Question 1
Under the Human Life Value (HLV) approach to life insurance need analysis, what does the calculation primarily estimate?
Correct Answer:
The present value of a person's future income available for dependants
Question 2
A pure term life insurance plan is characterised by which of the following?
Correct Answer:
High life cover at low premium with no maturity benefit if the insured survives
Question 3
In a Unit Linked Insurance Plan (ULIP), the investment risk on the chosen funds is borne by whom?
Correct Answer:
The policyholder
Question 4
A client aged 35 earns Rs. 12 lakh a year, plans to work 25 more years, and you assume a 7% discount rate. Which statement best describes how the Human Life Value would compare with simply multiplying income by years?
Correct Answer:
Discounting future income makes the HLV lower than the simple multiple
Question 5
Which type of health insurance plan pays a fixed lump sum on the diagnosis of a covered illness, irrespective of actual hospital expenses?
Correct Answer:
Critical illness (benefit) policy
Question 1
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Prepare with the NISM Series X-B Practice Questions - NISM-Series-X-B Investment Adviser (Level 2) Certification Examination Exam practice quiz. This question bank includes 100 questions covering client, insurance, risk, adviser, and fund. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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NISM Series X-B Practice Questions - NISM-Series-X-B Investment Adviser (Level 2) Certification Examination Exam

This practice set contains 100 questions from the matching question bank and focuses on client, insurance, risk, adviser, and fund. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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