Question

According to the IRDA Act, 1999 the Central Government shall, while appointing the Chairperson and the whole-time members, ensure that____________

A At least one person each is a person having knowledge or experience in life insurance, general insurance or actuarial science Correct Answer Incorrect Answer
B At least one person each is a person having knowledge and experience in life insurance, general insurance or actuarial science Correct Answer Incorrect Answer
C At least one person each is a person having experience of not less than 10 years in life insurance, general insurance or actuarial science Correct Answer Incorrect Answer
D The recommendation of CAG has been taken into account Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Section 4.   Composition of Authority- Provided that the Central Government shall, while appointing the Chairperson and the whole-time members, ensure that at least one person each is a person having knowledge or experience in life insurance, general insurance or actuarial science, respectively

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