IC14 REGULATION OF INSURANCE BUSINESS -16

Q1.On receipt of the survey report, the insurer shall within a period of _ days offer a settlement of claim to the insured.
 5
 10
 15
 30
 45

 

Q2.What does the IRDAI Act promote?
It promotes the growth of the Insurance and Reinsurance business
It promotes the growth of the Life and Non life insurance business
It promotes the growth of General insurance and theft insurance
It promotes the growth of Life insurance and Reassurance
It promotes the growth of Corporate insurance & Reassurance

 

Q3.Who will refer the dispute for mediation or conciliation, as an encouragement to ADR (Alternate Dispute Resolution)?
 The District Court judge
 The Consumer Court judge
 Consumer councils
 Grievance Redressal Authorities (GRA)
 Consumer commission

 

Q4.On what basis is the policy issued for workmen’s compensation?
 Declaration policy
 Fidelity Guarantee
 Adjustable premium
 Sum assured
 Agreement

 

Q5.The returns of a ULIP are tax-free if the policy duration is for at least _ years in Germany.
 5
 8
 10
 12
 15

 

Q6.Does a company have to be formed under which act to a granted an INSURANCE BROKERS license to them?
 IRDAI Act 1999
 The Insurance act 1938
 The Companies act 1956
 The Indian Contract Act 1872
 General insurance business (nationalization) act 1972

 

Q7.Assignment and transfer of policies were amended under Section ___ of the Insurance Act.
 37
 38
 39
 40
 41

 

Q8.In __ policy, risk can be assumed if at least the premium calculated on 75% of the sum assured has been received before the assumption of the risk.
 Fidelity Guarantee Insurance
 Marine Insurance
 Declaration insurance
 Policies issued on the basis of adjustable premium
 All of the above

 

Q9.The full form of ‘FGD’ is __.
 Focus Group Discussion
 Family Group Discussion
 Finance Group Discussion
 Fiscal Group Discussion
 Future Group Discussion

 

Q10.Who has recommended that the Grievance Redressal Authorities should be constituted to deal with disputes between the insurer and the intermediaries?
 IRDAI
 Law Commission
 Ombudsman
 Government
 Administrator

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