IC14 REGULATION OF INSURANCE BUSINESS - 10

Que. 1 : Q1) _________ member of GRA should be due President.

   1.  a) Chairman

   2.  b) Investigating officers

   3.  c) Judicial member

   4.  d) Director

Que. 2 : Q2) Which among the following is a Difference between Life Insurance and General Insurance?

   1.  a) For LI the statutory Cession is prescribed while for GI it is not prescribed

   2.  b) Reinsurance business for LI and GI is governed by RBI

   3.  c) LI offers protection for Property whereas GI offers protection for Life

   4.  d) For GI permission of IBNR claims is necessary while for LI the claim is not prescribed

Que. 3 : Q3) A Proposal form may not be necessary for

   1.  a) Life Insurance

   2.  b) Health Insurance

   3.  c) Personal Accident Insurance

   4.  d) Marine Insurance

Que. 4 : Q4) Agents licence is to be renewed __________.

   1.  a) Every year

   2.  b) After 5 years

   3.  c) After 3 years

   4.  d) After 15 years

Que. 5 : Q5) Which of the following complaints come under the purview of Insurance Ombudsman?

   1.  a) Any partial or total repudiation of claims

   2.  b) Any dispute with regard to premium paid or payable in terms of the policy

   3.  c) Both of the above

   4.  d) None of the above