IC14 REGULATION OF INSURANCE BUSINESS - 04

Q1.___ of the registration certificate is not covered under IRDAI Act.
 Issuance
 Inheritance
 Modification
 Renewal
 Withdrawal
 
Q2.From a Money Laundering (ML) perspective, ___ is the most vulnerable medium of transaction.
 Pay Orders
 Cheque transactions
 Electronic fund transfers
 Cash transactions
 Demand Drafts
 
Q3.Insurer who bears the rates on the policy sticks to /refers to rates at the time of the __
 Agreement
 Contract
 Investigation
 Assignment
 Maturity
 
Q4.On whom does the responsibility of collecting the premium lie?
 The Agent
 The Insurer
 The Insured
 The Nominee
 The Insured's family
 
Q5.An insurer has the onus of collecting the premium facilitating premium payment.
 Insurance Broker
 Policy Holder
 Insurer
 Agent
 Nominee
 
Q6.In Single Premium (SP) contracts, the minimum sum assured for age at entry of below 45 years is __ .
 55% of single premium
 75% of single premium
 105% of single premium
 110% of single premium
 125% of single premium
 
Q7.The net reduction in yield for policies with terms of more than 10 years should not be ____.
more than 3% on maturity
more than 2.75% on maturity
more than 2.25% on maturity
less than 2.25% on maturity
less than 2.75% on maturity
 
Q8.Which of these statements is CORRECT?
 When age advances the insurability increases
 When age advances the insurability reduces
 As age reduces the insurability increases
 As age reduces the insurability reduces
 None of above
 
Q9.Which of the following statement(s) is/are TRUE as per the Consumer Protection (Amendment) Act?
Its an addition to the consumer protection act
The remedy available under it is simple, speedy, and inexpensive
It covers the public, private and cooperative sectors
 All of the above
 None of the above
 
Q10.How long are the risk covering a period of insurance connected to aircraft hulls, aviation risks, and marine hulls?
 Very short
 Short
 Long
 Very Long
 Medium

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