BPI MS Insurance Practice Test

These questions are part of the practice quiz. Start practicing

• Which option is a Plus benefit?
• What is a key difference between term life and renewable term life?
• ERA is part of which motor insurance coverage?
• Which statement best describes the Comprehensive Insurance with Acts of Nature (AON) policy?
• Which of the following is included as a Fire/Property Insurance coverage under BPI MS Condominium Care Advantage?
• Which service arranges return airfare for a relative or friend to visit if you are hospitalized during a trip?
• Motorcycling accidents are excluded under which Special Exclusion category?
• What is risk pooling and how does it benefit low-probability high-cost events?
• What is the deductible for illness claims under Hospital Income Protect Plus?
• In Travel Secure Max, Diamond and Platinum limits are what in relation to Schengen?
• Which of the following is not covered under Fire Insurance?
• Which item is included under FIRE/PROPERTY INSURANCE COVERAGES (BPI MS HOME CARE ADVANTAGE)?
• Under PA99, what is the daily cash assistance for the principal insured?
• What is the ERA hotline telephone number?
• Which of the following is NOT a coverage under Hospital Income Protect Plus?
• Which concept prevents speculative policies and ensures indemnity only for genuine risk at inception?
• What is the typical grace period for premium payments across life policies?
• Which of the following is not listed as a BPI MS product?
• Which benefit compensates injuries diagnosed as being caused by burns sustained during the trip?
• Which statement about mortgaged vehicles is true?
• What is the age range for new and existing BPI clients to avail Accident Secure Max?
• True or False: BPI MS HCA is for Residential Occupancies only and mixed-usage properties are not covered.
• In claims adjudication, which step involves calculating the indemnity amount payable?
• Which statement best describes the criteria for an insurable event?
• Which PA options are offered under BPI MS Personal Accident Insurance?
• What is the waiting period for illness claims under Hospital Income Protect Plus?
• Which plan offers the highest educational cash assistance?
• For MultiYear Protect qualifications, what is the minimum loan term and maximum term?
• Under FIRE Insurance, which of the following items is listed as contents?
• Commercial Vehicle policy is used for which purpose?
• Which premium corresponds to the Elite Family plan under Accident Secure Max?
• Which statement is true about Commercial Vehicle policy?
• Why must insurable interest be demonstrated at policy inception?
• Which statement is true about PAP availability on In-Branch Sales Platform?
• What is coinsurance and how does it function in a health policy?
• Which benefit pays for reasonable additional travel ticket costs to reschedule the Insured Person's trip if it is unexpectedly and unavoidably postponed due to death, serious injury or sickness?
• Own Damage and Theft in Comprehensive Motor Insurance covers which of the following?
• Which benefit provides coverage extension if the journey is extended due to public transport delay or bodily injury or sickness up to: a. 7 days delay due to the carrier b. 30 days delay if due to injury or illness?
• Which benefit provides coverage extension for a journey extended due to public transport delay or bodily injury or sickness up to 7 days or 30 days?
• What happens if a premium is not paid by the end of the grace period?
• Which benefit reimburses expenses for every full six (6) hours delay of your flight due to severe weather conditions, strike or other job action by airline employees?
• Why is privacy and data protection increasingly important in insurance?
• What is reinsurance and why do insurers use it?
• Which PAP can be availed via In-Branch Sales Platform?
• PA365 coverages include which of the following?
• What does Burial Expense coverage under PA999 extend to cover?
• Factors that affect the rate (COLB) include:
• Which PAP can be availed via BPI MS Web App (Online)?
• Define grace period in life insurance and its typical duration.
• Solvency in insurance is best described as
• In Prime Accident Secure Max, what is the burial cash assistance amount?
• Daily Cash Assistance for Dependents can be paid for up to how many days?
• Dual Purpose Body (DPB) is designed for which vehicle types?
• What data protection measures are typically expected in insurance practice?
• Which service arranges for your return to your home country in the event of the untimely death of a family member?
• Which of the following is NOT one of the four essential elements of an insurance contract?
• BPI MS Insurance is a joint venture between Bank of the Philippine Islands (Ayala) and which insurer?
• In motor insurance, what best defines a deductible?
• Which statement best describes indemnity in an insurance claim?
• Rental Income or Rental Value is classified under which feature in BPI MS HOME CARE ADVANTAGE?
• Which services are included in Comprehensive Motor Insurance Coverage?
• If you are using In-Branch Sales Platform, which PAPs are eligible?
• Which option correctly states the PAPs available via In-Branch Sales Platform?
• Which benefit reimburses expenses incurred if the aircraft is diverted due to adverse weather conditions?
• Which party benefits most directly from subrogation?
• Under fiduciary duty, who is responsible for providing accurate and complete policy information to the client?
• Which element of an insurance contract refers to truthful disclosures by the applicant?
• Which PAP can be availed via BPI MS Web App (Online)?
• Which benefit assists in arranging the delivery of essential medicines that are not available locally?
