IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 15
Q1.When the agency will be terminated |
a) by the principal revoking his authority |
b) by the agent renouncing the business of the agency |
c) by the business of the agency is completed |
d) In all the above situations |
Q2.Reinsurance in life business is broadly classified into how many types? |
a) one |
b) two |
c) three |
d) four |
Q3.Which of the following is true with respect to the doctrine of Insurable Interest? |
a) Wife has an Insurable interest in the Life of her Husband |
b) A person can take a policy on the life of a customer to whom he has lent money. |
c) None of the above. |
d) Both of the above |
Q4.Under National Commission, who can be a President? |
a) District Judge |
b) High Court Judge |
c) Supreme Court Judge |
d) None of these |
Q5.___ is one of the methods of settling civil disputes between two or more parties by reference of the dispute to an acceptable third party. |
a) Law |
b) Arbitration |
c) Equity |
d) Award |
Q6.They are the written record of legal rules, law reports, statutory instruments and legal textbooks written by eminent jurists. It was classified under which source? |
a) Formal source |
b) Historical source |
c) Legal source |
d) Literary source |
Q7.Which are all the documents required for death claim settlement |
a) Proof of death |
b) Proof of age |
c) Policy bond |
d) All of the above |
Q8.The payment of the Gratuity Act came into force in ____. |
a) 1942 |
b) 1952 |
c) 1962 |
d) 1972 |
Q9.Which of the following is correct about the High Courts? |
a) Article 216 of the constitution states that there shall be a High Court for each state. |
b) Every judge of a High Court was appointed by Prime Minister |
c) There are 21 High Courts in India |
d) None of these |
Q10.The amount secured by the mortgage is known as the mortgage money and the instrument by which the transfer is effected is known as the ___. |
a) Mortgage document |
b) Mortgage deed |
c) Mortgage agreement |
d) None of these |