IC14 REGULATION OF INSURANCE BUSINESS -12

Q1.The Policyholder is also known as the __.
 beneficiary
 payee
 claimer
 insurer
 insured

 

Q2.Who aids, assists, and advises the life insurers in general functioning matters?
 RBI
An advisory committee of IRDAI
 Life insurance committee of IRDAI
 Chairman of Life insurance council
 

Exec Committee of Life Insurance Council

 

Q3.An appeal before the National Commission can be made subject to a deposit of ___ the amount awarded or ____ whichever is less.
 50%, Rs 25000
 50%, Rs 35000
 50%, Rs 50000
 50%, Rs 75000
 50%, Rs 100000

 

Q4.Any person who buys goods for consideration or avails any services for consideration is defined as a __.
 Buyer
 Consumer
 Seller
 Agent
 Proposer

 

Q5.According to the Consumer Protection (Amendment) Act, Service includes:
 Banking and Insurance
 Thoughts and ideas
 Services rendered free of cost
 All of the above
 None of the above

 

Q6.Which is the main reason why nominations are created?
 Damage caution
To secure an immediate payment of the policy SA by the insurer
 Risk avoidance
Protection of interest of policyholders
 All of the above

 

Q7.When is the Statement of Downgraded Investments submitted?
within 5 days, after the end of each quarter
within 7 days, after the end of each quarter
within 10 days, after the end of each quarter
within15 days, after the end of each quarter
within 30 days, after the end of each quarter

 

Q8.With respect to minimum mortality cover calculations, PT means __.
 Payment Tenure
 Policy Term
 Policy terminology
 Policy termination
 Profit terminology

 

Q9.A person can deal with the policy in whatever way he may desire during his lifetime and the consent of the __ is not required.
 Officers
 Agent
 Insurer
Policyholder
 Nominee

 

Q10.The existing system of the Ombudsman under the Redressal of Public Grievances Rules 1998, was perceived by –
 Insurance Ombudsman
 Complainant
 Collector
 Insured person
Policyholder

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