IC14 - LICENTIATE - Regulation of Insurance Business -25
IC14 - LICENTIATE - Regulation of Insurance Business -25
Q 1. Q1) The part of the money laundering process where a criminal gets access to the money is
a) Accessing
b) Legitimising
c) Layering
d) Integration
Q 2. Q2) The appellate authority constituted by a notification of the Central Govt. was wound up due to the constitution of ___________
a) IRDAI
b) SEBI
c) Insurance Appellate Tribunal
d) Grievance Redressal Authorities (GRA)
Q 3. Q3) An appeal in front of the State Commission against the decision of the district forum must be within _________ days
a) 15
b) 30
c) 45
d) 60
Q 4. Q4) Who among the following is not a Low-Risk Customer?
a) Salaried Employees
b) Firms with Sleeping Partners
c) Government Owned Companies
d) People belonging to the Lower Economic strata of the society
Q 5. Q5) Payment of Annual Fees relates to
a) Insurance Broker
b) Corporate Insurance Agent
c) Individual Insurance Agent
d) None of the above has to pay Annual fees
Q 6. Q6) What is the temporary Insurance certificate issued to the customer before issuing the Insurance Policy known as
a) Cover Note
b) Policy Document
c) Acknowledgement letter
d) None of the above
Q 7. Q7) Choose the Correct Option. Statement A: Nomination is a must in all Life insurance products. Statement B: Nomination is not compulsory in all Life insurance products.
a) Statement A
b) Statement B
c) Both
d) None
Q 8. Q8) The Authority may issue a duplicate license in case it is ____________.
a) Lost
b) Revoked
c) Suspended
d) Withdrawn
Q 9. Q9) When there is a misstatement or suppression of a material fact, the premiums collected on the policy till the date of repudiation of the life policy will be liable to be returned to the __________.
a) Insurance Agent
b) Nominee
c) Legal representatives
d) Policyholder
Q 10. Q10) IBNR stands for
a) Income Before Not Reported
b) Incurred But Not Reported
c) Incurred But Not Reviewed
d) Investment Before Net Result
Q 11. Q11) What should be the font size of the Key Feature Document?
a) 16 of Arial
b) 12 of Times New Roman
c) 14 of Times New Roman
d) 10 of Arial
Q 12. Q12) An appeal against the order of the National Commission can be made in the Supreme Court within a period of _____.
a) 7 days
b) 10 days
c) 30 days
d) 45 days
Q 13. Q13) The full form of IBAI is _________.
a) India Bangladesh Accreditation Institute
b) Investment Bankers Association of India
c) Insurance Bankers Association of India
d) Insurance Brokers Association of India
Q 14. Q14) Who will refer the dispute for mediation or conciliation, as an encouragement to ADR (Alternate Dispute Resolution)?
a) The District Court judge
b) The Consumer Court judge
c) Consumer councils
d) Grievance Redressal Authorities (GRA)
Q 15. Q15) In Hit and Run cases claims are settled from _______
a) Solatium Fund
b) IRDA
c) Insuring Company
d) Motor Third Party Pool
Find More Mock Tests Here