IC14 REGULATION OF INSURANCE BUSINESS - 07

Q1.In linked products what are the options of a policyholder during the first 5 years?
 Complete withdrawal from the policy without any risk cover
 Revive the policy within a period of two years
 Revive the policy within 5 years
 Both 1 and 2
 Both 2 and 3
 
Q2.____ is the act of changing the appearance of money that comes from illegitimate sources so that it appears legitimate money.
 Insider trading
 ADRs and GDRs
 Shell Companies
 Structured Deposits
 Money laundering
 
Q3.The insurers domiciled or incorporated outside India are called ____.
 Foreign Insurers
 Associate Members
 Members
 Council
Executive Committee
 
Q4.As per the investment guidelines of IRDA, the investment of premium received in Government securities should not be less than __.
 10%
 20%
 30%
 40%
 50%
 
Q5.The maximum time which can be taken by a life insurer to settle a claim under the policy it receives with all necessary papers is __ days
 10
 30
 45
 60
 90
 
Q6.In Single Premium (SP) contracts, the minimum sum assured for age at entry of below _ years is 125% of single premium
 40
 45
 50
 55
 60
 
Q7.IRDAI regulates the percentage of Life Insurance and __ in the rural sector.
 Motor Insurance
 General Insurance
Re-Insurance
 Property Insurance
 Fire Insurance
 
Q8.CFT stands for ___.
 Coalition for Terrorism
 Coalition Financing for Terrorism
 Countering for Terrorism
 Countering Financing for Terrorism
 Cash for Terrorism
 
Q9.In Regular Premium (RP) contracts, the minimum health cover for age at entry of below 45 years is ___.
2.5 times Annualized Premium (AP) or Rs 150000 whichever is lower
7.5 times Annualized Premium (AP) or Rs 25000 whichever is higher
5 times Annualized Premium (AP) or Rs 75000 whichever is higher
2 times Annualized Premium (AP) or Rs 75000 whichever is higher
5 times Annualized Premium (AP) or Rs 100000 whichever is higher
 
Q10.The insurer will charge a fee not exceeding __ to act on an assignment request.
 Rs 1
 Rs 5
 Rs 100
 Rs 500
 Rs 1000

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