Q. What do the IRDA (Manner of receipt of premium) Regulations prescribe?

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Q. When does the insurer assume risk according to Section 64VB of the Insurance Act 1938?

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Q. What happens to a general insurance policy if the remittance made by the proposer or policyholder is not realized by the insurer?

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Q. What determines the continuance of risk in a life insurance policy?

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Q. Under what circumstances do insurers not have 'non-receipt of premium or non-realization of cheque' as a defence against payment of compensation to the third party?

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Q. What provision allows relaxation to the provisions of section 64 VB (I) for certain categories of insurance?

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Q. What term is related to insurance characterized by low premium and designed to serve low-income group people?

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Q. In which country did the concept of micro-insurance originate?

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Q. What is the maximum remuneration limit for a micro insurance agent for non-life insurance business?

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Q. Unit Linked Insurance Plans (ULIPs) are _______-linked insurance plans.

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Q. Where data for the performance of a fund of the ULIP is not available for at least one calendar year, past performance _________________.

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Q. The maximum loan amount that can be sanctioned for any ULIP policy having more than 60% of its funds invested in equities is ______ of the policy’s surrender value.

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Q. Micro-insurance is based on the concept of ________.

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Q. Who conceived the idea of Grameen Bank in 1974?

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Q. For life micro-insurance products, what should be the minimum number of members comprising a group?

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Q. Micro-insurance products need prior approval of the authority under the “File & Use” procedure and every such product shall prominently carry the caption “______________”.

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Q. In the case of discontinued linked insurance policies, the policyholder has an option to either _______ the policy within the terms and conditions governing the policy or ________ the entire funds from the underlying ULIP funds with no risk cover.

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Q. In the case of regular premium ULIP policies, most insurance companies allow the policyholders to pay premiums on a _____________ basis.

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Q. Madhav is going to pay Rs. 50,000 as premium for a ULIP. According to the terms of the ULIP, 60% of the premium will be allocated to the investment chosen by Madhav. Madhav has decided to invest in the balance fund, which has a Net Asset Value of Rs 12. The number of units allocated to Madhav will be ____________.

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Q. Who is responsible for providing appropriate training to insurance agents/intermediaries before they are authorized to sell Unit Linked Insurance products?

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