Insurance - Study Mode

[#246] Pick out the correct statement.
Correct Answer

(D) None of the above
(E) Personal history and family history of a proposer are equally important
(K) In the above case full claim for the original sum assured will be paid after deducting the unpaid premium
(O) Splitting of a policy into two or more is allowed as an alteration

Explanation

Solution: All the statements are incorrect. Educational qualification for becoming an agent in all circumstances is different, Educational qualification for becoming an agent in all cases is not 10th STD pass and The minimum educational qualification for becoming an agent of an insurer is class 10th pass.

[#247] Fiscal policy is related with which of the following?
Correct Answer

(A) Public Revenue and Expenditure

Explanation

Solution: Fiscal policy is related with Public Revenue and Expenditure. In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to monitor and influence a nation's economy.

[#248] Which of the following organization decides Repo Rate?
Correct Answer

(D) RBI

Explanation

Solution: RBI decides Repo Rate. Repo rate is the rate at which RBI lends to its clients generally against government securities. Reduction in repo rate helps the commercial banks to get money at a cheaper rate and increase in repo rate discourages the commercial banks to get money as the rate increases and becomes expensive.

[#249] What are true about IMF?
Correct Answer

It's headquarter is situated at Washington, D.C

Explanation

Solution: All the above are true about IMF. It's headquarter is situated at Washington, D.C, It works to foster economic stability and global growth by providing policy, advice and financing to members, It negotiates conditions on lending and loans under their policy and It oversees the fixed exchange rate arrangements between countries.

[#250] Which bank is the sponsor of Prathama Gramin Bank?
Correct Answer

(D) Syndicate Bank

Explanation

Solution: Prathama Bank is the first Regional Rural Bank of India, established on 2nd October, 1975, sponsored by Syndicate Bank, with its Head Office at Moradabad in accordance with Regional Rural Bank Ordinance 1975 issued on 26th September, 1975 (Replaced later by Regional Rural Bank Act, 1976(2) of 1976 of Government of India).