IC14 REGULATION OF INSURANCE BUSINESS - 05
| Q1.Why have the transaction records to be retained for 10 years? |
| To answer any queries from policyholders |
| To achieve 100% compliance |
| To create data warehousing reports |
| To enable best practices study |
| To establish the fairness of the insurer |
| Q2.As for ____, the assignment/transfer is not operative. |
| Agents |
| Brokers |
| Insurers |
| Non-life Insurers |
| Transferor |
| Q3.Past performance of ULIPs in advertisement can only contain __. |
| Results of investments and projected figures |
| Results of allocation and past figures |
| Results of funds and supporting figures |
| Results of units and interest rates |
| Results of investments and premium |
| Q4.On which matter can the Executive Committee of Life Insurance Council advise the IRDAI? |
| On the matters of staff selected by insurance companies |
| On the matters of losses incurred by Life Insurance Companies |
| On the matters of property acquired by Life Insurance Companies |
| On the matters of taxes paid by Life Insurance Companies |
| On the matters of expenses incurred by Life Insurance Companies |
| Q5.Pand GS means ___. |
| Punjab amp; amp; Gurudaspura Services |
| Post and amp; Govt. schemes |
| Promised & Guarantee schemes |
| Promised and Guarantee schemes |
| Private & Govt. Suppliers |
| Q6.As per Section 45 of the Insurance Act, no policy of life insurance effected before the commencement of this Act shall after the expiry of ____ years from the date of commencement of this Act. |
| 1 |
| 2 |
| 3 |
| 4 |
| 5 |
| Q7.CBEC' means __ . |
| The central bureau of excise and customs |
| Company board of excise and customs |
| Central board of excise companies |
| The central bureau of excise commission |
| Central board of excise and customs |
| Q8.SHG' stand s for ____. |
| Sovereign Health Grade |
| Society of home guards |
| Self Help Groups |
| Security Home Group |
| None of the above |
| Q9.What is the minimum term of cover in Life Micro Insurance for a term insurance plan without return of premiums? |
| 1 year |
| 3 years |
| 5 years |
| 7.5 years |
| 10 years |
| Q10.When did IRDAI notify the Micro Insurance regulations? |
| 10th Nov 2001 |
| 10th Nov 2002 |
| 10th Nov 2003 |
| 10th Nov 2004 |
| 10th Nov 2005 |