IC14 REGULATION OF INSURANCE BUSINESS - 33

Que. 1 : Q1) Which is the main reason why nominations are created ?

   1.  a) Damage caution

   2.  b) To secure an immediate payment of the policy’s SA by the insurer

   3.  c) Risk avoidance

   4.  d) Protection of interest of policy holders

Que. 2 : Q2) One of the following Accounting Statements does not form part of Specified Financial Statements comprising under regulation called IRDA Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations 2000. Identity that statement.

   1.  a) Balance Sheet.

   2.  b) Receipts and Payments Accounts

   3.  c) Profit and Loss Account.

   4.  d) Fund-Flow Statement.

Que. 3 : Q3) As per which act can the central Government issue grants to IRDAI after due appropriations are made by parliament ?

   1.  a) Contract Act

   2.  b) PFRDA act

   3.  c) IRDAI act

   4.  d) Insurance act

Que. 4 : Q4) When a person makes small deposits in many financial institutions so that they do not attract the attention of enforcement authorities is called______________.

   1.  a) Telegraphic transfer

   2.  b) Underground banking

   3.  c) Smurfing

   4.  d) Phishing

Que. 5 : Q5) Which among the below mentioned entities are responsible for negotiated settlements that enables to save interest and administration charges ?

   1.  a) Lok Adalats

   2.  b) Jald Rahat Yojana

   3.  c) Claims Conciliation Committees

   4.  d) All of the above