IC24 LEGAL ASPECTS OF LIFE ASSURANCE - 29
| Q 1.Enumerates the rights and liabilities of lessor and lessee comes under which section? |
| a) Section 105 |
| b) Section 106 |
| c) Section 107 |
| d) Section 108 |
| Q2.Which of the following is not considered a permanent disability? |
| a) entire sight of both eyes |
| b) Leg fracture |
| c) the amputation of both hands |
| d) the amputation of both feet |
| Q3.Any person receiving any money exceeding _____ in amount shall on demand by the person paying such money give a duly stamped receipt for the same. |
| a) Rs.5000 |
| b) Rs.6000 |
| c) Rs.7000 |
| d) Rs.9000 |
| Q4.Which Article provides for the continuance of 'all the law in force. |
| a) Article 374 |
| b) Article 372(1) |
| c) Article 376(2) |
| d) Article 379 |
| Q 5. The payment of the Gratuity Act came into force in ____. |
| a) 1942 |
| b) 1952 |
| c) 1962 |
| d) 1972 |
| Q6.Where do you not find insurable interest in the following options? |
| a) Surety-Co Surety |
| b) Employee-Employer |
| c) Husband-Wife |
| d) Brother-Sister |
| Q7.A life insurance license issued to an individual shall remain valid for __ from the date of issue. |
| a) 1 year |
| b) 3 years |
| c) 5 years |
| d) Life long |
| Q8.___ is the process in which a ceding company cedes part of the risk to a reinsurer. |
| a) Insurance |
| b) Reinsurance |
| c) Reinsurer |
| d) Cede |
| Q9.As per section 80CCD, any amount contributed by a salaried employee to a notified pension scheme shall be allowed as a deduction from taxable income up to____ of his/her salary. |
| a) 5% |
| b) 7.5% |
| c) 10% |
| d) 12.5% |
| Q10.The Indian Law classifies property as ____. |
| a) Real and Personal property |
| b) Movable and immovable property |
| c) Corporeal and incorporeal property |
| d) Tangible and intangible property |
