IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 03
| Q1.If the ombudsman's recommendation is accepted by the complaint the insurer has to comply with it in _. |
| a) 7 days |
| b) 15 days |
| c) 30 days |
| d) 45 days |
| Q2.Which of the following is not correct about the Constitution of the Supreme Court? |
| a) The Supreme Court of India is established under Article 124 of the Constitution of India. |
| b) It came into existence on 30th January 1960. |
| c) All supreme Court judges are appointed by the President of India. |
| d) The supreme court of India is at the apex of the machinery for administrations of justice |
| Q3.Reinsurance arrangements for the insurance companies registered with IRDA are to be decided by the companies themselves on ____ basis. |
| a) Annual |
| b) Half-yearly |
| c) Quarterly |
| d) Monthly |
| Q4. Which is an important source of law and serve as guidelines to deal with incidents in the absence of law? |
| a) Instance |
| b) Judicial precedents |
| c) Antecedent |
| d) None of these |
| Q5.Which of the following is not consider as a permanent disability? |
| a) entire sight of both eyes |
| b) Leg fracture |
| c) the amputation of both hands |
| d) the amputation of both feet |
| Q6.In a property mortgage transaction, the person who transfers the property is known as ___. |
| a) Transferor |
| b) Transferee |
| c) Mortgagor |
| d) Mortgagee |
| Q7.Under Section 108 of the Indian Evidence Act, 1872 if a person has not been heard of for _____, there is a presumption which is rebuttable. |
| a) 4 years |
| b) 5 years |
| c) 6 years |
| d) 7 years |
| Q8.Which of the below is not true in relation to nomination? |
| a) Nomination can be made at the time of effecting the policy or any time before the maturity of the policy |
| b) There can be more than one nominee for a policy |
| c) Nomination once made cannot be cancelled |
| d) Nomination can be changed at any time by the policyholder |
| Q9.As per provisions of Section 45; an insurer cannot repudiate a claim after ____ on ground of misrepresentation unless until he can prove that the insured had deliberately suppressed some material facts. |
| a) One year |
| b) Two year |
| c) Three year |
| d) Four years |
| Q10.In property insurance, insurable interest needs to exist at the time of taking the policy as well as at the time of making the claim. Say whether True of False. |
| a) True |
| b) False |