IC14 REGULATION OF INSURANCE BUSINESS -15

Q 1.Appeals before the National Commission can be made within ___ days.
 7
 15
 30
 45
 60

 

Q2.Insurance in India is regulated by Acts passed in which of these years?
 1939 and 1999
 1938 and 1999
 1938 and 1998
 1937 and 1998
 1936 and 1997

 

Q3.What is a Microinsurance agent generally paid?
 Fixed Salary
 Remuneration
 Commission
 Bonus
 Premium

 

Q4.___ has the power to issue regulations specifying the manner of receipt of premium by the insurer.
 LIC
 IRDA
 Consumer Forums
 National Commission
 Central Government

 

Q5.To whom shall the amount be payable which is secured by a policy?
 Survivors
 Assignee
 Assignor
 Shareholders
Policyholder

 

Q6.An appeal in National Commission can be made subject to deposit of ___ of the amount awarded or __ which ever is less.
 10% , Rs 35,000
 20% , Rs 35,000
 30% , Rs 35,000
 40% , Rs 35,000
 50% , Rs 35,000

 

Q7.Who holds a license to act as an insurance agent either for one life insurer or general insurer?
 Composite Insurance Agent
 Insurance Agent
 Insurance Broker
 Corporate Insurance Agent
 Re-insurance Agent

 

Q8.The policy administrative charges for a ULIP cannot be ___.
 more than 1% per annum
 more than 2% per annum
 more than 3% per annum
 more than 4% per annum
 more than 5% per annum

 

Q9.When the Insurance Act is silent about any particular feature of transfer of a policy then __ act will be applicable.
 Contract Act
 LIC Act
 IRDAI Act
 Transfer of Property act
 None of above

 

Q10.If the ULIP top-ups are not linked to sum assured, they will not be subject to any __.
 Financial underwriting norms
 TDS deductions
 Income tax deductions
 Penalties for late payments
 Service charges

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