Insurance

✅ The correct answer is D.
The objective of KYC guidelines is to prevent banks from being used, intentionally or unintentionally, by criminal elements for money laundering activities.

✅ The correct answer is B.
As per HLV concept, the amount of insurance one can buy could be 10 to 15 times of one’s annual income. We have already seen that an asset is a kind of property that yields value or a return. For most kinds of property the value is measured in precise monetary terms. Similarly the amount of loss of value can also be measured.

✅ The correct answer is D.
Buying less insurance is not a part of Cash planning exercise. If you buy more insurance than it is a part of cash planning.

✅ The correct answer is A.
Under risk classification, Standard lives consist of those whose anticipated mortality corresponds to the standard lives represented by the mortality table. Mortality tables are the most important basis for charging the premium.

✅ The correct answer is C.
A payment made under a money-back policy upon reaching a milestone will be classified under Periodical survival claim.

✅ The correct answer is C.
Large Number of cases gets accepted by the underwriting under Non-medical.

✅ The correct answer is D.
An insurance company needs assets for financing a new business for generating more competitive returns and for greater leverage in investment.

✅ The correct answer is C.
The time limit set for an insurer by IRDA Regulations for calling for documents from the date of receipt of claim intimation is 15 days.

✅ The correct answer is D.
If a policy is absolutely assigned to Ramesh and on the death of Srikant, the life assured, Ramesh will be paid the claim amount.

✅ The correct answer is D.
Assets can be valued by Book value, Market value or Discounted present value.