Question
a.
Brokers should recommend the most expensive policy
b.
Brokers should only consider the commission earned
c.
Brokers should ensure that the policy proposed is suitable to the needs of the prospective client
d.
Brokers should prioritize their interests over the client's needs
Posted under IC 14 Regulations of Insurance Business
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What does the Code of Conduct prescribed by IRDA regulations for brokers emphasize regarding the suitability of a policy for the prospective client?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. When were Third Party Administrators (TPAs) introduced by the IRDA?
View solution
Q. What is the core service of a TPA in the health insurance sector?
View solution
Q. What is the minimum paid-up capital requirement for a company to function as a TPA?
View solution
Q. What is the minimum working capital requirement for a TPA at any point in its functioning?
View solution
Q. Who is required to be a qualified medical doctor registered with the Medical Council of India among the directors of a TPA?
View solution
Q. What is the non-refundable processing fee required for an application for a TPA license according to the regulations?
View solution
Q. How much is the license fee that every TPA shall pay to the Authority before the license is granted?
View solution
Q. What is the waiting period for a TPA whose application has been rejected by the Authority to reapply for a license?
View solution
Q. Within how many days of execution should a copy of the agreement between the TPA and the insurance company be filed with the Authority?
View solution
Q. How long does a TPA license granted by the Authority remain in force, unless revoked or canceled earlier?
View solution
Q. What is the renewal fee for a TPA license for a further period of three years?
View solution
Q. How many days prior to the date of expiry of the license should the renewal application be submitted?
View solution
Q. What late fee is applicable for a delayed renewal application, and what should it be accompanied by?
View solution
Q. Under what circumstances may the Authority accept a renewal application after the license has ceased to remain in force?
View solution
Q. What fee is required for issuing a duplicate license if the original license is lost or mutilated?
View solution
Q. Under what circumstances may the Authority initiate action under Regulation 13?
View solution
Q. What opportunity must the Authority provide before revoking or canceling a TPA's license under Regulation 13?
View solution
Q. What action should the insurance company take if a TPA's license is revoked or canceled?
View solution
Q. Within how many days can a TPA file a review application with the Authority after the revocation or cancellation of its license?
View solution
Q. Within what time frame should the Authority dispose of a review application filed by a TPA after the revocation or cancellation of its license?
View solution
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!
