IC14 - LICENTIATE - Regulation of Insurance Business -39

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Q 1. Q1) On which matter can the Life Insurance Council Executive Committee advise the IRDAI?

a) On the matters of staff selected by insurance companies

b) On the matters of losses incurred by Life Insurance Companies

c) On the matters of property acquired by Life Insurance Companies

d) On the matters of expenses incurred by Life Insurance Companies
 
Q 2. Q2) Periodicity for submission of Cash Transaction Reports to FIU-IND

a) Fortnightly

b) Monthly

c) Half-Yearly

d) As and when a transaction occurs
 
Q 3. Q3) Select the expanded form of CFT

a) Counter Financing Task

b) Counter Financing Terrorism

c) Counter Financial Teller

d) Counter Freight Terminal
 
Q 4. Q4) When insurance companies give ULIP advertisements, can they contain past performance? gures with respect to________________.

a) results of investments and also the projected? Figures

b) result of allocation and also the past? Figures

c) results of funds and support? figures

d) results of investments and premiums received
 
Q 5.
Q5) If there is a suppression of material fact, the premium collected on a policy till the date of repudiation of life policy will be liable to be returned to ________.

a) Insurance Broker

b) Policy Holder

 
c) Insurer

d) Agent

 
Q 6. Q6) Who can sell the insurance product other than the Insurer?

a) Any person

b) A person who is licensed by IRDA

c) A person who is authorized by Insurer.

d) A person who is authorized by Govt.
 
Q 7. Q7) The full form of AMFI is ________.

a) Association of Mutual Funds of India

b) Association of Money Lenders and Financiers of India

c) Association of Micro—?nance Institutions

d) Association of Mutual Fund Investors
 
Q 8. Q8) Unit Linked Insurance Plans are __________ Linked Insurance Plans

a) Insurance

b) Debt

c) Market

d) Equity
 
Q 9. Q9) A district forum under the Consumer Protection Act can entertain a complaint where the compensation claimed is less than Rs____

a) 10 lakhs

b) 20 lakhs

c) 30 lakhs

d) 50 lakhs
 
Q 10. Q10) What is the fee charged by the authority to issue a duplicate copy of the license to corporate agents?

a) Rs 10

b) Rs 50

c) Rs 500

d) Rs 1000
 
Q 11. Q11) When is an Insurance Company made to pay third-party charges and then recover them later

a) Under the MV Act

b) Under the Insurance Act

c) Under provisions of 64VB

d) Under IRDA regulations
 
Q 12. Q12) Section 45 of the Insurance Act 1938 applies to

a) Insurer

b) Insured

c) Both of the above

d) Applies to Nomination
 
Q 13. Q13) Who among the following is a High-Risk Customer?

a) Salaried Employees

b) Government-Owned Companies

c) People belonging to the Lower Economic strata of the society

d) None of the above
 
Q 14. Q14) Who shall have no jurisdiction in cases relating to third-party motor vehicle insurance and marine Insurance?

a) Consumer Authority

b) Grievance Redressal Authority

c) Consumer Commission

d) Consumer councils
 
Q 15. Q15) What is the purpose of nominations?

a) To secure an immediate payment of the policy sum assured by the insurer

b) Protection of interest of policyholders

c) Avoidance of risks

d) Damage caution


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