IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 11

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Q1.Group insurance is not suitable for
 a) Employer for its employees
 b) Professional association of doctors, lawyers, engineers.
 c) For family members
 d) Financial institutions like banks, NBFC's for their customers to cover loans given by them to their customers
 
Q2.Which are all the Exceptions to giving available information under RTI?
 a) Information related to sovereignty and integrity
b) Information is forbidden to be published by the Court
 c) Commercial Information
 d) All of the above
 
Q3.Which of the following is correct with respect to HLV?
 a) HLV is the future value of the future earning of an individual
 b) HLV is the present value of the future earning of an individual
 c) HLV is the present value of the present earning of an individual
 d) HLV is the future value of the present earning of an individual
 
Q4.The __ are also called Vedas.
 a) Srutis
 b) Smritis
 c) Dharmas
 d) Dayabhaga
 
Q5.What is the time period prescribed under PMLA for the 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:
 a) 2 years, 15 days
 b) 4 years, 12 days
 c) 5 years, 10 days
 d) 10 years, 7 day
 
Q6.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 ageless by 5 years than his actual age. It is an example of
 a) Fraud
 b) Undue influence
 c) Misrepresentation
 d) Coercion
 
Q7.Which of these is not one of the three stages in the money laundering process?
 a) Placement
 b) Integration
 c) Layering
 d) Conversions
 
Q8.The capital of LIC was Rs. 5 crores which have been increased to ___.
 a) Rs. 10 crores
 b) Rs. 100 crores
 c) Rs. 150 crores
 d) Rs. 200 crores
 
Q9.Which of the following is not correct about the statute law?
 a) Law made by parliament
 b) Laws made by State Legislature
 c) Enactment due to Article 357
 d) Constitution itself
 
Q 10. What are all the elements of a Valid Contract?
 a) Proposal and acceptance and their communication
 b) parties to the contract and their capacity to contract
 c) consideration
 d) All of the above

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