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      Question

      Under the Bima-ASBA system, what happens if an insurer does

      not process an application within 14 days?
      A The policy is automatically issued Correct Answer Incorrect Answer
      B The blocked funds are released back to the policyholder Correct Answer Incorrect Answer
      C The funds are transferred to the insurer Correct Answer Incorrect Answer
      D A penalty is imposed on the policyholder Correct Answer Incorrect Answer
      E The policyholder must reapply for the insurance Correct Answer Incorrect Answer

      Solution

      If an insurer does not process the application within 14 days, the blocked funds in the policyholder’s account are automatically released without any deductions.

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