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Category: IC24 – LEGAL ASPECTS OF LIFE ASSURANCE – 27

IC24 – LEGAL ASPECTS OF LIFE ASSURANCE – 27

Que. 1 : Q1) The Payment of Gratuity Act was passed in which year?

   1.  a) 1976

   2.  b) 1972

   3.  c) 1970

   4.  d) 1978

Que. 2 : Q2) Under the principle of insurable interest which of the following can be Insured?

   1.  a) Own Property

   2.  b) Own Life as well as Life of Spouse

   3.  c) Potential liability

   4.  d) All of the above

Que. 3 : Q3) The stamp duty payable insurance contracts is ___________ for every sum insured Rs.1000 or part thereof in excess of Rs.1000.

   1.  a) Ten paise

   2.  b) Twenty paise

   3.  c) Thirty paise

   4.  d) Fourty paise

Que. 4 : Q4) After the Government’s initiative in the area of financial reforms covering the banking system and capital markets, the Government of India appointed a committee it was popularly known as?

   1.  a) Naresh Chandra Committee

   2.  b) Narasimham Committee

   3.  c) Rangarajan Committee

   4.  d) Malhotra Committee

Que. 5 : Q5) Facultative risk is at which level?

   1.  a) at a risk level

   2.  b) at a portfolio level

   3.  

   4.