IC14 REGULATION OF INSURANCE BUSINESS - 03

Que. 1 : Q1) For Non Life Micro Insurance Products, What should be the minimum number of members comprising a group?

   1.  a) 20

   2.  b) 15

   3.  c) 10

   4.  d) 30

Que. 2 : Q2) Free Look Option has to be exercised with in how many days?

   1.  a) 15 days

   2.  b) 30 days

   3.  c) 10 days

   4.  d) 60 days

Que. 3 : Q3) What is a Shell Company?

   1.  a) Oil Refineries at National levels

   2.  b) Oil Companies at International levels

   3.  c) A company having no real business at all

   4.  d) A company without any promoters capital

Que. 4 : Q4) With respect to minimum mortality cover calculations, PT means __________.

   1.  a) Payment Tenure

   2.  b) Policy Term

   3.  c) Policy terminology

   4.  d) Policy termination

Que. 5 : Q5) In case of Whole Life Plans, lower the age of entry, the minimum sum assured will be____________.

   1.  a) Lower

   2.  b) Higher

   3.  c) SA does not depend on age of entry

   4.  d) Either 1 or 2