Q. In simple terms, what does ‘a void ab initio policy’ mean?

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Q. Which is not a negotiable instrument?

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Q. In which year was the Financial Intelligence Unit (FIU) set up in Delhi?

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Q. KYC norms include which of the below?

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Q. Records of transactions reported to the FIU have to be retained for a maximum of how many years?

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Q. Out of the below, which is an example of a low-risk customer?

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Q. Financial Action Task Force (FATF) was set up in ___________.

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Q. From the below options, which is one of the stages of money laundering?

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Q. Money Laundering refers to ________________.

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Q. What is the lock-in period for all Unit Linked Products?

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Q. For single premium contracts under ULIPs, the minimum sum assured for the age at entry of below 45 years is __________ of the single premium paid.

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

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

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

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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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