IC23 APPLICATIONS OF LIFE INSURANCE - 08
| Q1.Defined benefit plans are usually insured by ___ |
| Nomination is allowed |
| State Government |
| Respective Company |
| None of the above |
| All the above |
| Q2.The main objective of Takaful is _____. |
| To spread happiness among members |
| To secure a life |
| To diversify the risk among members |
| None of the above |
| All the above |
| Q3.Which of the following is not true regarding Human Life Value? |
| It provides a method to calculate the quantum of life insurance the family bread earner should go in for to provide for his family in his absence. |
| It is a one-time calculation. |
| It helps in determining the value of life insurance one should invest in. |
| Section 38(2) |
| Section 39(3) |
| Q4.__is the insurance company that accepts the transfer of risk from the ceding company. |
| Cede |
| Cedent |
| Reinsurer |
| Insurer |
| Reinsurance |
| Q5.The full form of HIPAA is ____ |
| Health Insurance Portability and Accountability Act |
| Health Insurance Practice and Accountability Act |
| Health Insurance Premium and Accountability Act |
| 2002 |
| 2004 |
| Q6.What is the minimum qualifying service to receive superannuation pension in Government defined benefit pension plan? |
| ten years |
| twenty years |
| twenty-five years |
| thirty |
| thirty-five years |
| Q7.Which of the following is true regarding health protection policies? |
| Only (i) & (ii) |
| The premium under this scheme ranges from Rs. 150 to Rs. 1500 for self. |
| The sum assured under this scheme is fixed at 250 times the daily HCB for the insured, spouse, and child. |
| Only (i), (ii) & (iii) |
| Only (ii) |
| Q8._____policy is aimed at providing compensation for death or bodily injury suffered directly as a result of the accident. |
| Long term care insurance |
| Unit Linked Health Policies |
| Personal Accident Policy |
| Disability Income Insurance |
| Both (a) & (c) |
| Q9.If the duration of the policy i.e. the time elapsed from the date of commencement of risk to the date of death is less than two years then such a claim is considered as ____. |
| High paid executives |
| Early claim |
| Timely claim |
| Both (a) & (b) |
| Both (b) & (c) |
| Q10.Which of the following problems arises in the settlement of death claims? |
| Obtaining satisfactory proof of death |
| Obtaining satisfactory proof of policy |
| Obtaining satisfactory proof of name |
| Residuary legatee |
| None of the above |
