Que. 1 : Q1) The preamble includes the proviso and______________.
1. a) Operative Clause
2. b) Attestation
3. c) Conditions
4. d) Schedule
Que. 2 : Q2) Mls. Advance life insurance company issued a quotation on 6th March, guaranteed for 14 days and which was accepted on the 12th day. Consequently, the insurer can only decline the risk if_____________.
1. a) The insurer increases the premium rates
2. b) Customer submits a second quotation request
3. c) Stock rates changes
4. d) Material fact changes
Que. 3 : Q3) Mr Mahesh was not in a ﬁnancial position to pay all the premium in full of his insurance policy and so his policy lapsed. This policy was revived under the____________scheme .
1. a) Special policy revival scheme
2. b) Regular policy revival scheme
3. c) Late policy revival scheme
4. d) Retain all customer motive
Que. 4 : Q4) Net Written Premiums = Gross Premium Values X Net Collected Premiums minus______________.
1. a) Re-insurance Charges
2. b) Ceding Commissions
3. c) Bank Interest and Government Taxes
4. d) Re-insurance Charges and Ceding Commissions
Que. 5 : Q5) The ‘days of grace’ clause is not enforced in ____________.
1. a) Salary Saving Scheme
2. b) Postal Life insurance
3. c) Mediclaim policies
4. d) Place of payment of premium