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Category: IC14 REGULATION OF INSURANCE BUSINESS – 24

IC14 REGULATION OF INSURANCE BUSINESS – 24

Que. 1 : Q1) Third Party death liability in Private Car is unlimited. The liability in case of Motor Vehicle is:

   1.  a) Rs.5 lakh

   2.  b) Rs.1 lakh

   3.  c) Unlimited

   4.  d) None of the above

Que. 2 : Q2) What is the core aspect to determine the extent of required insurance coverage called ?

   1.  a) Human life value element

   2.  b) Human life period element

   3.  c) Human life productivity element

   4.  d) Net asset life element

Que. 3 : Q3) What does IBNR in Insurance Business Stands for

   1.  a) Incurred but nor reported

   2.  b) Incurred but not realised

   3.  c) Injured but nor reported

   4.  d) Injured but not realised

Que. 4 : Q4) The TPA has to submit the annual report within_____________days at the end of the financial year, to the insurance company

   1.  a) 30

   2.  b) 45

   3.  c) 60

   4.  d) 75

Que. 5 : Q5) In all cases, except in_________insurance, a proposal for grant of a cover, either for life business or for general business, must be evidenced by a WRITTEN document.

   1.  a) Fire

   2.  b) Life

   3.  c) Marine

   4.  d) Burglary