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Final PN-13 Corporate and Economic Laws Quiz 8

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Created on By CA Sonal Saboo

CMA Final

Final Corporate and Economic Laws PN-13 Quiz 8

This quiz is based on the CMA Corporate and Economic Laws paper.
Each question is multiple-choice with 4 options, and only 1 option is correct.
Attempt the quiz to test your understanding of CMA CEL concepts.

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Category: Corporate and Economic Laws PN - 13

1. An actuary is expected to:

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Category: Corporate and Economic Laws PN - 13

2. The principle of                         ensures that an insured does not profit by insuring with multiple insurers.

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Category: Corporate and Economic Laws PN - 13

3. IRDA shall, within                         after the close of each financial year, submit to the Central Government a report giving a true and full account of its activities including the activities for promotion and development of the insurance business during the previous financial year.

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Category: Corporate and Economic Laws PN - 13

4. The amount credited to The Insurance Regulatory and Development Authority Fund shall consist of:

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Category: Corporate and Economic Laws PN - 13

5. The Chairman of the Insurance Regulatory and Development Authority shall hold office for a term of from the date on which he enters upon his office and should be eligible for reappointment

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Category: Corporate and Economic Laws PN - 13

6. No insurer carrying on the business of life insurance and general insurance, shall be registered unless he has minimum paid up capital of  .

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Category: Corporate and Economic Laws PN - 13

7. IRDA was established in the year:

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Category: Corporate and Economic Laws PN - 13

8. Insurance business is regulated by:

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Category: Corporate and Economic Laws PN - 13

9. Insurance policy made by an insurer shall not be questioned after                 years.

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Category: Corporate and Economic Laws PN - 13

10. Actuarial valuation on life insurance business has to be done once in            

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Category: Corporate and Economic Laws PN - 13

11. in case of insurance company                       % of assets have to be remained invested in Govt. securities

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Category: Corporate and Economic Laws PN - 13

12. Officer appointed by Central Govt. is called:

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Category: Corporate and Economic Laws PN - 13

13. Banking Regulation Act was enacted in the year:

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Category: Corporate and Economic Laws PN - 13

14. Minimum paid up capital for a life insurance business is                 Crore

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Category: Corporate and Economic Laws PN - 13

15. According to Banking Regulation Act 1949, no Banking Company shall pay dividend on its shares until all its -

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Category: Corporate and Economic Laws PN - 13

16. Every Banking Company incorporated in India shall prepare a balance sheet and profit and loss account as on the last working day of the -

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Category: Corporate and Economic Laws PN - 13

17. Every banking company shall maintain liquid assets not less than                 % of the total time and demand liabilities.

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Category: Corporate and Economic Laws PN - 13

18. Amalgamation of banking companies require                    % voting of shareholders;

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Category: Corporate and Economic Laws PN - 13

19. The judicial authority under SARFESI is:

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Category: Corporate and Economic Laws PN - 13

20. Asset Reconstruction Companies are to be registered with:

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Category: Corporate and Economic Laws PN - 13

21. Banking companies cannot pay dividend unless following are completely written off.

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Category: Corporate and Economic Laws PN - 13

22. SLR stands for:

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Category: Corporate and Economic Laws PN - 13

23. Cash reserve ratio should be                          percent of the total time and demand liabilities

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Category: Corporate and Economic Laws PN - 13

24. Banking Regulation Act was enacted in the year:

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Category: Corporate and Economic Laws PN - 13

25. NPA stands for:

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