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14 June 2012

MODEL QUESTIONS FOR IPO EXAM



RURAL POSTAL LIFE INSURANCE
(QNo 26 to 40)

26.       Rural postal life insurance started in

            a)         24 Mar 1995                                                  b)         23 Feb 1995
            c)         24 Mar 1994                                                  d)         25 Mar 2006              Ans:a

27.       The max limit of RPLI is

            a)         500000/-                                                        b)         300000/-
            c)         1000000/-                                                      d)         100000/-                    Ans:a

28.       PLI services tax and edn cess has been withdran form

            a)         1 Nov 07                                                        b)         01 Mar 2005
            c)         1 May 95                                                        d)         None of these           Ans:a

29.       Rebate is allowed on advance deposit of premium on RPLI for Qtly/Half year/year is

            a)         1%, 2%,3%                                                    b)         0.50%,1%,2%
            b)         0%, 1%,2%                                                    d)         No rebate in RPLI    Ans:b


30.       An extra departmental agents group insurance scheme started in

            a)         01 Apr 1994                                                  b)         01 Apr 1996
            c)         01 Apr 1992                                                  d)         None of these           Ans:c
(Sum assured to Rs 50000/- and the subscription to Rs 50/-)

31.       Mark the correct option

            a)         SDI/ASPDs shall be entitled to an incentive equal to 10% of the commission                    paid to  the agents
            b)         A policy holder of WLA PLI/RPLI shall be eligible for tacking Children policy to                 his/her child
            c)         Mail overseer should have min 10th standard qualification for doing this job.
            d)         All the above                                                                                                 Ans:d

32.       Payment of incentive to Dos(PLI)

a)                 Up to Rs 4 crores of sum assured  Nil
b)                 Above Rs 4 crores and up to Rs 6 crores of sum assured Rs 25/- per 10000/-
c)                  Above Rs 6 crores of sum assured Rs 20/- per 10000/-
d)                 All the above                                                                                                 Ans:d

33.       The decision of competent authority that DO(PLI) procuring effective business to the tune of ____ or more shall no be eligible for automatic extension of tenure for the next ___ year.  Such extension will be granted by ______subject to good work,conduct & satisfactory record in the year.

a)                 10 crores, 1 year, Head of the circle,
b)                 20 crores, 2 year, DG Post
c)                  25 crores, 1 year, Head of the circle
d)                 25 cores. 1 years, SSP/SP                                                                         Ans: c


34.       Mark the correct option

a)                 In RPLI policies with non standard proof or age  is Rs 1 lac
b)                 The 5% extra premium  on  non standard proof of age policies
c)                  In non standard proof or age policies  the age of the insurant  should not be exceed 45 years
d)                 All the above                                                                                                 Ans:d

35.       Mark correct option relating to the mail overseers to procure RPLI business

            a)         The mail overseer will first complete their assigned work correctly before                            attending to the RPLI business
            b)         No TA/DA will be admissible or canvassing RPLI business except on RPLI                                   mela organized by the circles
            c)         They should have min 10th standard qualification for doing this job
            d)         All the above                                                                                                 Ans:d

36.       The min RPLI policy limit is

            a)         20000/-                                               b)         25000/-
            c)         10000/-                                               c)         15000/-                                   Ans:c

37.       The system of payment of honorarium to staff (including supervisors) of divisional office for procuring of PLI/RPLI proposal is Rs

            a)         5000/-                                                 b)         4000/-
            c)         1000/-                                                 d)         No honorarium                     Ans:b

38.       The max PLI policy limit for a physically handicapped persons is

            a)         300000/-                                            b)         500000/-
            c)         100000/-                                            d)         None of these                       Ans:c

39.       Mark the incorrect option

            a)         Not more than one policy will be allowed for one child.  The policy can be                                     taken by insured for his/her own child only
            b)         Not more than two children in a family shall be covered under this policy.                                      The same child should not be covered under more than one policy
            c)         The insured of main policy shall not be aged 45 years and above at the time                     of taking of children policy
            d)         The age of the child note more than 18 year at the time of issue of children                       policy                                                                                                              Ans:d

40.       Mark the incorrect option relating to Children Policy

            a)         The minimum limit for insurance under this scheme shall be Rs2000/-
b)         Agency commission not available in this scheme
c)         No loan shall be applicable to children policies.
d)         The outstanding term of main policy shall not be less than the premium paying                period of children policy.
e)         In the event of the death of the insured before the expiry of the children policy
            no further premium shall be payable for the balance period of the policy.  
                                                                                                                                    Ans:c  
(Prepared & published by AB Kantharaja, Mobile 08969822340, http://abkantharaja.blogspot.in)

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More questions for Paper I
1.    Post office Guide Part I and Part II(271Qns)   Click here
2.    Postal Manual Vol V(203 Qns)  Click here
3.    Postal Manual Vol VI Part I, II, III(224 Qns)  Click here
4.    POSB Manual Vol  I(128 Qns)  Click here
3.    POSB Manual Vol II(46 Qns)  Click here

(Prepared & published by AB Kantharaja, Mobile 08969822340, http://abkantharaja.blogspot.in)
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AB KANTHARAJA
Hassan, Karnataka, I am BA graduate. Presently working in Department of Post (DOP) as Inspector Post at Somwarpet Sub Dn, Karnataka email-abkantharaja@gmail.com
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