CIC ACADEMIA EXAMINATION
CIC Academia Examination Quiz
Welcome to the CIC Academia Examination Quiz! Test your knowledge on key concepts regarding Academia policies and related topics. This quiz provides an engaging way to assess your understanding while allowing you to learn more about insurance policies.
Key Features:
- 9 informative questions ranging from basic definitions to complex scenarios
- Multiple choice format for user-friendly experience
- Ideal for students, marketers, and anyone interested in Academia policies
1. What is Academia policy?3mks
A. An education policy
B. A school fees solution
C. A life policy
D. All of the above
2. Differentiate between Premium and policy term in Academia stating the minimum and maximum term of each? 4mks
A. Policy term is the duration client pays premium. Premium term is duration policy provides you cover
B. Premium term is same as policy term
C. Premium term is the duration client pays premium. Policy term is duration policy provides you cover
D. Premium term is premium duration while policy term is period of the policy
3. What are the partial maturities for Academia. 10mks
4 10% of Sum Assured plus reversionary bonuses. 3 10% of Sum Assured plus reversionary bonuses. 2 10% of Sum Assured plus reversionary bonuses. 1 10% of Sum Assured plus reversionary bonuses. 0 (Maturity) 65% of Sum Assured plus bonuses. TOTAL 105%
4 15% of Sum Assured plus reversionary bonuses. 3 15% of Sum Assured plus reversionary bonuses. 2 20% of Sum Assured plus reversionary bonuses. 1 20% of Sum Assured plus reversionary bonuses. 0 (Maturity) 35% of Sum Assured plus bonuses.
4 15% of Sum Assured plus reversionary bonuses. 3 15% of Sum Assured plus reversionary bonuses. 2 15% of Sum Assured plus reversionary bonuses. 1 15% of Sum Assured plus reversionary bonuses. 0 (Maturity) 45% of Sum Assured plus bonuses. TOTAL 105%
D 4 10% of Sum Assured plus reversionary bonuses. 3 10% of Sum Assured plus reversionary bonuses. 2 20% of Sum Assured plus reversionary bonuses. 1 30% of Sum Assured plus reversionary bonuses. 0 (Maturity) 35% of Sum Assured plus bonuses. TOTAL 105%
4. Discuss at least 5 riders for academia policy? 10mks
A. Waiver of premium on disability, accidental death, funeral expense, personal accident, waiver of premium on critical illness,critical illiness cover
B. Accidental death, funeral expense, personal accident, waiver of premium on critical illness
C. Accidental death, funeral expense, personal accident, waiver of premium on critical illness, Critical illness
D. None of the above
5. Akoth is 60 years old and requires an Academia policy will you sell to her and why? 4mk
A. Yes
No
May be
I don't know
6. Beatrice is currently married and plans to have children in the next 3 years she would like to save for her future children through Academia policy will sell to her and why? 4mks
A. No I will not
B. I will wait until she gets a child
C. I don’t know
D. Yes I will if she provides a child with insurable interest
7. In Academia Policy what happens when the policy holder dies? 5mks
A. CIC Refunds the money to the client
B. CIC cancels the policy
C. The policy pay 50 % of the SA to the beneficiary and continues till maturity
D. A and b
8. Kamau was involved in an accident and became total and permanently disabled he had an Academia cover how will his Academia cover assist him? 5mks
A. The policy will pay Kamau 50% of Sum Assured
B. Kamau will get a waiver of premium
C. It’s a & b
D. None of the above
9. What are the commissions for Academia Policy? 5mks
A 30 12 2 1.6
B 32 10 4 1.6
C 30 12 4 1.6
D 32 12 4 1.6
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