IC14 - LICENTIATE - Regulation of Insurance Business -16
IC14 - LICENTIATE - Regulation of Insurance Business -16
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Q 1. The international organization in charge of monitoring complex money laundering transactions should have a ______.
Straight forward view
Complex view
Micro level view
Macro level view
Localised view
Q 2. When a person makes small deposits in many financial institutions so that they do not attract the attention of enforcement authorities is called ________.
Telegraphic transfer
Underground banking
Smurfing
Phishing
Subrogation
Q 3. _______ under Married Women's Property Act policies are all consumers.
Proposer
Agent
Collector
Policy Holder
Ombudsman
Q 4. What determines the sum assured?
Riders are attached to the policy.
The lock-in period
The top-up capacity
The policy term
The age of the insured
Q 5. On receipt of the survey report, the insurer shall within a period of ____ days offer a settlement of claim to the insured.
5
10
15
30
45
Q 6. What does the IRDAI Act promote?
It promotes the growth of the Insurance and Reinsurance business
It promotes the growth of the Life and Nonlife insurance business
It promotes the growth of General insurance and theft insurance
It promotes the growth of Life insurance and Reassurance
It promotes the growth of Corporate insurance & Reassurance
Q 7. Who will refer the dispute for mediation or conciliation, as an encouragement to ADR (Alternate Dispute Resolution)?
The District Court judge
The Consumer Court judge
Consumer councils
Grievance Redressal Authorities (GRA)
Consumer commission
Q 8. On what basis is the policy issued for workmen's compensation?
Declaration policy
Fidelity Guarantee
Adjustable premium
Sum assured
Agreement
Q 9. The returns of a ULIP are tax-free if the policy duration is for at least ____ years in Germany.
5
8
10
12
15
Q 10. Does a company have to be formed under which act to grant an INSURANCE BROKERS license to them?
IRDAI Act 1999
The Insurance Act of 1938
The Companies Act of 1956
The Indian Contract Act of 1872
General insurance business (nationalization) act 1972
Q 11. Assignment and transfer of policies were amended under Section ______ of the Insurance Act.
37
38
39
40
41
Q 12. In ________ policy, risk can be assumed if at least the premium calculated on 75% of the sum assured has been received before assumption of the risk.
Fidelity Guarantee Insurance
Marine Insurance
Declaration insurance
Policies issued based on an adjustable premium
All of the above
Q 13. The full form of 'FGD' is ________.
Focus Group Discussion
Family Group Discussion
Finance Group Discussion
Fiscal Group Discussion
Future Group Discussion
Q 14. Who has recommended that the Grievance Redressal Authorities should be constituted to deal with disputes between the insurer and the intermediaries?
IRDAI
Law Commission
Ombudsman
Government
Administrator
Q 15. Which of the following is due to a deficiency in service?
Quick settlement of claims
Issuance of policy receipts
Transfer of files
All of the above
None of the above
Q 16. The selection committee will recommend the name of _______ for selecting them in the GRA.
permanent members
judicial members
subordinate members
technical members
Chairman
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