IC14 REGULATION OF INSURANCE BUSINESS – 02

Q1.What is the Statement of down graded investments also called?
 Form 1
 Form 2
 Form 3
 Form 2A
 Form 3A

 

Q2.__ is an objective of Redressal of Public Grievances rules.
 Formation of GRA
 Protection of consumers interest
 Providing grievances to consumers
 Aim at resolving complaints relating to the settlement of disputes
 All of the above

 

Q3.How is the refund of premium paid to the insured?
 Only in cash
By Demand Draft
 By Pay Order
By Paycheque
 By Crossed cheque

 

Q4.Who makes rules to regulate the procedure for the investigation of misbehavior or incapacity of the President and Members of GRA?
 IRDAI
 National Government
 Central Government
 State Government
 Local Government

 

Q5.In which industry should the person have an experience of not less than 15 years under IAT ( Insurance Appellate Tribunal )?
 Aviation industry
 IT industry
 Telecom industry
 Insurance industry
 Law firm

 

Q6.Which system was created by ‘Redressal of Public Grievances Rules 1998
 Actuaries Society of India
 Consumer Forums
Insurance Ombudsman
 Online Grievances Lodging system
 Insurance Surveyors

 

Q7.Repudiation of life policy will result in forfeiting the policy amount by ____.
 Nominee
 Actuary
 Insurer
 Agent
 Wealth insurance policy

 

Q8.In ___, any increase or decrease in the net asset value (NAV) of the plan during the free look period is passed on to the customer.
 Tax Saving Mutual Funds
 Endowment plan
 Declared policy plan
 Insurance plans of private sector companies
 Unit linked insurance plans

 

Q9.In the purview of the Insurance Ombudsman under ‘Nature of complaints’, any partial or total reputation of claim is by ___.
 the Agent
 the Proposer
the Policyholder
 any aggrieved person who has bought an insurance policy
 the Insurer

 

Q10.DCB’ means ___ .
 Development Countrywide Bank
 Development Credit Bank
 District Co-operative banks
Directorate of Credit Business
 Daily Cash Book

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