IC24 - LEGAL ASPECTS OF LIFE ASSURANCE - 11
Que. 1 : Q1) The capital of LIC was Rs. 5 crores which has been increased to ____________.
1. a) Rs. 10 crores
2. b) Rs. 100 crores
3. c) Rs. 150 crores
4. d) Rs. 200 crores
Que. 2 : Q2) Which of these is not one of the three stages in the money laundering process?
1. a) Placement
2. b) Integration
3. c) Layering
4. d) Conversions
Que. 3 : Q3) Ajay has made an application to Insurance Company ABC for a term insurance policy. To get insurance on better terms he does not declare his correct age. He forges his date of birth proof and shows his age less by 5 years than his actual age.It is an example of
1. a) Fraud
2. b) Undue influence
3. c) Misrepresentation
4. d) Coercion
Que. 4 : Q4) What is the time period prescribed under PMLA for preservation of records under Prevention of Money Laundering and what is the time period during which suspicious transaction report is to be sent within ____ days of detection:
1. a) 2 years, 15 days
2. b) 4 years, 12 days
3. c) 5 years, 10 days
4. d) 10 years, 7 day
Que. 5 : Q5) What is not true about insurable interest?
1. a) Insurable interest is not required to buy life insurance
2. b) Insurable interest is required to buy life insurance
3. c) In case of life insurance insurable interest must exist at the time buying insurance
4. d) In case of property insurance insurable interest must exist at the time of making a claim