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

View solution

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

View solution

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

View solution

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?

View solution

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

View solution

Q. What does a "Business Day" mean?

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

Q. Which of the following is NOT considered an Approved Investment for Life Insurers?

View solution

Q. What additional investments are deemed as approved by the Authority for Life Insurers under Section 27A of the Act?

View solution