Fees payable to the IRDA for issue of licence to act as an agent of an insurance company are

A. Rs.500

B. Rs.100

C. Rs.250

D. Rs.1000

Answer: Option C

Solution(By Examveda Team)

Rs. 250 is the fees payable to the Authority for issue/ renewal of licence to act as an insurance agent or composite insurance agent. The Authority may issue duplicate licence in case it is lost. If an agent is found guilty of criminal misappropriation the designated person will cancel the license.