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FINANCIAL PLANNING (1) Which among the following would you recommend in order to seek protection against unforeseen events? I. Insurance II. Transaction products like bank FD’s III. Shares IV. Debentures Answer: I. Insurance (2) When is the best time to start financial planning? I. Post retirement II. As soon as one gets his first salary III. After marriage IV. Only after one gets rich Answer: II. As soon as one gets his first salary (3) Which among the following is not an objective of tax planning? I. Maximum tax benefit II. Reduced tax burden as a result of prudent investments III. Tax evasion IV. Full advantage of tax breaks Answer: III. Tax evasion (4) An individual with an aggressive risk profile is likely to follow wealth _______ investment style. I. Consolidation II. Gifting III. Accumulation IV. Spending Answer: III. Accumulation (5) Which among the following is a wealth accumulation product? I. Bank Loans II. Shares III. Term I...

LEGAL PRINCIPLES OF LIFE INSURANCE (1)Which among the following is an example of coercion? I. Ramesh signs a contract without having knowledge of the fine print II. Ramesh threatens to kill Mahesh if he does not sign the contract III. Ramesh uses his professional standing to get Mahesh to sign a contract IV. Ramesh provides false information to get Mahesh to sign a contract Answer:II. Ramesh threatens to kill Mahesh if he does not sign the contract (2)Which among the following options cannot be insured by Ramesh? I. Ramesh’s house II. Ramesh’s spouse III. Ramesh’s friend IV. Ramesh’s parents Answer :III. Ramesh’s friend (3)Which element of a valid contract deals with premium? I. Offer and acceptance II. Consideration III. Free consent IV. Capacity of parties to contract Answer:II. Consideration (4)_____________ relates to inaccurate statements, which are made without any fraudulent intention. I. Misrepresentation II. ...