Tuesday 12 June 2012

MODEL QUESTIONS FOR IPO EXAM ( POSTAL LIFE INSURANCE )(QNo1to 25)

POSTAL LIFE INSURANCE

1.         Postal life insurance scheme started in
           
            a)         01-02-1882                                        b)         01-02-1892
            c)         01-02-1882                                        d)         None of these                       Ans: c

2.         Who are eligible for obtaining a PLI Policy of the following

            a)         Central/Stage Govt employees      b)         Defense services
            c)         Nationalized banks/RBI                  d)         All the above                         Ans:d

3.         Postal life insurance slogan is

a)                 Jindagi ka saath bi jindagika baad bi
b)                 Insuring lives ensuring future
c)                  Ensuring life insuring future
d)                 None of these                                                                                               Ans: c

4.         What is the max PLI policy limit for a person

            a)         300000/-                                            b)         500000/-
            c)         2000000/-                                          d)         No limit                                   Ans:c


5.         Postal life insurance policy available in

            a)         5 types                                               b)         6 types
            c)         7 types                                               d)         4 types                                   Ans:b

6.         Mark the correct option relating to age limit

            a)         For WLI & EA policies the insurant should not be less than 19 year an not more              than 55 year on the date of next birthday
            b)         For CWLA the upper age limit is 50 year
            c)         The max age limit for 15 and 20 year AEA is 45 and 40 respectively
            d)         Under Ugal suraksha policy age at entry of both the spouses should not be less              than 21 year and not more than 45 year.
            e)         All the above                                                                                                 Ans:e

7.         For children policy the child should be

            a)         Between 1 to 18 year age               b)         Between 5 to 18 year age
            c)         Between 5 to 18 year age               d)         Between 5 to 20 year age   Ans: d

8.         Under non medical scheme the age at entry of proponent should not exceed

            a)         35 years                                             b)         40 years
            c)         45 years                                             d)         No limit                                   Ans:a

9.         What is the min amount AEA policy for GP D  and others
           
            a)         10000/- ,20000/-                               b)         20000,/- 30000/-
            c)         5000/-, 10000/-                                 d)         None of these                       Ans:a




10.       What is the rebate allowed in advance paid premium for half year & one year?

            a)         1% & 2%                                            b)         2% & 3%
            c)         2%&4%                                              d)         None of these                       Ans:a

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11.       When the PLI policy treated as lapsed
           
            a)         Policy is less than two  year old and if due installment are not paid within 6                       month the policy may be treated as lapsed
            b)         Policy is less than five year old and if due installment are not paid within 12                     month the policy may be treated as lapsed
            c)         Policy is less than three year old and if due installment are not paid within 6                     month the policy may be treated as lapsed
            d)         None of these                                                                                               Ans:c

12.       In case the policy three year old and if premium is not paid for 12 month and more  then the permission form the ______ is necessary

            a)         DDG PLI                                            b)         DG Post
            c)         Head of the Circle                            d)         SSP/SP                                 Ans:c

13.       Mark the correct option

a)                 The WLA policy can be converted into EA after one year
b)                 The EA policy can be altered and value can be reduced after one year of issue and  before one year of maturity
c)                  CWL policy cant be converted into EA policy at the end of the 5 year.
d)                 All the above                                                                                                 Ans:d

14.       In the event of policy holder committing suicide
           
a)                 The full maturity benefit will be paid
b)                 No claim will be entertained in suicide cases
c)                  Within two year from the date of policy, the policy will be treated as void and no claim will be entertained
d)                 The premium will be returned a/w SB interest                                        Ans:c

15.       How can we revive the lapsed PLI policy?

a)                 Lapsed PLI cannot be revived
b)                 Lapsed PLI can be revived after the sanction of the DG Post
c)                  Lapsed PLI can be revived with the order of the CPMG and on paying all the installment due along with 12% interest and also producing medical fitness certificate
d)                 Lapsed PLI  can be revived getting another policy                                Ans:c

16.       Mark the incorrect option
            Limit of death claim benefit under non medical scheme is if death occurs within
           
a)                 1 year 35%of sum assured a/w accrued bonus
b)                 2 years 60% of sum assured a/w accrued bonus
c)                  3 years 90% of sum assured a/w accrued bonus
d)                 4 years 100 % of sum assured a/w accrued bonus                               Ans:d
( It is desirable to opt for policy medical scheme to get full benefit)

