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    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

    At least one person each is a person having knowledge or experience in life insurance, general insurance or actuarial science, Explanation: 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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