IC23 APPLICATIONS OF LIFE INSURANCE - 13

Que. 1 : Q1) Which assignment transfers to the assignee all rights, title and interest of the assignor in the policy and this policy vests in the assignee absolutely and forms part of his/her estate on his/her death?

   1.  a) Absolute assignment

   2.  b) Conditional assignment

   3.  

   4.  

Que. 2 : Q2) Which reinsurance is that kind of insurance where the reinsurer takes a definite percentage share of each policy the insurer writes and then shares the premiums and losses in the agreed proportions?

   1.  a) Facultative reinsurance

   2.  b) Non-proportional reinsurance

   3.  c) Treaty reinsurance

   4.  d) Proportional reinsurance

Que. 3 : Q3) Which plans offer life insurance as well as investment benefits and part of the premium paid goes towards the risk cover and the balance is invested in debt or equity, or a combination of two?

   1.  a) Whole life policies

   2.  b) Annuities

   3.  c) Endowment insurance

   4.  d) Unit linked life insurnace

Que. 4 : Q4) Which of the following are qualifying amounts related to life insurance?

   1.  a) Contribution towards an approved superannuation fund

   2.  b) Payments for notified annuity plan for LIC including New Jeevan Dhara

   3.  c) Payment is respect to non-commutable deferred annuity plan taken in the name of self, spouse or child

   4.  d) All of the above

Que. 5 : Q5) Who can guide one through the various components of financial planning such as tax planning, retirement planning etc.,?

   1.  a) Agent

   2.  b) Commissioner

   3.  c) Principal

   4.  d) Financial planner