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Category: IC14 REGULATION OF INSURANCE BUSINESS – 04

IC14 REGULATION OF INSURANCE BUSINESS – 04

Que. 1 : Q1) Renewal Fee for Licence for Corporate Agent is

   1.  a) Rs 1000

   2.  b) Rs 500

   3.  c) Rs 100

   4.  d) Rs 250

Que. 2 : Q2) Minimum qualification required for an insurance agent is _______ pass.

   1.  a) Graduate

   2.  b) 10th

   3.  c) Post-Graduate

   4.  d) 7th

Que. 3 : Q3) Choose the Correct Option. Statement A: Life insurer will invest not less than 25% in Central Government Securities. Statement B: Life insurer will invest not less than 50% in Central & State Government Securities.

   1.  a) Statement A

   2.  b) Statement B

   3.  c) Both

   4.  d) None

Que. 4 : Q4) The objective of the ‘Key feature document’ is_______________.

   1.  a) To educate the customer on insurance industry

   2.  b) To enable the agent to make a quick sale

   3.  c) To enable the policyholder to take a decision as to whether the product suits him or her

   4.  d) To explain how the product is superior to competition

Que. 5 : Q5) The Grievance Redressal Authority (GRA) selection committee consists of members of _________.

   1.  a) National Councils

   2.  b) State Councils

   3.  c) Consumer Councils  

   4.  d) Insurance Councils