Regulations on Conduct of Business MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Regulations on Conduct of Business, a fundamental topic in the field of IC 14 Regulations of Insurance Business. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Regulations on Conduct of Business MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Regulations on Conduct of Business mcq questions that explore various aspects of Regulations on Conduct of Business problems. Each MCQ is crafted to challenge your understanding of Regulations on Conduct of Business principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC 14 Regulations of Insurance Business tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Regulations on Conduct of Business MCQs are your pathway to success in mastering this essential IC 14 Regulations of Insurance Business topic.

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Regulations on Conduct of Business MCQs | Page 28 of 32

Discover more Topics under IC 14 Regulations of Insurance Business

Discuss
Answer: (d).Micro-insurance products and agents Explanation:IRDA Micro-Insurance Regulations 2005 regulate micro-insurance products and agents.
Discuss
Answer: (d).Dependent upon the performance of the fund Explanation:The returns from ULIPs are dependent upon the performance of the fund chosen by the policyholder.
Q273.
What represents the policyholder's investment in a Unit Linked Insurance Plan (ULIP)?
Discuss
Answer: (b).Net Asset Value (NAV) Explanation:The policyholder's investment in a ULIP is denoted in the form of units and represented by the Net Asset Value (NAV).
Discuss
Answer: (c).Either with single premiums or regular premiums Explanation:An investor can purchase a ULIP policy with either a single premium or regular premiums.
Q275.
What do the guidelines issued by IRDA affect regarding ULIP products?
Discuss
Answer: (d).All of the above Explanation:Guidelines issued by IRDA affect various areas related to ULIP products such as product design, market conduct, disclosures, and advertisements.
Q276.
What is the minimum policy term for ULIP products?
Discuss
Answer: (c).5 years Explanation:The minimum policy term for ULIP products is 5 years.
Q277.
What is the difference between the NAV at the time of entry and exit called?
Discuss
Answer: (c).Bid-offer spread Explanation:The difference in NAV at the time of entry (offer price) and exit (bid price) is known as bid-offer spread.
Q278.
During which period are no residuary payments made on lapsed/surrendered/discontinued ULIP policies?
Discuss
Answer: (c).Lock-in period Explanation:During the lock-in period, no residuary payments on policies that have lapsed/surrendered/discontinued can be made. The lock-in period also applies to top-up premiums.
Discuss
Answer: (b).Avoid initial allocation charges Explanation:Top-up premiums allow ULIP policyholders to increase their annual contribution while avoiding the initial allocation charges.
Discuss
Answer: (c).Placement, layering, integration Explanation:The three stages of money laundering are placement, layering, and integration.