IC24 - LEGAL ASPECTS OF LIFE ASSURANCE - 14
Que. 1 : Q1) Raghav is a widower and has one son and one daughter. Both the Son and Daughter are married. Under the MWP act, Raghav has submitted an addendum to include Son and his Daughter as beneficiaries. He has provided 1/3rd of his property to his son and 2/3rd to his daughter. Unfortunately both Raghav and his Daughter dies in an accident. In this case
1. a) Entire claim amount shall go to Raghav's Son
2. b) Children cannot be named as beneficiaries in policies under MWP Act
3. c) Entire claim amount will go to Daughter of Raghav since MWP is for Married Women Property
4. d) Raghav's Son will receive 1/3rd of the property and Legal Heirs of Raghavs Daughter will receive 2/3rd of the property
Que. 2 : Q2) Which of the following is not correct about Individual insurance?
1. a) A contract between an individual person and an insurance company
2. b) There is no scope for any assignment or nomination
3. c) Level of premium is charged
4. d) A policy evidencing the contract is issued to the assured by the insurer
Que. 3 : Q3) Which of the following is true with respect to appeal against a District Forum order?
1. a) The appeal shall be subject to deposit of 50% of the amount awarded or Rs. 25,000, whichever is less
2. b) The appeal shall be subject to deposit of 50% of the amount awarded or Rs. 35,000, whichever is less
3. c) The appeal shall be subject to deposit of 50% of the amount awarded or Rs. 50,000, whichever is less
4. d) The appeal shall be subject to deposit of 50% of the amount awarded or Rs. 45,000, whichever is less
Que. 4 : Q4) A company, registered under the Companies Act 1956, having minimum _________ paid up equity share capital and whose main object is to carry on business in India as TPA in the health services, can be issued license for funtioning as a TPA.
1. a) Ten lakhs
2. b) 50 lakhs
3. c) 75 lakhs
4. d) one crore
Que. 5 : Q5) Contracts are classified into how many types?
1. a) 1
2. b) 2
3. c) 3
4. d) 4