Legal Aspects of Insurance - 1

• Duplicate license can be issued on payment a fee of ________.
  Rs. 50.00
• Where can we file an appeal against the order of the National commission?
  Supreme court
• Various funds created to pay compensation can be listed as:-
  Environment fund , War injuries fund , Personal injuries fund
• Mr.Naidu made a complaint to consumer forum regarding manufacturing defect in "Indica" car. He should receive replacement of defected parts within ________ from the date of notice.
  90 days
• Intermediary between the Insure & Insured are:-
  Brokers , Consultant
• The provision of consumer protection act is in addition to any other law in the force.
  True
• Claims in favor of residents in countries in Bilateral Group should be settled in foreign currency.
  False
• ________ distinguishes Insurance contract from contract of indemnity and wagering agreement .
  Insurance interest
• The Complaints or the allegations with the consumer court are of the following nature:-
  Unfair trade practice , Defect in goods , Excess price charged
• What should a Complaint to consumer court contain?
  Name of complainant and opposite party , Facts of complaints , Documents in support of allegation
• What was Insurance Act 1938 and Insurance Rule 1939 enacted for ?
  To safeguard the interest of policy holders , To prevent the unhealthy competition among insurance companies
• All contracts of insurance are:-
  Promise to indemnify the loss , Against the payment of premium
• A mishap happened due to release of chlorine gas in air from a factory. There were number of claims against the owner of the factory. The final Authority for settlement of claims is:-
  Collector
• A limit of third party property damage is ________.
  Rs. 6,000.00
• If huts of poor families destroyed by fire, the compensation payable is Rs.________ for huts.
  Rs. 1,000.00
• Every insurer who begins to carry an Insurance Business has obligation to do Rural Sector Business ________% in the first financial year.
  5