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Category: IC23 APPLICATIONS OF LIFE INSURANCE – 07

IC23 APPLICATIONS OF LIFE INSURANCE – 07

Que. 1 : Q1) Which highlights any matter or problems of a takaful company’s branch/outlet and all managers at every must refer to headquarters about problems arising, especially management problems, before making any changes or decisions?

   1.  a) General administration

   2.  b) Personnel training

   3.  c) Branch operation

   4.  d) None of these

Que. 2 : Q2) Which of the following is a form of reinsurance under which the reserves as well as the risks are transferred to the reinsurer and in this type, the relationship between the insured and each insurer are separate?

   1.  a) Co-insurance

   2.  b) Life reassurance

   3.  c) Aviation reinsurance

   4.  d) Big or Non-standard risks

Que. 3 : Q3) Which of the following are retirement benefits for Government employees?

   1.  a) Gratuity

   2.  b) General Provident Fund

   3.  c) Defined Benefit Pension Plan

   4.  d) All of the above

Que. 4 : Q4) Maturity claims includes benefits payable during the period of assurance called ___________under certain types of policies such as "money back policies.

   1.  a) Bonus benefits

   2.  b) Death benefits

   3.  c) Survival benefits

   4.  d) None of these

Que. 5 : Q5) What means an excess or increase and Technically it refers to an increase, which in a loan transaction or in exchange of commodity accrues to the owner without giving an equivalent counter value or recompense in return to the other party?

   1.  a) Riba

   2.  b) Gharar

   3.  c) Maysir

   4.  d) Haram