ic-33 new syllabus , question bank for the 12th chapter

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ic-33 new syllabus , question bank for the  12th chapter Powered By Docstoc
					                                   CHAPTER NO. 12
                               LAWS & CUSTOMER ADVICE

1)   Which insurance company was first established in India and in which year?
     a) East India in 1925
     b) Oriental in 1945
     c) LIC of India in 1956
     d) Oriental Life Insurance Company in 1818 *

2)   Why Life Insurance Act 1956 was enacted?
     a) To earn profit
     b) Peoples money for peoples welfare *
     c) To invest peoples money in stock market
     d) None of the above

3)   When IRDA was formed?
     a) In 1999 *
     b) In 1956
     c) In 1971
     d) In 2011

4)   What is the meaning of money laundering?
     a) To lend money
     b) Money going to laundry
     c) To introduce black money for payment of premiums *
     d) None of the above

5)   What is the meaning of KYC norms?
     a) Know your company
     b) Know your customer
     c) Know your cash
     d) Prove identification of the customer *

6)   How much cash premium can be deposited at one time?
     a) Rs. 5000
     b) Rs. 10000
     c) Rs. 25000
     d) Rs. 50000 *

7)   What is the meaning of MWP Act?
     a) Policy taken under Married Woman’s Property Act *
     b) Policy taken for ladies
     c) Policy taken for children
     d) None of the above

8)   When Consumer Protection Act was formed?
     a) In 2005
     b) In 1986 *
     c) In 2000
     d) In 2010
9)   What is the limit of Sum Assured at District Level Consumer forum?
     a) 10 Lacs
     b) 20 Lacs *
     c) 30 Lacs
     d) 40 Lacs

10) What is the limit of Consumer forum at State level?
    a) 25 Lacs
    b) 50 Lacs
    c) 75 Lacs
    d) 1 Crore *

11) How many companies were in existence at the time of formation of LIC?
    a) 185
    b) 215
    c) 245 *
    d) 500

12) Who can be the beneficiary under MWP Act Policy?
    a) Nominee
    b) Assignee
    c) Trust *
    d) None of the above

13) What is the purpose of IRDA 1999?
    a) To establish private companies
    b) To cheat customers
    c) To flourish money market
    d) To bring insurance companies under regulations *

14) What is the main act for insurance business?
    a) Insurance Act 1938 *
    b) IRDA
    c) Consumer Forum
    d) Consumer Protection Act

15) Which Regulation Act applies to issue Agent License under Insurance Act 1938?
    a) Clause 42 *
    b) Clause 420
    c) Clause 75
    d) Clause 750

				
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