Dispute Resolution Mechanism MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Dispute Resolution Mechanism, a fundamental topic in the field of IC 14 Regulations of Insurance Business. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Dispute Resolution Mechanism MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Dispute Resolution Mechanism mcq questions that explore various aspects of Dispute Resolution Mechanism problems. Each MCQ is crafted to challenge your understanding of Dispute Resolution Mechanism principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC 14 Regulations of Insurance Business tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Dispute Resolution Mechanism MCQs are your pathway to success in mastering this essential IC 14 Regulations of Insurance Business topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Dispute Resolution Mechanism. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Dispute Resolution Mechanism knowledge to the test? Let's get started with our carefully curated MCQs!

Dispute Resolution Mechanism MCQs | Page 6 of 6

Discover more Topics under IC 14 Regulations of Insurance Business

Discuss
Answer: (d).Remuneration paid by the life insurer to the Insurance Agent. Explanation:The Insurance Ombudsman deals with complaints related to insurance issues, including those mentioned in options a, b, and c, but not with remuneration paid to agents.
Q52.
As per the MWP Act who among the following are consumers for an insurance policy?
Discuss
Answer: (d).All of the above Explanation:According to the MWP Act, the policyholder, nominee, and beneficiary are all considered consumers of the insurance policy.
Q53.
Fill in the blank by choosing the correct option:

As per the Consumer Protection Act, 1986 the jurisdiction of a District Commission extends up to value of services and compensation not exceeding __________.
Discuss
Answer: (b).Rs 20 lakhs Explanation:The jurisdiction of a District Commission extends up to a value of services and compensation not exceeding Rs 20 lakhs according to the Consumer Protection Act, 1986.
Q54.
Fill in the blank by choosing the correct option:

An appeal in front of the State Commission against a decision of the District Forum must be within _________ days.
Discuss
Answer: (b).30 Explanation:An appeal against a District Forum's decision to the State Commission must be made within 30 days.
Q55.
Choose the correct option to fill in the blank:

The State Commission President should be a _____________.
Discuss
Answer: (b).High Court Judge Explanation:The State Commission President should be a High Court Judge.
Q56.
The Insurance Ombudsman can entertain complaints against the insurance company when the total amount of relief sought is less than Rs _______.
Discuss
Answer: (b).20 lakhs Explanation:The Insurance Ombudsman can entertain complaints when the total amount of relief sought is less than Rs 20 lakhs.
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