IRDA Functions and Insurance Councils MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on IRDA Functions and Insurance Councils, 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 IRDA Functions and Insurance Councils 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 IRDA Functions and Insurance Councils mcq questions that explore various aspects of IRDA Functions and Insurance Councils problems. Each MCQ is crafted to challenge your understanding of IRDA Functions and Insurance Councils 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 IRDA Functions and Insurance Councils MCQs are your pathway to success in mastering this essential IC 14 Regulations of Insurance Business topic.

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IRDA Functions and Insurance Councils MCQs | Page 12 of 12

Discover more Topics under IC 14 Regulations of Insurance Business

Q111.
Choose the correct option to fill in the blank.

The duration of the Executive Committee of the Life Insurance Council or the General Insurance Council is ________ years from the date of its first meeting.

a.

One

b.

Two

c.

Three

d.

Four

Discuss
Answer: (c).Three Explanation:The duration of the Executive Committee of the Life Insurance Council or the General Insurance Council is three years from the date of its first meeting, on the expiry of which the Executive Committee is dissolved and a new Executive Committee is constituted.
Q112.
Whose function is to aid, advise and assist insurers carrying on life insurance business in the matter of setting up standards of conduct, sound practices and rendering efficient service to holders of life insurance policies?

a.

Executive Committee of the General Insurance Council of India

b.

Executive Committee of the Life Insurance Council of India

c.

Both of the above

d.

None of the above

Discuss
Answer: (b).Executive Committee of the Life Insurance Council of India Explanation:According to Section 64J of the Insurance Act 1938, it is a function of the Executive Committee of the Life Insurance Council.
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