SECTION A

1. ----------- --------------- means any authority competent to pass any order

or decision under Customs Act 1962, but does not include the Board,

[Commissioner (Appeals)] or Appellate Tribunal.

1. Competent Authority

2. Adjudicating authority

3. Quasi-Judicial Authority

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4. Chief Metropolitan Magistrate

2. ------------------------------------------------------- means the [waters

extending into the sea up to the limit of contiguous zone of India under

section 5 of the Territorial Waters, Continental Shelf, Exclusive

Economic Zone and other Maritime Zones Act, 1976 (80 of 1976) and

includes any bay, gulf, harbour, creek or tidal river;]

1. Territorial waters

2. Free Economic Zones

3. Harbour or creek

4. Indian customs waters

3. "illegal import" means the import of any goods in ------------ of the

provisions of this Act or any other law for the time being in force;

1. Contravention

2. Accordance

3. Support

4. All of the above

4. The exporter of any goods shall make entry thereof by presenting to the

proper officer in the case of goods to be exported in a vessel or aircraft, a

-------------------, and in the case of goods to be exported by land, a bill of

export in the prescribed form.

1. Bill of Lading

2. Shipping bill

3. Clearance Receipt

4. Insurance Premium Receipt

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5. --------------------------------------------------------------------- are the two primary statutes

that govern the entry and exit of goods into or from the country.

1. The Customs Act 1962 and the Customs Tariff Act, 1975

2. Sale of Good Act, 1930

3. Indian Contract Act, 1860

4. Goods and Services Tax Act, 2017

6. 'EXIM Bank' means the ----------------------- established under the Export-Import Bank of

India Act, 1981 (28 of 1981);

1. Export-Import Bank of India

2. Export Import House

3. State Bank OF India

4. Export import Policy

7. 'Export' includes the taking or sending out of goods by land, sea or air, on consignment or

by way of sale, lease, hire-purchase, or under any other arrangement by whatever name

called, and in the case of software, also includes transmission through any -----------------

1. Social Media

2. Electronic Media

3. Digital Media

4. Print Media

8. Export value' in relation to export by way of lease or hire-purchase or under any other

similar arrangement, includes the -----------, by whatever name called, payable in respect of

such lease or hire-purchase or any other similar arrangement.

1. Deficits

2. Loans

3. Charges

4. Premium

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9. The purpose of ----------------------- is to control the flow of goods, transports and personal

effects into (Import) and out (Export) of a country. Every country has own laws and

regulation on Import and Export which is enforced by its customs authority.

1. Custom Duty

2. Customs Law

3. Customary Norms

4. Custom Tariff

10. -------------------------------- defines "prohibited goods" means any goods the import or export

of which is subject to any prohibition under this Act or any other law for the time being in force but

does not include any such goods in respect of which the cond itions subject to which the goods are

permitted to be imported or exported have been complied with;

1. Section 2 (33) of Customs Act 1962

2. Section 2(34) of Customs Act 1962

3. Section 2(31) of Customs Act 1962

4. Section 2(12) of Customs Act 1962

SECTION B

1. The IRD Act has established the Insurance Regulatory and Development Authority

(IRDA or Authority) as a statutory regulator to regulate and promote the

insurance industry in India and to protect the interests of holders of ---------------

1. Foreign Direct Investments

2. Insurance policies.

3. Fixed Deposits

4. Mutual Funds

2. For the purposes of calculating the investments, the amount of deposits made with the

RBI by the insurer in respect of his life insurance business shall be deemed to be -----

----- invested in Government securities.

1. Returns

2. Capital

3. Assets

4. Stock

3. Insurance companies and insurance agents, in India, are subject to tax for the ----------

----------------------------- received by them respectively, under the Indian Income Tax

Act, 1963 (Income Tax Act).

1. Premiums and the commissions

2. Annuity

3. Gratuity.

4. Pension

4. Insurance helps to --------------------------------------

1. Prevent adverse situations from occurring

2. Reduce the financial consequences of adverse situations

3. Negate all consequences of adverse situations

4. Make assets continuously productive.

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5. Which of the following terms matches closest with Family Floater'?

1. Health insurance

2. Property insurance

3. Accidental injury

4. Consequential loss

6. In cases where a Life Insurance Agent collects the premium from the policyholder

and remits it to the insurer's office, he is acting as an agent of _____

1. IRDA

2. The Insurance Company

3. The Policyholder

4. The broker

7. A policy where the policyholder makes a one-time payment of premium, is known as

______________

1. Money-back policy

2. Single premium policy

3. Salary Savings Scheme policy

4. Half-yearly policy.

8. As per structured formula under the Motor Vehicle Act, victims of fatal injuries are

paid compensation on the basis of:

1. Age and sex

2. Age and number of dependents

3. Income and size of family

4. Age and income

9. The minimum paid up capital required for a General Insurance Company is Rs. ____

1. 25 crores

2. 50 crores

3. 75 crores

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4. 100 crores

10. ......... principle in insurance means maximum truth.

1. subrogation

2. causa Proxima

3. insurable interest

4. uberrima fides