• Which PA999 benefit pays a fixed amount per day for hospital confinement due to an accident?
• In coinsurance, what happens if the insured carries less than the required percentage of value?
• Under Extended Coverage, which of the following is included?
• Which statement describes BPI MS HOME CARE ADVANTAGE?
• What distinguishes risk transfer from risk pooling?
• What are the typical steps in claims adjudication, in the correct order?
• Which of the following is offered as a PLUS (optional) coverage in BPI MS BUSINESS CARE ADVANTAGE?
• During the contestability period, what can the insurer do if misrepresentations or concealment are found?
• Which of the following is a Fire/Property Insurance coverage under BPI MS Condominium Care Advantage?
• What is an illustration in life insurance?
• What does BPI MS Motor Insurance cover?
• Under BPI MS Condominium Care Advantage, what does the policy cover in relation to the condo's interior and contents?
• How does premium loading relate to policy pricing?
• What is the difference between indemnity-based and managed care health plans?
• Explain the difference between cash value and net amount at risk in a universal life policy.
• What is the maximum payout for any one accident under PA999?
• For Accident Secure Max, how is coverage for each declared dependent described?
• In property insurance, what best describes perils?
• The Philippine Standard Fire Policy covers basically:
• Travel Secure Max allows coverage for up to how many days per trip?
• Which benefit arranges return airfares for minor children if they are left unattended due to the Insured's illness, accident, or emergency evacuation?
• Which procedures are not covered?
• Which statement about time value and present value related to premiums and benefits is true?
• Which benefit pays for the loss of cash, signed traveler's cheques or money order as a direct result of theft, robbery or burglary during the trip?
• To access policy information for MultiYear Protect, you can log in to which website?
• In health insurance, what is a deductible and how does it affect premium and out-of-pocket costs?
• What is Rating in FIRE Insurance?
• What is the minimum loan amount for MultiYear Protect qualifications?
• A condition is considered 'pre-existing' if it manifested within how many months prior to the start of the insurance?
• What is the burial expense cap for the Spouse coverage under PA99?
• PA999 coverages include which of the following?
• What does Personal Accident Insurance provide?
• Which rider would best provide coverage for a policyholder who becomes unable to pay premiums due to disability?
• Grandfathering in policy changes means that:
• Replacement cost coverage generally pays for what?
• What are the qualifications for MultiYear Protect?
• PA365 includes Burial Assistance as a coverage.
• Which benefit reimburses expenses incurred if the aircraft is diverted due to adverse weather conditions?
• Who can avail Hospital Income Protect Plus?
• Which program is UNIQUE to ASM?
• Which of the following is excluded from Fire Insurance?
• Which elements typically comprise an insurance agent's fiduciary duty to a client?
• Which program is unique to HIPP?
• Which benefit is UNIQUE to HIPP?
• Which description best fits Private Car policy?
• Which platform offers PAPs for 365 PA and 999 FPA online?
• Which of the following is included under Comprehensive Insurance (MEDIUM) Motor Vehicle Policy?
• Accidental Death and Permanent Disablement is covered by which plans?
• Churning in insurance sales is best described as
• Which of the following is NOT a key improvement of Travel Secure Max?
• Travel Secure Max is designed to be accessible online.
• What is an insurable event? Choose the best life insurance example.
• What is coinsurance in property insurance and how does it affect settlements?
• Which statement about premium finance is false?
• Explain the difference between a non-forfeiture option and a surrender charge in a cash-value policy.
• Which of the following is a product category offered by BPI MS Insurance?
• Which statement about Accident Secure Max regarding OFWs is true?
• Dengue Cash Aid under Hospital Income Protect Plus is activated under which condition?
• Which benefit arranges return airfares for minor children left unattended due to the Insured's illness, accident, or emergency evacuation?
• Which statement best describes the value proposition of BPI MS Insurance?
• Preferred Plus Motor Insurance is exclusive for which client segment?
• What is the Accidental Death & Permanent Disablement benefit under Elite Accident Secure Max?
• Which item is included under Extended Coverage besides Falling Aircraft?
• Which protection includes Acts of Nature (AON)?
• Which statement about Private Car policy restrictions is true?
• What is a term rider, and when might it be added to a base policy?
• Food poisoning coverage under Accident Secure Max applies when?
• What is the accidental death and disablement limit for Diamond in Travel Secure Max?
• Which program is UNIQUE to ASM only?
• Which of the following is NOT a component of the Comprehensive Coverage Components for Motor Insurance Policy?
• How does the time value of money affect premium and payout calculations?
• Which benefit reimburses expenses incurred if the aircraft is diverted due to adverse weather conditions?
• Dual Purpose Body (DPB) policy is used for which vehicle types?
• What are the two types of coverage included in the car insurance?
• Differentiating facultative and treaty reinsurance, which statement is correct?
• Policy illustrations must include all of the following EXCEPT
• Which benefit compensates for injuries diagnosed as caused by burns sustained during the trip?
• How many products does BPI MS Insurance offer?
