IC14 - LICENTIATE - Regulation of Insurance Business -15

IC14 - LICENTIATE - Regulation of Insurance Business -15

 11

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Q 1. Which agent will not distribute any product other than a micro insurance product?

LIC Agent

General Insurance Agent

Co-insurer agent

Micro insurer agent

Private Insurance company agent
 
Q 2. The full form of NCLT is ________.

National Council for Legal Tests

Non-circulating legal tender

National center for learning and teaching

National center for learning and teaching

National Company Law Tribunal
 
Q 3. What does partial withdrawal from ULIP provide?

It provides profit booking when required

It provides assets when required

It provides returns when required

It provides liquidity when required

It provides a bonus when required
 
Q 4. What caption is prominently carried on every product under microfinance?

Micro life product

Microinsurance product

Micro safe product

General insurance product

Life insurance product
 
Q 5. If rebates are allowed on life insurance premiums, it has to be according to the ______.

SEBI Rules

Terms and conditions under sec 41

Published prospectus

Tables of the insurer

Legal documents
 
Q 6.
To whom will the amount secured by the policy be payable?


Survivors


Policyholder


Assignor


Assignee


Nominee

 
Q 7. Appeals before the National Commission can be made within ______ days.

7

15

30

45

60
 
Q 8. Insurance in India is regulated by Acts passed in which of these years?

1939 and 1999

1938 and 1999

1938 and 1998

1937 and 1998

1936 and 1997
 
Q 9. What is a Microinsurance agent generally paid?

Fixed Salary

Remuneration

Commission

Bonus

Premium
 
Q 10. _________ has the power to issue regulations specifying the manner of receipt of premiums by the insurer.

LIC

IRDA

Consumer Forums

National Commission

Central Government
 
Q 11. To whom shall the amount be payable which is secured by a policy?

Survivors

Assignee

Assignor

Shareholders

Policyholder
 
Q 12. An appeal in the National Commission can be made subject to a deposit of ______ of the amount awarded or _____ whichever is less.

10% , Rs 35,000

20% , Rs 35,000

30% , Rs 35,000

40% , Rs 35,000

50% , Rs 35,000
 
Q 13. Who holds a license to act as an insurance agent either for one life insurer or general insurer?

Composite Insurance Agent

Insurance Agent

Insurance Broker

Corporate Insurance Agent

Re-insurance Agent
 
Q 14. The policy administrative charges for a ULIP cannot be _________.

more than 1% per annum

more than 2% per annum

more than 3% per annum

more than 4% per annum

more than 5% per annum
 
Q 15. When the Insurance Act is silent about any particular feature of the transfer of a policy, then _____ act will be applicable.

Contract Act

LIC Act

IRDAI Act

Transfer of Property Act

None of above


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