IC24 LEGAL ASPECTS OF LIFE ASSURANCE -31
| Q1.WHAT ACT IS AIMED AT THE PROVIDING STRONGER SURVEILLANCE POWERS, STRENGTHENING CRIMINAL LAWS AGAINST TERRORISM, AND COMBATING MONEY LAUNDERING? |
| a) IRDA Act |
| b) BR Act |
| c) SEBI Act |
| d) PMLA Act |
| Q2.Which chapter related to the establishment and running of consumer protection councils at the Central and State levels and the Objects of the Council are to promote and protect certain rights of consumers? |
| a) Chapter I |
| b) Chapter II |
| c) Chapter III |
| d) Chapter IV |
| Q3.The life Insurance companies are required to design suitable questionnaires to be used by their agents which was commonly called as? |
| a) Searching |
| b) Fact Find |
| c) Investing |
| d) Surrounding |
| Q4.The conflicts of law rules for life insurance policies and the power of national authorities to obtain information were in which directives? |
| a) First directive |
| b) the Second directive |
| c) the Third Directive |
| d) the Fourth Directive |
| Q5.Deduction from income shall be allowed under Section 80C of the Act of an amount upto _____ paid or deposited in the previous year. |
| a) Rs. 1,50,000 |
| b) Rs. 2,00,000 |
| c) Rs. 5,00,000 |
| d) Rs. 10,00,000 |
| Q6.If an insurer may not allow the revival of a policy if the policy has remained in lapsed condition for more than ____. |
| a) 2 years |
| b) 3 years |
| c) 4 years |
| d) 5 years |
| Q 7. The Insurance Companies Act, 1982 classifies insurance business into how many types? |
| a) 1 |
| b) 2 |
| c) 3 |
| d) 4 |
| Q8.Who can be transferee but cannot reassign nor give valid discharge? |
| a) Major |
| b) Minor |
| c) Insurer |
| d) Agent |
| Q 9. The Central Information Commissioner(CIC) may recommend disciplinary action as per service rules against the erring CPIO/SPIO, in case it is found that: |
| a) the application for information is refused without reasonable cause |
| b) information is not provided within the prescribed time |
| c) Information is malafidely refused |
| d) All of these |
| Q10.Which of the following is true with respect to the formation of LIC? |
| a) LIC was formed by the merger of 154 Indian life insures, 16 non-Indian life insurers, and 75 Provident Societies. |
| b) LIC was formed by the merger of 16 Indian life insures, 75 non-Indian life insurers, and 154 Provident Societies. |
| c) LIC was formed by the merger of 16 Indian life insures, 154 non-Indian life insurers, and 75 Provident Societies. |
| d) LIC was formed by the merger of 154 Indian life insures, 75 non-Indian life insurers, and 16 Provident Societies. |