Question 1

Which One of the Following Acts, has the Provisions for Monitoring and Control of Operations of Insurance Companies?

Accepted Answer

A)  Insurance Regulatory and Development Authority (I.R.D.A.)  Act, 1999.
B)  Deposit Insurance and Credit Guarantee Corporation Act, 1961.
C)  Public Liability Insurance Act, 1991.
D)  Insurance Act, 1938.

Question 2

What is the Prime Purpose of Insurance-Regulation? Choose the Most Appropriate Answer.

Accepted Answer

A)  To ensure that, Rural Areas and Weaker Sections of Population gets the Adequate Insurance-Coverage.
B)  To ensure that, Insurance Companies generate the Sufficient Profits, so that, they can Survive in the Long- Term.
C)  To ensure that, Insurance-Cover is extended to All the Citizens of India.
D)  To Protect the Policy- Holders' Interests.

Question 3

Label the Document, that is used, to lay-down the Terms of the Insurance Contract, when it is bought. Choose the Most Appropriate Option.

Accepted Answer

A)  Policy
B)  Agreement
C)  Authorisation
D)  Endorsement

Question 4

Who among the Following, are Not Regulated by Insurance Regulatory and Development Authority of India (I.R.D.A.I.) ?

Accepted Answer

A)  Third-Party Administrators (T.P.A.s) 
B)  Insurance Brokers
C)  Current Account-Savings Account (C.A.-S.A.)  Agents
D)  Corporate Agents

Question 5

Which One of the Following, is the Basic Insurance Legislation of the Country, that governs Insurance Business in India?

Accepted Answer

A)  Insurance Act, 1938.
B)  Insurance Regulatory and Development Authority (I.R.D.A.)  Act, 1999.
C)  Deposit Insurance and Credit Guarantee Corporation Act, 1961.
D)  Public Liability Insurance Act, 1991.

Exam 4: Insurance Law and Regulation in India

Label the Document, that is used, to lay-down the Terms of the Insurance Contract, when it is bought. Choose the Most Appropriate Option.

Correct Answer
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Which One of the Following Acts, has the Provisions for Monitoring and Control of Operations of Insurance Companies?

Correct Answer
verified

Which One of the Following, is the Basic Insurance Legislation of the Country, that governs Insurance Business in India?

Correct Answer
verified

Who among the Following, are Not Regulated by Insurance Regulatory and Development Authority of India (I.R.D.A.I.) ?

Correct Answer
verified

What is the Prime Purpose of Insurance-Regulation? Choose the Most Appropriate Answer.

Correct Answer
verified

Exam 4: Insurance Law and Regulation in India

Label the Document, that is used, to lay-down the Terms of the Insurance Contract, when it is bought. Choose the Most Appropriate Option.

Correct AnswerverifiedShow Answer

Which One of the Following Acts, has the Provisions for Monitoring and Control of Operations of Insurance Companies?

Correct AnswerverifiedShow Answer

Which One of the Following, is the Basic Insurance Legislation of the Country, that governs Insurance Business in India?

Correct AnswerverifiedShow Answer

Who among the Following, are Not Regulated by Insurance Regulatory and Development Authority of India (I.R.D.A.I.) ?

Correct AnswerverifiedShow Answer

What is the Prime Purpose of Insurance-Regulation? Choose the Most Appropriate Answer.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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