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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. ...

WHAT LIFE INSURANCE INVOLVES (1) How does diversification reduce risks in financial markets? I. Collecting funds from multiple sources and investing them in one place II. Investing funds across various asset classes III. Maintaining time difference between investments IV. Investing in safe assets Answer: II. Investing funds across various asset classes (2) Which of the below is not an element of the life insurance business? I. Asset II. Risk III. Principle of mutuality IV. Subsidy Answer: IV. Subsidy (3) Who devised the concept of HLV? I. Dr. Martin Luther King II. Warren Buffet III. Prof. Hubener IV. George Soros Answer: III. Prof. Hubener (4) Which of the below mentioned insurance plans has the least or no amount of savings element? I. Term insurance plan II. Endowment plan III. Whole life plan IV. Money back plan Answer: I. Term insurance plan (5) Which among the following cannot be termed as an asset? I. Car II. Human Life III. Air ...