Que. 1 : Which was the first Act to regulate life insurance industry in India?
1. Life Insurance Companies Act, 1912
2. Insurance Act, 1938
3. IRDA Act, 1999
4. LIC Act, 1956
Que. 2 : Which of the below statement is correct regarding household insurance ?
1. A Comprehensive policy that tends to offer coverage to most perils ; May be purchased as a less expensive alternative to a named peril policy
2. A named peril policy may be purchased as a less expensive alternative to a comprehensive coverage policy that tends to offer coverage to most perils
3. A named peril policy and A Comprehensive policy comes at same price
4. All of the above
Que. 3 : Ashis is not getting a death claim of his father’s life insurance. He is has submitted the claim documents before 1 years 8 months. The Claim amount is 18 lacs. Now where should he complain against the insurance company ?
2. Distinct Level
3. State Level
4. National Level
Que. 4 : Four major areas of unethical behaviour that have been identified in the insurance sector are as follows
1. Misrepresentation, Illustrations, Recharge, Advice
2. Misrepresentation, Illustrations, Replacement, Action
3. Miscalculation, Illustrations, Replacement, Advice
4. Misrepresentation, Illustrations, Replacement, Advice
Que. 5 : Which of the following entity is exempt from the purview of the IRDA ?
1. GIC of India
2. LIC of India
3. Postal Life Insurance
4. None of the above
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