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Category: IC24 – LEGAL ASPECTS OF LIFE ASSURANCE – 07

IC24 – LEGAL ASPECTS OF LIFE ASSURANCE – 07

Que. 1 : Q1) Which section of the Insurance Act stipulates that every application for the registration of an insurer shall be accompanied inter alia by a certified copy of the published prospectus?

   1.  a) Section 1

   2.  b) Section 2

   3.  c) Section 3

   4.  d) Section 4

Que. 2 : Q2) Which means the copy of a will certified under the seal of a court of competent jurisdiction with grant of administration to the estate of the testator.

   1.  a) Executor

   2.  b) Administrator

   3.  c) Pobate

   4.  d) Will

Que. 3 : Q3) ____________ means the legal declaration of the intention of the testator with respect to his property which he desires to be carried into effect his death.

   1.  a) Executor

   2.  b) Administrator

   3.  c) Probate

   4.  d) Will

Que. 4 : Q4) An individual should send to the Authority, the application for the renewal of life insurance license at least _______ before the date on which the licence ceases to remain in force.

   1.  a) Thirty days

   2.  b) Forty five days

   3.  c) Fifty days

   4.  d) Sixty days

Que. 5 : Q5) Under which list the enumerating matters in respect of which parliament and State Legislatures may both make laws?

   1.  a) Union List

   2.  b) State list

   3.  c) Concurrent List

   4.  d) Other Constitutional provisions