Licentiate Exam IC23- APPLICATIONS OF LIFE INSURANCE
Application Of Life Insurance -Licentiate Exam IC23 mock test series- Click Here>>
Licentiate Exam IC23 Questions.| Q1.____is the direct insurance company that transfers the risk. |
| Cede |
| Cedent |
| Reinsurer |
| Insurer |
| insured |
| Q2.Need for asset accumulation arises at which of the following stage? |
| pre retirement stage |
| post-retirement stage |
| initial stage |
| prime earning stage |
| Mid earning stage |
| Q3.Which of the following types of investment is/are haram under Islamic finance? |
| products based on animal testing |
| production of greenhouse gases |
| health and safety breaches |
| Gambling is forbidden |
| None of the above |
| Q4.Compulsory coverage for retirement plans in India extends to __. |
| Self-employed |
| Businessmen |
| Salaried employees |
| Students |
| Professionals |
| Q5.Which of the following areas are covered under the administration department of a Takaful Company? |
| Branch operations |
| General administration |
| Personnel training |
| five |
| six |
| Q6.For life insurance, the insurable interest must exist _____. |
| before the policy was issued. |
| after the policy was issued |
| at the time policy was issued |
| Insurable interest does not exist in life interest. |
| Anytime |
| Q7.Centralized Government Health Insurance Scheme |
| Centralized Government Health Insurance Scheme |
| Central Government Health Insurance Scheme |
| Central Government Human Insurable Scheme |
| Core Government Health Insurance Scheme |
| Core Government Human Insurance Scheme |
| Q8.The maximum annual contribution that an employer can make to the pension fund and the provident fund is restricted by Income Tax Provisions to ___ of the annual salary. |
| 25% |
| 26% |
| 27% |
| 30% |
| 35% |
| Q9.Which of the following is not a rider? |
| Critical illness |
| Untimely death |
| permanent disability |
| All the above |
| None of the above |
| Q10._____ is a type of excess of loss reinsurance. |
| Surplus reinsurance |
| Catastrophe reinsurance |
| Quota Share reinsurance |
| Small share reinsurance |
| All the above |
