Insurance - Study Mode

[#471] The application document used for making the proposal is commonly known as the
Correct Answer

(B) Proposal form

Explanation

Solution: The application document used for making the proposal is commonly known as the 'proposal form'.

[#472] Money laundering is the process of bringing _________ money into an economy by hiding its _________ origin so that it appears to be legally acquired.
Correct Answer

(A) Illegal, illegal

Explanation

Solution: Money laundering is the process of bringing illegal money into an economy by hiding its illegal origin so that it appears to be legally acquired.

[#473] In case the policyholder is not satisfied with the policy, he / she can return the policy within the free-look period i.e. within _________of receiving the policy document.
Correct Answer

(D) 15 days

Explanation

Solution: In case the policyholder is not satisfied with the policy, he / she can return the policy within the free-look period i.e. within 15 days of receiving the policy document.

[#474] Which of the below statement is correct with regards to a policy returned by a policyholder during the free look period?
Correct Answer

(C) The insurance company will refund the premium after adjusting for proportionate risk premium for the period on cover, medical examination expenses and stamp duty charges

Explanation

Solution: The insurance company will refund the premium after adjusting for proportionate risk premium for the period on cover, medical examination expenses and stamp duty charges.

[#475] Which of the below is not a valid address proof?
Correct Answer

(B) Voter ID Card

Explanation

Solution: Voter ID Card is not a valid address proof.