PLI / RPLI MCQ Questions

 Disclaimer: - All the Information provided in this post are Compiled by A. Praveen Kumar, PA, Medak HO. Author of blog does not accepts any responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents.

PLI /RPLI Basic Features :

1. Find the wrong from the following

A. Suraksha- Whole Life Insurance

B. Santhosh- Endowment Assurance

C. Yugal Suraksha- Convertible Whole Life Insurance

D. Sumangal- Anticipated Endowment Assurance

Ans: C

2. Anticipated Endowment Assurance Policy term

A. 10 Years and 15 Years

B. 10 Years and 20 years

C. 15 Years and 20 Years

D. 20 Years and 30 Years

Ans : C

3. Under extended clientele base of PLI for 41 years and above , maximum limit of Sum Assured

A. 8 times of Gross Annual Income

B. 7 times of Gross Annual Income

C. 10 times of Gross Annual Income

D. 12 times of Gross Annual Income

Ans:  B

4. The minimum and maximum Sum Assured for RPLI is

A. Minimum of 5000 maximum of 5 lakhs

B. Minimum of 5000 maximum of 5 lakhs

C. Minimum of 10000 maximum of 5 lakhs

D. Minimum of 10000 maximum of 10 lakhs

Ans: D

5. Find the wrong feature of RPLI polices

A. All RPLI Schemes have compulsory medical examination

B. For non standard age proof of RPLI, maximum age limit is 35 years

C. For non medical policies, the maximum sum assured is 25000/-

D. For non medical policies, the maximum age is 35 years

Ans : B

6. 10 years RPLI policy also known as

A. GRAM PRIYA

B. GRAM SUMANGAL

C. GRAM SANTHOSH

D. GRAM SUVIDHA

Ans: A

7.The maximum age limit of entry of RPLI policy is

A. 45 Years in respect of WLA & EA and 50 years of other policies

B. 50 Years in respect of WLA & EA and 45 years of other policies

C. 55 Years in respect of WLA & EA and 45 years of other policies

D. 55 Years in respect of WLA & EA and 40 years of other policies

Ans: C

8. In respect of Children policy, the Child age should be

A.1 to 10 Years

B.5 to 18 Years

C.1 to 18 Years

D.5 to 20 Years

Ans: D

9. Identify the wrong conversion of the policy

A. The WLA policy can be converted to EA policy after 5 Years

B.The CWL policy can be converted into EA policy at the end of 5 year

C.The WLA policy can be converted into EA policy after 1 year

D.The EA policy amount can be reduced after 1 year of Issue and 1 year before of maturity

Ans : A

10. The nomination can be made

A.Maximum for One Person

B.Maximum for two persons

C.Maximum for three persons

D.Maximum for five persons

Ans: C

11. For Yugal Suraksha (Joint Life Assurance} term period

A. Minimum 5 Years Maximum 10 Years

B. Minimum 5 Years Maximum 20 Years

C. Minimum 10 Years Maximum 15 Years

D. Minimum 10 Years Maximum 20Years

Ans: B

12. Acceptance of Cheque towards payment of PLI/RPLI premium to be accounted as

A. Date on Presentation of cheque as date of Payment of Premium

B. Date of Clearance of Cheque as date of Payment of Premium

C. Either A or B

D. Premium Should not be accepted through Cheque

Ans: A

13. For other than professional proponents if the sum Assured Rs 20 lakhs above, any of the following document not required

A. Aadhar Card

B. Salary Skip

C. Bank Statement

D. ITR of last FY

Ans: A

14. For PLI Polices with Sum Assured greater than Rs 20 lakhs, the maximum Sum restricted till 40 years

A. 5 times of Gross Annual Income

B. 7 times of Gross Annual Income

C. 10 times of Gross Annual Income

D. 15 times of Gross Annual Income

Ans : C

                           LAPSE AND REVIVAL

15.The PLI policy treated as lapsed

A. Policy is less than two year old and if due installment are not paid within 6 month the policy may be treated as lapsed

B. Policy is less than three year old and if due installment are not paid within 6 month the policy may be treated as lapsed

C. Policy is less than five year old and if due installment are not paid within 12 month the policy may be treated as lapsed

D. Policy is less than three year old and if due installment are not paid within 12 month the policy may be treated as lapsed

