ASSOCIATE – IC26 LIFE INSURANCE FINANCE – 13

Que. 1 : Q1) As per IRDA Guidelines for provisioning for loans for sub-standard assets a general provision of _______ of total value outstanding remaining sub-standard is required to be made.

   1.  a) A. 5%

   2.  b) B. 10%

   3.  c) C. 25%

   4.  d) D. 40%

Que. 2 : Q2) Jasmine owns a house property which is used by him throughout the previous year 2010-11 for his residence. The annual value of the property is Rs.150,000. Expenses incurred are as follows: Repairs:2,000; Municipal Taxes:20,000; Insurance:3,000; Interest on Borrowed Capital Rs.150,000. Compute the income from house property.

   1.  a) A. NIL

   2.  b) B. Rs.150,000

   3.  c) C. Rs.25,000

   4.  d) D. Rs.175,000

Que. 3 : Q3) Which of the following accounts is covered in the low risk category of customers:

   1.  a) a public limited company

   2.  b) a high net worth individual

   3.  c) a salaried employee

   4.  d) a non-resident Indian

Que. 4 : Q4) Who among the following comes under High Risk Category and Requires Enhanced Due Diligence?

   1.  a) Non Resident Customers

   2.  b) High Net Worth Individuals

   3.  c) Trusts, charities, NGOs and organizations receiving donations

   4.  d) All of the above

Que. 5 : Q5) Money Laundering refers to

   1.  a) Conversion of cash into gold

   2.  b) Conversion of asset into cash

   3.  c) Conversion of Illegal money into legitimate money

   4.  d) Transfer of cash from one account to another