Final PN-13 Corporate and Economic Laws Quiz 8

An actuary is expected to:

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

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.

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

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

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

IRDA was established in the year:

Insurance business is regulated by:

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

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

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

Officer appointed by Central Govt. is called:

Banking Regulation Act was enacted in the year:

Minimum paid up capital for a life insurance business is                 Crore

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

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

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

Amalgamation of banking companies require                    % voting of shareholders;

The judicial authority under SARFESI is:

Asset Reconstruction Companies are to be registered with:

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

SLR stands for:

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

Banking Regulation Act was enacted in the year:

NPA stands for: