2026 ELITE CERTIFICATION PROTOCOL
Mastery: IRDAI Grade A Practice Test 2026 | Exam Prep
Timed mock exams, detailed analytics, and practice drills for Mastery: IRDAI Grade A.
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Q1Domain Verified
Under the IRDAI Act, 1999, the "Appointed Day" is a critical concept that marks the commencement of the Authority's regulatory powers. What specific event does the "Appointed Day" refer to?
The day the Tariff Advisory Committee was dissolved and its functions were transferred to IRDAI.
The day the IRDAI was formally constituted as a body corporate.
The day the Insurance Regulatory and Development Authority Bill was introduced in Parliament.
The day the Chairman and whole-time members of IRDAI were appointed by the Central Government.
Q2Domain Verified
In the context of the "Insurance Sector & IRDAI Act Mastery Hub," a key principle for maintaining market stability is the "File and Use" procedure for general insurance products. Which of the following scenarios represents a CORRECT application of this procedure as per current IRDAI regulations?
An insurer files the product details with the IRDAI, uses the product only after receiving explicit written approval from the Authority, and then submits post-launch data for monitoring.
An insurer files the product details and its adherence to board-approved underwriting policy with the IRDAI, can use the product from the date of filing, and must submit first-year performance data.
An insurer launches a new health insurance product immediately after filing its details with the IRDAI, assuming tacit approval if no objection is received within 15 days.
An insurer seeks prior approval for the product's pricing and policy wording, and upon approval, files the final product for record before launching it in the market.
Q3Domain Verified
The IRDAI Act empowers the Authority to issue directions to insurers in certain circumstances. From a mastery perspective, which of the following situations would MOST WARRANT the IRDAI issuing a direction under Section 14(2)(i) to protect policyholders' interests?
An insurer reports a one-quarter decline in profit due to high claims from a catastrophic event.
An insurer consistently achieves a high combined ratio, indicating operational efficiency.
An insurer introduces a innovative, technology-driven distribution channel that reduces acquisition costs.
An insurer is found to have a persistent and material deviation from its approved solvency margin, risking its ability to meet future liabilities.
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This domain protocol is rigorously covered in our 2026 Elite Framework. Every mock reflects direct alignment with the official assessment criteria to eliminate performance gaps.
This domain protocol is rigorously covered in our 2026 Elite Framework. Every mock reflects direct alignment with the official assessment criteria to eliminate performance gaps.
This domain protocol is rigorously covered in our 2026 Elite Framework. Every mock reflects direct alignment with the official assessment criteria to eliminate performance gaps.
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