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Category: IC14 REGULATION OF INSURANCE BUSINESS – 07

IC14 REGULATION OF INSURANCE BUSINESS – 07

Que. 1 : Q1) Premium received in advance not related to the current accounting period is to be shown under _________.

   1.  a) current assets

   2.  b) current income

   3.  c) current liabilities

   4.  d) contingent liabilities

Que. 2 : Q2) Which of the following is the main objective of the consumer protection act?

   1.  a) To hear the appeals passed over by the supreme court

   2.  b) To define the guidelines for Insurance Policies

   3.  c) To provide simple,speedy,effective ,inexpensive redressal to the consumers

   4.  d) to support the vendor,suppliers and retailers

Que. 3 : Q3) When did IRDAI notify the Micro Insurance regulations ?

   1.  a) 10th Nov 2001

   2.  b) 10th Nov 2002

   3.  c) 10th Nov 2003

   4.  d) 10th Nov 2005

Que. 4 : Q4) Reserves for Outstanding Claims come under the heading of

   1.  a) Accounting reserves

   2.  b) Technical Reserves

   3.  c) Unexpired Premium

   4.  d) Asset Liabilities Reserves

Que. 5 : Q5) ‘Incontestable Clauses’ is employed as a clause in insurance in which country ?

   1.  a) Switzerland

   2.  b) Australia

   3.  c) France

   4.  d) USA