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Test: Insurance Business And Market - 2 - B Com MCQ


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10 Questions MCQ Test - Test: Insurance Business And Market - 2

Test: Insurance Business And Market - 2 for B Com 2024 is part of B Com preparation. The Test: Insurance Business And Market - 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Insurance Business And Market - 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Insurance Business And Market - 2 below.
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Test: Insurance Business And Market - 2 - Question 1

Which regulatory authority oversees insurance businesses and intermediaries in India?

Detailed Solution for Test: Insurance Business And Market - 2 - Question 1
The Insurance Regulatory and Development Authority of India (IRDA) is responsible for regulating insurance businesses and intermediaries in India. IRDA was established under the Insurance Regulatory and Development Authority Act of 1999 and derives its powers from the Insurance Act of 1938.
Test: Insurance Business And Market - 2 - Question 2

Which Indian insurer has the highest number of policyholders and agents?

Detailed Solution for Test: Insurance Business And Market - 2 - Question 2
Life Insurance Corporation of India (LIC) has the highest number of policyholders and agents in India. LIC is the largest life insurer in the country and is wholly owned by the Indian government.
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Test: Insurance Business And Market - 2 - Question 3

What is the minimum paid-up capital requirement for a reinsurer in India?

Detailed Solution for Test: Insurance Business And Market - 2 - Question 3
The minimum paid-up capital requirement for a reinsurer in India is INR 2 billion.
Test: Insurance Business And Market - 2 - Question 4
Which insurance company has been recognized as the "Most Trusted Private Life Insurer" for three consecutive years?
Detailed Solution for Test: Insurance Business And Market - 2 - Question 4
ICICI Prudential Life Insurance has been recognized as the "Most Trusted Private Life Insurer" for three consecutive years, reflecting its performance and growth in the life insurance sector.
Test: Insurance Business And Market - 2 - Question 5
What is the primary area of expertise for Bajaj Allianz General Insurance?
Detailed Solution for Test: Insurance Business And Market - 2 - Question 5
Bajaj Allianz General Insurance specializes in auto insurance. It is known for its wide range of automotive insurance products and services.
Test: Insurance Business And Market - 2 - Question 6
Which organization is the first India-based insurer to receive ISO 9001:2000 certification?
Detailed Solution for Test: Insurance Business And Market - 2 - Question 6
ICICI Lombard General Insurance is the first India-based insurer to receive ISO 9001:2000 certification, indicating its commitment to quality and service excellence.
Test: Insurance Business And Market - 2 - Question 7
What is the primary focus of Oriental Insurance?
Detailed Solution for Test: Insurance Business And Market - 2 - Question 7
Oriental Insurance primarily focuses on property insurance. It has a strong presence in the property insurance sector.
Test: Insurance Business And Market - 2 - Question 8
What is the minimum net owned funds required for a foreign company carrying on reinsurance business through a branch in India?
Detailed Solution for Test: Insurance Business And Market - 2 - Question 8
A foreign company carrying on reinsurance business through a branch in India is required to have a minimum net owned funds of INR 50 billion.
Test: Insurance Business And Market - 2 - Question 9
Which insurance company has its own distribution channel called "IFFCO-TOKIO Insurance Services Ltd"?
Detailed Solution for Test: Insurance Business And Market - 2 - Question 9
IFFCO TOKIO General Insurance has its own distribution channel called "IFFCO-TOKIO Insurance Services Ltd" for serving its retail clients.
Test: Insurance Business And Market - 2 - Question 10
Which insurance company operates in various domains such as general insurance, insurance claims management, reinsurance, and investment management?
Detailed Solution for Test: Insurance Business And Market - 2 - Question 10
ICICI Lombard General Insurance operates in various domains, including general insurance, insurance claims management, reinsurance, and investment management.
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