ic38 mock test free – Mock test also available with question answer

ic38 mock test free: Hello friends, welcome to your knowledge world, I am with you Ajeet Thakur, I told in previous article how you can become insurance agent by taking ic 38 exam and earn passive income.

How to crack IC 38 exam In this article you will get 10 questions related to IC 38 exam and you will also get their answers, remember them well.

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For you we have created separate articles of 10 – 10 questions which you can read and you can take free of cost ic38 mock test created by us.

I promise you that if you remember the answers to the questions made by us, then you too can become an LIC insurance agent. I guarantee to pass the ic38 exam if you go through the ic38 mock test by reading all the articles created by us.

Question One

Which is the first life insurance company to be set up in India?

  • Triton Insurance Company Ltd
  • The Oriental Life Insurance co Ltd
  • Bombay mutual Assurance society ltd
  • National insurance company ltd

Answer: The Oriental Life Insurance co Ltd

Question Two

Which of the following ACT was passed to provide for better protection of the interest of consumers and to make a provision for establishment of consumer councils and other authorities?

  • The insurance act 1938
  • The consumer protection act 1986
  • The IRDA act 1999
  • Indian contract act 1872

Answer: The consumer protection act 1986

Also Read: Irda Exam – IC 38 EXAM की सम्पूर्ण जानकारी

Question Three

Which among the following is a method of risk transfer?

  • Band FD
  • Insurance
  • Equity shares
  • Real estate

Answer: Insurance

Question Four

Which among the following scenarios warrants insurance?

  • The sole bread winner of a family might die untimely
  • A person may lose his wallet
  • Stock prices may fall drastically
  • A house may lose value due to natural wear and tear

Answer: The sole bread winner of a family might die untimely

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Question Five

Which of the below insurance scheme is run by an insurer and not sponsored by the Government?

  • Employees State Insurance Corporation
  • Crop Insurance Scheme
  • Jan Arogya
  • All of the above

Answer: Jan Arogya

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Question Six

The measures to reduce chances of occurrence of risk are known as

  • Risk retention
  • Loss prevention
  • Risk transfer
  • Risk avoidance

Answer: Loss prevention

Question Seven

By transferring risk to insurer, it becomes possible

  • To become careless about our assets
  • To make money from insurance in the event of a loss
  • To ignore the potential risks facing our assets
  • To enjoy of mind and plan one’s business more effectively

Answer: To enjoy of mind and plan ones business more effectively

Question Eight

According to the principle of, If the properly is insured from more than one insurer, the insured cannot get compensation more than the actual loss suffered.

  • Insurable interest
  • Contribution
  • Indemnity
  • Subrogation

Answer: Contribution

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Question Nine

Origins of modern insurance business can be traced to

  • Bottomry
  • Lioyds
  • Rhodes
  • Malhotra committee

Answer: Lioyds

Question Ten

Which tax rate is applicable in case of client pays the premium of Rs. 5000 and suffers illness before maturity.

  • Nill
  • 10%
  • 20%
  • 30%

Answer: Nill

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