IC14 REGULATION OF INSURANCE BUSINESS - 11

Que. 1 : Q1) Fund Value or net fund value means __________.

   1.  a) The total value of the units multiplied by the net asset value per unit

   2.  b) Net asset value

   3.  c) Aggregate asset value

   4.  d) Policy account value

Que. 2 : Q2) As per IRDA Life Insurance - Reinsurance regulations 2000, the reinsurer chosen by the insurer must enjoy a credit rating of a minimum of ________of Standard and Poor or equivalent rating of any International rating agency

   1.  a) AA+

   2.  b) AAA

   3.  c) BBB

   4.  d) BB

Que. 3 : Q3) In the full form of NDPS, 'P' stands for________.

   1.  a) Psychosis

   2.  b) Profiteering

   3.  c) Psychotropic

   4.  d) Phrama

Que. 4 : Q4) The maximum loan amount that can be sanctioned for any ULIP policy having more than 60% of its funds invested in equities is_____________of the policy's surrender value.

   1.  a) 25%

   2.  b) 40%

   3.  c) 30%

   4.  d) 50%

Que. 5 : Q5) Which of the following is a duty of IRDA. 1) Protection of the interests of the policyholders in matters concerning assigning of policies, nomination by policyholders, insurable interest, settlement of insurance claims, surrender value of policy and other terms and conditions of contracts of insurance. 2) Specifying requisite qualifications,code of conduct and practical training for intermediary or insurance intermeidaries or insurance mediaries and agents. 3) Specifying the code of conduct for surveyors and loss assessors

   1.  a) Only 1 and 2

   2.  b) Only 2 and 3

   3.  c) All of the above

   4.  d) None of the above