Earning Money

To earn money is not so easy for everyone it depends on factors
Time
Age
Smartness
Luck
Legacy 

If you want to earn money make proper investments at proper time and at proper place.

Money word says itself:

M - Move

O - Overcome

N - Noble

E -  Energy

Y - Your true value

Earning money should have mind to solve problem which can be generated by creativity to produce a product which is problem solving product.

One will give you money only when he wants his work to be done for that money. One should be experienced in the work which he or she is doing to earn money with doing his marketing.

Money can be earned on :

Seconds basis,

Minutes basis,

Hourly basis,

Daily basis,

Weekly basis,

Monthly basis,

Quarterly basis,

Yearly basis

 It is done by

Manufactured basis,

Selling basis ,

Service basis,

Job basis,

Physical basis,

Mental basis,

Consulting basis,

Mode basis,

Salary basis,

Share market basis,

Interest basis,

Commission  basis

Make study and expert in the field by Blue Ocean Strategy so that you can make money easily on the market. think abut the future what are important and give priority to them accordingly.

Adopt technology and should be easily move with generation otherwise you will stay behind.

Make a statistical study in each of the cases.

Education

Education

Education decides the country growth by the ratio of people educated in a country. Education is the birth right of every child in this world. It gives knowledge with professional courses. Education is not only taught in school but wherever we get to know new concepts, techniques and strategies with various tools. Education should not be put in the category of business. We should spread our education to others. As we educate others we get perfection in it. We get to learn new things again in it. For a healthy and safe lifestyle education plays a important role in it.
It is the innovation of a thing.
Creativity is achieved by education.
Prepare yourself to guide.
Education words itself describes it:

E - Excellence
D - Development
U - Universal
C - Concepts
T - Techniques
I - Information
O - Ocean
N - Notes

If there is educated children then they can solve their own problems by themselves.

DOCUMENTATION - POLICY CONDITION

DOCUMENTATION - POLICY CONDITION

Question 1

Which of the below statement is false with regards to nomination?

I. Policy nomination is not cancelled if the policy is assigned to the insurer in

return for a loan

II. Nomination can be done at the time of policy purchase or subsequently

III. Nomination can be changed by making an endorsement in the policy

IV. A nominee has full rights on the whole of the claim

Question 2

In order for the policy to acquire a guaranteed surrender value, for how long

must the premiums be paid as per law?

I. Premiums must be paid for at least 2 consecutive years

II. Premiums must be paid for at least 3 consecutive years

III. Premiums must be paid for at least 4 consecutive years

IV. Premiums must be paid for at least 5 consecutive years

Question 3

When is a policy deemed to be lapsed?

I. If the premiums are not paid on due date

II. If the premiums are not paid before the due date

III. If the premium has not been paid even during days of grace

IV. If the policy is surrendered

Question 4

Which of the below statement is correct with regards to grace period of an

insurance policy?

I. The standard length of the grace period is one month.

II. The standard length of the grace period is 30 days.

III. The standard length of the grace period is one month or 30 days.

IV. The standard length of the grace period is one month or 31 days.

Question 5

What will happen if the policyholder does not pay the premium by the due date

and dies during the grace period?

I. The insurer will consider the policy void due to non-payment of premium by

the due date and hence reject the claim

II. The insurer will pay the claim and waive off the last unpaid premium

III. The insurer will pay the claim after deducting the unpaid premium

IV. The insurer will pay the claim after deducting the unpaid premium along

with interest which will be taken as 2% above the bank savings interest rate

Question 6

During the revival of a lapsed policy, which of the below aspect is considered

most significant by the insurance company? Choose the most appropriate option.

I. Evidence of insurability at revival

II. Revival of the policy leading to increase in risk for the insurance company

III. Payment of unpaid premiums with interest

IV. Insured submitting the revival application within a specified time frame

Question 7

For an insurance policy nomination is allowed under _________ of the Insurance

Act, 1938.

I. Section 10

II. Section 38

III. Section 39

IV. Section 45

Question 8

Which of the below statement is incorrect with regards to a policy against which

a loan has been taken from the insurance company?

I. The policy will have to be assigned in favour of the insurance company

II. The nomination of such policy will get cancelled due to assignment of the

policy in favour of the insurance company

III. The nominee’s right will affected to the extent of the insurer’s interest in

the policy

IV. The policy loan is usually limited to a percentage of the policy’s surrender

value

Question 9

Which of the below statement is incorrect with regards to assignment of an

insurance policy?

I. In case of Absolute Assignment, in the event of death of the assignee, the

title of the policy would pass to the estate of the deceased assignee.

II. The assignment of a life insurance policy implies the act of transferring the

rights right, title and interest in the policy (as property) from one person to

another.

III. It is necessary that the policyholder must give notice of assignment to the

insurer.

IV. In case of Absolute Assignment, the policy vests absolutely with the assignee

till maturity, except in case of death of the insured during the policy

tenure, wherein the policy reverts back to the beneficiaries of the insured.

Question 10

Which of the below alteration will be permitted by an insurance company?

