IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 12

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Q1.Under the Constitution, laws related to matters enumerated in the concurrent list are made by ___.
 a) Parliament only
 b) State Legislature only
 c) Both Parliament and State Legislatures
 d) Both- State Legislatures and Municipal Corporations

Q2.As per provisions of COPA who of the below can be a consumer?
 a) The policyholder in a contract of life insurance can be a consumer
b) A beneficiary of the policy under the MWP Act can be a consumer
 c) A nominee under Section 39 of the Insurance Act 1938 can be a consumer
 d) Any of the above can be a consumer

Q3.What is a contract made by word of mouth or implied by the conduct of parties? it cannot be enforced unless it is supported by a valuable consideration?
 a) Specialty contract
 b) Simple Contract
 c) Contingent contract
 d) None of these

Q4.Which of the following is correct about Citizenship?
 a) It determines the civil rights of a person, natural or artificial particularly with reference to international law
 b) All nationals may not be citizens of the State
 c) Citizens are those persons who have full political rights
d) It has reference to the jural relationship which may arise for consideration under international law.

Q5.In case an assignee is a minor, ____ needs to be appointed.
 a) Guardian
 b) Appointee
 c) Representative
 d) Minor cannot be appointed assignee

Q6.All instruments chargeable with duty and executed in India shall be stamped before or at the time of execution. Say whether True or False.
 a) True
 b) False

Q7.Section 21 empowers the _____ to give directions to the Corporation in matters of policy involving public interest and the Corporation shall be guided by such directions.
 a) Central Government
 b) State Government
 c) IRDA
 d) RBI

Q8.According to Section 40A, any default in complying with this provision shall be punishable with a fine which may extend upto ____.
 a) Rs. 200
 b) Rs. 300
 c) Rs. 400
 d) Rs. 500

Q9.Which of the following was correct about Section 106 of the Transfer of Property Act, 1982?
 a) defines a lease
 b) specifies the duration of the lease which requires registration
 c) Provides how a lease can be made
 d) enumerated the rights and liabilities of lessor and lessee.

Q10.Name the person to whom the entire estate is bequeathed?
 a) Universal legatee
 b) Residuary legatee

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