IC14 - LICENTIATE - Regulation of Insurance Business -11
IC14 - LICENTIATE - Regulation of Insurance Business -11
Find More Mock Tests Here
Q 1. About money laundering, APG stands for ______.
Anti Peso Group
Asia Profiteering Group
Asia Pacific Group
Advanced Pentagon Group
Anti-Pacifist Group
Q 2. Insurance of ______ is provided by the Inland Steam Vessels Act.
Passenger Ships like cruises
Cargo ships
Inland vessels
All Inland water transport
Submarines
Q 3. The Free Look option has to be exercised in ____ days.
5
10
12
15
25
Q 4. Concerning membership of the life insurance council, which of the following statements is NOT true?
The Chairman has to be nominated by IRDAI
Five people connected with the life insurance business
One nonofficial not connected with the insurance business
Eight members of the Insurance Association of India
A Supreme Court judge has to be a member
Q 5. A Unit Linked Insurance Policyholder can safeguard the ___________.
Value of the fund in good times
Value of the fund in bad times
Value of equity shares in bad times
Value of the premium in bad times
Value of the asset in good times
Q 6. Under which of the below-mentioned insurance contracts, the policy document will contain a schedule showing the details of individuals covered under the group?
Pension schemes
Group policy
Health insurance
Group micro insurance contracts
Marine insurance
Q 7. If the premiums have been paid for 11 and 12 years since inception, the maximum reduction in yield (difference between Gross and Net yield % pa ) is ________ %.
2%
2.25%
2.50%
2.75%
3%
Q 8. In a unit-linked contract, what can be valued as per need?
Premium
Nomination
Term
Assignment
Lock up period
Q 9. In the case of ULIPs, the policy administration charges are usually expressed as a fixed amount or a percentage of _______.
Sum assured
Premium
Growth in NAV per year
Both premium or sum assured
Either premium or sum assured
Q 10. For creating a nominee, which of the following actions is required?
Making ledger entries in the proposal to the policy
Making suitable entries in the proposal to the policy
Making changes in the policy register
All of the above
None of the above
Q 11. In the activity of Money Laundering, criminals try to conceal the true _____ and _____ of the profits from crime.
Quantity and quality
Ownership and objects
Origin and ownership
Obsessions and ownership
Origin and obscenities
Q 12. An appeal will lie from the decision of the _______.
Grievance Redressal Authorities (GRA)
State Government
Consumer commission
Consumer Authority
Consumer group
Q 13. ______ forum consists of the President Judge of the Supreme Court, members not less than four - and one lady member.
National Commission
State Commission
District Forum
All of the above
None of the above
Q 14. There should be an adjudication fee levied in respect of a claim before the _____.
Consumer group
Grievance Redressal Authorities
Consumer Authority
Consumer commission
Consumer councils
Q 15. Which of these is NOT true about IRDAI?
Eliminates competition in the industry
Amends various laws related to insurance
Ensures competence in the industry
Protects the interests of policyholders
Enforces fair practices in the industry
Find More Mock Tests Here