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Question No 1 : The definition of an insurance agent it available in

Choice1 : The Contracts Act.

Choice2 : The Insurance Act,1938

Choice3 : The Life Insurance Corporation Act.

Choice4 : The IRDA Act.

Correct Answer : The Insurance Act,1938

Your Answer : The Life Insurance Corporation Act.

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Question No 2 : Which of the following laws effect the working of an Insurance agent.

Choice1 : The Insurance Act

Choice2 : The Contract Act

Choice3 : The Income Tax Act

Choice4 : All the three mentioned above

Correct Answer : All the three mentioned above

Your Answer : The Insurance Act p

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Question No 3 : Which of the following can a policyholder with a dispute with an insurer, approach?

Choice1 : IRDA

Choice2 : Ombudsman

Choice3 : Consumers Redressal Forum

Choice4 : Any of the above

Correct Answer : Any of the above

Your Answer : IRDA p

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Question No 4 : If a policy is under the MWP Act

Choice1 : It can be surrendered by the beneficiaries

Choice2 : It can be made paid up

Choice3 : A loan can be taken up the trustees

Choice4 : It cab be assigned

Correct Answer : A loan can be taken up the trustees

Your Answer : It can be surrendered by the beneficiaries p

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Question No 5 : Advertisements include

Choice1 : Hoardings on highways

Choice2 : Flashings neon signs on buildings and bridges.

Choice3 : Messages in business cards

Choice4 : All the three above.

Correct Answer : All the three above.

Your Answer : All the three above. p

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Question No 6 : The Insurance Association

Choice1 : Conducts examinations for agents

Choice2 : Is constituted by the IRDA Act.

Choice3 : Is constituted by the Insurance Act.

Choice4 : Is none of the above

Correct Answer : Is constituted by the Insurance Act.

Your Answer : Is constituted by the IRDA Act. p

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Question No 7 : Who can make a proposal?

Choice1 : A person who is not less than 18 Years old.

Choice2 : A licenced broker

Choice3 : The agent of the insurer

Choice4 : Any one of the three above

Correct Answer : A person who is not less than 18 Years old.

Your Answer : A person who is not less than 18 Years old. p

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Question No 8 : If a policy is under WMP Act. The policyholder is

Choice1 : The trustee

Choice2 : The life insured

Choice3 : The administrator

Choice4 : The beneflociaries

Correct Answer : The trustee

Your Answer : The trustee p

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Question No 9 : The licence for an insurance agent is given by the

Choice1 : Government of India

Choice2 : Insurer

Choice3 : IRDA

Choice4 : Controller of Insurance

Correct Answer : IRDA

Your Answer : IRDA p

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Question No 10 : The Insurance Act deals with

Choice1 : Registration on insurers

Choice2 : Investments of insurance funds

Choice3 : Licensing of agents

Choice4 : All of the above

Correct Answer : All of the above

Your Answer : All of the above p

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Question No 11 : How does Automatic Advance of Premium differ from Extended Term Assurance?

Choice1 : Likelihood of terminating without any cash payment to the policyholder

Choice2 : In the amount of SA payable of death

Choice3 : In the duration for which the policy will remain if force

Choice4 : In the case of reviving the policy on original terms,

Correct Answer : In the duration for which the policy will remain if force

Your Answer : In the amount of SA payable of death p

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Question No 12 : The principal Act governing Life Insurance Business is

Choice1 : LIC Act, 1956.

Choice2 : Companies Act. 1956.

Choice3 : Insurance Act. 1938.

Choice4 : General Insurance Business (Nationalization) Act, 1972.

Correct Answer : Insurance Act. 1938.

Your Answer : Insurance Act. 1938. p

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Question No 13 : The Act passed to regulate promote and orderly growth of Insurance Industry is

Choice1 : LIC Act, 1956.

Choice2 : GIC Act, 1972

Choice3 : Insurance Act, 1938

Choice4 : IRDA Act, 1999.

Correct Answer : IRDA Act, 1999.

Your Answer : IRDA Act, 1999. p

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Question No 14 : Assessees ordinarily enjoy rebate on tax payable for making savings under various instruments including Life Insurance.

Choice1 : Section 10(10D).

Choice2 : Section 10.

Choice3 : Section 37.

Choice4 : Section 80c.

Correct Answer : Section 80c.

Your Answer : Section 80c. p

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Question No 15 : State which one of the following statements is correct?

Choice1 : The term for life micro insurance policies is limited

Choice2 : A person aged 45 can be given a life micro insurance policy

Choice3 : Both the statements above are correct

Choice4 : Both the statements above are wrong

Correct Answer : Both the statements above are correct

Your Answer : A person aged 45 can be given a life micro insurance policy p
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