IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 17

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Q1.Where a claim arises by death within ____ after the issue of the policy or from its revival, insurers classify it as an early death claim.
 a) 1 year
 b) 2 years
 c) 3 years
 d) 4 years
 
Q2.Coercion is the committing or threatening to commit, any act forbidden by the Indian Penal Code. Say whether True or False
 a) True
 b) False
 
Q3.As per the provisions of Section 42 of the Insurance Act, which of the below is true with respect to the fees payable for insurance of life insurance license to a person?
 a) Fee shall not be more than two hundred and fifty rupees
 b) Fee shall not be more than five hundred rupees
 c) Fee shall not be more than seven hundred and fifty rupees
 d) Fee shall not be more than one thousand rupees
 
Q4.Which contract is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen?
 a) Discharge of contracts
 b) Void agreements
 c) Valid contract
 d) Contingent Contract
 
Q5.Non- contributing schemes are generally renewable every year. Say whether True or False.
 a) True
 b) False
 
Q6.A surety has an insurable interest in the life of
a) the principal debtor to the extent of the debt
b) in the life of his co-surety to the extent of the debt
 c) Only A is True
 d) Both are True
 
Q7.Any requests for information sought under the RTI have to be disposed of by the CPIO \ SPIO within ____
 a) 30 days
 b) 15 days
 c) 7 days
d) 3 days
 
Q8.Which of the below is not an appropriate example of group insurance?
 a) Employer buying insurance for its employees
 b) Lawyer's association buying insurance for its members
 c) A shopping mall buying insurance for its customers
 d) A bank buying insurance for its account holders
 
Q9.To avail benefit from accident benefit clause, the accident should be caused by _____
 a) Inward violent and invisible means
 b) Inward violent and visible means
 c) Outward violent and invisible means
 d) Outward violent and visible means
 
Q10.Which of the following is not correct about the Nomination of the person?
 a) When effecting the policy
 b) After the death of the policyholder
 c) At any time before the policy matures for payment
 d) All of the above

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