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1048. Terminal bonus is payable at the time of

Surrender

Maturity/death

Loan

None of the three

✅ The correct answer is B.
Terminal bonus is also known as persistency bonus which is paid once, i.e. at the time of maturity of the policy. It is a sort of loyalty bonus given to a policyholder for maintaining the policy till maturity.

1049. In respect of nomination, which one of the following is incorrect?

Where the nominee is a minor, an appointee has to be appointed

The appointee has to given his/her written consent

Nominee has right to whole/part of the claim

None of the above

✅ The correct answer is C.
Nominee doesnot have right to whole/part of the claim.

1050. Overhead can be classified according to function-wise as ________.

fixed o/h, variable o/h and semi-variable o/h

controllable o/h and uncontrollable o/h

manufacturing o/h, administration o/h and selling & distribution o/h

past cost and future cost

✅ The correct answer is C.
Overhead can be classified according to function-wise as manufacturing o/h, administration o/h and selling & distribution o/h.

1051. When two products are simultaneously produced in a process and one of them has comparatively high value and other is of low value , the low value product is called __________.

joint products

by products

seasonal products

economic products

✅ The correct answer is B.
When two products are simultaneously produced in a process and one of them has comparatively high value and other is of low value , the low value product is called by products.

1052. The structure of the cold drink industry in India is best described as

Perfectly competitive

Monopoly

Oligopoly

Monopolistically competitive

✅ The correct answer is D.
The structure of the cold drink industry in India is best described as monopolistically competitive. Monopolistic competition is a market structure in which there are many firms selling differentiated products.

1054. An amount invested is Rs 1500 and an amount received is Rs 2000 then return would be

Rs 500.00

-Rs 500.00

Rs 3,500.00

-Rs 3,500.00

✅ The correct answer is A.
Return = Amount Recieved – Amount Invested
= Rs. 2000 – Rs. 1500 = Rs. 500.

1056. The second glass of lemonade gives lesser satisfaction to a thirsty biy, this is a clear case of

Law of demand

Law of diminishing returns

Law of diminishing marginal utility

Law of supply

✅ The correct answer is C.
The second glass of lemonade gives lesser satisfaction to a thirsty boy, this is a clear case of Law of diminishing marginal utility. The law of diminishing marginal utility describes a familiar and fundamental tendency of human behavior.

1058. Speculators in the futures markets_____________.

make the market more volatile

contribute liquidity to the market

engage mainly in short sales

serve no real economic function

✅ The correct answer is C.
Speculators are typically sophisticated risk-taking investors with expertise in the markets in which they are trading; they usually use highly leveraged investments, such as futures and options.

1060. An assumption of specification analysis states: any observation does not belong to any other observation’s residual value, is classified as

independence of residuals

dependence of residuals

independence of correlation

dependence of residuals

✅ The correct answer is A.
An assumption of specification analysis states: any observation does not belong to any other observation’s residual value, is classified as independence of residuals. These residual plots can be used to assess the quality of the regression.

1034. Cost which is changed in proportion to level total volume is

fixed cost

variable cost

total cost

infeasible cost

✅ The correct answer is B.
Cost which is changed in proportion to level total volume is variable cost. Variable costs are costs that change as the quantity of the good or service that a business produces changes.

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