📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Azaadi sale - Celebrate Independence Day with Flat 55% Off On all courses! 13 to 17 Aug âš¡ Enroll Now

    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 fifteen 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.

    Practice Next
    More Administrative Interpretation and Maxims Questions

    Relevant for Exams:

    ask-question

    Not sure which exam is best for you Talk to our expert

    Get My Free Call