Que. 1 : Q1) Under which group business, the following group products shall be permitted for employer-employee groups: a) Fund based Group Insurance Products b) Single premium Group Term Insurance c) Group immediate annuity products
1. a) Employer-Employee Group products
2. b) Non-Employer-Employee Group products
Que. 2 : Q2) ___________, if any, declared shall become payable on the specified events agreed in the policy at the end of the term of the policy.
1. a) Terminal Bonus
2. b) Interim bonus
3. c) Regular bonus
4. d) None of these
Que. 3 : Q3) Which is another non-proportional reinsurance arrangement where the reinsurer will pay all or a portion of claims in excess of a stipulated amount that is a multiple of an insurer’s expected total annual claims?
1. a) Surplus arrangement
2. b) Catastrophe cover
3. c) Quota Share Arrangement
4. d) Stop loss Reinsurance
Que. 4 : Q4) The Gratuity limit as per Section 4(3) has been raised from 3.5 lakhs to ____________ with effect from 24th May,2010.
1. a) 5 lakhs
2. b) 10 lakhs
3. c) 15 lakhs
4. d) 25 lakhs
Que. 5 : Q5) Which of the following is correct?
1. a) MCR = SCR + Variation arising from the fund not being equal to the AL
2. b) MCR = SCR – Variation arising from the fund not being equal to the AL
3. c) MCR = SCR * Variation arising from the fund not being equal to the AL
4. d) MCR = SCR / Variation arising from the fund not being equal to the AL