IC14 REGULATION OF INSURANCE BUSINESS - 05
Q1.Why have the transaction records to be retained for 10 years? |
To answer any queries from policyholders |
To achieve 100% compliance |
To create data warehousing reports |
To enable best practices study |
To establish the fairness of the insurer |
Q2.As for ____, the assignment/transfer is not operative. |
Agents |
Brokers |
Insurers |
Non-life Insurers |
Transferor |
Q3.Past performance of ULIPs in advertisement can only contain __. |
Results of investments and projected figures |
Results of allocation and past figures |
Results of funds and supporting figures |
Results of units and interest rates |
Results of investments and premium |
Q4.On which matter can the Executive Committee of Life Insurance Council advise the IRDAI? |
On the matters of staff selected by insurance companies |
On the matters of losses incurred by Life Insurance Companies |
On the matters of property acquired by Life Insurance Companies |
On the matters of taxes paid by Life Insurance Companies |
On the matters of expenses incurred by Life Insurance Companies |
Q5.Pand GS means ___. |
Punjab amp; amp; Gurudaspura Services |
Post and amp; Govt. schemes |
Promised & Guarantee schemes |
Promised and Guarantee schemes |
Private & Govt. Suppliers |
Q6.As per Section 45 of the Insurance Act, no policy of life insurance effected before the commencement of this Act shall after the expiry of ____ years from the date of commencement of this Act. |
1 |
2 |
3 |
4 |
5 |
Q7.CBEC' means __ . |
The central bureau of excise and customs |
Company board of excise and customs |
Central board of excise companies |
The central bureau of excise commission |
Central board of excise and customs |
Q8.SHG' stand s for ____. |
Sovereign Health Grade |
Society of home guards |
Self Help Groups |
Security Home Group |
None of the above |
Q9.What is the minimum term of cover in Life Micro Insurance for a term insurance plan without return of premiums? |
1 year |
3 years |
5 years |
7.5 years |
10 years |
Q10.When did IRDAI notify the Micro Insurance regulations? |
10th Nov 2001 |
10th Nov 2002 |
10th Nov 2003 |
10th Nov 2004 |
10th Nov 2005 |