Q-20- Malhotra Committee was set up in _____
- 1991
- 1992
- 1993
- 1994
Option-3 R.N.Malhotra committee was set up in 1993.
Q-21- IRDA has prescribed the design and content of a proposal form through
- IRDA (Licensing of Agents) Regulations, 2000
- IRDA (Protection of Policyholders’ Interests) Regulations, 2002
- IRDA (Standard Proposal Form for Insurance) Regulations, 2013
- All of the above
Option-3 IRDA has prescribed the design and content of a proposal form through IRDA (Standard Proposal Form for Insurance) Regulations, 2013.
Q-22- R.N. Malhotra was____________
- Former Governor of the Reserve Bank of India
- Former Finance Minister
- Former Revenue Minister
- None of These
Option-1 R.N.Malhotra was former Governor of the Reserve Bank of India
Q-23- Insurance is legislated by
- Insurance Company
- State Government
- Central Government
- Government of India
Option-3 Insurance is legislated by central Government.
Q-24-Consider the following statements.
Statement-I- The Insurance Regulatory and Development Authority was set up in the year 2000.
Statement-II- The insurance industry of India is presently regulated under the IRDA Act, 1999.
Which of these statements is/are correct?
- Statement I is true
- Statement II is true
- Both statements are true
- Both statements are false
Option-3 Both statements are true
Q-25- The Malhotra Committee recommended introduction of a concept of _______in the insurance sector to make out a strong case for paying the way for foreign capital.
- Globalization
- Standardization
- Professionalization
- None of These
Option-3 Professionalization
Q-26- All are the IRDAI mission EXCEPT
- To protect the interest of and secure fair treatment to policyholders
- To take action where such standards are inadequate or ineffectively enforced
- To Market general insurance Product in such a manner, which make more profit to General insurance industry
- To set, promote, monitor and enforce high standards of integrity, financial soundness, fair dealing and competence of those it regulates
Option-2 IRDA mission is not to market general insurance product so as to make profit for Industry.
Q-27- Insurance tariff is framed by
- IIB
- IRDA
- TAC
- ISLA
Option-1 Insurance Information Bereau(IIB) framed Insurance tariff.
Q-28- All Insurance companies mandatory registered with IRDA
- True
- False
- Only PSU insurance companies are required
- Only Private insurance companies are required
Option-1 All insurance companies i.e both PSU & Private are required to registered under IRDAI
Q-29– Legislation gives which body the power to specify a code of conduct for surveyors and loss assessors?
- Life Insurance Council
- Securities and Exchange Board of India
- Institute of Insurance and Risk Management
- Insurance Regulatory and Development Authority
Option-4 IRDAI is having power to specify a code of conduct for surveyors and loss assessors.
Q-30- IRDA as a governing body to regulate
- Insurance of PSU insurance companies
- Insurance of Private insurance companies
- Both PSU & Private sectors insurance companies
- Can’t say
Option-3 IRDA as a regulatory body for regulating both PSU and Private sector insurance companies