Licentiate Exam IC23- APPLICATIONS OF LIFE INSURANCE

Application Of Life Insurance -Licentiate Exam IC23 mock test series- Click Here>>

Licentiate Exam IC23 Questions.

Q1.____is the direct insurance company that transfers the risk.
 Cede
 Cedent
 Reinsurer
 Insurer
 insured

 

Q2.Need for asset accumulation arises at which of the following stage?
 pre retirement stage
post-retirement stage
 initial stage
 prime earning stage
 Mid earning stage

 

Q3.Which of the following types of investment is/are haram under Islamic finance?
 products based on animal testing
production of greenhouse gases
 health and safety breaches
 Gambling is forbidden
 None of the above

 

Q4.Compulsory coverage for retirement plans in India extends to __.
Self-employed
 Businessmen
 Salaried employees
 Students
 Professionals

 

Q5.Which of the following areas are covered under the administration department of a Takaful Company?
 Branch operations
 General administration
 Personnel training
 five
 six
Q6.For life insurance, the insurable interest must exist _____.
 before the policy was issued.
 after the policy was issued
 at the time policy was issued
 Insurable interest does not exist in life interest.
 Anytime

 

Q7.Centralized Government Health Insurance Scheme
Centralized Government Health Insurance Scheme
 Central Government Health Insurance Scheme
 Central Government Human Insurable Scheme
 Core Government Health Insurance Scheme
 Core Government Human Insurance Scheme

 

Q8.The maximum annual contribution that an employer can make to the pension fund and the provident fund is restricted by Income Tax Provisions to ___ of the annual salary.
 25%
 26%
 27%
 30%
 35%

 

Q9.Which of the following is not a rider?
 Critical illness
 Untimely death
 permanent disability
 All the above
 None of the above

 

Q10._____ is a type of excess of loss reinsurance.
 Surplus reinsurance
 Catastrophe reinsurance
 Quota Share reinsurance
 Small share reinsurance
 All the above

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