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Insurance Awareness - Regulatory Bodies and History — Insurance Awareness Questions & Practice

67 Insurance Awareness - Regulatory Bodies and History questions from Insurance Awareness for competitive exams such as UPSC, Banking, SSC and Railway. Read the worked questions below, check every answer with an explanation, and track what you get wrong. का अभ्यास करें

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Insurance Awareness - Regulatory Bodies and History पर अभ्यास प्रश्न — उत्तर सहित

Try each question first, then open the answer. Explanations are included.

1. Which of the following describes the Insurance Regulatory and Development Authority of India (IRDAI)?

  1. AThe statutory body that regulates and promotes the insurance industry in India
  2. BThe primary legislation governing the insurance sector in India
  3. CAn educational body that provides training and examinations for insurance professionals
  4. DAn entity licensed by IRDAI to process and settle health insurance claims on behalf of insurers
उत्तर दिखाएँ

उत्तर: A

'Insurance Regulatory and Development Authority of India (IRDAI)' relates to: The statutory body that regulates the insurance industry in India

2. What is the Insurance Regulatory and Development Authority of India (IRDAI) best known for?

  1. AThe Act that nationalized the life insurance business in India and created LIC
  2. BThe statutory body that regulates and promotes the insurance industry in India
  3. CThe primary legislation governing the insurance sector in India
  4. DThe regulatory body overseeing pension funds in India, including the National Pension System
उत्तर दिखाएँ

उत्तर: B

'Insurance Regulatory and Development Authority of India (IRDAI)' relates to: The statutory body that regulates the insurance industry in India

3. Which body or act is described as: 'The statutory body that regulates and promotes the insurance industry in India'?

  1. AEmployees' State Insurance Corporation (ESIC)
  2. BDeposit Insurance and Credit Guarantee Corporation (DICGC)
  3. CInsurance Regulatory and Development Authority of India (IRDAI)
  4. DGIC Re (General Insurance Corporation of India)
उत्तर दिखाएँ

उत्तर: C

This corresponds to 'Insurance Regulatory and Development Authority of India (IRDAI)'.

4. Identify the body/act: 'The statutory body that regulates and promotes the insurance industry in India'.

  1. ALife Insurance Corporation Act, 1956
  2. BInsurance Regulatory and Development Authority of India (IRDAI)
  3. CGeneral Insurance Business (Nationalisation) Act, 1972
  4. DInsurance Ombudsman
उत्तर दिखाएँ

उत्तर: B

This corresponds to 'Insurance Regulatory and Development Authority of India (IRDAI)'.

5. Which of the following describes the IRDA Act, 1999?

  1. AAn educational body that provides training and examinations for insurance professionals
  2. BThe Act that established the Insurance Regulatory and Development Authority of India
  3. CA representative body of all general insurance companies operating in India
  4. DAn Act that raised the foreign direct investment limit in the insurance sector to 49 percent
उत्तर दिखाएँ

उत्तर: B

'IRDA Act, 1999' relates to: The Act that established the Insurance Regulatory and Development Authority of India

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