I. Splitting up of the policy into two or more policies

II. Extension of the premium paying term

III. Change of the policy from with profit policy to without profit policy

IV. Increase in the sum assured

Question 11

Under what circumstances would the policyholder need to appoint an

appointee?

I. Insured is minor

II. Nominee is a minor

III. Policyholder is not of sound mind

IV. Policyholder is not married

Solved DOCUMENTATION – POLICY STAGE

DOCUMENTATION – POLICY STAGE

Question 1

Which of the following documents is an evidence of the contract between

insurer and insured?

I. Proposal form

II. Policy document

III. Prospectus

IV. Claim form

Question 2

If complex language is used to word a certain policy document and it has given

rise to an ambiguity, how will it generally be construed?

I. In favour of insured

II. In favour of insurer

III. The policy will be declared as void and the insurer will be asked to return

the premium with interest to the insured

IV. The policy will be declared as void and the insurer will be asked to return

the premium to the insured without any interest

Question 3

Select the option that best describes a policy document.

I. It is evidence of the insurance contract

II. It is evidence of the interest expressed by the insured in buying an insurance

policy from the company

III. It is evidence of the policy (procedures) followed by an insurance company

when dealing with channel partners like banks, brokers and other entities

IV. It is an acknowledgement slip issued by the insurance company on payment

of the first premium

Question 4

Which of the below statement is correct?

I. The proposal form acceptance is the evidence that the policy contract has

begun

II. The acceptance of premium is evidence that the policy has begun

III. The First Premium Receipt is the evidence that the policy contract has

begun

IV. The premium quote is evidence that the policy contract has begun

Question 5

For the subsequent premiums received by the insurance company after the first

premium, the company will issue __________.

I. Revival premium receipt

II. Restoration premium receipt

III. Reinstatement premium receipt

IV. Renewal premium receipt

Question 6

What will happen if the insured person loses the original life insurance policy

document?

I. The insurance company will issue a duplicate policy without making any

changes to the contract

II. The insurance contract will come to an end

III. The insurance company will issue a duplicate policy with renewed terms and

conditions based on the current health declarations of the life insured

IV. The insurance company will issue a duplicate policy without making any

changes to the contract, but only after a Court order.

Question 7

Which of the below statement is correct?

I. The policy document has to be signed by a competent authority but need

not be compulsorily stamped according to the Indian Stamp Act.

II. The policy document has to be signed by a competent authority and should

be stamped according to the Indian Stamp Act.

III. The policy document need not be signed by a competent authority but

should be stamped according to the Indian Stamp Act.

IV. The policy document neither needs to be signed by a competent authority

nor it needs to be compulsorily stamped according to the Indian Stamp Act.

Question 8

Which of the below forms the first part of a standard insurance policy

document?

I. Policy schedule

II. Standard provisions

III. Specific policy provisions

IV. Claim procedure

Question 9

In a standard insurance policy document, the standard provisions section will

have information on which of the below?

I. Date of commencement, date of maturity and due date of last premium

II. Name of nominee

III. The rights and privileges and other conditions, which are applicable under

the contract

IV. The signature of the authorized signatory and policy stamp

Question 10

“A clause precluding death due to pregnancy for a lady who is expecting at the

time of writing the contract” will be included in which section of a standard

policy document?

I. Policy schedule

II. General provisions

III. Standard provisions

IV. Specific policy provisions

Question 11

What does a first premium receipt (FPR) signify? Choose the most appropriate

option.

I. Free look period has ended

II. It is evidence that the policy contract has begun

III. Policy cannot be cancelled now

IV. Policy has acquired a certain cash value

Solve Answer of DOCUMENTATION – PROPOSAL STAGE

CHAPTER

 DOCUMENTATION – PROPOSAL STAGE

Question 1
Which of the below is an example of standard age proof?
I. Ration card
II. Horoscope
III. Passport
IV. Village Panchayat certificate
Answer: III. Passport

Question 2
Which of the below can be attributed to moral hazard?
I. Increased risky behavior following the purchase of insurance
II. Increased risky behavior prior to the purchase of insurance
III. Decreased risky behavior following the purchase of insurance
IV. Engaging in criminal acts post being insured
Answer: I. Increased risky behavior following the purchase of insurance

Question 3
Which of the below features will be checked in a medical examiner’s report?
I. Emotional behavior of the proposer
II. Height, weight and blood pressure
III. Social status
IV. Truthfulness
Answer: II. Height, weight and blood pressure

Question 4
A __________ is a formal legal document used by insurance companies that
provides details about the product.
I. Proposal form
II. Proposal quote
III. Information docket
IV. Prospectus
Answer: IV. Prospectus

Question 5
The application document used for making the proposal is commonly known as
the __________.
I. Application form
II. Proposal form
III. Registration form
IV. Subscription form
Answer: II. Proposal form

Question 6
From the below given age proof documents, identify the one which is classified
as non-standard by insurance companies.
I. School certificate
II. Identity card in case of defence personnel
III. Ration card
IV. Certificate of baptism
Answer: III. Ration card

