Que. 1 : Q1) Insurance expenses can be primarily classified as_____________.
1. a) Direct expenses and indirect expenses
2. b) Fixed expenses and Variable expenses
3. c) Capital expenses and revenue expenses
4. d) Standard expenses and non-standard expenses
Que. 2 : Q2) Which of the following can be treated as group for the purpose of insurance contract? 1. A group of persons residing in a housing colony-where some of them are tenants. 2. A trade union of taxi drivers in a city, e.g. Mumbai 3. The members of a professional group, such as Institute of Chartered Accountants of India. 4. The parents of students of a school.
1. a) Options 1 and 4
2. b) Options 2 and 3
3. c) Options 1 and 2
4. d) Options 3 and 4
Que. 3 : Q3) Under which method, bonus is declared as x% of Bonus declared in the preceding policy year?
1. a) Simple Bonus
2. b) Compound bonus
3. c) Super-Compound bonus
4. d) Terminal bonus
Que. 4 : Q4) What means the period of five consecutive years from the date of commencement of the policy, during which period the proceeds of the discontinued policies cannot be paid by the insurer to the policyholder?
1. a) Grace period
2. b) Discontinuance period
3. c) Limited premium period
4. d) Lock-in-period
Que. 5 : Q5) Life Insurance in its modern form came to India from England in the year ___________.
1. a) 1616
2. b) 1717
3. c) 1818
4. d) 1919