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Category: IC26 LIFE INSURANCE FINANCE – 20

IC26 LIFE INSURANCE FINANCE – 20

Que. 1 : Q1) As per IRDA investment guidelines insurers are required to invest not less than _____ of their investable funds in Housing and Infrastructure

   1.  a) A. 5%

   2.  b) B. 10%

   3.  c) C. 12.5%

   4.  d) D. 15%

Que. 2 : Q2) Reconciliation of overcasting on receipts side of cash book

   1.  a) Increases the balance in the cash book.

   2.  b) Increases the balance in the passbook.

   3.  c) Decreases the balance in the cash book.

   4.  d) Decreases the balance in the passbook.

Que. 3 : Q3) A customer has a right to cancel his Life Insurance Policy when his questions are not answered or the policy is missold to him. This is called:

   1.  a) A. Free look right

   2.  b) B. Free look period

   3.  c) C. Free look cancellation

   4.  d) D. Free look duty

Que. 4 : Q4) _______ is a Periodical Payment made, in exchange for purchase money [Capital Payment], for the Reminder of the Life Time of a Named Life or for a specified period, irrespective of the duration of human life.

   1.  a) Insurance

   2.  b) Premium

   3.  c) Annuity

   4.  d) Claim

Que. 5 : Q5) What does FIU stands for in the context of AML?

   1.  a) Fraud Investigation Unit

   2.  b) Files and Information Unit

   3.  c) Financial Intelligence Unit

   4.  d) Foundation for International Understanding on AML