IC23 APPLICATIONS OF LIFE INSURANCE - 05
| Q1.Which of the following statement is true regarding endowment insurance policies? |
| back policies are a part of endowment policies. |
| Endowment policies are opted for by people who want periodical payments. |
| Money |
| Both (a) & (c) |
| All the above |
| Q2.In risk management, risks with ____loss and the _____probability of occurring are handled first. |
| highest, lowest |
| lowest, highest |
| greatest, highest |
| highest, greatest |
| Largest, smallest |
| Q3.Where is the headquarter of PFRDA located? |
| Mumbai |
| Hyderabad |
| Ahmedabad |
| United Bank of India |
| Allahabad bank |
| Q4.As a rule of thumb, ___times the salary amount are decided as the adequate amount for insurance. |
| 5 |
| 10 |
| 15 |
| 20 |
| 25 |
| Q5.NPS Trust was established under __ |
| Indian Trust Act 1881 |
| Indian Trust Act 1882 |
| Pension Act 1972 |
| Atal Pension Yojana |
| Pradhan Mantri Swarn Jayanti Yojana |
| Q6.Which of the following factors one should consider while buying insurance? |
| Lifestyle a person wants to provide for the family members. |
| Expenses requirement of dependents |
| Inheritance a person wants to leave |
| Both (a) & (c) |
| All the above |
| Q7.___ is the process in which a ceding company cedes part of the risk to a reinsurer. |
| Assurance |
| Insurance |
| Reinsurance |
| Reinsurance |
| None of the above |
| Q8.Deferred compensation plan is suitable for ___ |
| Arranging for filing of tax returns |
| Professional persons |
| Low paid executives |
| None of the above |
| All the above |
| Q9.The allocation of units of health protection plans in listed equity should not be more than _. |
| 30% |
| 40% |
| 50% |
| 60% |
| 75% |
| Q10.Which of the following is not true regarding gratuity? |
| It is governed by the payment of gratuity act of 1972. |
| It is paid on retirement or death as a lumpsum amount. |
| A minimum qualifying service of ten years is necessary for being entitled to receive gratuity. |
| All are true |
| Only (a) & (c) |