Which of the following type/s of company/ies is/are defined by Investment company act?
A. Face amount certificate companies
B. Unit investment trust companies
C. Blue chip companies
D. All of these
Which one of the following statements elaborates some insurance products that fall under the regulatory authority of SEC?
A. Investment based insurance products
B. Agents selling investment based insurance products
C. Term insurance products
D. Only AandB
Some specific requirement of securities Exchange Act of 1934 are all of the following EXCEPT:
A. Credit Regulations
B. Manipulation and Deception
C. Insider rules
D. Articles of incorporation
Insiders are generally barred from:
A. Short-Selling
B. Hedging
C. OTC
D. None of these
A major function of NAIC is to encourage __________ among state insurance departments through the development of model bills and regulations.
A. Consistency
B. Uniformity
C. Regularity
D. All of these
Issuance of licenses to insurance agents is one of the responsibilities of:
A. European Central bank (ECB)
B. National Association of Issuance Commissioners
C. Insurance Commission
D. Securities and Exchange Commission
The mission of the NAIC is to assist State Insurance regulators, individually and collectively, in serving the public interest and achieving all the following fundamental insurance regulatory goals in a responsive, efficient and cost effective manner, consistent with the wishes of its members EXCEPT:
A. Protect the public interest
B. Promote competitive markets
C. Support and improve State regulation of insurance
D. None of these
Which of the following is/ are the responsibility /ies of state insurance commission:
A. Making the State's insurance rules and regulations
B. Authorizing companies to operate in the state through the issuance rules and regulations
C. Authorizing companies to operate in the state through the issuance of licenses andcertificates of authority
D. Both of these
E. None of these
The primary component of the McCarran-Ferguson Act is/are:
A. To allow states to retain the right to regulate the insurance industry
B. To allow the federal government to assume regulation of the insurance industry if Congress feels that the state regulation is inadequate or does not serve the public interest
C. Both of these
D. None of these
ECB performs all these tasks EXCEPT:
A. Defining and implementing monetary policy for the euro area
B. Conducting Foreign Exchange operations
C. Making the Euro area's insurance rules and regulations
D. Promoting the smooth operations of payment system
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