Administrator, Author at GetMCQs

1483. Why does an officer conduct special enquiry in the case of death claim which arose after 4 years?

On suspicion of suppression of facts

As a precaution

As a routine

For large sum assured

✅ The correct answer is A.
An officer can conduct special enquiry in the case of death claim on suspicion of suppression of facts.

1470. Horizontal filing is also called as _______.

box filing

flat filing

open filing

pillar filing

✅ The correct answer is B.
Horizontal filing is also called as flat filing. The horizontal filing system is a modern type of filing where the documents or letters are chronologically placed in folders one upon another in a horizontal or flat position.

1471. Which one is not an encryption technique?

RSA

DES

AES

FTP

✅ The correct answer is D.
FTP is not an encryption technique. The File Transfer Protocol is a standard network protocol used for the transfer of computer files between a client and server on a computer network.

1472. Transfer through institutions such as mutual funds or banks are classified as

non-financial intermediary

financial intermediary

savers intermediary

discounted intermediary

✅ The correct answer is B.
Transfer through institutions such as mutual funds or banks are classified as financial intermediary. A financial intermediary is an entity that acts as the middleman between two parties in a financial transaction, such as a commercial bank, investment banks, mutual funds and pension funds.

1473. In estimation of cost functions, variations in a single activity level represents the

related total costs

related fixed cost

related variable cost

related per unit cost

✅ The correct answer is A.
In estimation of cost functions, variations in a single activity level represents the related total costs. Total cost refers to the aggregation of all types of costs related to a cost object, which means fixed costs, variable costs, and mixed costs.

1474. _______ is the first state that passed GST bill.

Andhra Pradesh

Gujarat

Uttar Pradesh

Bihar

✅ The correct answer is E.
Telangana was the first state to pass the State GST Bill on 9th April, 2017
Assam was the first state to ratify the GST Bill on 12th August, 2016

1475. If cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be

$10

$100

$1,000

$1,200

✅ The correct answer is B.
Weighted average cost = Cost incurred for work in process inventory ÷ Total equivalent units completed
= $350000 ÷ 3500 = $100

1457. According to common law, when should insurable interest be present in a general insurance contract?

At the time of taking policy

At the time of claim

Both A & B

None of the above

✅ The correct answer is C.
Insurable interest should be present at both the times, i.e. at the time of taking policy as well as at the time of claim.

1459. State the correct position out of the following.

No licence is actually needed by the agent if he is authorised by the Insurer

No agent can do insurance business without a valid licence under sec.42 of the Insurance Act 1938

An agent of insurance works for salary in an Insurance company

A Director of an Insurance company can be an insurance Agent

✅ The correct answer is B.
No agent can do insurance business without a valid licence under sec.42 of the Insurance Act 1938. The Insurance Act, 1938 is a law originally passed in 1938 in British India to regulate the insurance sector. It provides the broad legal framework within which the industry operates.

126. Which of the following is NOT a cash inflow?

Sale of fixed asset

Issue of debentures

Cash from business operation

Purchase of fixed asset

✅ The correct answer is D.
Purchase of fixed asset is NOT a cash inflow. Cash inflow is the money received by an organization as a result of its operating activities, investment activities, and financing activities.

Author name: Administrator