IC24 LEGAL ASPECTS OF LIFE ASSURANCE -30
| Q1.Which act aims at maintaining a harmonious relationship between the employers and employees? |
| a) Shops and Establishment Acts |
| b) Workmen's Compensation Act |
| c) Industrial Disputes Act, 1947 |
| d) Payment of Gratuity Act, 1972 |
| Q2.Which do Acts say that provides for disbursal of wages to workers within the prescribed time limits and ensures that the employees get their full wages without any deductions not authorized by law? |
| a) The Trade Union Act, 1926 |
| b) The Payment of Wages Act, 1930 |
| c) RTI Act |
| d) Workmen Compensation Act |
| Q3.In which cases does, Insurable interest exists only at the time of taking the policy? |
| a) Life Insurance |
| b) Property insurance |
| c) Marine hull insurance |
| d) Marine cargo insurance |
| Q4.Section 6(3) of FEMA, 1999 stipulates the power of ___ to regulate the transfer or issue of any foreign security by a person resident in India. |
| a) Insurance Regulatory and Development Authority(IRDA) |
| b) Reserve Bank of India(RBI) |
| c) Export-Import (EXIM) Bank |
| d) External Affairs Ministry |
| Q5.The objective of the Insurance Ombudsman is |
| a) Collect the premium from the customers |
| b) Solve the complaints relating to the settlements to the claims |
| c) Giving training to the agent |
| d) All of these |
| Q 6.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 |
| Q7.Which chapter concerns with other miscellaneous aspects such as protection of action taken in good faith by the members of various forums, power to remove difficulties, power to make rules in the Constitution of the Act? |
| a) Chapter I |
| b) Chapter II |
| c) Chapter III |
| d) Chapter IV |
| Q8.Where a person against whom a complaint is made or the Complainant fails to comply with the order of District Forum, State, and National Commission, such a person may be with a fine of minimum __ to maximum ___. |
| a) Rs. 3000, Rs. 5000 |
| b) Rs. 2000, Rs. 10000 |
| c) Rs. 5000, Rs. 15000 |
| d) Rs. 3000, Rs. 50000 |
| Q9.In which plans the insurance company pays the life assured the promised sum assured and the accumulated bonuses(if any) at the end of the tenure of the plan? |
| a) Money back plan |
| b) Return of Premium(ROP) plans |
| c) Annuities |
| d) Endowment and whole life plans |
| Q 10. Foreign Currency means any currency other than Indian currency. Say whether True or False. |
| a) True |
| b) False |