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      Question

      According to the LIC Act, 1956, which fund does the

      Corporation maintain for carrying out its insurance business?
      A Contingency fund Correct Answer Incorrect Answer
      B General reserve fund Correct Answer Incorrect Answer
      C Life Insurance Fund Correct Answer Incorrect Answer
      D Sinking fund Correct Answer Incorrect Answer
      E Capital fund Correct Answer Incorrect Answer

      Solution

      Answer: Option C Explanation: The Life Insurance Fund established under Section 21 is used to carry out the insurance business.

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