Q. When is the applicable NAV determined for applications received with local cheques, cash, or demand drafts?

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Q. What is the procedure for determining the applicable NAV for applications received on the last business day of the Financial Year?

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Q. What is the responsibility of the internal/concurrent auditor related to the reconciliation of product and fund information?

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Q. What is the applicable NAV for applications received after Cut-off Time (3.00pm) on a business day?

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Q. What does the insurer need to reconcile on a day-to-day basis for Unit-linked business?

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Q. What is the requirement for applications received with local cheques, cash, or demand drafts after Cut-off Time (3.00 pm) on a business day?

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Q. What is the basis for determining the applicable NAV for allotment of units?

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Q. What does a "Business Day" mean?

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Q. What is the frequency for reviewing the Investment Risk Management Systems and Process?

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Q. What is required to be filed with the Authority along with the first quarter Returns regarding the Investment Risk Management Systems and Process?

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Q. What is the responsibility of the board regarding the Investment Risk Management System and process?

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Q. Who is typically expected to head the Audit Committee of the Board?

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Q. What is the responsibility of the Internal or Concurrent Auditor with regard to investment transactions?

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Q. What should be covered in the quarterly Internal/Concurrent audit report?

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Q. What details should be included in the reports to be placed before the Board's Audit Committee?

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Q. What category of investments is an insurer expected to invest in?

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Q. How should the accounting of investments be conducted according to Regulation 14(a)?

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Q. What authority does the IRDA have in modifying or changing regulations for insurers?

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Q. What is the scope of dealing in financial derivatives for insurers according to Regulation 15(a)?

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Q. How should margins or unamortized premiums paid in connection with financial derivatives be treated as per Regulation 15(b)?

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