Ans:B

16.In respect of revival of premium, interest per Annum is

A. 6%

B. 8 %

C. 10%

D. 12%

Ans: D

                SURRENDER

17. In respect of Surrender,no bonus is admissible

A. Before completion of 3 years

B. Before completion of 5 years

C. Before completion of 7 years

D. Before completion of 10 years

Ans: B

18. Which of the policy cannot be surrender

A. Endowment Assurance policy

B. Whole Life Insurance Policy

C. Convertible Whole Life Insurance

D. Anticipated Endowment Assurance Policy

Ans: D

LOANS

19. No loan shall be applicable to 

A. Children Policy and Sumangal policy

B. Children Policy and Santhosh Policy

C. Children policy and Suraksha Policy

D. Children Policy and Suvidha Policy

Ans: A

20. Identify wrong term on Loan of the Policy

1. EA policies loan can be availed after 3 Years

2. WLA policies loan can be availed after 5 Years

3. Interest @10% p.a calculated on six month basis

4. Interest is payable once in Six Months

Ans: B

  Claims

21. The Succession certificate may waived by the Head of Circle in respect of PLI death claim where no nomination is exists

A. Rs 100000/-

B. Rs 200000/-

C. Rs 300000/-

D. Rs 500000/-

Ans: C 

22. The time limit for settlement of death Claim involving Investigation

A.  Within 30 days from date of receipt of Claim

B.  Within 60 days from date of receipt of Claim

C.  Within 90 days from date of receipt of Claim

D.  Within 180 days from date of receipt of Claim

Ans : C

               INCENTIVE

23. Development officer will be paid incentive of total PLI new business premium (NBP) procured by Direct agents attached to that DO

A. 1 %

B. 2%

C. 3%

D. 5%

Ans: A

24. Renewal incentive on PLI will not be paid to

A. Direct Agents

B. Franchise outlets

C. Departmental Staff

D. Development officer

Ans: D

25. For all types of RPLI policies, each category of sales force will get following percentage procurement incentive on premium

A. 5 %

B. 7%

C. 10%

D. 12%

Ans: C

BONUS RATES 

26. The latest bonus rates for PLI Endowment Assurance (2020-2021]

A. 72 % per thousand of Sum Assured

B. 56 % per thousand of Sum Assured

C. 54 % per thousand of Sum Assured

D. 52% per thousand of Sum Assured

Ans : D

27. The latest bonus rates for RPLI Whole Life Assurance (2020-2021]

A. 65% per thousand of Sum Assured

B. 60 % per thousand of Sum Assured

C. 55 % per thousand of Sum Assured

D. 50% per thousand of Sum Assured

Ans : B

                   CORE INSURANCE SOLUTION 

28.The sequence functionality of surrender polices process is in McCamish is

A. Activate

B. Paying all the due premiums

C. Indexed for surrender

D. 1,2,3   B. 1,3,2    C. 2,3,1    D. 2,1,3

Ans: D

28. The latest DARPAN PLI APP version is

A. 2.1.1.0

B. 2.2.1.0

C. 2.3.1.0

D. 2.4.1.0

Ans: D 

DIRECT AGENTS / SALES FORCE

29. The Direct agents are under the control of

A. Sub Divisional Heads

B. Divisional Heads

C. Development officer

D. ADM/DDM PLI

Ans: C

30. The sales force I.e. Direct agents, F.O and GDS can procure PLI/RPLI business from outside the Postal Divisional with the permission of concerned

A.PLI Development offcier

B.Sub divisional Head

C.Divisional Head

D.ADM/DDM (PLI) at Regional level.

Ans: D

31. If the PLI sales force procure the business outside parent division, then the policy will be indexed at

A. At the CPC where the sales force belongs

B. At the CPC where the Insurant resides

C. Either A or B

D. None

Ans : B

32. The retired Govt officer /official can apply engagement as Filed officer till he/she attains

A. 62 Years

B. 65 Years

C. 68 Years

D. 70 Years

Ans: B

33.A PLI/RPLI Direct Agent is one___________

A.Who sells through the internet

B.Who works on the Post Office counters

C.Who works in Post office office setup

D.Who sells direct to the client

Ans : D

34.The minimum education qualification required for recruiting direct agents where Population he reside more than 5000

A. 7^th Class

B. 10^th Class

C. 12^th Class

D. Graduation

Ans  B 

MARKETING SKILLS

35. Cross-selling is

A.Selling with a cross face

B.Cross country marketing

C.Selling to friends

D.Selling other products to existing customers

Ans. D

36. Market information requires

A.Knowledge of industries

B.Knowledge of households

C.Knowledge of peers

D.Knowledge of customer’s tastes

Ans.D

37. A ‘Target Group’ is

A group of sellers

A group of buyers

A group of person to whom sales should be focused

D. A group of products

Ans. C

38. Good marketing requires one of the following

A.Proper planning

B.Good team work

C.Good communication skills

D.Knowledge of products

Ans : B