IC24 LEGAL ASPECTS OF LIFE ASSURANCE – 03

Q1.If the ombudsman’s recommendation is accepted by the complaint the insurer has to comply with it in _.
 a) 7 days
 b) 15 days
 c) 30 days
 d) 45 days

 

Q2.Which of the following is not correct about the Constitution of the Supreme Court?
 a) The Supreme Court of India is established under Article 124 of the Constitution of India.
 b) It came into existence on 30th January 1960.
 c) All supreme Court judges are appointed by the President of India.
 d) The supreme court of India is at the apex of the machinery for administrations of justice

 

Q3.Reinsurance arrangements for the insurance companies registered with IRDA are to be decided by the companies themselves on ____ basis.
 a) Annual
 b) Half-yearly
 c) Quarterly
 d) Monthly

 

Q4. Which is an important source of law and serve as guidelines to deal with incidents in the absence of law?
 a) Instance
 b) Judicial precedents
 c) Antecedent
 d) None of these

 

Q5.Which of the following is not consider as a permanent disability?
 a) entire sight of both eyes
 b) Leg fracture
 c) the amputation of both hands
 d) the amputation of both feet

 

Q6.In a property mortgage transaction, the person who transfers the property is known as ___.
 a) Transferor
 b) Transferee
 c) Mortgagor
 d) Mortgagee

 

Q7.Under Section 108 of the Indian Evidence Act, 1872 if a person has not been heard of for _____, there is a presumption which is rebuttable.
 a) 4 years
 b) 5 years
 c) 6 years
 d) 7 years

 

Q8.Which of the below is not true in relation to nomination?
 a) Nomination can be made at the time of effecting the policy or any time before the maturity of the policy
 b) There can be more than one nominee for a policy
 c) Nomination once made cannot be cancelled
 d) Nomination can be changed at any time by the policyholder

 

Q9.As per provisions of Section 45; an insurer cannot repudiate a claim after ____ on ground of misrepresentation unless until he can prove that the insured had deliberately suppressed some material facts.
 a) One year
 b) Two year
 c) Three year
 d) Four years
Q10.In property insurance, insurable interest needs to exist at the time of taking the policy as well as at the time of making the claim. Say whether True of False.
 a) True
 b) False

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