IC14 REGULATION OF INSURANCE BUSINESS -16
| Q1.On receipt of the survey report, the insurer shall within a period of _ days offer a settlement of claim to the insured. |
| 5 |
| 10 |
| 15 |
| 30 |
| 45 |
| Q2.What does the IRDAI Act promote? |
| It promotes the growth of the Insurance and Reinsurance business |
| It promotes the growth of the Life and Non life insurance business |
| It promotes the growth of General insurance and theft insurance |
| It promotes the growth of Life insurance and Reassurance |
| It promotes the growth of Corporate insurance & Reassurance |
| Q3.Who will refer the dispute for mediation or conciliation, as an encouragement to ADR (Alternate Dispute Resolution)? |
| The District Court judge |
| The Consumer Court judge |
| Consumer councils |
| Grievance Redressal Authorities (GRA) |
| Consumer commission |
| Q4.On what basis is the policy issued for workmen's compensation? |
| Declaration policy |
| Fidelity Guarantee |
| Adjustable premium |
| Sum assured |
| Agreement |
| Q5.The returns of a ULIP are tax-free if the policy duration is for at least _ years in Germany. |
| 5 |
| 8 |
| 10 |
| 12 |
| 15 |
| Q6.Does a company have to be formed under which act to a granted an INSURANCE BROKERS license to them? |
| IRDAI Act 1999 |
| The Insurance act 1938 |
| The Companies act 1956 |
| The Indian Contract Act 1872 |
| General insurance business (nationalization) act 1972 |
| Q7.Assignment and transfer of policies were amended under Section ___ of the Insurance Act. |
| 37 |
| 38 |
| 39 |
| 40 |
| 41 |
| Q8.In __ policy, risk can be assumed if at least the premium calculated on 75% of the sum assured has been received before the assumption of the risk. |
| Fidelity Guarantee Insurance |
| Marine Insurance |
| Declaration insurance |
| Policies issued on the basis of adjustable premium |
| All of the above |
| Q9.The full form of 'FGD' is __. |
| Focus Group Discussion |
| Family Group Discussion |
| Finance Group Discussion |
| Fiscal Group Discussion |
| Future Group Discussion |
| Q10.Who has recommended that the Grievance Redressal Authorities should be constituted to deal with disputes between the insurer and the intermediaries? |
| IRDAI |
| Law Commission |
| Ombudsman |
| Government |
| Administrator |