Test Your IRDAI - IC 72 Motor Insurance Mock Tests Knowledge in 5 Minutes

1. What is the standard renewal timeframe for a private vehicle driving permit held by an individual older than 50 years?

A. Renewed once for a lifetime B. Renewed annually with fees C. Renewed every three years D. Renewed every five years

2. At what stage does the legal owner of a vehicle possess a valid insurable interest in that vehicle?

A. Only when first buying the policy B. Only when filing a claim C. Only during the policy renewal D. During all stages of the policy

3. Under which legislative act were provisions for the 'Constitution of Road Safety Councils' established?

A. Act No. 59 of 1988 B. Amendment Act 54 of 1994 C. Amendment Act 27 of 2000 D. Amendment Act 39 of 2001

4. Which specific insurance sectors experienced muted competition due to the presence of fixed tariffs?

A. Fire Insurance B. Motor Engineering C. Workmen’s Compensation D. All of the above

5. How many days prior to the expiration of a current policy can a vehicle owner initiate an online renewal?

A. 15 days B. 30 days C. 45 days D. 60 days

6. What is the maximum liability limit for third-party property damage under standard motor insurance?

A. Rs. 2.5 lakh B. Rs. 5.0 lakh C. Rs. 7.5 lakh D. Rs. 10.0 lakh

7. If a policy is not issued following a cover note, within what timeframe must the insurer notify the Registering Authority?

A. 7 days B. 10 days C. 15 days D. 30 days

8. For insurance purposes, which vehicle type has a cabin design most similar to a tipper?

A. Water Tanker B. Common truck C. Bitumen Tanker D. Trailer

9. When applying for insurance, how many years of previous claim history are typically required in the proposal form?

A. 1 to 2 years B. 2 to 4 years C. 3 to 5 years D. 5 to 7 years

10. What is the primary basis for calculating premiums under a 'Differential Rating' system?

A. The owner's credit score B. The specific make and model of the vehicle C. The driver's educational level D. The number of passengers