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Category: IC14 REGULATION OF INSURANCE BUSINESS – 08

IC14 REGULATION OF INSURANCE BUSINESS – 08

Que. 1 : Q1) How many general Insurance subsidaries did GIC have?

   1.  a) 1

   2.  b) 2

   3.  c) 3

   4.  d) 4

Que. 2 : Q2) Which is the correct order of the stages of money laundering?

   1.  a) Layering, Placement, Integration

   2.  b) Placement, Layering, Integration

   3.  c) Integration, Layering, Placement

   4.  d) Integration, Conversion, Placement

Que. 3 : Q3) What does Section 39 of Insurance Act Cover?

   1.  a) The risks to be assumed by the Insurer

   2.  b) The Nomination by the policy holder

   3.  c) Assignment and Transfer of Insurance Policies

   4.  d) The prohibition of rebates by the Insurance agents

Que. 4 : Q4) Which of the following closely matches with Repudiation of Claims?

   1.  a) Section 38 of Insurance Act 1938

   2.  b) Section 45 of Insurance Act 1938

   3.  c) Section 39 of Insurance Act 1938

   4.  d) Section 64 VB of Insurance Act 1938

Que. 5 : Q5) If Insurance is required during inland transit from the factory but the carrying vehicle has already left the premises then the Insurance Company

   1.  a) Will talk with the manager of the factory and accept the proposal

   2.  b) Will accept the proposal at a higher rate of premium

   3.  c) Will refuse the coverage

   4.  d) Will issue cover at Ordinary rates