IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 15
| Q1.When the agency will be terminated |
| a) by the principal revoking his authority |
| b) by the agent renouncing the business of the agency |
| c) by the business of the agency is completed |
| d) In all the above situations |
| Q2.Reinsurance in life business is broadly classified into how many types? |
| a) one |
| b) two |
| c) three |
| d) four |
| Q3.Which of the following is true with respect to the doctrine of Insurable Interest? |
| a) Wife has an Insurable interest in the Life of her Husband |
| b) A person can take a policy on the life of a customer to whom he has lent money. |
| c) None of the above. |
| d) Both of the above |
| Q4.Under National Commission, who can be a President? |
| a) District Judge |
| b) High Court Judge |
| c) Supreme Court Judge |
| d) None of these |
| Q5.___ is one of the methods of settling civil disputes between two or more parties by reference of the dispute to an acceptable third party. |
| a) Law |
| b) Arbitration |
| c) Equity |
| d) Award |
| Q6.They are the written record of legal rules, law reports, statutory instruments and legal textbooks written by eminent jurists. It was classified under which source? |
| a) Formal source |
| b) Historical source |
| c) Legal source |
| d) Literary source |
| Q7.Which are all the documents required for death claim settlement |
| a) Proof of death |
| b) Proof of age |
| c) Policy bond |
| d) All of the above |
| Q8.The payment of the Gratuity Act came into force in ____. |
| a) 1942 |
| b) 1952 |
| c) 1962 |
| d) 1972 |
| Q9.Which of the following is correct about the High Courts? |
| a) Article 216 of the constitution states that there shall be a High Court for each state. |
| b) Every judge of a High Court was appointed by Prime Minister |
| c) There are 21 High Courts in India |
| d) None of these |
| Q10.The amount secured by the mortgage is known as the mortgage money and the instrument by which the transfer is effected is known as the ___. |
| a) Mortgage document |
| b) Mortgage deed |
| c) Mortgage agreement |
| d) None of these |