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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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