ECONOMICS
FINANCIAL MARKETS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Arbitrate in the disputes, which arises between the insurer and insured
|
|
|
To Provide suggestions to Nepal Government for the development of insurance business
|
|
|
Formulate necessary basis for the protection of interest of the insured
|
|
|
Register securities of insurance companies
|
Detailed explanation-1: -Supervises Insurance Sectors and Agriculture, Micro Insurance, Re-Insurance and Research as per the Insurance Act. Distribute License for the Insurer, Insurance Agents (Individual/Corporate), Surveyors (Individual/Corporate) as per the Insurance Act and functions as the Data Bank of the Beema Samiti.
Detailed explanation-2: -The functions of insurance are risk sharing, assisting in capital formation, economic progress, etc. Lending of funds is not a function of insurance.
Detailed explanation-3: -Protection is a function of insurance. Is to provide protection from probable chances of loss. Insurance cannot stop the happening of risk or any unforeseen event but can compensate for losses arising out of it.
Detailed explanation-4: -Answer: Lending funds is not a function of insurance. Among the given options option (c) lending funds is the correct answer.