IC83 GROUP INSURANCE - 10

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Q1.Non-resident are eligible to open an account under the public provident scheme.
   a) TRUE
   b) FALSE
 
Q2.Which means that the ceding company and the reinsurer negotiate and execute a reinsurance contract under which the reinsurer covers the specified share of all the insurance policies issued by the ceding company which comes within the scope of that contract?
   a) Treaty Reinsurance
   b) Facultative Reinsurance
   c) Catastrophe cover
   d) Stop loss reinsurance
 
Q3.The fund-based group non-linked products may levy a surrender charge not exceeding ___ of the total policy account value with a maximum of Rs.5,00,000 if the policy is surrendered within the third renewal of the policy.
   a) 0.05%
   b) 0.10%
   c) 1%
   d) 2%
 
Q4.In the context of NPS Tier, I account is a prerequisite for opening a Tier II account
   a) FALSE
   b) TRUE
 
Q5.Which occupational class contains Light manufacture and assembly regular salesperson involved in travel or delivery, Nurses, Real estate agents, insurance agents and brokers and attendants and those in wholesale business also form the part of this class?
   a) Class 1
   b) Class 2
   c) Class 3
   d) Class 4
 
Q6.Who is not covered under the New Pension scheme?
   a) Employee of a Central (Civil) Ministry or Departments
   b) Employee of a non-civil Ministry or Department including Railways, Postal department
  c) All Central Government Employees
   d) An individual who has joined Central Government service before 01 January 2004
 
Q7.The amount to be subscribed to the PPF in any financial year can be in multiples of Rs 5 but not less than Rs 500 in his own account or a minor's account and the maximum being
   a) Rs 150000
   b) Rs 100000
   c) Rs 60000
   d) Rs 75000
 
Q8.i) For unit-linked products, this is a charge levied as a percentage of the value of assets and shall be appropriated by adjusting the Net Asset Value. ii) This is a charge levied at the time of computation of NAV, which is usually done on daily basis. iii) In the case of variable insurance products, the insurer shall not levy this charge. The name of the charge is?
   a) Rider charge
   b) Switching charge
   c) Guarantee charge
   d) Mortality charge
 
Q9.Which of the following is a division of Treaty insurance?
   a) Surplus arrangement
  b) Proportional Reinsurance
   c) Quota Share Arrangement
   d) None of these
 
Q10.What refers to setting a premium rate for the future coverage period by reflecting a group's past experience, to the extent that it is credible and is expected to continue into the future?
   a) Prospective experience rating
   b) Retrospective Experience Rating
   c) Profit Experience Rating
   d) Premium experience rating

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