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Category: IC14 REGULATION OF INSURANCE BUSINESS – 25

IC14 REGULATION OF INSURANCE BUSINESS – 25

Que. 1 : Q1) In simple terms what does a VOID AB INITO Policy mean?

   1.  a) Policy exists

   2.  b) Policy doesnot exist ]

   3.  c) Risk of the insurer is deferred

   4.  d) Risk of the Insurer commences

Que. 2 : Q2) What does the Consumer Protection (amendment) Act cover ?

   1.  a) Covers all goods and services ]

   2.  b) Covers all services but no goods

   3.  c) Covers all goods but no services

   4.  d) Covers only goods and services made in India

Que. 3 : Q3) Which of the following is Layering stage of Money Laundering?

   1.  a) Utilizing laundered money

   2.  b) Investing small amounts everyday

   3.  c) Moving funds to distance place ]

   4.  d) Introducing Illegal Profits into the Financial System

Que. 4 : Q4) What does a referral arrangement allow ?

   1.  a) Sale of insurance products in the premises of the referral co

   2.  b) Undertake insurance related activities in the referral co.

   3.  c) Sharing of database of the customers of the referral co. ]

   4.  d) All the above

Que. 5 : Q5) The value of services and compensation claimed under National Commission is ___________.

   1.  a) Up to Rs. 20 lakhs

   2.  b) More than Rs, 20 lakhs but less than Rs, 1 crore

   3.  c) More than Rs, 1 crore but less than Rs, 2 crores

   4.  d) More than Rs, 1 crore ]