INSURANCE AWARENESS QUESTIONS & ANSWERS

1."Refund Banker Scheme" has been launched by

IBA RBI SEBI Income Tax Department

2.Bank can issue a duplicate of a lost demand draft at the request of the

Payee holder Purchaser Either A or C

3.A cheque can be paid in cash even after business hours when it is presented by

a person known to bank officials 

any person

the drawer

the payee

4.The amount of advance which may be granted against the security of a life insurance policy depends on

the amount of the insurance policy

the surrender value of the policy 

the paid-up value of the policy 

the total amount of premiums paid

5.Consent of RBI is necessary before transferring funds from one chest to another because

RBI is the owner of the Chest

RBI arranges transit insurance 

Police protection is arranged 

Details to be kept a secret