IBPS PO General Awareness: Insurance & Risk Management questions with solutions

Q1. As per IRDAI, which criteria is used to identify Domestic Systemically Important Insurers (D-SIIs)?

1. Number of Branches
2. Market Share
3. All of the above
4. Public Sector

Answer: All of the above

IRDAI identifies Domestic Systemically Important Insurers based on criteria including market share (size), number of branches (distribution reach), and public sector status (systemic importance). All options listed are used.

Q2. Which of the following regulates the Insurance Industry?

1. Reserve Bank of India (R.B.I.)
2. Securities and Exchange Board of India (S.E.B.I.)
3. Insurance Regulatory and Development Authority (I.R.D.A.)
4. Association of Mutual Funds in India (A.M.F.I.)

Answer: Insurance Regulatory and Development Authority (I.R.D.A.)

The Insurance Regulatory and Development Authority of India (IRDAI) regulates the insurance industry in India. It was established under the IRDA Act, 1999. RBI regulates banks, SEBI regulates securities markets, and AMFI is the association body for mutual funds.