IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 19
| Q1.To avail income tax benefits under a gratuity fund, it is required to be approved by____. |
| a) Central Board of Direct Taxes |
| b) Finance Ministry |
| c) High Court of State to which the company belongs |
| d) Commissioner of Income Tax |
| Q2.A valid consideration should be unlawful. Say whether True or False |
| a) True |
| b) False |
| Q3.The Government expenditures are broadly classified into how many types? |
| a) 1 |
| b) 2 |
| c) 3 |
| d) 4 |
| Q4.The District Judge has unlimited original jurisdiction in criminal matters. Serious criminal cases are tried at the Court of the District Judge. The Court is known as |
| a) City Civil Court |
| b) Sessions Court |
| c) Small causes Court |
| d) High court |
| Q5. Section 29 of the Act provides that whenever any person has died leaving behind assets not exceeding ____ in value (at the date of death) within the State, the Administrator-General may grant a certificate. |
| a) Rs. 20,000 |
| b) Rs. 50,000 |
| c) Rs. 75,000 |
| d) Rs. 1,00,000 |
| Q6.Section 11 states who is competent to enter into a contract. Every person is competent to contract |
| a) who is of the age of majority according to the law |
| b) who is of sound mind |
| c) who is not disqualified from contracting by any law |
| d) All of the above |
| Q7.Who from the below cannot enter into a contract? |
| a) Person who is of the age of majority |
| b) Person who is of sound mind |
| c) Person who is not qualified from contracting by law |
| d) None of the above is true |
| Q8.Section 2(j) defines the right to information as the right to information accessible under the Act which is held by or under the control of any public authority and includes the right to |
| a) inspection of work, documents, records |
| b) taking notes, extracts, or certified copies of documents or records |
| c) taking certified samples of material |
| d) All of these |
| Q9.If there is no insurable interest the insurance contract becomes |
| a) Unenforceable in a Court of Law |
| b) Illegal |
| c) Void |
| d) Voidable |
| Q10.The Authority may, by notification, establish with effect from such date as it may specify in such notification, a committee to be known as? |
| a) Student Insurance Advisory Committee |
| b) Advice Committee |
| c) Insurance Advisory Committee |
| d) All of these |