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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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