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. 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. 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 an objective of IRDA?

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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 institution’s mission is to protect the interests of holders of insurance policies?

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

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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 main function of the Insurance Association of 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 role of IRDA in the context of insurance business in India?

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Q. What is the primary purpose of insurance?

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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. According to Section 64L of the Insurance Act, 1938, what authority does the Executive Committee of the General Insurance Council have concerning the fees collected for enabling the discharge of its functions?

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Q. What are the functions of the Executive Committee of the General Insurance Council, as per Section 64L of the Insurance Act, 1938?

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Q. According to Section 64J of the Insurance Act, 1938, what is the Executive Committee of the Life Insurance Council authorized to do with regard to the IRDA?

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Q. As per Section 64J of the Insurance Act, 1938, what role does the Executive Committee of the Life Insurance Council play in regulating insurers' conduct?

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Q. What is the maximum duration for which the Executive Committee of the Life Insurance Council or the General Insurance Council can exist, as per Section 64H(1) of the Insurance Act, 1938?

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Q. According to Section 64J of the Insurance Act, 1938, what is one of the functions of the Executive Committee of the Life Insurance Council?

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Q. As per Section 64H(2) of the Insurance Act, 1938, what happens to the out-going members of the dissolved Executive Committee after the new Executive Committee is constituted?

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