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Category: IC14 REGULATION OF INSURANCE BUSINESS – 30

IC14 REGULATION OF INSURANCE BUSINESS – 30

Que. 1 : Q1) Complaints against insurers are usually for which of the point(s) mentioned below ?

   1.  a) Policy lapse claims

   2.  b) Policy servicing

   3.  c) Claims

   4.  d) All of the above

Que. 2 : Q2) Which Act was introduced to bring both Life and Non-Life Insurance Companies under a Single Act?

   1.  a) Indian Life Assurance Companies Act 1912

   2.  b) Indian Insurance Act 1938

   3.  c) Life Insurance Coprporation Act 1956

   4.  d) General Insurance Business Act 1972

Que. 3 : Q3) If a person cancels an Insurance Policy during the Free Look Period then the Insurance Company refunds

   1.  a) Total Premium Paid without any deduction

   2.  b) Premium will be returned after deducting the cost pertaining to Medical tests

   3.  c) Premium will be returned after deducting Risk cover charges for the Free Look in Period

   4.  d) Premium will be returned after deducting Stamp Duty, Risk Cover Charges, Charges towards medical test

Que. 4 : Q4) _______refers to the separation of illicit proceeds from their source by creating complex layers of financial transactions

   1.  a) Placement

   2.  b) Layering

   3.  c) Integration

   4.  d) Smurfing

Que. 5 : Q5) The acronym MHR means _________.

   1.  a) Machine and Human Resources

   2.  b) Medical and Health Research

   3.  c) Modern Human Rights

   4.  d) Maximum Heart Rate