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Category: IC23 APPLICATIONS OF LIFE INSURANCE – 03

IC23 APPLICATIONS OF LIFE INSURANCE – 03

Que. 1 : Q1) Which Life Insurance Based Family Takaful Products are similar to term assurance it is available on individual and group basis and Most of these products have the option to build a small fund available at the expiry of the policy unlike the conventional term insurance?

   1.  a) Protection Takaful

   2.  b) Education Takaful

   3.  c) Savings Takaful

   4.  d) Medical Takaful

Que. 2 : Q2) Which act was enacted by the U.S Congress in 1996 and this act deals with issued like healthcare access, privacy of data etc. and it also deals with issued of portability or the changing over from one employer/ one insurer to another without any loss to the insured person?

   1.  a) Health Maintenance Organisation

   2.  b) Health Savings Account

   3.  c) Health Insurance Portability and Accountability Act

   4.  d) Preferred Provider Organisation

Que. 3 : Q3) Employees’ Pension Scheme was established in _______.

   1.  a) 1968

   2.  b) 1952

   3.  c) 1971

   4.  d) 1995

Que. 4 : Q4) In Unit lined Insurance Plans, Benefits under Section 80C are available for only those plans where the minimum lock in period is _________.

   1.  a) 5 years

   2.  b) 10 years

   3.  c) 15 years

   4.  d) 20 years

Que. 5 : Q5) Which clause specifies that in the event of any portion of the limit of cover being reduced by settlement of a loss, the amount of limit of cover so reduced will be automatically reinstated from the time of commencement of the loss occurrence until the expiry of the agreement?

   1.  a) Ultimate Net loss clause

   2.  b) Reinstatement clause

   3.  c) Net retained Lines clause

   4.  d) Loss occurrence definition clause