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IC02 PRACTICE OF LIFE INSURANCE – 02

Que. 1 : Q1) Insurance is a mechanism to reduce impact of adverse events on __________.

   1.  a) Value generating assets

   2.  b) Non value generating assets

   3.  c) Risks

   4.  d) Fixed assets

Que. 2 : Q2) What kind of payment mode involves less administrative work?

   1.  a) Monthly mode

   2.  b) Yearly mode

   3.  c) Half Yearly mode

   4.  d) Quarterly mode

Que. 3 : Q3) Under Married Woman’s Property Act 1874, a Life Insurance Policy can taken out by

   1.  a) Married Men

   2.  b) Married Women

   3.  c) Both A and B

   4.  d) Divorced Women

Que. 4 : Q4) Which of the following terms is dissimilar to the other four in the context of insurable interest in life insurance?

   1.  a) Employer

   2.  b) Creditor

   3.  c) Surety

   4.  d) Debtor

Que. 5 : Q5) Which of the foil statement(s) is/are correct? 1. Underwriting is a process which ensures that all insured share the same risk 2. The amount of bonus that vests is the same for all policies issued by an insurer 3. In an immediate annuity policy the annuity payments begins within the first year of policy

   1.  a) All statements are correct

   2.  b) All statements are incorrect

   3.  c) Statement 1 and 2 are correct

   4.  d) Statement 2 and 3 are correct