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🏦 JAIIB IE-IFS Insurance Products 17 cards
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IE-IFS Capsule Cards PRO Insurance Products
A property worth Rs 10 Lakh is insured with two companies for Rs 10 Lakh each. Upon total loss, why won't the owner receive Rs 20 Lakhs?
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Principle of Contribution
Insurance Products 53
WA 53
IE-IFS Capsule Cards PRO Insurance Products
If a policyholder stops paying premiums after 10 years on a 20-year endowment policy, what happens to their accumulated benefits?
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Paid-up Value
Insurance Products 52
WA 52
IE-IFS Capsule Cards PRO Insurance Products
You cannot legally insure your neighbor's house against fire. What fundamental principle dictates that you must suffer a financial loss if the insured event occurs?
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Principle of Insurable Interest
Insurance Products 50
WA 50
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A person insures their Rs 5 Lakh car for Rs 10 Lakhs. If destroyed, they only get Rs 5 Lakhs. Which principle prevents them from making a profit?
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Principle of Indemnity
Insurance Products 47
WA 47
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Unlike pure Term Insurance, how does an 'Endowment Policy' differ in terms of its payout trigger to the policyholder?
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Endowment vs Whole Life
Insurance Products 47
WA 47
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IRDAI promotes insurance for low-income sectors through Micro-Insurance. What is the maximum sum assured generally permitted under these specific regulations?
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Micro Insurance Limits
Insurance Products 47
WA 47
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The Motor Vehicles Act, 1988 mandates specific insurance for all vehicles on public roads. What does 'Third-Party Liability' strictly cover?
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Motor Insurance: Third Party
Insurance Products 46
WA 46
IE-IFS Capsule Cards PRO Insurance Products
Insurance contracts are based on 'Uberrimae fidei'. What does the Principle of Utmost Good Faith legally require from both the insurer and the insured?
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Principle of Utmost Good Faith
Insurance Products 44
WA 44
IE-IFS Capsule Cards PRO Insurance Products
Some insurance products combine risk cover with capital market investments. How does a Unit Linked Insurance Policy (ULIP) function?
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ULIP Mechanics
Insurance Products 44
WA 44
IE-IFS Capsule Cards PRO Insurance Products
If an insurer fully compensates you for a car accident caused by a drunk driver, what legal right does the company gain under the 'Principle of Subrogation'?
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Principle of Subrogation
Insurance Products 43
WA 43
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Life insurance policies vary greatly in cost and benefits. What defines a 'Term Insurance' plan, making it the cheapest form of life cover?
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Term Insurance Characteristics
Insurance Products 42
WA 42
IE-IFS Capsule Cards PRO Insurance Products
Health insurance primarily covers medical and hospitalization expenses. Under which section of the Income Tax Act do these premiums qualify for a deduction?
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Health Insurance Tax Benefit (Sec 80D)
Insurance Products 41
WA 41
IE-IFS Capsule Cards PRO Insurance Products
Bancassurance is the selling of insurance products through bank branches. What are the two most commonly adopted Bancassurance models in India?
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Bancassurance Models
Insurance Products 38
WA 38
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For redressing customer grievances out of court, the Insurance Ombudsman scheme was created. What is the maximum compensation limit an Ombudsman can award?
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Insurance Ombudsman Limit
Insurance Products 34
WA 34
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Before approaching the Insurance Ombudsman, what mandatory preliminary step must an aggrieved policyholder take regarding the insurance company?
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Approaching the Ombudsman
Insurance Products 34
WA 34
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A fire damages a wall, and a subsequent heavy rain causes the weakened wall to collapse. Which principle determines if the fire insurance policy will pay?
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Principle of Proximate Cause
Insurance Products 33
WA 33
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Standard fire insurance policies cover lightning, riots, and storms. What major natural disaster is explicitly excluded and requires an add-on cover?
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Fire Insurance Exclusions
Insurance Products 34
WA 34
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Insurance Products — JAIIB IE-IFS Capsules

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Principle of Contribution A property worth Rs 10 Lakh is insured with two companies for Rs 10 Lakh each. Upon total loss, why won'… Paid-up Value If a policyholder stops paying premiums after 10 years on a 20-year endowment policy, what happens to th… Principle of Insurable Interest You cannot legally insure your neighbor's house against fire. What fundamental principle dictates that y… Principle of Indemnity A person insures their Rs 5 Lakh car for Rs 10 Lakhs. If destroyed, they only get Rs 5 Lakhs. Which prin… Endowment vs Whole Life Unlike pure Term Insurance, how does an 'Endowment Policy' differ in terms of its payout trigger to the… Micro Insurance Limits IRDAI promotes insurance for low-income sectors through Micro-Insurance. What is the maximum sum assured… Motor Insurance: Third Party The Motor Vehicles Act, 1988 mandates specific insurance for all vehicles on public roads. What does 'Th… Principle of Utmost Good Faith Insurance contracts are based on 'Uberrimae fidei'. What does the Principle of Utmost Good Faith legally… ULIP Mechanics Some insurance products combine risk cover with capital market investments. How does a Unit Linked Insur… Principle of Subrogation If an insurer fully compensates you for a car accident caused by a drunk driver, what legal right does t… Term Insurance Characteristics Life insurance policies vary greatly in cost and benefits. What defines a 'Term Insurance' plan, making… Health Insurance Tax Benefit (Sec 80D) Health insurance primarily covers medical and hospitalization expenses. Under which section of the Incom… Bancassurance Models Bancassurance is the selling of insurance products through bank branches. What are the two most commonly… Insurance Ombudsman Limit For redressing customer grievances out of court, the Insurance Ombudsman scheme was created. What is the… Approaching the Ombudsman Before approaching the Insurance Ombudsman, what mandatory preliminary step must an aggrieved policyhold… Principle of Proximate Cause A fire damages a wall, and a subsequent heavy rain causes the weakened wall to collapse. Which principle… Fire Insurance Exclusions Standard fire insurance policies cover lightning, riots, and storms. What major natural disaster is expl…
Chapters in this paper
Micro Finance Institutions Non-Banking Financial Companies (NBFCs) Fixed Income Markets – Debt and Bond Markets Interconnectedness of Markets and Market Dynamics Merchant Banking Services Foreign Exchange Markets (IE-IFS) Factoring, Forfaiting and Trade Receivables Discounting System (TReDS) Venture Capital Lease Finance and Hire Purchase Credit Rating and Credit Scoring Pension Products Para Banking and Financial Services Provided by Banks Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) An Overview of Indian Economy Fundamentals of Economics, Microeconomics, and Macroeconomics and Types of Economies Indian Financial System – An Overview
Modules in IE-IFS
MODULE A: Indian Economic Architecture MODULE B: Economic Concepts Related to Banking MODULE C: Indian Financial Architecture MODULE D: Financial Products & Services
JAIIB papers
IE-IFS — Indian Economy & Indian Financial System PPB — Principles & Practices of Banking AFM — Accounting & Financial Management for Bankers RBWM — Retail Banking & Wealth Management
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