IC14 - LICENTIATE - Regulation of Insurance Business -15
IC14 - LICENTIATE - Regulation of Insurance Business -15
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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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