ASSOCIATE - IC26 LIFE INSURANCE FINANCE - 07

Que. 1 : Q1) Tax Deduction Account Number or Tax Collection Account Number (TAN) is a_____ alpha-numeric number issued by the Income-tax Department

   1.  a) 5 digit

   2.  b) 10 digit

   3.  c) 15 digit

   4.  d) 20 digit

Que. 2 : Q2) The Management of an Insurance company, in its report, has to certify that:

   1.  a) A. The Company is a profit making venture

   2.  b) B. The Company has an internal audit system which is commensurate with its size

   3.  c) C. The remuneration of the directors is regularly paid.

   4.  d) D. The Chairman of the company is an expert in the area of 'insurance'

Que. 3 : Q3) Depreciation expense is a ________

   1.  a) Cash expense

   2.  b) Non-cash expense

   3.  c) Long term cash expense

   4.  d) Short term cash expense

Que. 4 : Q4) Error of principle will not permit

   1.  a) Correct total of the balance sheet

   2.  b) Correct total of the trial balance

   3.  c) The trial balance to agree

   4.  d) None of the above

Que. 5 : Q5) The customers can be classified into the following categories as per the sensitivity of the inherent risk as enumerated in the Risk Management under KYC Policies. They are:

   1.  a) High Risk, Moderate Risk and No Risk

   2.  b) High Risk, Medium Risk and Low Risk

   3.  c) High Risk, Moderate Risk and Low Risk

   4.  d) Extremely High Risk, High Risk, Medium Risk and Low Risk