English IC33 New Syllabus Paper 10

Que. 1 : Death benefit in Keyman Insurance is____

1.  Tax will be paid by Keyman’s family.   2.  Taxable for company.   3.  No tax (Not taxable)   4.  Tax will be paid by employee.

Que. 2 : In a MWP policy the beneficiaries under the plan, other than wife can be

1.  Ex- wife   2.  Siblings   3.  Children   4.  Parents

Que. 3 : Under MWP act 1874 a policy holder is _

1.  The Beneficiaries   2.  The life Assured   3.  The administrator   4.  The Trustee

Que. 4 : 3. MWP Act 1874, provides that a life Insurance policy that has been taken out by_

1.  Married Son   2.  Married Woman   3.  Married man   4.  Married Daughter

Que. 5 : As per MWP Act 1874, policy once registered under the act, can be controlled by __

1.  The creditors   2.  Life to be insured   3.  The Court   4.  None of the above

Que. 6 : Rahul is married to Ranjana and have daughter Ruchi, aged 14 yrs. who can become trustee as per MWP Act 1874

1.  Ranjana & Ruchi   2.  Ranjana, wife of Rahul   3.  Both the above   4.  None of the above

Que. 7 : Which of the following is true in connection with MWP Act 1874,

1.  Life insurance policy can be surrendered   2.  Life insurance policy can have nominees   3.  Life insurance policy can be assigned   4.  None of the above

Que. 8 : As per MWP Act 1874, Life insurance policy can be taken for the benefit of ____

1.  Brother   2.  Sister   3.  Parents   4.  Wife & Children

Que. 9 : Which of the following is true in connection with MWP Act 1874?

1.  Nomination & Assignment cannot be done   2.  Grand Parents can become proposer for the benefit of Grand Children   3.  Rajiv, married man can become beneficiary in life insurance policy   4.  None of the above

Que. 10 : If the employer has insurable interest in the life of an employee, what kind of policy is this

1.  Partnership Insurance   2.  Surety Insurance   3.  Key-Man Insurance   4.  Debtor Insurance

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