IC14 REGULATION OF INSURANCE BUSINESS -15
| Q 1.Appeals before the National Commission can be made within ___ days. |
| 7 |
| 15 |
| 30 |
| 45 |
| 60 |
| Q2.Insurance in India is regulated by Acts passed in which of these years? |
| 1939 and 1999 |
| 1938 and 1999 |
| 1938 and 1998 |
| 1937 and 1998 |
| 1936 and 1997 |
| Q3.What is a Microinsurance agent generally paid? |
| Fixed Salary |
| Remuneration |
| Commission |
| Bonus |
| Premium |
| Q4.___ has the power to issue regulations specifying the manner of receipt of premium by the insurer. |
| LIC |
| IRDA |
| Consumer Forums |
| National Commission |
| Central Government |
| Q5.To whom shall the amount be payable which is secured by a policy? |
| Survivors |
| Assignee |
| Assignor |
| Shareholders |
| Policyholder |
| Q6.An appeal in National Commission can be made subject to deposit of ___ of the amount awarded or __ which ever is less. |
| 10% , Rs 35,000 |
| 20% , Rs 35,000 |
| 30% , Rs 35,000 |
| 40% , Rs 35,000 |
| 50% , Rs 35,000 |
| Q7.Who holds a license to act as an insurance agent either for one life insurer or general insurer? |
| Composite Insurance Agent |
| Insurance Agent |
| Insurance Broker |
| Corporate Insurance Agent |
| Re-insurance Agent |
| Q8.The policy administrative charges for a ULIP cannot be ___. |
| more than 1% per annum |
| more than 2% per annum |
| more than 3% per annum |
| more than 4% per annum |
| more than 5% per annum |
| Q9.When the Insurance Act is silent about any particular feature of transfer of a policy then __ act will be applicable. |
| Contract Act |
| LIC Act |
| IRDAI Act |
| Transfer of Property act |
| None of above |
| Q10.If the ULIP top-ups are not linked to sum assured, they will not be subject to any __. |
| Financial underwriting norms |
| TDS deductions |
| Income tax deductions |
| Penalties for late payments |
| Service charges |