IC02 (LICENTIATE) Practice of Life Insurance - 14
| Q 1.Age, last birthday of a person born on 16th March 1976, as on 13th January 2002, the date of filing in a life assurance proposal form is __. |
| 22 years |
| 23 years |
| 24 years |
| 25 years |
| 26 years |
| Q2.If a person was born 30 years 8 months earlier, then the age nearer to the birthday is _. |
| 30 years 8 months |
| 30 years 9 months |
| 31 years 8 months |
| 30 years |
| 31 years |
| Q3.The maximum limit for the amount under dispute for which the Ombudsman can entertain a complaint is up to Rs.____ |
| 20 lakhs |
| 25 lakhs |
| 50 lakhs |
| 75 lakhs |
| 1 crore |
| Q4.The term 'ab initio' means ____ . |
| Let's begin |
| From the beginning |
| In the end |
| At the end |
| Till the end |
| Q5.The insurance premium is created by ____. |
| Insurance company |
| Underwriter |
| RBI |
| Actuary |
| IRDAI |
| Q6.Some grace period is allowed to pay the insurance premium after the due date but this depends on ____. |
| the type of policy |
| the premium amount |
| the payment mode (interval) |
| the sum assured |
| No such difference, the grace period is the same for all |
| Q 7.Issues concerning delayed payment for any life insurance claim's settlement are covered under which clause of IRDAI (Protection of Policy Holders interests) Regulations, 2002? |
| Clause 8(5) |
| Clause 9(9) |
| Clause 5(1) |
| Clause 11(3) |
| Clause 16(1) |
| Q8.In how many persons' favor can a nomination be done? |
| One person |
| Two-person |
| Three-person |
| Five person |
| Any number of persons |
| Q9.____ is not a way to pay insurance premiums. |
| Direct remittance |
| Cash |
| Cheques |
| Postal Order |
| Bank Demand Draft |
| Q10.Whose task is to create the premiums (Tabular Values)? |
| IRDAI |
| Underwriters |
| Agents |
| Actuaries |
| Fund managers |