Mutual Fund,Venture Capital,Life Insurance Policies and AIFS MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Mutual Fund,Venture Capital,Life Insurance Policies and AIFS, a fundamental topic in the field of IC 89 Management Accounting. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Mutual Fund,Venture Capital,Life Insurance Policies and AIFS 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 Mutual Fund,Venture Capital,Life Insurance Policies and AIFS mcq questions that explore various aspects of Mutual Fund,Venture Capital,Life Insurance Policies and AIFS problems. Each MCQ is crafted to challenge your understanding of Mutual Fund,Venture Capital,Life Insurance Policies and AIFS principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC 89 Management Accounting tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Mutual Fund,Venture Capital,Life Insurance Policies and AIFS MCQs are your pathway to success in mastering this essential IC 89 Management Accounting topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Mutual Fund,Venture Capital,Life Insurance Policies and AIFS. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Mutual Fund,Venture Capital,Life Insurance Policies and AIFS knowledge to the test? Let's get started with our carefully curated MCQs!

Mutual Fund,Venture Capital,Life Insurance Policies and AIFS MCQs | Page 15 of 18

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Q141.
What is the lock-in period for tax-saving Mutual Fund schemes?
Discuss
Answer: (b).3 years Explanation:Tax-saving Mutual Fund schemes come with a 3-year lock-in period.
Q142.
What is the lock-in period for ULIPs?
Discuss
Answer: (a).5 - 20 years Explanation:ULIPs come with a 5 - 20 year lock-in period.
Q143.
What is the tax benefit regarding ULIPs?
Discuss
Answer: (a).Tax-free returns Explanation:Returns from ULIPs are tax-free.
Discuss
Answer: (b).Increasing the lock-in period from three years to five years Explanation:The lock-in period for ULIPs has been increased from three years to five years to reflect the long-term protection function of the policy.
Discuss
Answer: (c).Limited premium paying term ULIPs must have a premium paying term of at least five years. Explanation:All limited premium paying term unit-linked insurance products, other than single premium products, must have a premium paying term of at least five years.
Discuss
Answer: (d).Insurers must provide all relevant information about various charges for each policy year. Explanation:Insurers must provide the prospect/policyholder all relevant information about various charges for each policy year.
Discuss
Answer: (c).Additional payments are treated as single premiums for the purpose of insurance cover. Explanation:Any additional payment shall be treated as a single premium for the purpose of insurance cover.
Q148.
What aspect of ULIPs has a cap on charges imposed from the 5th year onwards?
Discuss
Answer: (d).Charge structure Explanation:A cap on charges has been imposed from the 5th year onwards to smoothen the charge structure for the policyholder.
Discuss
Answer: (b).Order the insurer to refund discontinuance charges. Explanation:IRDA can order the refund of discontinuance charges if found excessive on enquiry.
Discuss
Answer: (a).As a percentage of fund value and premium Explanation:Discontinuance charges are capped as a percentage of fund value and premium and also as an absolute value.