IC14 - LICENTIATE - Regulation of Insurance Business -12

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Q 1. The acronym MHR means _______.

Machine and Human Resources

Medical and Health Research

Modern Human Rights

Maximum Heart Rate

Medical History Review

 
Q 2. What amount has to be deposited if an appeal has to be made in the district forum?

50% of the amount awarded or Rs 25000 - whichever is less

40% of the amount awarded or Rs 25000 - whichever is less

50% of the amount awarded or Rs 50000 - whichever is less

40% of the amount awarded or Rs50000 - whichever is less

30% of the amount awarded or Rs 25000 - whichever is less

 
Q 3. Concerning money laundering, FIU stands for -

Fraud Investigating Unit

Financial intelligence unit

Fiscal incorporation unit

Funding integrity unit

Financial indemnity unit
 
Q 4. What is the maximum amount of coverage in the case of Micro Insurance?

Rs. 20000

Rs. 25000

Rs. 50000

Rs. 75000

Rs. 100000

 
Q 5. The number of non-official members allowed in the executive committee for the General Insurance Council is/are ______.

NIL

1

2

3

4
 
Q 6. To whom can the Grievance Redressal Authority (GRA) refer the pending cases of disputes?

APR

AWW

AZR

ADS

APT
 
Q 7. The Policyholder is also known as the ________.

beneficiary

payee

claimer

insurer

insured
 
Q 8. Who aids, assists, and advises the life insurers in general functioning matters?

RBI

Advisory committee of IRDAI

Life insurance committee of IRDAI

Chairman of Life Insurance Council

Exec Committee of Life Insurance Council
 
Q 9. An appeal before the National Commission can be made subject to the deposit of ______ the amount awarded or _______ whichever is less.

50%, Rs 25000

50%, Rs 35000

50%, Rs 50000

50%, Rs 75000

50%, Rs 100000
 
Q 10. Any person who buys goods for consideration or avails any services for consideration is defined as a ________.

Buyer

Consumer

Seller

Agent

Proposer
 
Q 11. According to the Consumer Protection (Amendment) Act, Service includes:

Banking and Insurance

Thoughts and ideas

Services rendered free of cost

All of the above

None of the above
 
Q 12. What is the main reason why nominations are created?

Damage caution

To secure an immediate payment of the policy SA by the insurer

Risk avoidance

Protection of interest of policyholders

All of the above
 
Q 13. When is the Statement of Downgraded Investments submitted?

within 5 days, after the end of each quarter

within 7 days, after the end of each quarter

within 10 days, after the end of each quarter

within15 days, after the end of each quarter

within 30 days, after the end of each quarter
 
Q 14. Concerning minimum mortality cover calculations, PT means _____.

Payment Tenure

Policy Term

Policy terminology

Policy termination

Profit terminology
 
Q 15. A person can deal with the policy in whatever way he may desire during his lifetime and the consent of the _____ is not required.

Officers

Agent

Insurer

Policyholder

Nominee


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