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Category: IC02 PRACTICE OF LIFE INSURANCE – 12

IC02 PRACTICE OF LIFE INSURANCE – 12

Que. 1 : Q1) In which of the following postal life insurance plan the insured gets the sum assured and bonus at the time of maturity

   1.  a) Whole Life Insurance Plan

   2.  b) Endowment Assurance Plan

   3.  c) Convertible Whole Life Insurance Plan

   4.  d) Postal Monthly Income Plan

Que. 2 : Q2) Find out Surrender Value, on the basis of following data, the answer to be rounded off to the next lower rupee.Date of Commencement – 15.06.1992. Endowment with profit for 30 years. SA Rs.30,000/-. Mode Half Yearly. Date of Last Premium paid 15-06-2007. Accrued Bonus Rs.750/- per Thousand S.A. Surrender Value Factor 23%

   1.  a) Rs 3670

   2.  b) Rs 3765

   3.  c) Rs 8740

   4.  d) Rs 4370

Que. 3 : Q3) The maximum limit for the amount under dispute for which the Ombudsman can entertain a complaint is up to Rs. _________.

   1.  a) 20 lakhs

   2.  b) 25 lakhs

   3.  c) 50 lakhs

   4.  d) 75 lakhs

Que. 4 : Q4) Which of the following terms matches closest with Foreclosure?

   1.  a) Surrender Value

   2.  b) Nominee

   3.  c) Death Claim

   4.  d) Maturity Claims

Que. 5 : Q5) In case of a policy where the premium payment is annual how many days will be allowed as grace period for premium payment after the premium due date?

   1.  a) 15 days

   2.  b) There is no grace period

   3.  c) 30 days

   4.  d) Till the next premium due date