Free Access AAFM.GLO_CWM_LVL_1.v2021-10-25.q359 Practice Test (Page 54)

Question 261

An HUF consisted of a father, who is a widower, his three sons and a daughter. On death of the father what will the share of each of his sons?

A.One sixteenth of HUF property

B.One fourth of HUF property

C.One fourth plus one sixteenth of HUF property

D.One third of HUF property

Question 262

Employees Provident Fund is applicable to firms employing over _______________ employees

A.10

B.20

C.25

D.15

Question 263

Solatium fund for hit and run accident in motor insurance policy has been created by the Government of India which consists of contributions from Government and General Insurance companies, as below:

A.Central & State Govt. - 25%, General Insurance Industry- 75%

B.Central & state Govt. - 40%, General Insurance Industry- 60%

C.Central & State Govt. - 50%, General Insurance Industry -50%

D.Central & State Govt. - 30%, General Insurance Industry - 70%

Question 264

A ____________ mortgage binds himself to repay the mortgage money on a certain data transfer the mortgaged property absolutely to the mortgager.

A.Usufructuary mortgage

B.Reverse mortgage

C.English mortgage

D.Anomalous mortgage

Question 265

Duration is

A.Quoted in years

B.Weighted average term to maturity

C.Equal or less than it's time to maturity

D.All of the above

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