Cholamandalam MS General Insurance Sales Officer Interview Questions and Answers for Freshers

Q1. What is sales how it would be created?
Ans. 
Sales is the process of persuading a potential customer to buy a product or service.
• Identify potential customers

• Understand their needs and preferences

• Present the product or service in a compelling way

• Handle objections and concerns

• Close the sale

• Follow up with customers to ensure satisfaction and encourage repeat business
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Q1. Post resume shortlist, I had to complete technical assignment to prove my skills. You must have expert knowledge in your domain. And the company expects hard work & dedication from you.
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Q1. Had discussions with HR for Salary, Notice period & other benefits. And then I received offer letter.
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Good and easy test Questions

Q1. Can you tell me about yourself?
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Q2. What can you tell us about your work experience at SBI Securities?
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Q1. Tell us About family background
Ans. 
I come from a close-knit family with a strong work ethic and values.
• My parents have always emphasized the importance of hard work and integrity.

• Growing up, I learned the value of teamwork and collaboration through family activities and projects.

• My siblings and I have always supported and motivated each other to achieve our goals.

• My family has a history of entrepreneurship, which has influenced my career path in sales.

• W...read more
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Q2. Diffrence between Par insurance and nor Par insurance products
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Par insurance products offer guaranteed cash value and dividends, while non-Par insurance products do not.
• Par insurance policies are more expensive than non-Par policies.

• Par policies offer more flexibility in terms of premium payments and policy loans.

• Non-Par policies are simpler and easier to understand.

• Examples of Par policies include whole life and universal life insurance, while term life insurance is a non-Par pol
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Q3. Tell about Tax slabs
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Tax slabs are the different levels of income at which different tax rates apply.
• Tax slabs vary from country to country and even within a country based on income levels.

• In India, there are four tax slabs based on income levels: 0-2.5 lakhs, 2.5-5 lakhs, 5-10 lakhs, and above 10 lakhs.

• Each tax slab has a different tax rate, with the highest tax rate being applied to the highest income bracket.

• Tax slabs are used to ensure...read more
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Q1. Diffrence between ulip and mutual funds
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Q2. How to motivate other persons to sell a insurance policy.
Ans. 
Motivate by setting clear goals, providing incentives, offering training, and creating a positive work environment.
• Set clear and achievable goals for the sales team

• Provide incentives such as bonuses or rewards for meeting or exceeding goals

• Offer training and support to improve sales skills and product knowledge

• Create a positive work environment by recognizing and rewarding success, fostering teamwork, and providing opp...read more
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Q3. Tax slabs and why anyone should buy a insurance policy rather then Invest in FD
Ans. 
Insurance policies offer tax benefits and protection against unforeseen events, unlike FDs.
• Insurance policies offer tax benefits under various tax slabs, while FDs do not.

• Insurance policies provide protection against unforeseen events such as accidents, illnesses, and death, while FDs do not.

• Insurance policies offer flexibility in terms of premium payments and policy terms, while FDs have fixed terms and interest rates...read more
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Q1. What is your M0 Activation What is your M12 retention Definitions of Accrued, reversionary Bonus Define bonus Underwriting
Ans. 
M0 Activation refers to the initial engagement of customers, M12 retention is the percentage of customers retained after 12 months, accrued bonus is earned over time, reversionary bonus is paid upon certain conditions, bonus is an extra reward, underwriting is assessing risk.
• M0 Activation is the percentage of customers who engage with a product or service initially

• M12 retention is the percentage of customers who contin...read more
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Q2. How do you increase advisors walk-in
Ans. 
To increase advisors walk-in, focus on improving visibility, offering incentives, providing excellent customer service, and utilizing marketing strategies.
• Improve visibility by increasing signage and advertising in the local area.

• Offer incentives such as discounts or promotions for walk-in customers.

• Provide excellent customer service to encourage repeat visits and positive word-of-mouth referrals.

• Utilize marketing stra...read more
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Q1. Background of Experience
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Q1. All about insurance basic.How you will deal with your profile ? How will you conduct your business ?
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