Sample Questions

IRDAI - IC 38 Insurance Agent Mock Tests — 5 random MCQs with answers & explanations

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These 5 questions are randomly selected (standard MCQs only, not case-based).

Q1 Which situation would NOT be considered a valid reason for a consumer complaint?

A. A shopkeeper charging more than the MRP
B. A shopkeeper failing to suggest the "best" product in a category Correct Answer
C. A medicine bottle missing an allergy warning
D. A consumer receiving a faulty product

Explanation:

While charging over MRP or selling faulty goods is illegal, a shopkeeper is not legally required to give expert advice on which product is "best" for a customer.

Marks: 1

Q2 Insurance companies invest funds mainly to:

A. Increase losses
B. Earn returns Correct Answer
C. Reduce claims
D. Cancel policies

Explanation:

Investments generate returns for claim payments.

Marks: 1

Q3 Which of the following is NOT considered a component of financial planning?

A. Investment planning
B. Portfolio management Correct Answer
C. Retirement planning
D. Tax planning

Explanation:

Financial planning includes investment, retirement, and tax planning. Portfolio management is a separate activity focused on managing investments.

Marks: 1

Q4 A death claim within the first three years of policy issuance is called:

A. Early claim Correct Answer
B. Maturity claim
C. Accidental claim
D. Survival claim

Explanation:

Claims occurring within the initial few years of the policy are classified as early claims and are investigated carefully.

Marks: 1

Q5 PMSBY scheme mainly provides:

A. Health insurance
B. Accident insurance Correct Answer
C. Fire insurance
D. Crop insurance

Explanation:

PMSBY offers accidental insurance coverage.

Marks: 1

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Sample Questions

Q1 Which situation would NOT be considered a valid reason for a consumer complaint?

Q2 Insurance companies invest funds mainly to:

Q3 Which of the following is NOT considered a component of financial planning?

Q4 A death claim within the first three years of policy issuance is called:

Q5 PMSBY scheme mainly provides:

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