Becoming an insurance agent in India starts with one exam: IC-38. Certena gives you 300+ IC-38 practice questions — every one with its answer checked against the syllabus material, not just scraped — plus free chapter-wise notes, timed mocks, and a study plan paced to your exam date.
These are 5 of the 316 IC-38 questions in Certena, taken from across the paper. Every answer key has been checked against a source — a printed answer key, a textbook extract, or arithmetic — not guessed. Reveal the answer and the explanation below each question. No sign-up needed.
Answer: B. Sharing the losses of the few among the many who are exposed to the same risk
Insurance pools premiums from many people exposed to a similar risk and pays the losses of the unfortunate few from that common fund. It neither prevents events (A, D) nor produces a profit for the insured (C); it transfers and shares the financial consequence.
Answer: D. Offering or accepting any inducement (rebate) to take out or renew a policy of insurance
Section 41 of the Insurance Act, 1938 specifically prohibits rebating — the offering or acceptance of any inducement (cash, gift, return of commission, or any other benefit) as an enticement to take out or renew a policy. The prohibition applies to both the giver and the receiver of the rebate.
Answer: D. Is a written amendment that forms part of the policy and has the same legal status as the original terms
An endorsement is a formal amendment to the policy. Once attached and referenced, it is as legally binding as the original policy wording. Where the endorsement conflicts with the printed policy, the endorsement typically prevails as the more recent, specific expression of the parties' agreement.
Answer: C. The post-mortem report and / or FIR (if the accident involved a medico-legal event)
For an accidental death claim, the cause of death must be established as accident-related (not natural causes). A post-mortem / inquest report and the FIR (for road accidents, crimes, etc.) are the primary documents confirming the nature and circumstances of death. Income returns (B) and old medical reports (D) do not establish the cause of death.
Answer: A. ₹2,00,00,000 — the sum insured; the insured is under-insured and the average clause applies
The sum insured is ₹2,00,00,000 but VAR at date of loss is ₹2,40,00,000 — under-insurance of 20%. For a total loss, the maximum payable is the sum insured (₹2,00,00,000). The average clause for a total loss effectively means the insurer pays only up to the SI ceiling (the partial-loss formula also gives: loss × SI ÷ VAR = ₹2,40,00,000 × 2/2.4 = ₹2,00,00,000). The insured funds the remaining ₹40,00,000.
311 more verified IC-38 questions, timed 100-question mock papers, and your weak areas are in the app — create a free account.