IC26 LIFE INSURANCE FINANCE -23
| Q1.Structured transactions are also known as |
| a) placement |
| b) smurfing |
| c) integration |
| d) layering |
| Q 2.All expenses are recorded on __ side of the cash book and all receipts are recorded on __ side of the cash book. |
| a) Debit, Credit |
| b) Receipt, Payment |
| c) Credit, Debit |
| d) All of the above |
| Q3.In a balance sheet owners fund means |
| a) Money invested by owners from their sources |
| b) Paidup capital and reserves |
| c) Money contributed by the promoters |
| d) None of the above |
| Q4.Depreciation is the reduction in the value of |
| a) Asset |
| b) Capital |
| c) Lability |
| d) None of the above |
| Q5. When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Bank Statement, the unpresented cheques should be |
| a) Added |
| b) Deducted |
| c) Not required to be adjusted |
| d) None of the above |
| Q6.Comp Plc is the Manufacturer of computers. During 2006, the co., purchased machinery for Rs.1.0 lac. the Purchase Price is a ___ expenditure |
| a) Capital |
| b) Revenue |
| c) Both |
| Q 7.__ 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 |
| Q8.Out of the below, which is an example of a low-risk customer? |
| a) A. Non-residents |
| b) B. High Net-worth individuals |
| c) C. Companies having close family shareholding or beneficial ownership |
| d) D. None of the above |
| Q9.Who among the following comes under High-Risk Category and Requires Enhanced Due Diligence? |
| a) Non Resident Customers |
| b) High Net Worth Individuals |
| c) Trusts, charities, NGOs, and organizations receiving donations |
| d) All of the above |
| Q10.Which of the following statements is true? |
| a) A Permanent Account Number (PAN) is unique number allotted to a person whose total income amp; amp;lt; the amount not chargeable to tax |
| b) PAN is a Unique number allotted to a person whose total income = the amount not chargeable to tax |
| c) PAN is a Unique number allotted to a person whose total income > the amount not chargeable to tax |
| d) PAN is a Unique number is allotted to the deductor of tax at source for the purpose of identification of every deductor |