Question

What does the term "proportionate percentage" mean in the context of the first financial year for social sector obligations?

a.

A fixed percentage determined by the IRDA

b.

A percentage equivalent to the total population

c.

A percentage based on the period of operation

d.

A percentage determined by the insurer

Answer: (c).A percentage based on the period of operation Explanation:In the first financial year, where the period of operation is less than twelve months, the proportionate percentage or number of lives shall be undertaken for social sector obligations.

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Q. What does the term "proportionate percentage" mean in the context of the first financial year for social sector obligations?

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