IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 12
| Q1.Under the Constitution, laws related to matters enumerated in the concurrent list are made by ___. |
| a) Parliament only |
| b) State Legislature only |
| c) Both Parliament and State Legislatures |
| d) Both- State Legislatures and Municipal Corporations |
| Q2.As per provisions of COPA who of the below can be a consumer? |
| a) The policyholder in a contract of life insurance can be a consumer |
| b) A beneficiary of the policy under the MWP Act can be a consumer |
| c) A nominee under Section 39 of the Insurance Act 1938 can be a consumer |
| d) Any of the above can be a consumer |
| Q3.What is a contract made by word of mouth or implied by the conduct of parties? it cannot be enforced unless it is supported by a valuable consideration? |
| a) Specialty contract |
| b) Simple Contract |
| c) Contingent contract |
| d) None of these |
| Q4.Which of the following is correct about Citizenship? |
| a) It determines the civil rights of a person, natural or artificial particularly with reference to international law |
| b) All nationals may not be citizens of the State |
| c) Citizens are those persons who have full political rights |
| d) It has reference to the jural relationship which may arise for consideration under international law. |
| Q5.In case an assignee is a minor, ____ needs to be appointed. |
| a) Guardian |
| b) Appointee |
| c) Representative |
| d) Minor cannot be appointed assignee |
| Q6.All instruments chargeable with duty and executed in India shall be stamped before or at the time of execution. Say whether True or False. |
| a) True |
| b) False |
| Q7.Section 21 empowers the _____ to give directions to the Corporation in matters of policy involving public interest and the Corporation shall be guided by such directions. |
| a) Central Government |
| b) State Government |
| c) IRDA |
| d) RBI |
| Q8.According to Section 40A, any default in complying with this provision shall be punishable with a fine which may extend upto ____. |
| a) Rs. 200 |
| b) Rs. 300 |
| c) Rs. 400 |
| d) Rs. 500 |
| Q9.Which of the following was correct about Section 106 of the Transfer of Property Act, 1982? |
| a) defines a lease |
| b) specifies the duration of the lease which requires registration |
| c) Provides how a lease can be made |
| d) enumerated the rights and liabilities of lessor and lessee. |
| Q10.Name the person to whom the entire estate is bequeathed? |
| a) Universal legatee |
| b) Residuary legatee |