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Category: IC24 – LEGAL ASPECTS OF LIFE ASSURANCE – 23

IC24 – LEGAL ASPECTS OF LIFE ASSURANCE – 23

Que. 1 : Q1) Rules Regulations that have their source from legal textbooks written by eminent jurists will be classified under which source of law?

   1.  a) Formal source

   2.  b) Historical source

   3.  c) Legal source

   4.  d) Literary source

Que. 2 : Q2) Who shall be a citizen of India?

   1.  a) Who was born in the territory of India

   2.  b) either of whose parents was born in the territory of India

   3.  c) Who has been ordinarily resident in the territory of India, for not less than five years immediately preceding such commencement

   4.  d) All of these

Que. 3 : Q3) Section 11 states who is competent to enter into a contract. Every person is competent to contract

   1.  a) who is of the age of majority according to the law

   2.  b) who is of sound mind

   3.  c) who is not disqualified from contracting by any law

   4.  d) All of the above

Que. 4 : Q4) Which of the below is true for policies affected under Section 6 of the M.W.P Act?

   1.  a) Nomination and assignment is applicable

   2.  b) Nomination is allowed by assignment is not applicable

   3.  c) Nomination is not allowed but assignment is applicable

   4.  d) Nomination as well as assignment is not applicable

Que. 5 : Q5) Which of the following is one of the stages of Money Laundering?

   1.  a) Smurfing

   2.  b) Shell Companies

   3.  c) Placement

   4.  d) None of the above