IC23 APPLICATIONS OF LIFE INSURANCE – 05

Q1.Which of the following statement is true regarding endowment insurance policies?
 back policies are a part of endowment policies.
 Endowment policies are opted for by people who want periodical payments.
 Money
 Both (a) & (c)
 All the above

 

Q2.In risk management, risks with ____loss and the _____probability of occurring are handled first.
 highest, lowest
 lowest, highest
 greatest, highest
 highest, greatest
 Largest, smallest

 

Q3.Where is the headquarter of PFRDA located?
 Mumbai
 Hyderabad
 Ahmedabad
 United Bank of India
 Allahabad bank

 

Q4.As a rule of thumb, ___times the salary amount are decided as the adequate amount for insurance.
 5
 10
 15
 20
 25

 

Q5.NPS Trust was established under __
 Indian Trust Act 1881
 Indian Trust Act 1882
 Pension Act 1972
 Atal Pension Yojana
 Pradhan Mantri Swarn Jayanti Yojana

 

Q6.Which of the following factors one should consider while buying insurance?
 Lifestyle a person wants to provide for the family members.
 Expenses requirement of dependents
Inheritance a person wants to leave
 Both (a) & (c)
 All the above

 

Q7.___ is the process in which a ceding company cedes part of the risk to a reinsurer.
 Assurance
 Insurance
 Reinsurance
Reinsurance
 None of the above

 

Q8.Deferred compensation plan is suitable for ___
 Arranging for filing of tax returns
 Professional persons
 Low paid executives
 None of the above
 All the above

 

Q9.The allocation of units of health protection plans in listed equity should not be more than _.
 30%
 40%
 50%
 60%
 75%

 

Q10.Which of the following is not true regarding gratuity?
 It is governed by the payment of gratuity act of 1972.
 It is paid on retirement or death as a lumpsum amount.
A minimum qualifying service of ten years is necessary for being entitled to receive gratuity.
 All are true
 Only (a) & (c)

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