IC14 REGULATION OF INSURANCE BUSINESS - 08
| Q1.The minimum policy term in a life insurance contract is __ years. |
| 1 |
| 2 |
| 3 |
| 4 |
| 5 |
| Q2.Which of the below transactions can be termed 'suspicious'? |
| Cash payment of the big amount for insurance premium |
| Use of third party cheque to buy an insurance policy |
| Non-disclosure of data by customers |
| An incident of pre-payment of insurance premiums |
| All of the above |
| Q3.Within how many days should the insurer take a decision regarding a proposal and convey it to the proposer? |
| 7 days |
| 15 days |
| 30 days |
| 45 days |
| 60 days |
| Q4.Which among the below mentioned entities are responsible for negotiated settlements that enables to save interest and administration charges? |
| Lok Adalats |
| Jald Rahat Yojana |
| Claims Conciliation Committees |
| None of the above |
| All of the above |
| Q5.How can one assess if an insurance company will be able to meet its claims or not? |
| Price Earning Ratio |
| Profitability of the company |
| Share Capital of the company |
| EBITA % |
| Solvency Ratio |
| Q6.What fee is charged by the authority to issue duplicate copies of the license to Corporate Agents? |
| Rs 10 |
| Rs 50 |
| Rs 100 |
| Rs 250 |
| Rs 500 |
| Q7.The minimum functional capital of a TPA shall not be less than ___. |
| Rs. 25 lakh |
| Rs. 50 lakh |
| Rs. 1 crore |
| Rs. 2.5 crore |
| Rs. 5 crore |
| Q 8. The major difference between a ULIP and a traditional Endowment Plan is that under a ULIP, the investment risks are borne by the ____. |
| Insurance Company |
| Underwriter |
| Agents |
| IRDA |
| Policyholders |
| Q9.How many technical members are there in the GRA? |
| 1 |
| 2 |
| 3 |
| 4 |
| 5 |
| Q10.In the full form of NDPS, 'P' stand s for ____. |
| Psychosis |
| Profiteering |
| Psychotropic |
| Pharma |
| Performance |
