Question

Which organizations are eligible to be appointed as Corporate Agents according to IRDA regulations?

a.

Only profit-oriented entities

b.

Only government-owned entities

c.

A wide range of entities including NGOs, cooperative banks, and entities specifically approved by the Authority

d.

Only insurance companies

Answer: (c).A wide range of entities including NGOs, cooperative banks, and entities specifically approved by the Authority Explanation:Corporate Agents can include a variety of entities such as NGOs, cooperative banks, and others specifically approved by the Authority, not limited to profit-oriented or government-owned entities.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Which organizations are eligible to be appointed as Corporate Agents according to IRDA regulations?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. In what circumstances is a minimum qualification of 10th standard required for Agents?

Q. Can an individual be granted an Insurance Broker license according to IRDA regulations?

Q. Who has the authority for issuing licenses to Insurance Brokers according to regulations?

Q. How are licenses for Corporate Agents issued and renewed?

Q. Who is authorized to issue and renew licenses for Agents?

Q. What qualifications are required for the Principal Officer of an Insurance Broker?

Q. What qualification is required for a Corporate Insurance Executive representing a Corporate Agent?

Q. What qualifications are necessary for an Individual Agent to solicit and procure business?

Q. What are the functions of an Insurance Broker according to the Regulations?

Q. How does a corporate agent identify themselves with the insurance company they represent?

Q. How does an individual agent identify themselves with the insurance company they represent?

Q. What disqualifications are applicable to applicants for an Insurance Broker license?

Q. What disqualifications are applicable to both corporate agents and individual agents?

Q. What is the mandatory training requirement for the Principal Officer and persons soliciting and procuring business in the case of Insurance Brokers?

Q. Where is the training and examination conducted for the Principal Officer and persons soliciting and procuring business in the case of Insurance Brokers?

Q. What are the training and examination requirements for corporate agents as per Regulation 5?

Q. Is there any specified capital requirement for corporate and individual agents according to the regulations?

Q. What is the validity period of an Insurance Broker license once issued?

Q. How long does a license granted by the Authority to a corporate agent remain in force?

Q. What is the duration of an agent license, including renewals?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 14 Regulations of Insurance Business? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!