Question 1

Mr. Dinesh is aged 35 years and has a wife aged 30 years old and two small children. His parents are also dependent on him and has a house against which he has taken a housing loan. What is the most important insurance cover required by him at this stage?

Options :

A : Income Protection Cover and Life Insurance Cover

B : Life Insurance Cover and Mortgage Cover

C : Accident policy Cover and Critical Illness cover

D : Child education Cover

Answer: B

Question 2

Rapid accumulation stage suggests that the net worth is ________

Options :

A : 1 times of annual income

B : 2 times of annual income

C : 3 times of annual income

D : 4 times of annual income

Answer: C

Question 3

Alok a 28 years old person has joined SABH on 1/07/2006. His monthly salary (net salary) after deduction is payable Rs. 22500/. His monthly expenses details are as follows:Assume Alok takes a flat on rent from 01 /07/2006. On 01 /07/2006 he has cash in hand Rs. 1450/-. He starts paying insurance premium from October @ Rs. 2500/- pm. His investments in Mutual fund SIP are Rs. 3000/-pm for a 6 month period. What will be his cash in hand on 31/03/2007.?

Options :

A : Rs.72150/-

B : Rs.83150/

C : Rs.69070/-

D : None of the above

Answer: C

Question 4

Which of the following are the necessary contents of a will?

Options :

A : (i) & (iii)

B : (ii) & (iv)

C : (i), (iii), (iv)

D : (ii), (iii), (iv)

Answer: A

Question 5

"When a customer opts for a safe deposit locker, the bank becomes a _______."

Options :

A : Debtor

B : Creditor

C : Lessee

D : Lessor

Answer: D

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