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Strictly Confidential

Test Session for

Bank Training
March 2017

© 2016 Deloitte & Touche Business Advisory Pte. Ltd. 1

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Test Session (1/5)

# Q&A
1. The concept of insurance involves a transfer of
a. Liability
b. Needs
c. Ownership.
d. Risk

2. Which of the following does NOT form an integral part of an insurance contract?
a. Declaration Page
b. First premium receipt
c. Exclusions
d. Definitions

3. Insurance business is transacted in Laos primarily as per :

a. Insurance Law of 1990
b. Financial Service Law of 1980
c. Insurance Commission Law 1986
d. Insurance Agent Association Law 1991

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Test Session (2/5)

# Q&A
4. Select all the channels for selling insurance in Laos (multiple answers may be correct)
a. Bancassurance
b. APA website
c. APA Agent
d. Affinity partner

5. Which of the following situation relates to breach of the principle of good faith:
a. When a false declaration is made at the time of application for policy issuance.
b. When customer information captured in the policy form is incorrect or misrepresented.
c. When a claim is lodged for an event that has not happened or for an item that has not
been lost or damaged.
d. All of the above.

6. For a life insurance policy to be valid, when must insurable interest exist?
a. At the inception of the policy only
b. At the time of a claim
c. At the inception of the policy and at the time of a claim
d. At the inception of the policy or at the time of a claim

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Test Session (3/5)

# Q&A
7. What is meant by Exclusions in an insurance contracts?
a. A provision by which a specified amount is subtracted from the total loss payment
that otherwise would be payable
b. A restriction to the scope of cover in terms of perils, losses and excluded property
c. Set of rules of conduct, duties, and obligations which the insured must comply with in
order for coverage to incept
d. A provision that adds/ deletes, or in some other way alters an insurance contract

8. Apart from gender and age, what other key feature of Andrew’s job is likely to have a
major impact on the sum insured of his credit life insurance needs? (multiple answers
may be correct)
a. Family medical history
b. Activity on social networking sites such as Facebook and Instagram
c. Loan profile (Single or Joint Loan)
d. Andrew’s medical history and occupation

9. Angelina recently bought a health insurance policy and an travel policy. What main
section(s) of the insurance market do these products normally fall into?
a. Life insurance in both cases.
b. Life insurance for health and non-life insurance for travel.
c. General insurance in both cases.
d. General insurance for health and life insurance for travel. 4
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Test Session (4/5)

# Q&A
10. An insurance agent is a person who does the following EXCEPT
a. Act on behalf of an insurer in the issuance, renewal or continuance of a policy.
b. Relays the price quoted by underwriters to the customer
c. Collects the premium from the customer and passes it on to the insurer
d. Delegate his duties and confidential information to a third party/ individual not related
to insurer

11. Amy is a pilot and wants to purchase a 10-year endowment insurance policy. When
would the insurance company ask her to undergo medical tests as proof of good health?
a. Never.
b. At the point of purchasing the policy.
c. After the end of the first 12 months.
d. At the point when she changes occupation or retires.

12. At what stage in the sales process, will the insurance staff request for a copy of the
customer’s documents ?
a. At the lead generation stage.
b. At the end of the counselling meeting.
c. As soon as the application is accepted by the insurer.
d. After policy issuance.

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Test Session (5/5)

# Q&A
13. Which of the following statements is correct ?
a. Commission is paid to the bank staff who sell policies for the insurance company
b. Commission amount can vary by product category sold
c. Both the statements are correct
d. Both the statements are wrong

14. A maturity claim under a endowment policy is submitted by an John who has
substantially understated his age. What action will be taken by the insurance company ?
a. Pay full claim maturity amount
b. Pay out death claim.
c. Pay out surrender value.
d. Reject the claim on the grounds of misrepresentation.

15. The main role of an underwriter in an insurance company is normally to

a. Assess the acceptability of particular new application.
b. Certify a loss when claims are submitted.
c. Market insurance products to third party channels such as hospitals, car dealers etc.
d. Negotiate with the industry regulator

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Thank You.