IC-26| Life Insurance Finance | Memory based questions
The insurance institute of India conducts the III exam. Every year, the exam is held four times: once in March, once in May, once in September, and once in November. We are offering Recollected Questions (Memory-based Questions) for the Life Insurance Finance (IC-26) exam. The maximum number of questions are repeated in each exam in these papers. As a result, Ambitiousbaba is providing you with a recollected Question on Life Insurance Finance (IC-26).
These Life Insurance Finance (IC-26) Memory Based Questions can come in handy in the forthcoming Exam.
IC 26 Memory based questions
1. Examples of accounting process, choose wrong one. Pg3
2. Return of goods-debit note P4
3. What will be entries if car is purchased on credit.
4. Left side debit right side credit entry.
5. Which entries will be there in cash book (choose from options)
6. Choose incorrect options regarding trial balance is prepared in order to. p27
7. A trial balance contains p28.
8. Example of errors was given to identify type of error, p42 omission same example was asked.
9. Numerical of casting error result. P37
10. Numerical on capital expenditure
11. Numerical on mix of capital & revenue expenditures. Calculate revenue expenditure. (Consumable, repair and electricity costs were given)
12. Example of revenue receipt. p49
13. Arrangement in ascending order of liquidity p72.
14. Properties of income and expenditure acct choose correct options. p84
15. Numerical on straight line depreciation p86
16. 2 Numerical on BRS.
17. Contract of insurance is- utmost good faith p127
18. morbidity charges deals with-sickness. P131
19. Net premium consists of p132
20. Concurrent auditor- should not be a statutory or internal auditor. Many options were given this was correct. P139.
21. Process of actuarial variation involves steps p147
22. Features of whole life plan choose correct options p149
23. In which insurance no saving element and sum assured only in death- term insurance p151
24. Features of ULIP choose correct options. P157
25. Option 9 of ulip p 158 with various options.
26. Unit linked pension plan features chose correct options p158
27. Acct entry for cash book adjustment of 10 Rs surplus advance premium p178.
28. Book entry for o/s premium p187
29. Entries in deposit adjustment book p191
30. Premium cash book will record which transactions. P193
31. Proposal deposit amount will be written off after- 2 yrs.
32. Question on ULHP, Q4 on P246
33. TY1 on p256
34. Amortization expenses examples p260
35. Examples of approved securities p269
36. 2 questions on investment limits p-273-279
37. Which all AS will be prepared by General insurance companies, select between 5-6 Examples. P296
(Remove as3 & as17 from options)
38. Valuation of investment property -shall be determined at historical cost subject to revaluation in 3 yrs p298
39. Debt securities first para on p299.
40. AS17 will contain entries related to
41. Contingent liability options p360
42. Steps in BRS
43. Time and motion study dept- helps to determine Labour needed to produce one unit of output. P410
44. NVA formula p428
45. Properties of value added statement p430- 431
46. American accounting association defined human resource acct as identify & measure data p432
47. TY1 on p447
48. AS15 benefits p473
49. AS18 related example p481
50. Users of financial statement p493
51. Liquidity definition p558
52. Examples of indirect tax p568
53. TDS will be deducted on which of these perquisite p582
54. For calculation of HRA, which will be counted ie basic, DA, bonus, etc were options
55. Steps of money laundering. P608
56. Example of layering p608
57. Treatment of investment (g.) p 636
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