962. In traditional life insurance policies, the investment risk is borne by the _________, while in unit linked plans, the investment risk is borne by the _________.

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Policyholder, unitholder
Insurance company, unitholder
Insurance company, insurance company
Policyholder, insurer
✅ The correct answer is B.
In traditional life insurance policies, the investment risk is borne by the insurance company, while in unit linked plans, the investment risk is borne by the unitholder.

969. State the incorrect sentence.

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Free look period enables the insured to return the policy within 30 days of receipt of the policy bond
If the policy is returned as above, no premium is refunded by the insurer
PMLA is not applicable to life insurance
All of the above
✅ The correct answer is D.
All the statements are incorrect.
Free look period does not allow the insured to return the policy within 30 days of receipt of the policy bond, If the policy is returned as above, premium is refunded by the insurer and PMLA is applicable to life insurance.

946. An estimation of relationship between one independent variable and dependent variable is known as

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simple regression
Two way regression
One variable series
multiple regression
✅ The correct answer is A.
An estimation of relationship between one independent variable and dependent variable is known as simple regression. Simple linear regression is a statistical method that allows us to summarize and study relationships between two continuous (quantitative) variables.

942. Book value is_______________.

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the same as market value
a more accurate valuation technique than the dividend models
the accounting value of the firm as reflected in the financial statements
the same as liquidation value
✅ The correct answer is C.
Book value is the accounting value of the firm as reflected in the financial statements. Book value is also the net asset value of a company calculated as total assets minus intangible assets (patents, goodwill) and liabilities.

85. Purchase of fixed assets on credit is originally recorded in

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Purchases book
Ledger
Cash book
Journal Proper
✅ The correct answer is D.
Purchase of fixed assets on credit is originally recorded in Journal Proper. On the assumption that the asset was purchased on credit, the initial entry is a credit to accounts payable and a debit to the applicable fixed asset account for the cost of the asset.

938. ‐‐‐‐‐‐‐‐‐ card is read only mode.

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Contact smart card
Contactless smart card
Proximity smart card
Both B and C
✅ The correct answer is C.
Proximity smart card is read only mode. A proximity card or prox card is a “contactless” smart card which can be read without inserting it into a reader device, as required by earlier magnetic stripe cards such as credit cards and “contact” type smart cards.

937. Which is the correct statement?

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Agent is primary underwriter as also field underwriter
Numerical method of underwriting is by far the most objective method
Risk in substandard lives is likely to be higher than standard lives on account of increased mortality risk
All of the above
✅ The correct answer is D.
All the statements are correct.
Agent is primary underwriter as also field underwriter, Numerical method of underwriting is by far the most objective method and Risk in substandard lives is likely to be higher than standard lives on account of increased mortality risk.