Q. As per IRDA (Life Insurance – Reinsurance Regulations) 2000, the reinsurer chosen by the insurer must enjoy a credit rating of a minimum of __________ of Standard and Poor or equivalent rating of any international rating agency.

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Q. What does IBNR in insurance business stand for?

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Q. For which of the following is it mandatory to purchase professional indemnity insurance?

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Q. Fill in the blank by choosing the correct option. The minimum capital required for a direct broker is __________, a reinsurance broker is ________ and composite broker is ________.

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Q. Fill in the blank by choosing the correct option. In the case of an insurance broker, the Principal Officer and persons soliciting and procuring business are required to undergo at least _________ hours of theoretical and practical training from an institution recognized by the Authority.

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Q. What the minimum qualification that the applicant for an insurance agent is required to possess for the areas that have a population of less than 5,000?

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Q. Which of the following describes a reinsurance broker?

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Q. Which of the following is not a fundamental objective of reinsurance of life and non-life insurances?

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Q. What is the fee charged by the Authority to issue a duplicate copy of licence to Corporate Agents?

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Q. In the case of insurance (individual) agent, the agents licence is granted / renewed for a period of ________ years.

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Q. What provision is required to be made by every general insurer for Incurred But Not Reported (IBNR) claims on the reinsurance accepted portfolio?

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Q. What is the requirement for general insurers in terms of outstanding claims provision for reinsurance arrangements?

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Q. Under what circumstances does the IRDA have the power to ask a General Insurer to justify its retention policy?

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Q. What is the policy regarding the maximum retention for general insurers?

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Q. Is it mandatory for every life insurer operating in India to have a programme of reinsurance for lives covered by them?

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Q. Which entities are required to maintain an "Insurance Bank Account' and a professional indemnity insurance cover?

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Q. Is there a ceiling on the proportion of business that insurance brokers and corporate agents can obtain from a single organization or person?

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Q. How long is a license issued to an insurance agent valid?

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Q. What is the minimum capital requirement for a direct broker, reinsurance broker, and composite broker?

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Q. What functions are included in the scope of brokers that go beyond corporate or individual agents?

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