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    Question

    According to the Insurance Act an insurer shall be

    ineligible for registration unless he has ______________
    A Net owned funds amount to rupees five thousand crore Correct Answer Incorrect Answer
    B Net owned funds amount to rupees ten thousand crore Correct Answer Incorrect Answer
    C Net owned funds are not less than rupees five thousand crore Correct Answer Incorrect Answer
    D Gross owned funds are not less than rupees five thousand crore Correct Answer Incorrect Answer
    E Net owned funds are not less than rupees seven thousand crore Correct Answer Incorrect Answer

    Solution

    Section 6 Requirements as to capital - (2) No insurer, as defined in sub-clause (d) of clause (9) of section 2, shall be registered unless he has net owned funds of not less than rupees five thousand crore.

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