IC14 - LICENTIATE - Regulation of Insurance Business -29

Q 1. Q1) To what age can the president and members of IAT hold? Ce?

a) 50 years

b) 55 years

c) 58 years

d) 68 years
 
Q 2.
Q2) Which one of the following is related to Money Laundering?

a) Smurfing

b) Shell Companies

c) Integration

d) All of the above

 
Q 3. Q3) Who is at present the sole authority of the Reinsurance business in India?

a) National Assurance Company Limited

b) The New India Assurance Co. Ltd.

c) General Insurance Corporation of India (GIC)

d) All of the above
 
Q 4. Q4) Appeals before the National Commission can be made within ______________ days.

a) 7

b) 15

c) 30

d) 45
 
Q 5. Q5) Who will make rules to regulate the procedure for the investigation of misbehavior or incapacity of the President and Members of the GRA?

a) National Government

b) Central Government

c) State Government

d) District Government
 
Q 6. Q6) In linked products what are the options of a policyholder during? A? First 5 years?

a) Complete withdrawal from the policy without any risk cover

b) Revive the policy within two years

c) Revive the policy within 5 years

d) Both 1 and 2
 
Q 7. Q7) Which of the following statements about Nomination is False?

a) Nomination will not be canceled by a Will

b) Nomination will be cancelled by Assignment

c) Nomination will be canceled automatically when the policy matures

d) None of the statements are False
 
Q 8. Q8) What is the lock-in period for ULIPs during which period no partial withdrawals or surrenders are allowed?

a) 3 years

b) 5 years

c) 7 years

d) 9 years
 
Q 9. Q9) _____________ forum consists of the President - Judge of the Supreme Court, members not less than four - and one lady member.

a) National Commission

b) State Commission

c) District Forum

d) All of the above
 
Q 10. Q10) In France, the duration of Unit Linked Policy must be at least years to qualify for tax relief.

a) 3

b) 5

c) 8

d) 10
 
Q 11. Q11) Where data for the performance of a fund of ULIP is not available for at least one calendar year then ______

a) Past performance of the fund must not be shown

b) Past performance of the fund must be shown since inception

c) Past performance for one calendar year of the benchmark index must be shown

d) Past performance of similar funds must be shown
 
Q 12. Q12) Risk assessment comprises understanding the risks in _______ and ________.

a) Customer profile and Agent profile

b) Insured profile and Product profile

c) Customer profile and Product profile

d) Insured profile and Agent profile
 
Q 13. Q13) The insurers domiciled or incorporated outside India are called______________.

a) Foreign Insurers

b) Associate Members

c) Members

d) Council
 
Q 14. Q14) _______ is a charge levied by canceling the Units as a Cost of Life Insurance Cover

a) Mortality Charge

b) Policy Administration Charge

c) Fund Management Charge

d) Surrender Charge
 
Q 15. Q15) Who makes rules to regulate the procedure for the investigation of misbehavior or incapacity of the President and Members of GRA?

a) IRDAI

b) National Government

c) Central Government

d) State Government


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