IC14 REGULATION OF INSURANCE BUSINESS - 36

Que. 1 : Q1) Repudiation of life policy will result in forfeiting the policy amount by_______________.

   1.  a) Nominee

   2.  b) Actuary

   3.  c) Insurer

   4.  d) Agent

Que. 2 : Q2) As per the consumer protection act 1986, the person who buys goods for a consideration or avails any services for consideration is called

   1.  a) A Client

   2.  b) A dealer

   3.  c) A Consumer

   4.  d) An Intermediary

Que. 3 : Q3) If rebates are allowed on life insurance premium, it has to be according to the____________.

   1.  a) SEBI Rules

   2.  b) Terms and conditions under sec 41

   3.  c) Published prospectus

   4.  d) Tables of the insurer

Que. 4 : Q4) As per the powers given by the IRDAI Act 1999, the Central Government can supersede the _______ by issuing a notification.

   1.  a) LIC

   2.  b) SEBI

   3.  c) IRDAI

   4.  d) RBI

Que. 5 : Q5) What amount has to be deposited if an appeal has to be made in the district forum ?

   1.  a) 50% of the amount awarded or Rs 25000 - which ever is less

   2.  b) 40% of the amount awarded or Rs 25000 - which ever is less

   3.  c) 50% of the amount awarded or Rs 50000 - which ever is less

   4.  d) 40% of the amount awarded or Rs 50000 - which ever is less