Q 1. What is the nature of the Constitution of India regarding the division of powers between the Centre and the States?
Q 2. Which list in the Indian Constitution includes insurance as a subject of exclusive legislative competence of the Centre?
Q 3. Which was the first British firm to establish life insurance in India?
Q 4. Which statutory measure was passed in India in 1912 to regulate the life insurance business?
Q 5. When was the first general insurance company, Triton Insurance Company Ltd., promoted in India by British nationals?
Q 6. Which was the first general insurance company established by an Indian?
Q 7. When was non-life insurance regulated in India through the passing of the Insurance Act?
Q 8. What is the definitive piece of legislation on insurance in India that controls both life insurance and general insurance?
Q 9. When was the general insurance business nationalized in India?
Q 10. What is the name of the entity established by the Central Government to secure the development and regulate the general insurance business in India?
Q 11. Which subsidiary company of the General Insurance Corporation (GIC) focuses on re-insurance business?
Q 12. In which year was the R. N. Malhotra Committee appointed by the Government of India to lay down the road map for opening up the insurance sector to private sector participation?
Q 13. Under which act was the Insurance Regulatory and Development Authority (IRDA) established in the year 2000?
Q 14. What is the maximum allowed foreign equity/ordinary sharing capital participation in an Indian insurance company as per the current FDI norms?
Q 15. Which councils are associated with the Insurance Association of India?
Q 16. Under which Act was the General Insurance Corporation of India (GIC) formed as a government company?
Q 17. What are the functions of the General Insurance Corporation (GIC) as stated in the General Insurance Business (Nationalisation) Act?
Q 18. According to the General Insurance Business (Nationalisation) Act, what was the purpose of establishing GIC as a holding company of subsidiary companies?
Q 19. How many Indian insurance companies were ultimately left as subsidiaries of GIC after the merger process?
Q 20. What role did GIC play in the reinsurance business according to the provisions of the General Insurance Business (Nationalisation) Act?
Q 21. Which business areas are currently undertaken by the General Insurance Corporation of India (GIC)?
Q 22. What was the purpose of delinking the subsidiary companies carrying on general insurance business from GIC?
Q 23. According to the provisions of the General Insurance Business (Nationalisation) Act, what happened to the share capital of insurance companies when GIBNA was enacted in 1972?
Q 24. Why was the General Insurance Corporation (GIC) made to operate only in the reinsurance arena?
Q 25. What administrative action was taken regarding the underwriting of civil aviation and crop insurance business by GIC?
Q 26. Which legislative body is empowered to regulate the insurance industry in India?
Q 27. Which was the first life insurance company to start operations in India?
Q 28. Which Act was passed in 1912 to regulate the life insurance business in India?
Q 29. When was the life insurance business nationalized in India, leading to the formation of the Life Insurance Corporation (LIC) of India?
Q 30. What was the year when reforms were initiated in the insurance sector, leading to the formation of the Insurance Regulatory and Development Authority (IRDA)?
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