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Banking Sample Paper SBI Clerk Grade (Main) Sample Test Paper-2

  • question_answer
    An act by which the policyholders authorises another person to receive the policy money is known as -

    A)  Nomination

    B)  Assignment

    C)  Negotiation

    D)  Hypothecation

    E)  Transfer

    Correct Answer: A

    Solution :

     Nomination is an act through which, the policyholder authorizes another person to receive the maturity claim. The person, who is authorized, is called the Nominee. No consideration is required for nomination.        


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