Q. What is the purpose of foreign currency accounts maintained by insurers outside India?

View solution

Q. Under what circumstances can insurers make investments abroad without prior approval from the Reserve Bank of India?

View solution

Q. What is micro-insurance?

View solution

Q. When was the concept of micro-financing first experimented?

View solution

Q. What do Unit Linked Insurance Plans (ULIPs) offer?

View solution

Q. What do IRDA Micro-Insurance Regulations 2005 regulate?

View solution

Q. How are the returns from Unit Linked Insurance Plans (ULIPs) determined?

View solution

Q. What represents the policyholder's investment in a Unit Linked Insurance Plan (ULIP)?

View solution

Q. How can an investor purchase a ULIP policy?

View solution

Q. What do the guidelines issued by IRDA affect regarding ULIP products?

View solution

Q. What is the minimum policy term for ULIP products?

View solution

Q. What is the difference between the NAV at the time of entry and exit called?

View solution

Q. During which period are no residuary payments made on lapsed/surrendered/discontinued ULIP policies?

View solution

Q. What do top-up premiums allow ULIP policyholders to do?

View solution

Q. What are the three stages of money laundering?

View solution

Q. What is the purpose of the Financial Action Task Force (FATF)?

View solution

Q. What is the primary aim of the KYC process?

View solution

Q. Who bears the responsibility for implementing a robust program against money laundering and terrorist financing in insurance companies?

View solution

Q. How long are records of transactions reported to the Financial Intelligence Unit (FIU) required to be retained?

View solution

Q. What is the general trend of insurance premium with respect to risk?

View solution