ASSOCIATE - IC26 LIFE INSURANCE FINANCE - 08

Que. 1 : Q1) The stage of money laundering at which money is dispersed and disguised is called:

   1.  a) Placement

   2.  b) Layering

   3.  c) Integration

   4.  d) Smurfing

Que. 2 : Q2) Which of the following error will not affect the Trial Balance?

   1.  a) An amount of Rs 900 has been posted in a wrong account

   2.  b) An amount of Rs 900 has been posted on the wrong side of the account

   3.  c) Total of debit side of the account not done correctly

   4.  d) Posting of wrong amount in the account

Que. 3 : Q3) Under which section of the Income Tax Act can an individual get a deduction from taxable income for the premium paid towards a health insurance policy?

   1.  a) Section 80C.

   2.  b) Section 80D.

   3.  c) Section 80E

   4.  d) Section 80F.

Que. 4 : Q4) Tax on non-monetary perquisites are payable by:

   1.  a) The Employer

   2.  b) The Employee

   3.  c) Neither by the Employer nor by the Employee

   4.  d) Either by the Employee or by the Employer

Que. 5 : Q5) Transferring entries from journal to the ledger is called ________

   1.  a) Posting

   2.  b) Journalising

   3.  c) Legering

   4.  d) Transfering