
Quiz 4

Quiz
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Other
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Professional Development
•
Hard

Splash M
Used 1+ times
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20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Agents must be licensed under the __________
IRDA Act
Insurance Act
Companies Act
Contract Act
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which scheme as per company Act, 1988 require the employers to fund the liability in respect of leave encashment facility
Group Super annuation
Group Term
Group Leave encashment
Group Saving Linked Insurance
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the benefits of group insurance
Provide benefit to employees
As an instrument of social welfare by govt.
To act as an incentives for employees
As a social security measure
All above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gratuity can be paid by employer in following ways
Make payment as and when it falls due out of current revenues (pay as you go)
Create internal reserve in the book equal to estimated liability and make payment from the fund when they fall due
Creating an gratuity fund and making payment from that fund
Set up a trust fund and purchase a group gratuity policy from insurance policy
All above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After the proposal becomes a policy, the agent has to ensure –
continuance of the policy through regular payment of renewal premiums
get nominations or assignments effected as required
help in prompt settlement of claims
All of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Find the dissimilar word
Group
Gratuity
Employers
Employees
Individual
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Premium on group policy is low because
Single policy issued for large group
Premium is received in one lump sum
Administrative cost in issuing policy is low
Adverse Selection is low
All Above
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