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      Question

       In which of the following year the Insurance

      Amendment Act abolished Principal Agencies?
      A 1945 Correct Answer Incorrect Answer
      B 1948 Correct Answer Incorrect Answer
      C 1950 Correct Answer Incorrect Answer
      D 1952 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      The Insurance Amendment Act of 1950 abolished Principal Agencies. However, there were a large number of insurance companies and the level of competition was high.

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