IC14 - LICENTIATE - Regulation of Insurance Business -13
IC14 - LICENTIATE - Regulation of Insurance Business -13
Q 1. The full form of AMFI is ______.
Association of Mutual Funds of India
Association of Money Lenders and Financiers of India
Association of Micro-finance Institutions
Association of Mutual Fund Investors
Association of Metal and Ferro of India
Q 2. The Free look period is for ________ days from the date of receipt of the policy document under a term insurance policy.
5
7
15
30
45
Q 3. Who will have to make an express declaration that no similar claim has been made before any other forum?
Ombudsman
Insurance Company
Collector
Policyholder
None of the above
Q 4.
Who is entitled to receive the sum assured?
Nominee
Insurer
Claimant
Brokers
Agents
Q 5. Revisiting of all charges and limits will not be affected by which of the following behavior of the policyholder?
Surrender
Caption
Discontinuance
Retirement
All of the above
Q 6. Which are the set of rules and regulations that set the guidelines to effectively address complaints and grievances of policyholders?
Grievance redressal procedure
Complaints redressal procedure
Complaints handling procedure
Risk grievance procedure
Damage grievance procedure
Q 7. __________ would be referred to for various servicing interactions with the insurer and is required at the time of settling claims?
Proposal Form
Policy bond
Cover note
Policy document
Terms & conditions
Q 8. As per the powers given by the IRDAI Act 1999, the Central Government can supersede the _____ by issuing a notification.
LIC
SEBI
IRDAI
RBI
Commerce Ministry
Q 9. The Prevention of Money Laundering Act (PMLA) rules empower financial institutions like RBI, IRDA, etc. to issue ___________ on Anti Money Laundering (AML) and Countering Finance of Terrorism(CFT).
country-specific guidance
source-specific guidance
subject-specific guidance
surcharge specific guidance
sector-specific guidance
Q 10. _______ is not a disclosure norm for ULIP documentation.
Forex remittance on funds
Investment strategy and risk control measures of the fund
Maximum & Minimum percentage of Investment in different types of securities
Definition of all applicable charges
Objectives of the fund
Q 11. Risk assessment comprises understanding the risks in _________ and __________.
Customer profile and Agent profile
Insured profile and Product profile
Customer profile and Product profile
Insured profile and Agent profile
Insurer profile and Customer profile
Q 12. Which act prescribes the criteria to define the rules for having a state-level insurance appellate tribunal (under section 4[3] ).
Contract Act
Administrative Tribunals Act
SEBI Act
IRDAI Act
State Tribunals Act
Q 13. The prime objective of ________ is to give special focus to overseas insurers comply with IRDAI regulations for the protection of policyholders' interests etc.
Consumer Affairs Division
LIC
AMFI
Actuary
IGMS
Q 14. GRA will refer the disputes for mediation by a person or body agreed upon where there is no _______, by a person or body nominated by the GRA from a panel prepared by it.
trust
agreement
contract
mutual bond
legal clause
Q 15. The full of 'CARE' is _________.
Central Aeronautical Research Enterprise
Credit And Revenue Exchange
Commission of Aided Research and Engineering
Credit Analysis and Research Ltd
None of the above
Access More Mock Tests Now