Q. What is the role of the declaration in the Proposal Form regarding the principle of utmost good faith?

View solution

Q. What information does the Proposal Form typically collect from the proposer?

View solution

Q. What is the purpose of the agent's recommendations in the Proposal Form?

View solution

Q. What is the significance of the declaration in the Proposal Form for the insured and the insurer?

View solution

Q. Which of the following is not relevant in respect of a Proposal form?

View solution

Q. What is Money Laundering?

View solution

Q. The Prevention of Money Laundering Act (PMLA), 2002:

View solution

Q. Purpose of PMLA (Prevention of Money Laundering Act):

View solution

Q. What are Anti-Money Laundering (AML) guidelines?:

View solution

Q. Importance of Anti-Money Laundering (AML) guidelines:

View solution

Q. KYC (Know Your Customer) norms:

View solution

Q. What is the primary objective of KYC (Know Your Customer) guidelines for businesses, including insurers?

View solution

Q. Which of the following is NOT a common document used for Proof of Identity in KYC procedures?

View solution

Q. What is the significance of Age Proof documents in the insurance industry, especially for personal lines of insurance like Life and Health?

View solution

Q. Which of the following is NOT considered a standard age proof document in insurance?

View solution

Q. What is a non-standard age proof document in insurance when standard documents are not available?

View solution

Q. What is the primary purpose of the Declaration included in a Proposal Form?

View solution

Q. Why is maintaining records of transactions prescribed under the Prevention of Money Laundering Act important for financial institutions and intermediaries, including insurance companies?

View solution

Q. What is the objective of the Prevention of Money Laundering Act (PMLA), 2002 in India?

View solution

Q. What are the Anti-Money Laundering (AML) guidelines issued by IRDAI primarily concerned with?

View solution