IC14 REGULATION OF INSURANCE BUSINESS - 27

Que. 1 : Q1) Select the expanded form of ULIP used in insurance

   1.  a) Unit Linked Investment Policy

   2.  b) Universal Life Insurance Policy

   3.  c) Unit Linked Insurance Policy

   4.  d) Underwriting Linked Insurance Policy

Que. 2 : Q2) ULIPs are regulated by_______________.

   1.  a) SEBI

   2.  b) LIC

   3.  c) UTI

   4.  d) IRDA

Que. 3 : Q3) Objective of doing KYC procedure is

   1.  a) To monitor transactions of suspicious nature

   2.  b) To ensure appropriate customer identification

   3.  c) Ensure appropriate customer identification , Monitor transactions of suspicious nature

   4.  d) To Ensure loans are not issued to Defaulters

Que. 4 : Q4) Which one of the following option is a correct prerequisite conditions for filing a complaint before the Ombudsman ?

   1.  a) subject matter should not be before court or consumer forum

   2.  b) complaints should be lodged within 3 years of the event

   3.  c) total relief must be within 50 lakhs

   4.  d) complaints must be on corporate lines

Que. 5 : Q5) The principle of subrogation does not apply to _______________ policies.

   1.  a) Life insurance

   2.  b) Fire insurance

   3.  c) Marine insurance

   4.  d) Property insurance