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