17.       Mark the correct option relating to the loan on PLI policy (WLA)

a)                 Exceeding 4 years but not exceeding 7 years 60%
b)                 Exceeding 7 years but not exceeding 12 years 80%
c)                  Exceeding 12 years 90%
d)                 All the above                                                                                                 Ans:d

18.       Mark the correct option relating to the loan on PLI policy (EA)

e)                 Exceeding 3 years but not exceeding 5 years 60%
f)                   Exceeding 5 years but not exceeding 10 years 80%
g)                 Exceeding 10 years 90%
h)                 All the above                                                                                                 Ans:d

20.       Mark the correct option

            a)         Interest at 10% per annum is charged on the loan compounded half yearly           b)            Second loan is not admissible until first loan is cleared.
            c)         Loan are not available on AEA policies
            d)         The risk is covered on the PLI policy by dept only from the date of acceptance                  of the proposal by the CPMG
            e)         All the above                                                                                                 Ans:e

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21.       Nomination fee for changing/altering  of PLI policy is
           
            a)         Rs 1/-                                                              b)         Rs2/-
            c)         Rs 5/-                                                              d)         Free                            Ans:d


22.       The children policy in PLI and RPLI was introduced in

            a)         24 Mar 1995                                                  b)         20 Jan 2006
            c)         01 Apr 2004                                                  d)         None of these           Ans:b

23.       What is the latest bonus rate from 31 Mar 2006?

a)                 WLA continuing Rs 90/- per thousand rupees of sum assured
b)                 EA continuing policies Rs 70/- per thousand rupees of sum assured
c)                  AEA continuing Rs 65/- per thousand rupees of sum assured
d)                 All the above                                                                                                 Ans:d

24.       Mark the incorrect option

            a)         EA & Yugal suraksha policies may be surrendered or made paid up after 3                                   years.
            b)         WL and CWL policies may be surrendered or made paid up after 4 years
            c)         AEA policy may be surrendered after 3 year
            d)         All the above                                                                                                 Ans:c
( AEA policy cannot be surrendered)

25.       As per revised Govt policy the insurant will get approximately

            a)         Less than 40% of total premia paid by him, if surrendered before completion of                5 years
            b)         75% after completion of 5 years but before 10 years
            c)         Full recovered amount after 10 year
            d)         All the above                                                                                                 Ans:d

(Prepared  by AB Kantharaja, Mobile 08969822340

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Three per cent quota in Government Service for the Disabled is only for initial appointments not for Promotions - Madras High Court

Three per cent quota in Government Service for the Disabled is only for initial appointments not for Promotions - Madras High Court

Three per cent quota in government service for the disabled is only for initial appointments, and the government cannot be directed to extend it for promotions, ruled the Madras High Court on Monday.
Dismissing a petition seeking a direction to the government to reserve three per cent for promotions to physically handicapped persons, Justice K. Chandru said: “The provisions are contemplated only for initial appointments and not for promotions. The petitioner has not made out any case to seek a direction to provide for reservation for the disabled persons in the matter of promotions in respect of State services.”

The writ petition was filed by the South Arcot Vallalar District Handicapped Welfare Association, represented by its president S. Shanmugam, seeking reservation for the disabled in promotions. If suitable employees were not available in a particular year, the unfilled posts could be carried over for the next three succeeding years.
When the matter was heard, the State Commissioner for the Disabled stated that there was no government policy to reserve three per cent of posts in promotions to be filled from the disabled category.
The disabled persons were considered only for the direct recruitment posts under three per cent reservation as per a G.O issued in 1981. Promotions were made in government departments based on seniority or transfer of service.
Mr. Justice Chandru said it could be seen from the G.O. that reservation for disabled persons was only horizontal and not vertical as contemplated in Article 16 of the Constitution.
He said that even in respect of the Scheduled Castes and Scheduled Tribes, it was only by virtue of amendments made to the Constitution and by introduction of Article 16(4A) that the State had been empowered to make provision for reservation in promotion to any class or classes of posts in the service

Source: The Hindu, via gservants.com