IC83 GROUP INSURANCE - 19

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Q1.Which act provides for 12 weeks wages during maternity as well as paid leave in certain other related contingencies?
   a) The Workmen's Compensation Act,1923
   b) The Employees' State Insurance Act, 1948
   c) The Maternity Benefit Act, 1961
   d) The Employees' Provident Funds and Miscellaneous Provisions Act, 1952
 
Q2.Which is an important piece of Labour Welfare Legislation enacted by the parliament to provide social security benefits to the workers?
   a) Employees Provident Fund and; MP Act, 1952
   b) Income Tax Act, 1961
   c) Employees Deposit-Linked Insurance Scheme,1976
   d) Employee's Pension Scheme,1995
 
Q3.Commutation of pension up to a limit of __is tax-exempt in case the gratuity also is received
   a) 1/4 of the pension
   b) 1/3 of the pension
   c) 1/2 of the pension
   d) 3/4 of the pension
 
Q4.Which Section of Indian Income Tax speaks about Incomes not included in the total income?
   a) Section 4
   b) Section 5
   c) Section 10
   d) Section 11
 
Q5.All Indian Citizen between the age of __ can join the NPS.
   a) 10 to 50
   b) 18 to 60
   c) 15 to 75
   d) 17 to 55
 
Q6.In Group savings Variable Insurance Products, the minimum size of the group shall be at least ___ and the maximum size of the group shall not exceed___.
   a) 10 - 1000
   b) 15 - 3000
   c) 20 - 5000
   d) 30 - 7000
 
Q7.How much maximum amount employee can contribute towards provident fund?
   a) 8.33% of basic salary
   b) 10% of basic salary
   c) 12% of basic salary
   d) 20% of gross salary
 
Q8.In India, IRDA has allowed which methods of reinsurance for group business in case of new insurers?
   a) Quota share Arrangement
   b) Surplus Arrangement
   c) Proportional Reinsurance
  d) Non-Proportional Reinsurance
 
Q9.What means a facility allowing the policyholder to change the investment pattern by moving from one segregated fund, either wholly or in part, to another segregated amongst the segregated funds offered under the underlying unit-linked product of the insurer?
   a) Redemption
   b) Switches
   c) Premium re-direction
   d) Units
 
Q10.Which means the time granted by the insurer from the due date for the payment of premium, without any penalty or late fee, during which time the policy is considered to be in force with the risk cover without any interruption as per the terms of the policy?
   a) Forgive period
   b) Limited period
   c) Grace period
   d) None of these

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