Start learning →

UIIC AO — free MCQ practice

Choose from 221 questions across 3 subjects and 38 topics. Open any question for its answer and worked solution, or keep learning through bite-sized lessons and reviews with Quill.

Start learning UIIC AO with Quill →

UIIC AO subjects

Quantitative Aptitude (118)Reasoning (76)Insurance (27)

Explore popular topics

Simple InterestData InterpretationPercentagesCompound InterestAgesBoats and StreamsInterestPartnershipPipes and CisternsShortcutsSimple & Compound InterestCoding DecodingBlood RelationsStatement and ConclusionTime, Speed and DistanceInsurance IntermediariesInsurance Penetration and DensityInsurance Repository SystemIRDA Brief HistoryComposition of IRDAFinancial EducationFormation of IRDAGrievance RedressalIndustry ChallengesIndustry EntryInsurance Act 1938 — Accounts SeparationInsurance Act 1938 — Investment of AssetsInsurance Act 1938 — Life Insurance FundInsurance Advisory CommitteeIntermediaries — Statistics

Try a UIIC AO question

In which year was the Insurance Regulatory and Development Authority (IRDA) Act enacted?Read the answer and worked solution →On what date was the Insurance Regulatory and Development Authority formed as an autonomous regulatory body?Read the answer and worked solution →Who chaired the Committee on Reforms in the Insurance Sector that recommended opening insurance to private and foreign players?Read the answer and worked solution →How many members make up the Insurance Regulatory and Development Authority of India?Read the answer and worked solution →

Worked practice questions

In which year was the Insurance Regulatory and Development Authority (IRDA) Act enacted?

  1. 1999
  2. 1998
  3. 1996
  4. 2000
Show answer and solution

Correct answer: A. 1999

1. The IRDA Act was passed in 1999. 2. The Act came into force on 19 April 2000 when IRDA was formed. 3. Hence the year of enactment is 1999. _Source: IRDA Brochure (irdai.gov.in — official IRDAI publication) — "1999: Enactment of the Insurance Regulatory and Development Authority (IRDA) Act, 1999"_

Open this question →

On what date was the Insurance Regulatory and Development Authority formed as an autonomous regulatory body?

  1. 1 April 1999
  2. 19 April 2000
  3. 1 January 2001
  4. 26 December 2014
Show answer and solution

Correct answer: B. 19 April 2000

1. The IRDA Act 1999 came into force on a date appointed by the Central Government. 2. S.O.397(E) appointed 19 April 2000 as that date. 3. IRDA was formed as an autonomous regulator on 19.4.2000. _Source: IRDA Brochure (irdai.gov.in — official IRDAI publication) — "Formation of the Insurance Regulatory and Development Authority as an autonomous regulatory body on 19.4.2000"_

Open this question →

Who chaired the Committee on Reforms in the Insurance Sector that recommended opening insurance to private and foreign players?

  1. Y. V. Reddy
  2. Rangarajan
  3. R. N. Malhotra
  4. R. H. Patil
Show answer and solution

Correct answer: C. R. N. Malhotra

1. Insurance sector reforms followed the 1991 economic reforms. 2. In 1993 the Government set up a Committee on Reforms in the Insurance Sector. 3. It was headed by Shri R. N. Malhotra, retired Governor of the Reserve Bank of India. _Source: IRDA Brochure (irdai.gov.in — official IRDAI publication) — "1993: Committee on Reforms in the Insurance Sector, headed by Shri R. N. Malhotra (Retired Governor, Reserve Bank of India)"_

Open this question →

How to practise

  1. Choose a UIIC AO question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.