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Category: IC14 REGULATION OF INSURANCE BUSINESS – 01

IC14 REGULATION OF INSURANCE BUSINESS – 01

Que. 1 : Q1) The minimum qualification required for an insurance agent in case he resides at a place where the population is 5000 or more is________________.

   1.  a) 10th standard or equivalent

   2.  b) 12th standard or equivalent

   3.  c) Graduate or equivalent

   4.  d) Education is not a criteria

Que. 2 : Q2) In 1956, the life insurance business was nationalised and the operations of companies were merged to form____________.

   1.  a) SBI Life Insurance Co.

   2.  b) Insurance Association of India

   3.  c) LIC of India

   4.  d) GIC of India

Que. 3 : Q3) Who can the complaint be under the pre-requisite conditions ?

   1.  a) The Insurer

   2.  b) An aggrieved individual who has taken an insurance policy

   3.  c) Proposer

   4.  d) The Policy holders collector

Que. 4 : Q4) How much is the minimum capital requirement for starting insurance business in India?

   1.  a) Rs 25 Crore

   2.  b) Rs 50 Crore

   3.  c) Rs 75 Crore

   4.  d) Rs 100 Crore

Que. 5 : Q5) The full form of GIBN is ________.

   1.  a) General Insurance Buy-out Notifications

   2.  b) General Insurance Bonus Nationalization

   3.  c) General Insurance Business Notification

   4.  d) General Insurance Business Nationalization