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Postal Life Insurance Rules,2011 contains 62 clauses. The PLI rules 2011 is being amended time to time. The following MCQ series will cover all the clauses of PLI rules along with its amendments and latest circulars. Readers are requested to go through the PLI 2011 rules once and attend the MCQ.

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MCQ on POSTAL LIFE INSURANCE RULES, 2011 - Part- I

1. Which of the following is not correct w.r.t POPLI Rules 2011?

A. The term “Conversion “ includes antedating or postdating of the maturity of a policy

    B.   “Commutation” means any alteration in a contract of insurance excepting one in the    date of maturity
   C.   Date of Acceptance” means the date on which the proposal is accepted but not mentioned in the “Acceptance letter” issued to the proposer
   D.   Director PLI” means the Director, Postal Life Insurance, Kolkata

2.    Free Look Period mentioned in POPLI Rules 2011 is
   A.   15 days from the date of acceptance of the policy
   B.   15 days from the date of delivery of the policy
   C.   10 days from the date of delivery of the policy
   D.   10 days from the date of acceptance of the policy

3. The Head of CPC of PLI/RPLI in Head Office is
   A.    Accountant
   B.    Manager
   C.    Supervisor
   D.    Quality Checker

4.    In PLI Rules 2011 “Due date of premium” is
   A.   Last day of the month
   B.   Within last day of the month
   C.   First day of the month
   D.   Any date of the month

5.    Maximum sum assured in PLI policy
   A.   15 Lakh
   B.   20 Lakh
   C.   50 Lakh
   D.   30 Lakh

6.    Premium frequency for AEA and Joint Policy in PLI is
   A.   Monthly
   B.   Quarterly
   C.   Half Yearly
   D.   All the above

7.    AEA policy introduced in
   A.   01.02.1884
   B.   01.02.1984
   C.   01.02.1894
   D.   01.02.1994

8.    Which of the following is not correct in respect of AEA policy
   A.   No surrender admissible
   B.   No loan admissible
   C.   No conversion is permissible
   D.   Paid periodical survival benefits will be adjusted in claim amount in case of death of the account holder

9.    RPLI is introduced in
   A.   23.04.2005
   B.   23.04.1995
   C.   24.03.1995
   D.   23.04.1995

10. The maximum limit of sum assured with non-standard proof of age in RPLI shall be
   A.   One lakh
   B.   Fifty thousand
   C.   Five lakh
   D.   Twenty Five Thousand

11. Percentage of extra premium, if the sum assured exceeds Rs.25000/- in non-standard age proof
   A.    15%
   B.    10%
   C.   5%
   D.   No extra premium

12. Joint Life Assurance introduced on
   A.   01.07.1997
   B.   01.08.1987
   C.   01.08.1997
   D.   01.07.1987

13. Children Policy introduced on
   A.    20.01.2006
   B.    20.01.2005
   C.   20.01.2004
   D.   01.11.2006

14. Joint policy term shall not exceed
   A.   10 years
   B.   20 years
   C.   30 years
   D.   15 years

15. In Children Policy, the age of child should not be less than
   A.   10 years
   B.   5 years
   C.   3 years
   D.   15 years