REPS TEST 18042024

Endowment Life insurance policy taken as on 5-Jul-10 and payment mode is quarterly.sum assured of the policy is 500000 , premium being paid is 5000/-,Accrued bonus is 700000 as on date.in case if person dies today as on 10th April 2023.how much claim will be settled ?

Raghuraj aged 30, has an annual salary of 10 lac. And his salary expected to increase at the rate of 7% till he retires at the age of 60 with 10% discounting rate. What shall be his economic life value.

Abhimanuy aged 28 has annual salary of 9 lac. His other information are below.

Taxpaid – 25,000
Life insurance (self) – 35,000
Life insurance (child) – 22,000
Life style expense – 55,000
If salary is expected to increase at the rate of 6% and retirement age is 60. What will be his economic life value at discount rate rete of 8 %.

Wife shall receive 40000 per month till her 55 years of age increasing with 6.5%. Son who is 5 years old today and I want to cover my life for his education expenses which will start at the 18 years of age of him for four years and current expense is 5 lac per annum education inflation 8%. I want to cover my life for my daughter’s marriage. Which will take place at the age of 25 current age of daughter is 6 and current marriage exp are 25 lac which will increase at the rate of 6%

Ajay has two kids ..Sakshi and Pratham …aged 6 and 8 respectively…Ajay will need 5 lac (Current Price) for a four year degree course starting from age 18. Education expenses are increasing with 8% . Ajay wants to know what amount he should invest per month till the last requirement with the rate of 11% to achieve this goal.

Rahul has two kids, Arnav & Aashi , aged 5 yrs and 2 yrs respectively…Rahul needs 7 lac rs in today’s value for a five year degree course starting from their 18 years of age and expect education inflation to be 6% over the years. Rahul wants to run a per month investment till the next 18 years and he wants to use his current savings of 10 lac rs..Rate of return is 12%.What will be that per month amount.

A family’s present monthly expenditure is Rs. 45,000. The earner accounts for 15% of the expense. He wants to cover his family’s inflation-adjusted expenses for the next 30 years considering average inflation at 5% p.a. and the investment return at 8% p.a. The approximate life insurance needed is ____.

Vishnu, aged 35 years, is the sole bread earner of the family. His wife, Laxmi, is a homemaker. They have a child who is aged 3 years. Vishnu wants to take a suitable cover for securing his child’ school education which shall start when the child turns 6 and continue for next 10 years till the age of 16. Assume that the current education expenses are Rs. 8,000 per month with inflation of 4% each year and the investments can earn a return of 7% per annum. How much insurance cover should Vishnu purchase today to fund his child’s education expenses ?

your client Karena has just started her own consulting business after a long and successful career with a major employer but has lost employer-sponsored medical benefits. Karena has also been appointed as a Director to a non-profit organization board. Karena’s successful career has enabled her to be classified as a “high net worth individual” (HNWI). Karena has no dependents. The insurance priorities for Karena in the order of most important to least important are most likely:

Which is the correct statement regarding risk?

If an individual takes insurance he most likely manages risk by:

Under which step of risk management the advisor will view tax returns investment statements wills and trust documents policy checklists legal documents

Which of the following is least likely a characteristic of insurance policy:

After the insured pays one relatively small premium for a life insurance policy the insurer is required to pay a large claim on the death of the insured.Which property of insurance contract refer here

Under key man insurance policy who is the primary beneficiary:

—is an annuity contract provision in which the company agrees that if any new rate established by the company is below the rate specified in the provision, money in the contract can be withdrawn without a company-imposed penalty.

Which of the following is not covered under long term care insurance?

Which of the following factors are least likely to be considered when making insurance company selection?

—-is the authority with property and liability agents to handle minor claims in the office, without having to go through a long adjustment process.

A Christian has recently intestate died with a surviving spouse and Father. John do not have any lineal ascendent. In What Ratio the property will be distributed between Steve’s wife and Father ?

Philip A Christian who has recently died with surviving spouse having no children or any other Kindered , He did not do any estate planning.How the property is going to be distributed of Philip ?

Baman A Parsi who recently passed away intestate due to a sudden cardiac arrest leaving behind only wife,He had a predeceased daughter whose husband is alive but daughter did not have any lineal descendants. How the property of Baman is going to be distiributed ?

When a number of people who are learned in Islamic Law agree on a particular question, their consensus is binding on the Muslim community. Its a arabic term referring to consensus or agreement of Islamic scholars on a point of Islamic law

Steve A Christian has recently died intestate with a surviving spouse and two children a son and a Daughter, What Ratio the property will be distributed between ’s wife and his chidren ?

Jose A Christian who recently died intestate in a road accident leaving behind only Mother, A brother and a sister and two children of his prdeceasesd brother , How the property is going to be distributed of Jose ?

What are the governing principles of Christian that will determine their inheritance ?

Mr.K is an Indian Citizen and now wants to live permanently in the US and doesn’t want to live in India what it shows ?

Mr. K is Hindu if he dies in the estate who will get his property. In his family his dad and wife & son and his sister lived with her.

A, an Indian Hindu, owns shares of a company and has nominated his son B in respect of such shares. A has also made a will under which he has bequeathed the shares to his wife X , probate of A’s will has been granted Who is entitled to get the shares ?

Vishnu, aged 35 years, is the sole bread earner of the family. His wife, Laxmi, is a homemaker. They have a child who is aged 3 years. Vishnu wants to take a suitable cover for securing his child’ school education which shall start when the child turns 6 and continue for next 10 years till the age of 16. Assume that the current education expenses are Rs. 8,000 per month with inflation of 4% each year and the investments can earn a return of 7% per annum. How much insurance cover should Vishnu purchase today to fund his child’s education expenses ?

If a Muslim has a surviving spouse 4 Sons & 2 Daughter. If his estate has been evaluated to be 1 crore. What share of his estate will be bequeathed by daughter ?

Which of the following statement is False? A. In the case of Christians, the laws of Indian Succession Act, 1925 is applicable to both testamentary and intestate succession. B. The Indian Succession Act, 1925 is applicable to laws relating to the testamentary succession in the case of Sikhs & Hindus However, in the case of intestate succession of Sikhs the Hindu Succession Act, 1956 is applicable ?

When can a trust get extinguished? A. When its purpose is completely fulfilled, or B. When its purpose becomes unlawful, or C. When the fulfilment of its purpose becomes impossible by destruction of the trust-property or otherwise, or D. When the trust being revocable, is expressly revoked?

Who are included under the Hindu Succession Act?

Who can have custody of illegitimate child of a Muslim?

Which succession law is applicable for special Marriage Act 1954.

Personal law will be applicable on property owned by Hindus who married under the Special Marriages Act 1954

When someone will be related to others as a full blood heir

When someone will be related to others as a Half-blood heirs

When someone will be related to others as a Uterine blood heirs

What is a intestate succession?

Class-1 Heirs as per HSA Act 1956 includes except

Male or female descendants by male links from a common ancestor or relatives through male lineage are called as ….

Descendants by links from a common ancestor or relatives through male or female lineage are called as ….

Under Shia law, a testator can only dispose of the ………. to an heir or a complete stranger (non-heir), without the consent of heirs

Under Shia law, the bequest will not take effect only when the death of the testator has been caused