IC14 REGULATION OF INSURANCE BUSINESS -12
| Q1.The Policyholder is also known as the __. |
| beneficiary |
| payee |
| claimer |
| insurer |
| insured |
| Q2.Who aids, assists, and advises the life insurers in general functioning matters? |
| RBI |
| An advisory committee of IRDAI |
| Life insurance committee of IRDAI |
| Chairman of Life insurance council |
| Exec Committee of Life Insurance Council |
| Q3.An appeal before the National Commission can be made subject to a deposit of ___ the amount awarded or ____ whichever is less. |
| 50%, Rs 25000 |
| 50%, Rs 35000 |
| 50%, Rs 50000 |
| 50%, Rs 75000 |
| 50%, Rs 100000 |
| Q4.Any person who buys goods for consideration or avails any services for consideration is defined as a __. |
| Buyer |
| Consumer |
| Seller |
| Agent |
| Proposer |
| Q5.According to the Consumer Protection (Amendment) Act, Service includes: |
| Banking and Insurance |
| Thoughts and ideas |
| Services rendered free of cost |
| All of the above |
| None of the above |
| Q6.Which is the main reason why nominations are created? |
| Damage caution |
| To secure an immediate payment of the policy SA by the insurer |
| Risk avoidance |
| Protection of interest of policyholders |
| All of the above |
| Q7.When is the Statement of Downgraded Investments submitted? |
| within 5 days, after the end of each quarter |
| within 7 days, after the end of each quarter |
| within 10 days, after the end of each quarter |
| within15 days, after the end of each quarter |
| within 30 days, after the end of each quarter |
| Q8.With respect to minimum mortality cover calculations, PT means __. |
| Payment Tenure |
| Policy Term |
| Policy terminology |
| Policy termination |
| Profit terminology |
| Q9.A person can deal with the policy in whatever way he may desire during his lifetime and the consent of the __ is not required. |
| Officers |
| Agent |
| Insurer |
| Policyholder |
| Nominee |
| Q10.The existing system of the Ombudsman under the Redressal of Public Grievances Rules 1998, was perceived by - |
| Insurance Ombudsman |
| Complainant |
| Collector |
| Insured person |
| Policyholder |