Question 7
Money laundering is the process of bringing _______ money into an economy by
hiding its _______ origin so that it appears to be legally acquired.
I. Illegal, illegal
II. Legal, legal
III. Illegal, legal
IV. Legal, illegal
Answer: I. Illegal, illegal

Question 8
In case the policyholder is not satisfied with the policy, he / she can return the
policy within the free-look period i.e. within ________of receiving the policy
document.
I. 60 days
II. 45 days
III. 30 days
IV. 15 days
Answer: IV. 15 days

Question 9
Which of the below statement is correct with regards to a policy returned by a
Policyholder during the free look period?
I. The insurance company will refund 100% of the premium
II. The insurance company will refund 50% of the premium
III. The insurance company will refund the premium after adjusting for
Proportionate risk premium for the period on cover, medical examination
Expenses and stamp duty charges
IV. The insurance company will forfeit the entire premium
Answer: III. The insurance company will refund the premium after adjusting for
Proportionate risk premium for the period on cover, medical examination
Expenses and stamp duty charges

Question 10
Which of the below is not a valid address proof?
I. PAN Card
II. Voter ID Card
III. Bank passbook
IV. Driving license
Answer: II. Voter ID Card

Question 11
During the _________ period, if the policyholder has bought a policy and does
not want it, he / she can return it and get a refund.
I. Free evaluation
II. Free look
III. Cancellation
IV. Free trial

Answer: II. Free look

What is customer service

What is customer service?
Customers provide the bread and butter of a business and no enterprise can afford to treat them indifferently.
What the customer really derives is a service experience.
If this is less than satisfactory , it causes dissatisfaction. If the service exceeds expectations, the customer would be delighted.
The goal of every enterprise should thus be to delight its customers.


Quality of service
It is necessary for companies and their personnel, which includes their agents , to render high quality service and delight the customer.


High quality service and attributes

A well-known model on service quality  [named "SERVQUAL'] would give us some insights.
It highlights five major indicators of service quality:

a) Reliability : the ability to perform the promised service dependably and accurately .
 Most customers regard reliability as being the most important of the five dimensions of service quality.
It is the foundation on which trust is built.
b) Responsiveness: refers to the willingness and ability of service personnel to help customers and provide prompt response to the customers needs.
It may be measured by indicators like speed , accuracy and attitude while giving the service.
c) Assurance : refers to the knowledge , competence and courtesy of service providers and their ability to convey trust and confidence.
It is given by the customers evaluation of how well the service employee has understood needs and is capable of meeting them.
d) Empathy : is described as the human touch. It is reflected in the caring attitude and individualized attention provided to customers.
e) Tangibles : represent the physical environmental factors that the customers can see, hear and touch .
For instance the location , the layout and cleanliness and the sense of order and professionalism that one gets when visiting an insurance company's office can make a great impression on the customer .
The physical ambiance becomes especially important because it creates first and lasting impression , before and after the actual service is experienced.


Definition
Service means service of any description which is made available to potential users and includes the provision of facilities in connection with banking ,financing, insurance , transport , processing , supply of electrical or other energy,
board or lodging or both housing construction , entertainment , amusement or the purveying of news or other information .
But it does not include the rendering of any service free of charge or under a contract of personal service.

WHAT IS A SINKING FUND

WHAT IS A SINKING FUND?
A sinking fund is a part of a bond indenture or preferred stock charter that requires the issuer to regularly set money aside in a separate custodial account for the exclusive purpose of redeeming the bonds or shares.

let's assume company ABC issues $10 million of bonds that mature in 10 years.
If the bonds have a sinking fund, company ABC might be required to retire, say, $1 million of the bonds each year for 10 years.
To do so, company ABC must deposit $1 million each year into a sinking fund, which is separate from its operating funds and is used exclusively to retire this debt.
 This strategy ensures that company ABC will pay off the $10 million in 10 years

Establishing a Sinking Fund
When creating a sinking fund, the issuer sets up a custodial account and makes systematic payments into it. Payments might not begin until several years have passed. Amounts are typically fixed, although variable amounts may be allowed based on earnings levels or other criteria set by the fund's provisions. Unless preferred stock is used with sinking funds, failure to make scheduled principal and interest payments results in defaulting on the loan.

Advantages and Disadvantages of a Sinking Fund
A sinking fund improves a corporation's creditworthiness, letting the business pay investors a lower interest rate. Because of the interest savings, the corporation has more net income and cash flow for funding operations. Also, businesses may deduct interest payments given to lenders from their taxes, helping increase cash flow as well. Corporations may use the savings for covering sinking fund payments or other obligations. In addition, investors appreciate the added protection a sinking fund provides, making investors more likely to lend a company money. A business that is controlling its money is less likely to default on outstanding debt.

However, if interest rates decrease and bond prices increase, bonds may be called and investors may lose some of their interest payments, resulting in less long-term income. Also, investors may have to put their funds elsewhere at a lower interest rate, also missing out on potential long-term income.