• Under FIRE Insurance, which items are categorized under Building coverage?
• What is subrogation in the claims process?
• What is Preferred Plus Motor Insurance?
• In an insurance contract, what does the premium represent?
• What is the purpose of a free-look period?
• For Married Principal, the spouse may be up to what age under Accident Secure Max?
• What is the fundamental purpose of an insurance contract?
• Under Accident Secure Max, which of the following is included?
• How does a policy loan typically work in whole life or universal life policies?
• Which statement is true about the 18-Hour Rule?
• A key risk of churning for the client is
• What determines the lapse rate in a life insurance policy?
• The concepts of contestability and incontestability serve to
• PA365 (Personal Accident Policy) is available to all new and existing BPI clients between which ages?
• Value-added services in a customer-centered insurance sale refer to
• ICU Cash Benefit is payable under Hospital Income Protect Plus for which scenario?
• Which program is unique to ASM?
• What do limits of liability define in a policy?
• Which of the following is an Additional Coverage under BPI MS HOME CARE ADVANTAGE?
• Depreciation in motor insurance refers to what?
• Which of the following best describes what bodily injury liability coverage protects?
• Which feature is included in BPI Safe Sakay Commuter Insurance?
• VAT applicability to insurance premiums is best described as
• What is the difference between actual cash value and replacement cost in property insurance?
• What is a contestability period and why does it matter in life insurance?
• What is MultiYear Protect?
• Which two coverages are included in BPI MS car insurance?
• What statement best differentiates term life and whole life in terms of premium structure and cash value?
• What is the effect of misstatement of age when discovered within the contestability period?
• Which are examples of perils relevant to property insurance?
• In the sale process, which practice helps ensure accuracy of applications and disclosures?
• After the contestability period, which statement about disputing the policy's validity is correct?
• FMV variance is allowed within which range?
• Which program is UNIQUE to HIPP only?
• Which statement about life insurance illustrations is true?
• Daily Cash Assistance is a benefit under which policy?
• Basic Information Needed for Initial Application for FIRE includes:
• The assignment of beneficiary under PA is based on which law?
• Under Accident Secure Max, the maximum age for Parents of a Single Principal is?
• Educational Assistance under PA999 applies to which relatives of the Insured Person?
• Which of the following is a coverage included in PA365?
• Under PA99, what is the Accidental Death & Permanent Disablement coverage per person for Children (married) or Siblings (single)?
• In financial analysis, what is the function of the loss ratio?
• How many benefits does Travel Secure Max offer?
• What is the Standard VTPL Minimum for Motor Insurance?
• Daily Cash Assistance under PA999 pays a fixed amount for each day the insured is confined in a hospital due to an accident, for up to a maximum of how many days for the Principal Insured?
• Which program is UNIQUE to HIPP only?
• What is BPI MS HOME CARE ADVANTAGE?
• Which of the following is an example of additional coverage under FIRE Insurance?
• Accident Secure Max covers riding, driving, boarding, or alighting except which activities?
• What is premium finance and when would a policy owner consider it?
• In universal life policy design, what component does net amount at risk influence most directly?
• Which benefit reimburses a fixed amount for each day the Insured requires emergency dental care or treatment during the trip?
• Which factor is not typically considered by underwriters?
• What does FIRE Insurance pay for?
• Select the correct Accidental Death & Permanent Disablement benefit amount for Elite Accident Secure Max.
• In the Prime Accident Secure Max plan, what is the medical reimbursement amount?
• The Comprehensive Insurance with Acts of Nature (AON) Motor Vehicle Policy includes which coverages?
• Under Educational Assistance in PA999, the Insured Person's child(ren) or sibling(s) must be what?
• What is mortality rate and how is it used in pricing life insurance?
• Travel Secure Max benefits include coverage for which of the following areas?
• What is underwriting, and which factors might an underwriter consider?
• Which PAP can be availed via BPI MS Express Protect (Online)?
• Voluntary Third Party Liability (VTPL) provides what?
• CTPL (LOW) Motor Vehicle Policy coverage includes which of the following?
• For the Spouse coverage under PA99, what is the Accidental Death & Permanent Disablement amount?
• What happens if misstatement of age is discovered after the contestability period ends?
• Which benefit reimburses expenses incurred if you are denied boarding a confirmed scheduled flight from due to overbooking by the travel agent or airline?
• Which policy type includes a guaranteed cash value?
• Deviation from standard cover is allocated to which fund?
• Client's house in a gated subdivision, single detached, used as residence and mini grocery. Is this acceptable under Home Care Advantage?
• What is the role of an exclusion in an insurance policy?
• Which statement best describes the purpose of the loss ratio in underwriting?
• How many branches does BPI MS Insurance have?
• Under BPI MS BUSINESS CARE ADVANTAGE, which of the following is included as a standard coverage?
• Which statement best describes the primary purpose of a deductible in a health policy?
• Which levels of protection does BPI MS Car Insurance offer?
• What is the purpose of a policy illustration and what must be disclosed?