IC26 LIFE INSURANCE FINANCE -17
| Q1.The Statutory Limit of Expense Ratio is ___. |
| a) A. 15% |
| b) B. 10% |
| c) C. 20% |
| d) D. 25% |
| Q2.In the declining balance method of depreciation__ |
| a) Lesser depreciation tends to occur earlier in the life of the asset |
| b) More depreciation tends to occur earlier in the life of the asset |
| c) Equal depreciation tends to occur earlier in the life of the asset |
| d) More depreciation tends to occur later in the life of the asset |
| Q3.Computers PLC sole computers for 2,00,000. This is a ____ receipt because it is part of the regular income |
| a) Revenue |
| b) Capital |
| c) Both |
| Q4.__ of human resource accounting indicates the value of sacrifice that an enterprise has to make to replace its human resources with identical ones. |
| a) A. Flamholtz Model (1973) |
| b) B. Lev and Schwartz Model (1971) |
| c) C. Jaggi and Lau Model (1974) |
| d) D. Hekimian and Jones Model |
| Q 5. The basic exemption limit (for the assessment year 2016-17) in the case of a resident individual of the age of 60 years or above but below 80 years is Rs. _____. |
| a) Rs. 2,00,000 |
| b) Rs. 2,50,000 |
| c) Rs. 3,00,000 |
| d) Rs. 5,00,000 |
| Q6.What maximum amount can an individual save in various investment instruments under Section 80C to claim a deduction from taxable income in an Assessment Year? |
| a) Rs. 1,15,000 |
| b) Rs. 1,50,000 |
| c) Rs. 1,25,000 |
| d) Rs. 2,50,000 |
| Q7.Under KYC norms, a customer not having PAN No. is required to furnish : |
| a) Form 22 |
| b) Form 16A |
| c) Form 60 or 61 |
| d) Form 96 |
| Q8.If the Current Ratio is 1: 1 and Current Liabilities are Rs. 50,000; Current Assets would be |
| a) 50000 |
| b) 75000 |
| c) 25000 |
| d) 100000 |
| Q9.Assets represent a source of funds whereas liabilities denote the use of funds in a balance sheet. |
| a) TRUE |
| b) FALSE |
| Q10.IFRS 4 separates investment and insurance components of a contract to account for embedded derivation at fair value with movements in this value being recorded in the __. |
| a) A. Revenue Statement |
| b) B. Income Statement |
| c) C. Profit and Loss Statement |
| d) D. Balance Sheet |
