IC24 - LEGAL ASPECTS OF LIFE ASSURANCE - 09

Que. 1 : Q1) When the collector is himself in doubt about the duty chargeable, he may draw up a case and refer it with the opinion theron for the decision of the __________ who shall consider the case and send a copy of its decision to the collector.

   1.  a) Commissioner

   2.  b) Central Investigation officer

   3.  c) Chief Controlling Revenue Authority

   4.  d) None of these

Que. 2 : Q2) Select the correct scenario in which Insurable Interest is deemed to Exist

   1.  a) A creditor has an insurable interest in the life of the debtor, to the extent of the debt

   2.  b) Partners have insurable interests in the lives of each other

   3.  c) A company has an insurable interest in the life of a key valuable employee.

   4.  d) All of the above

Que. 3 : Q3) The right to be _________, whenever possible access to a variety of goods at competitive prices.

   1.  a) informed

   2.  b) assured

   3.  c) heard

   4.  d) seek redressal

Que. 4 : Q4) Under State Commission, the value of services and compensation claimed shall be more than __________ but shall not exceed ________.

   1.  a) Rs. 25 lakhs and Rs.5crore

   2.  b) Rs. 10 lakhs and Rs.10 crore

   3.  c) Rs. 20 lakhs , Rs.1 crore

   4.  d) None of these

Que. 5 : Q5) Which assignee cannot deal with a policy alone?

   1.  a) Absolute assignee

   2.  b) Conditional assignee

   3.  

   4.