IC23 APPLICATIONS OF LIFE INSURANCE - 22
Que. 1 : Q1) Hospital Cash Benefit is payable for hospitalization resulting from accident or sickness. The HCB grows at ______ for each year subject to a maximum limit of 1.5 times the initial daily benefit opted for.
1. a) 5%
2. b) 10%
3. c) 15%
4. d) 20%
Que. 2 : Q2) What cannot be claimed as a deduction under Section 80C?
1. a) Life insurance premium on the life of self, spouse or child or a member of HUF subject to a maximum of 10 per cent of sum assured
2. b) Contributions towards statutory provident fund and recognised provident fund
3. c) Contribution towards an approved superannuation fund
4. d) Payment of employee insurance premiums
Que. 3 : Q3) Which of the following are financial needs of Prime earning stage?
1. a) Maintain the standard of living
2. b) Health care needs for self and spouse
3. c) Educational needs of children
4. d) Marriage of children
Que. 4 : Q4) In which stages of life, earnings increase but expenses also rise nearly as fast as one's income?
1. a) Initial Stage
2. b) Pre-retirement stage
3. c) Prime earning stage
4. d) Post-retirement stage
Que. 5 : Q5) Which of the following requires that insurers must operate on a co-operative basis and there is no detailed framework as to how co-operative insurance is to be conducted?
1. a) Central bank of Bahrain
2. b) The Financial Services Authority
3. c) The Monetary Authority of Singapore
4. d) The Supervisory authority Saudi Arabian Monetary Agency