Q. As per Section 64N of the Insurance Act, 1938, what powers do the Executive Committees of the Life Insurance Council and the General Insurance Council have in certain cases?

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Q. What is the primary purpose of insurance?

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Q. What is the role of IRDA in the context of insurance business in India?

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Q. What are the objectives of the Life Insurance Council's Executive Committee?

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Q. What is the main function of the Insurance Association of India?

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Q. How long is the duration of the Executive Committee of the General Insurance Council?

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Q. What is the significance of the No Fault Liability concept?

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Q. Which of the following institution’s mission is to protect the interests of holders of insurance policies?

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Q. The Insurance Association of India consists of _______

i. Members: All insurers that are incorporated or domiciled in India.
ii. Members: All insurers incorporated and domiciled outside India
iii. Associate members: all insurers incorporated and domiciled outside India
iv. Associate members: insurers that are incorporated or domiciled in India
Which of the following options is correct?

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Q. Which of the following is not an objective of IRDA?

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Q. Which of the following is a duty of the IRDA?

i. Protection of the interests of the policyholders in matters concerning assigning of policy, nomination by policyholders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance.
ii. Specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents.
iii. Specifying the code of conduct for surveyors and loss assessors.

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Q. Which of the following is not among the Insurance Councils mentioned in Section 64C of the Insurance Act, 1938?

i. The Life Insurance Council of India
ii. The Health Insurance Council of India
iii. The General Insurance Council of India

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Q. Choose the correct option to fill in the blank.

The duration of the Executive Committee of the Life Insurance Council or the General Insurance Council is ________ years from the date of its first meeting.

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Q. Whose function is to aid, advise and assist insurers carrying on life insurance business in the matter of setting up standards of conduct, sound practices and rendering efficient service to holders of life insurance policies?

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