ASSOCIATE - IC26 LIFE INSURANCE FINANCE - 09

Que. 1 : Q1) A Machinery worth Rs 3 Lakhs with expected life of 10 years is Purchased. The depreciation on it is charged Rs 30,000 every year. We are talking about?

   1.  a) WDV method

   2.  b) SLM method

   3.  c) Accelerated Depreciation

   4.  d) Declining Balance Method

Que. 2 : Q2) The difference in the bank reconciliation statement may be due to which of the following reasons?

   1.  a) Cheque deposited and cleared by the bank is recorded on the debit side in the cash book.

   2.  b) Bank charges debited is recorded on the credit side in the cash book.

   3.  c) Amount paid by bank for insurance premium is recorded on the credit side in the cash book

   4.  d) Cheque dishonoured by the bank is recorded on the debit side of the cash book

Que. 3 : Q3) A company purchased plant for Rs.50,000. The useful life of the plant is 10 years and the residual value is Rs.5,000. The management wants to depreciate it by straight line method. Rate of depreciation will be_________

   1.  a) 8%

   2.  b) 9%

   3.  c) 10%

   4.  d) 11%

Que. 4 : Q4) FIU-IND is an independent body reporting directly to

   1.  a) Prime Minister Office

   2.  b) Economic Intelligence Council

   3.  c) FATF

   4.  d) Asia/Pacific Group on Money Laundering

Que. 5 : Q5) Match the following: A. ULIP :(1) Unit Linked Health Insurance Policy b. ULHIP :(2) Unit Linked Pension Policy C. ULPP :(3) Unit Linked Insurance Policy

   1.  a) A:3; B:1; C:2

   2.  b) A:1; B:2; C:3

   3.  c) A:2; B:3; C:1

   4.  d) None of the above