IC14 REGULATION OF INSURANCE BUSINESS - 06
| Q1.To whom will the appeal against the orders of GRA be automatically transferred? |
| The High Court |
| The District Court |
| Consumer council |
| Consumer group |
| Insurance Appellate Tribunal |
| Q2.The full form of LI Council is ____. |
| Lead Insurer Council |
| Legal Insurance Council |
| Loan Insurance Council |
| Loss Insurance Council |
| Life Insurance Council |
| Q3.When the shippers use better methods of packing, the rates charged for marine insurance will be ____. |
| Top-end rates |
| Somewhat higher rates |
| Medium rates |
| Specific rates |
| Lower rates |
| Q4.What will a life insurance policy state? |
| The policy term |
| The policy premium amount payable |
| The age and occupation of the insured |
| The documents required to be submitted in support of a claim |
| All of the above |
| Q5.If the premiums have been paid for 11 and 12 years since inception, the maximum reduction in yield (difference between Gross and Net yield % pa ) is _ %. |
| 4 |
| 3.75 |
| 2.75 |
| 2.25 |
| 1 |
| Q6.What do claims refer to? |
| Claim refers to damages incurred by the policyholder |
| Claim refers to damages incurred by the insurance company |
| Claim refers to an amount paid by the policyholder |
| Claim refers to a fixed amount paid to the nominees |
| Claim refers to damages incurred by the insurer |
| Q7.Who has the choice to opt for mediation/conciliation so as to encourage Alternate Dispute Resolution (ADR)? |
| Investigating officers |
| Brokers |
| Claimant |
| Supervisor |
| Chairman |
| Q8.In which cases will the GRA have no jurisdiction? |
| In cases relating to the original party |
| In cases relating to first-party |
| In cases relating to the second party |
| In cases relating to the third party |
| In cases relating to fourth party |
| Q9.A Micro Insurance agent shall ____. |
| also, distribute other insurance products apart from microinsurance products |
| not be under the preview of IRDA rules and regulations |
| employ specified persons with prior approval of the insurer |
| work for more than one insurer carrying on life insurance business |
| All of the above |
| Q10.____ accounts are used to transfer funds in the second stage of money laundering. |
| Saving Accounts and Current Accounts |
| CC Accounts and OD Accounts |
| Home Accounts and Remote Accounts |
| Investment Accounts and Expense Accounts |
| Capital Accounts and Revenue Accounts |