Insurance
Question : Who took charge as the chairman of The Insurance Regulatory and Development Authority of India in March 2022?
Option 1: Debasish Panda
Option 2: Ajay Bhushan Pandey
Option 3: Sanjeev Sanyal
Option 4: Ashwin Yardi
Correct Answer: Debasish Panda
Solution : The Correct Option is Debasish Panda
Shri Debasish Panda is an Indian Administrative Service officer from the Uttar Pradesh cadre, class of 1987. Odisha is the State he is from. On March 14, 2022, he began serving as Chairman of the Insurance Regulatory and
Question : In 2019, the Export Credit Guarantee Corporation of India (ECGC) introduced the Export Credit Insurance Scheme(ECIS) called ______.
Option 1: NIRANKUSH
Option 2: NIRUKT
Option 3: NIRVAY
Option 4: NIRVIK
Correct Answer: NIRVIK
Solution : The correct answer is NIRVIK.
NIRVIK stands for Niryat Rin Vikas Yojana. The scheme was announced by the Export Credit Insurance Scheme (ECIS) to enhance loan availability and ease the lending process. The scheme was introduced to provide enhanced insurance coverage and reduce the
Question : In which city is the head office of the Insurance Regulatory and Development Authority of India (IRDAI) situated?
Option 1: Hyderabad
Option 2: Mumbai
Option 3: Kolkata
Option 4: New Delhi
Correct Answer: Hyderabad
Solution : The correct option is Hyderabad
The head office of the Insurance Regulatory and Development Authority of India (IRDAI) is located in Hyderabad, Telangana, India. It was established by the Government of India in 1999 as an autonomous and statutory body. The primary objective of IRDAI
Question : Directions: Study the given diagram carefully and answer the question. The numbers in different sections indicate the number of persons.
How many men are sales executives in the insurance industry?
Option 1: 47
Option 2: 33
Option 3: 31
Option 4: 39
Correct Answer: 31
Solution : In the diagram, the shaded parts represent the men who are sales executives in the insurance industry.
Thus, the number of men who are sales executives in the insurance industry = 31. Hence, the third option is correct.
Question : Who is the regulator of the insurance sector in India?
Option 1: IRDAI
Option 2: RBI
Option 3: SEBI
Option 4: PFRDA
Correct Answer: IRDAI
Solution : The correct answer is (a) IRDAI (Insurance Regulatory and Development Authority of India).
The Insurance Regulatory and Development Authority of India (IRDAI) is the regulatory body responsible for overseeing and regulating the insurance industry in India. It was established in 1999 under the Insurance Regulatory
Question : The novel Self-Help Group Bank Linkage Program (SHG-BLP) project, which grew into a dominant microfinance model, was piloted by ________.
Option 1: The National Bank for Agriculture and Rural Development
Option 2: Micro Finance Institutions
Option 3: The Insurance Regulatory and Development Authority
Option 4: The Securities and Exchange Board of India
Correct Answer: The National Bank for Agriculture and Rural Development
Solution : The correct answer is The National Bank for Agriculture and Rural Development.
The Self-Help Group Bank linkage program (SHG-BLP) is a major part of the strategy for delivering financial services to marginalised people in India. It was initiated
Question : Which total cost is highlighted in the given statement? Statement: It does not vary directly with level of output like rent or insurance.
Option 1: Fixed cost
Option 2: Variable cost
Option 3: Semi variable cost
Option 4: None of the above
Correct Answer: Fixed cost
Solution : Total cost includes three types of cost fixed costs, variable costs and semi variable costs. Fixed cost does not varies directly with level of output like rent or insurance. Variable cost varies directly with output like payment for raw material, wages, power,etc. Semi variable
Question : Insurance sector in India is regulated by:
Option 1: RBI
Option 2: CII
Option 3: IRDA
Option 4: SEBI
Correct Answer: IRDA
Solution : The correct option is IRDA.
The Insurance Regulatory and Development Authority of India (IRDAI) oversees the insurance industry in India.. According to the Insurance Regulatory and Development Authority Act of 1999, IRDAI is a self-governing, statutory organization. In addition to ensuring fair practices, defending the
Question : Sun pharma Ltd., reported Net Profit after Tax of Rs. 6,10,000 for the year ended 31 st March, 2020. The relevant extract from Balance Sheet as at 31 st March, 2020 is:
Depreciation charged on Plant and Machinery Rs. 55,000, tax provided during the year Rs 15,000 and insurance claim received Rs. 50,000, gain (profit) on sale of investment Rs. 20,000 appeared in the Statement of Profit and Loss for the year ended 31st March, 2020.
Cash Flow from Operating Activities are ____________.
Option 1: Rs 6,36,000
Option 2: Rs 6,66,000
Option 3: Rs 6,96,000
Option 4: Rs 6,86,000
Correct Answer: Rs 6,86,000
Solution : Answer = Rs 6,86,000
Question : Which of the following institutions regulates and supervises the functioning of insurance companies in India?
Option 1: Reserve Bank of India (RBI)
Option 2: Insurance Regulatory and Development Authority of India (IRDAI)
Option 3: Securities and Exchange Board of India (SEBI)
Correct Answer: Insurance Regulatory and Development Authority of India (IRDAI)
Solution : The correct answer is (b) Insurance Regulatory and Development Authority of India (IRDAI)
The Insurance Regulatory and Development Authority of India (IRDAI) is the regulatory body responsible for regulating and supervising the functioning of insurance companies in India.
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