IC23 APPLICATIONS OF LIFE INSURANCE – 03

Q1.A gratuity fund is maintained in India _______.
Through initial and annual contributions made by the employer.
 Is an irrevocable trust fund.
 By buying an insurance plan
 Only (a) & (b)
 All the above

 

Q2.Human life value is the __ value of your ___ earnings.
 present, future
 future, present
 total, monthly
 total, annual
 net, gross

 

Q3.Which among the following is/are the advantages of health insurance to society? (i) Mobilisation of resources (ii) Substitute for Government provided social security (iii) Investment expertise
 Broker
 Only (ii) & (iii)
 Only (iii)
 None of these
 All the above
Q4.A ___ is the one who receives the property not been assigned to anyone
 Deceased legatee
 Universal legatee
 Testator legatee
 six years
 seven years

 

Q5.Particular risks are caused by ____.
 Inflation
 Hurricanes
 Robbery
 income and output
 Both (b) & (c)

 

Q6.Who among the following is/are not interested in the financial information of a company?
investors 
Taxation authorities
 Shareholders
 Owners
 Ambassador of India

 

Q7.In whose favor the insurer can settle the claim on the death of the life assured if the nominee is minor and there is no appointee appointed or the appointee is incapable to act?
 It cannot be effected till the policy is issued.
 Spouse
 Legal heirs
 If it is against the insurer, it will be effective if it is registered by the insurer on their records.
 None of the above

 

Q8.Which of the following benefits are covered under CGHS?
 Medical care
 Home visits
 Free medicine
 Only (a) & (b)
 All the above

 

Q9.___ is based on a mutual contract between two parties where one promises the other to compensate for the loss against payment of premiums.
 Risk
 Indemnity
Underwriting
 Testator
 Probate

 

Q10.Benefits under section 80C of the Income tax act are available to ___.
 Individuals
 Companies
 Partnership firms
 HUF
 Only (a) & (d)

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