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) |