Insurance - Study Mode

[#131] _________, who represents the interests of the insured in searching for insurance coverage at the lowest cost and highest benefit to the insured.
Correct Answer

(C) Broker

Explanation

Solution: Broker is the person who represents the interests of the insured in searching for insurance coverage at the lowest cost and highest benefit to the insured.

[#132] UHIS has launched by the Government of India is already in existence for persons and families below the poverty line with the element of subsidy from the Government. UHIS stands for-
Correct Answer

(C) Universal Health Insurance Scheme

Explanation

Solution: The Universal Health Insurance Scheme (UHIS) launched by the Government of India w.e.f. 14.7.2003 is already in existence for persons and families below the poverty line with element of subsidy from the Government.

[#133] Agriculture Insurance Company of India Limited (AIC) was incorporated in which year?
Correct Answer

(B) 20th December 2002

Explanation

Solution: Agriculture Insurance Company of India Limited was incorporated under the Indian Companies Act 1956 on 20th December, 2002 with an authorised share capital of INR 15 billion and paid up capital of INR 2 billion. AIC commenced business from 1st April, 2003.

[#134] Nippon Life Insurance has signed definitive agreements to invest Rs 2,265 crore (US$ 332.32 million in order to increase its stake in Reliance Life Insurance from 26 per cent to 49 per cent. Nippon Life Insurance based in-
Correct Answer

(B) Japan

Explanation

Solution: Nippon Life Insurance has signed definitive agreements to invest Rs 2,265 crore (US$ 332.32 million in order to increase its stake in Reliance Life Insurance from 26 per cent to 49 per cent. Nippon Life Insurance based in- Japan.

[#135] Which among the following companies has not contributed towards the share capital of Agriculture Insurance Company of India Limited (AIC)?
Correct Answer

(A) Insurance Regulatory and Development Authority of India (IRDAI)

Explanation

Solution: Insurance Regulatory and Development Authority of India (IRDAI) has not contributed towards the share capital of Agriculture Insurance Company of India Limited (AIC).