New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What is the tenure for the Chairperson and other

    whole-time members of the Authority, according to the IRDA Act?
    A Three years with the possibility of extension Correct Answer Incorrect Answer
    B Five years with the option of reappointment Correct Answer Incorrect Answer
    C Ten years without the possibility of reappointment Correct Answer Incorrect Answer
    D Until the age of sixty-five, regardless of tenure Correct Answer Incorrect Answer

    Solution

    Section 5.   Tenure of office of Chairperson and other members: (1) The Chairperson and every other whole-time member shall hold office for a term of five years from the date on which he enters upon his office and shall be eligible for reappointment: Provided that no person shall hold office as a Chairperson after he has attained the age of sixty-five years: Provided further that no person shall hold office as a whole-time member after he has attained the age of sixty-two years.

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