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Category: IC24 – LEGAL ASPECTS OF LIFE ASSURANCE – 30

IC24 – LEGAL ASPECTS OF LIFE ASSURANCE – 30

Que. 1 : Q1) Generally speaking, a person’s ___________ means the place where he has his permanent home.

   1.  a) domicile

   2.  b) residence

   3.  c) accommodation

   4.  d) appartment

Que. 2 : Q2) The term ____________ ordinarily means a transfer of property by writing as distinguished from one by delivery.

   1.  a) domicile

   2.  b) residence

   3.  c) accommodation

   4.  d) appartment

Que. 3 : Q3) According to _______ , any promise or agreement enforceable at law is a contract.

   1.  a) Anson

   2.  b) Pullock

   3.  c) Ranking

   4.  d) The Indian Contract Act

Que. 4 : Q4) The complainant has option to accept or reject the recommendations. If accepted by him, the insurer has no option but to comply with them within ________ failing which Ombudsman shall pass a speaking Award.

   2.  b) 15 days

   1.  a) 10 days

   3.  c) 30 days

   4.  d) 50 days

Que. 5 : Q5) In which plans the insurance company pays the life assured the promised sum assured and the accumulated bonuses(if any) at the end of the tenure of the plan?

   1.  a) Money back plan

   2.  b) Return of Premium(ROP) plans

   3.  c) Annuities

   4.  d) Endowment and whole life plans