Only policies issued to micro enterprises

Discuss
Answer: (c).All personal lines of insurance Explanation:The rules regarding Insurance Ombudsmen apply to all personal lines of insurance.
Q33.
What type of complaints are addressed by Insurance Ombudsmen?

a.

Only complaints related to premium payments

b.

Only disputes about policy terms and conditions

c.

Various complaints, including claim settlement, premium disputes, and policy servicing

d.

Only complaints against corporate entities

Discuss
Answer: (c).Various complaints, including claim settlement, premium disputes, and policy servicing Explanation:Insurance Ombudsmen address various complaints, including claim settlement, premium disputes, policy servicing, and more.
Q34.
What is the objective of the Insurance Ombudsman rules?

a.

To favor insurers and their agents

b.

To resolve complaints in a cost-effective and impartial manner

c.

To promote corporate insurance policies

d.

To increase premium rates

Discuss
Answer: (b).To resolve complaints in a cost-effective and impartial manner Explanation:The objective of the Insurance Ombudsman rules is to resolve complaints in a cost-effective and impartial manner.
Q35.
In what capacity can the Ombudsman act, by mutual agreement of the insured and the insurer?

a.

As an insurance agent

b.

As a lawyer

c.

As a mediator and counsellor

d.

As an underwriter

Discuss
Answer: (c).As a mediator and counsellor Explanation:The Ombudsman, by mutual agreement of the insured and the insurer, can act as a mediator and counsellor.
Q36.
What is the finality of the Ombudsman's decision regarding a complaint?

a.

The decision is subject to review by the insurer's legal department

b.

The decision can be appealed to the Supreme Court

c.

The decision of the Ombudsman is final

d.

The decision can be appealed to the National Commission

Discuss
Answer: (c).The decision of the Ombudsman is final Explanation:The decision of the Ombudsman, whether to accept or reject the complaint, is final.
Q37.
What must a complaint made to the Ombudsman contain?

a.

Just the nature of the loss

b.

The relief sought

c.

Only the facts giving rise to the complaint

d.

The facts, supported by documents, the nature and extent of the loss, and the relief sought

Discuss
Answer: (d).The facts, supported by documents, the nature and extent of the loss, and the relief sought Explanation:A complaint made to the Ombudsman should contain the facts giving rise to the complaint, supported by documents, the nature and extent of the loss, and the relief sought.
Q38.
When can a complaint be made to the Ombudsman regarding an insurance company's actions?

a.

If the insurance company rejects the complaint without a prior representation

b.

If the complainant is not satisfied with the insurance company's premium rates

c.

If the insurance company takes longer than one week to reply to the complaint

d.

If the insurance company rejects the complaint, or the complainant is not satisfied with the reply, and certain conditions are met.

Discuss
Answer: (d).If the insurance company rejects the complaint, or the complainant is not satisfied with the reply, and certain conditions are met. Explanation:A complaint can be made to the Ombudsman if certain conditions are met, including the rejection of the complaint or dissatisfaction with the reply from the insurance company.
Q39.
What is the maximum value of the claim, including expenses, for a complaint to be eligible for the Ombudsman's intervention?

a.

Rs 10 lakhs

b.

Rs 20 lakhs

c.

Rs 30 lakhs

d.

Rs 40 lakhs

Discuss
Answer: (c).Rs 30 lakhs Explanation:The maximum value of the claim, including expenses, for a complaint to be eligible for the Ombudsman's intervention is Rs 30 lakhs.
Q40.
How long does the Ombudsman have to make recommendations after receiving a complaint?

a.

1 week

b.

1 month

c.

3 months

d.

6 months

Discuss
Answer: (b).1 month Explanation:The Ombudsman is required to make recommendations within one month of receiving the complaint.
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