{"id":32017,"date":"2024-04-15T08:54:29","date_gmt":"2024-04-15T08:54:29","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=32017"},"modified":"2024-04-15T08:54:29","modified_gmt":"2024-04-15T08:54:29","slug":"which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/","title":{"rendered":"Which of the following statements are true with regard to MWP Act cases? I: Maturity claim cheques are paid to policyholder. II: Maturity claim cheques are paid to trustee."},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6aacd397be169\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    I is true                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    II is true                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"true\">\r\n                    Both I and II are true                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Neither I nor II is true                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>C. Both I <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> and II are true<\/strong>.<\/p>\n<p>The MWP Act, or the Maturity Withdrawal Payment Act, is a law that was passed in 2007. The purpose of the law is to protect the interests of policyholders who have invested in maturity withdrawal plans. The law states that maturity claim cheques must be paid to the policyholder, or to a trustee appointed by the policyholder.<\/p>\n<p>There are a few reasons why the law requires that maturity claim cheques be paid to the policyholder or a trustee. First, it <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> is important to protect the interests of the policyholder. If the policyholder dies before the maturity date, the maturity claim cheque should be paid to the policyholder&#8217;s estate. Second, it is important to protect the interests of the trustee. If the policyholder is unable to manage their own finances, the trustee can be appointed to manage the maturity claim cheque on their behalf.<\/p>\n<p>The MWP Act is an important law that protects the interests of policyholders. If you have invested in a maturity withdrawal plan, it is important to be aware of the law and to make sure that your maturity claim cheque is paid to the correct person.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li>Option A: I is true. This option is true because the MWP Act states that maturity claim cheques must be paid to the policyholder.<\/li>\n<li>Option B: II is true. This option is true because the MWP Act also states that maturity claim cheques can be paid to a trustee appointed by the policyholder.<\/li>\n<li>Option C: Both I and II are true. This option is the correct answer because both statements are true.<\/li>\n<li>Option D: Neither I nor II is true. This option is false because both statements are true.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following statements are true with regard to MWP Act cases? I: Maturity claim cheques are paid to policyholder. II: Maturity claim cheques are paid to trustee.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which of the following statements are true with regard to MWP Act cases? I: Maturity claim cheques are paid to policyholder. II: Maturity claim cheques are paid to trustee.\" \/>\n<meta property=\"og:description\" content=\"Join Our Telegram Channel Subscribe on YouTube\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T08:54:29+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Which of the following statements are true with regard to MWP Act cases? I: Maturity claim cheques are paid to policyholder. II: Maturity claim cheques are paid to trustee.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/","og_locale":"en_US","og_type":"article","og_title":"Which of the following statements are true with regard to MWP Act cases? I: Maturity claim cheques are paid to policyholder. II: Maturity claim cheques are paid to trustee.","og_description":"Join Our Telegram Channel Subscribe on YouTube","og_url":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T08:54:29+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/","url":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/","name":"Which of the following statements are true with regard to MWP Act cases? I: Maturity claim cheques are paid to policyholder. II: Maturity claim cheques are paid to trustee.","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-15T08:54:29+00:00","dateModified":"2024-04-15T08:54:29+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-are-true-with-regard-to-mwp-act-cases-i-maturity-claim-cheques-are-paid-to-policyholder-ii-maturity-claim-cheques-are-paid-to-trustee\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"Insurance","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/insurance\/"},{"@type":"ListItem","position":4,"name":"Which of the following statements are true with regard to MWP Act cases? I: Maturity claim cheques are paid to policyholder. II: Maturity claim cheques are paid to trustee."}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d97f17072bfa490596c8f78363955d55?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d97f17072bfa490596c8f78363955d55?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/32017"}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=32017"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/32017\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=32017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=32017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=32017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}