IC24 - LEGAL ASPECTS OF LIFE ASSURANCE - 13

Que. 1 : Q1) When a lapsed policy is brought back to full force; it is known as ________

   1.  a) Revival

   2.  b) Recovery

   3.  c) Restoration

   4.  d) Reinstatement

Que. 2 : Q2) In US, who have authority to act within specified limits and may even offer modified contracts to certain extent?

   1.  a) Soliciting agents

   2.  b) General agents

   3.  c) Brokers

   4.  d) None of these

Que. 3 : Q3) Which of the following statements about Critical Illness products is False?

   1.  a) They provide insurance against dreaded diseases such as cancer,heart attack,Renal failure etc

   2.  b) They cover the actual cost of treatment related to critical illness

   3.  c) They are available as standalone products or as a packaged health insurance product

   4.  d) They Provide for High Sum Insured limits with lump sum pay outs

Que. 4 : Q4) Regulation 2(d) of the Insurance Regulatory and Development Authority Regulation, 2000, defines composite Insurance agent as an insurance agent who holds a license to act as an insurance agent for a

   1.  a) life insurer

   2.  b) General insurer

   3.  c) Both a and b

   4.  d) None of these

Que. 5 : Q5) To whom the matter can be referred when the collector is not sure on the case referred to him?

   1.  a) Union List

   2.  b) State Government

   3.  c) Chief Controlling Revenue Authority

   4.  d) Central Government