Page 45 - Insurance Times November 2019

STUDENTS' CORNER

LIC PROMOTIONAL EXAM SAMPLE QUESTIONS -

SERIES 2

1. Full form of HLV is c. While calculating HLV, only future earning capacity is
a. Human Love Value b. Human Life Value considered.
c. Human Long Value d. Human Light Value d. All of the above

2. HLV is calculated to 6. The insurance is effected to cover the ___________ an
a. Ascertain the value of human life in monetary terms asset is exposed to
b. Ascertain the amount of life insurance which can be given a. Peril b. Risk
to a prospect c. Loss d. Event
c. Ascertain the monetary loss to the family in case of
death of the prospect 7. Which of the following is not a category of risk, con-
d. All of the above sidered for life insurance
a. Dying too early b. Living too long
3. Which of the following statement about the HLV is in- c. Accident d. Living with disability
correct?
a. HLV is the definite amount of income which an individual
8. "Living too Long" means
will earn during his lifetime. a. Life post retirement
b. HLV considers the future income, which a prospect may b. Living beyond the age of 60 years
earn over his lifetime. c. Living beyond the age of 80 years
c. HLV was developed by Prof. Hubner. d. Living beyond the age of 90 years
d. All of the above.
9. "Liability insurance" covers
4. To ascertain HLV, Net earnings is calculated by
a. Insurance against frauds by the debtors
a. Adding all the income of the future years.
b. Insurance against loss of name and goodwill
b. All future income less the amount required to be spent
c. Insurance against "Bankruptcy".
on self.
d. All of the above
c. Discounting the future income less the expenses, using
an appropriate interest rate.
10. General Insurance covers
d. All of the above
a. Risks that can affect a person
5. Which of the following statement about HLV is/are cor- b. Personal risks
rect c. Risks that effect property
a. HLV concepts considers human life as property or an d. All of the above
asset
b. HLV is the only way to determine the amount of insur- 11. Life insurance is not
ance which can be given to a human being a. A contract of assurance

The Insurance Times, November 2019 45