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Category: IC02 PRACTICE OF LIFE INSURANCE – 06

IC02 PRACTICE OF LIFE INSURANCE – 06

Que. 1 : Q1) “Boiler and Pressure plant insurance’ is best described as_____________.

   1.  a) It covers damage caused by explosions of boilers or pressure plants, to the plant, to surrounding property of insured and to third parties

   2.  b) It covers risks related to accidents of any kind

   3.  c) It covers loss of or damage to ocean going ships and other vessels

   4.  d) It deals with insurance of motorized vehicles on road

Que. 2 : Q2) Once all the requirements are completed how much time should an Insurance Company take to settle the claim?

   1.  a) 60 days

   2.  b) 30 days

   3.  c) 120 days

   4.  d) None of the above

Que. 3 : Q3) In case the nominee appointed is minor and no appointee has been appointed, then the proceeds of the death claim will go to ___________.

   1.  a) Legal heirs of the life assured

   2.  b) Court appointed trustees

   3.  c) Appointee

   4.  d) The wife or husband of the life assured

Que. 4 : Q4) Which office of the LIC handles actuarial and Investment Functions?

   1.  a) Central Office

   2.  b) Zonal Office

   3.  c) Divisional Office

   4.  d) Branch Office

Que. 5 : Q5) If the policyholder wants to shift his existing investments from an equity fund to a Debt Fund its known as

   1.  a) Transfer of funds

   2.  b) Switching

   3.  c) Redirection

   4.  d) None of the above