IC14 REGULATION OF INSURANCE BUSINESS - 12

Que. 1 : Q1) Choose the Correct Option. Statement A: It is not obligatory for Life insurer to invest in rural sector. Statement B: It is obligatory for General Insurer to invest in rural sector.

   1.  a) Statement A

   2.  b) Statement B

   3.  c) Both

   4.  d) None

Que. 2 : Q2) Licence to work as an insurance agent is issued by __________.

   1.  a) General Insurance Corporation (GIC)

   2.  b) Insurance Regulatory & Development Authority (IRDA)

   3.  c) By the respective life insurance company

   4.  d) Finance Ministry

Que. 3 : Q3) What is the lock in period for ULIPs during which period no partial withdrawals or surrenders are allowed ?

   1.  a) 2 years

   2.  b) 5 years

   3.  c) 7 years

   4.  d) 10 years

Que. 4 : Q4) The Number of Technical members of GRA are

   1.  a) 1

   2.  b) 2

   3.  c) 3

   4.  d) 5

Que. 5 : Q5) When a nomination is cancelled, the rights of the nominee shall be only affected by __________.

   1.  a) Interest of policy holders

   2.  b) Interest of nominees

   3.  c) Interest of insurers

   4.  d) Interest of share holders