Podcast
Questions and Answers
What is one of the primary purposes of insurance in society?
What is one of the primary purposes of insurance in society?
Which of the following is NOT a prerequisite for becoming an insurance agent?
Which of the following is NOT a prerequisite for becoming an insurance agent?
What role does an insurance agent play in the settlement of policy claims?
What role does an insurance agent play in the settlement of policy claims?
Which of the following best describes actuarial aspects in product pricing?
Which of the following best describes actuarial aspects in product pricing?
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In the context of types of insurance, what does 'insurance interest' refer to?
In the context of types of insurance, what does 'insurance interest' refer to?
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Study Notes
Unit 1: Introduction to Insurance
- Insurance is a social security tool and vital for economic development.
- The purpose and need of insurance are discussed.
Unit 2: Insurance Agent - Introduction
- Procedures for becoming an insurance agent are covered.
- Necessary prerequisites for obtaining a license are outlined.
- License duration, cancellation, and revocation/suspension of agent appointments are detailed.
- Code of conduct and unfair practices are also part of the curriculum.
Unit 3: Insurance Agent - Functions
- Insurance agent responsibilities, including proposal form, underwriting, and material information.
- Financial and medical underwriting are part of the agent's role.
- Processes for claims settlement are explained.
Unit 4: Strategies of Insurance Company
- Company profiles, organizational setup, and promotional strategies are presented.
- Market share, significant activities (Structure, Product, Actuarial profession), product pricing (actuarial aspects), and distribution channels are explored.
Unit 5: Types of Insurance
- Fundamental principles of different insurance types (life, marine, fire, medical, general).
- Various insurance contracts and associated interest are examined.
Unit 6: Contemporary Issues
- Current issues in insurance are presented through expert lectures and webinars.
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Description
Test your knowledge on the fundamentals of insurance, including its role in economic development and the process of becoming an insurance agent. This quiz also covers the responsibilities of an insurance agent and the strategies used by insurance companies. Enhance your understanding of the insurance industry through this comprehensive quiz.
