IC26 LIFE INSURANCE FINANCE - 04
| Q1.From the given below options identify which mutual fund schemes invest their money in a mix of equities and debt instruments - |
| Equity Linked Saving Schemes (ELSS) |
| Gilt Schemes |
| Open-ended schemes |
| Tax saving schemes |
| Balanced schemes |
| Q2.A person wishes to settle a transaction with cash rather than by bank cheque. In terms of money laundering, this can be classified as the stage of - |
| Placement |
| Layering |
| Siphoning |
| Integration |
| Black transaction |
| Q3.In order to prepare the bank reconciliation statement, we can take the help of -- 1. Bank column of cash book and cash column of bank book 2. Bank column of cash book and bank statement 3. Cash column of cash book and bank statement |
| Only statement 1 |
| Only statement 2 |
| Only statement 3 |
| Both statements 1 and 3 |
| Both statements 1 and 2 |
| Q4.Based on AS 3 cash flow statement, which of the given activities can be categorized under an operating activity? 1. Claim receipts from reinsurers 2. Loan to companies and its repayments 3. Repayment of policy loan from policyholders |
| Only statement 2 is correct |
| Only statements 2 and 3 are correct |
| Only statements 1 and 3 are correct |
| Only statements 1 and 2 are correct |
| All statements are correct |
| Q5.Depreciation amount in case of revaluation of assets' - This disclosure is found in ___. |
| Balance Sheet |
| Master report |
| ARA |
| P & L A/c and notes to accounts |
| Form 26AS |
| Q6.The Average first premium per thousand sums assured can be computed as ___. |
| (Total FP / Total SA ) * 1000 |
| (Total FYP / Total SA ) * 1000 |
| (Total FP / Total SA ) * 10 |
| (Total SA / Total FP ) * 1000 |
| (Total FYP / Total SA ) * 100 |
| Q 7.Which guidelines prevent the anti-social elements from sending funds through illegal channels for use against the public interest? |
| Anti-black money guidelines |
| Anti-money laundering guidelines |
| Underwriting guidelines |
| Insurance guidelines |
| Investment guidelines |
| Q8.From the enlisted options identify a valid statement in relation to KYC norms - |
| No KYC norms are required for the beneficiary of a policy |
| Contracts should be anonymous |
| The beneficiary of a policy can be anonymous |
| The KYC norms are compulsory for new customers only |
| Correct and effective measures have be taken in order to obtain mandatory details for accurate identification of new customers |
| Q9.Given the case that a firm XYZ Ltd. has a very high Current Ratio. What does the situation indicate? |
| XYZ Ltd. has a high operating efficiency |
| XYZ Ltd. has a low operating efficiency |
| XYZ Ltd. is inefficient in fund management for optimum returns |
| XYZ Ltd. is able to discharge all its obligations effectively |
| XYZ. Ltd is performing much better than the competitors |
| Q10.Identify from the given facts which hold true with respect to Unit Linked Insurance Plans - 1. The risk of market fluctuations and their effect on the NAV of the fund is borne by Insurer 2. ULIPs are generally for longer terms with a lock-in period of 3 to 5 years 3. On maturity, NAV of outstanding units are paid and in case of death, the sum assured is paid in addition to NAV of outstanding units |
| Both 1 and 2 are correct |
| Both 2 and 3 are correct |
| All 1, 2, and 3 are correct |
| Only 1 is correct |
| Only 3 is correct |