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Qualification : Regulation 4 of the Regulations requires that a person desiring to obtain or renew a license to act as an insurance agent or a composite insurance agent shall possess the minimum qualification of a pass in 12th standard or equivalent examination conducted by any recognized Board/Institution where the applicant resides in a place with a population of five thousand or more as per the last census, and a pass in 10th standard or equivalent examination from a recognized Board/Institution if the applicant resides in any other place.
According to regulation 5 of the regulations the person desiring to obtain or renew a license to act as an agent is required to (i) complete from an approved institution,at least,one hundred hours practical training in life or general insurance business as the case may be which may be spread over three to four weeks, where such person is seeking licence for the first time to act as insurance agent and (ii) complete from an approved institution at least one hundred fifty hours,practical training in life and general insurance business,which may be spread over six to eight weeks,where such applicant is seeking licence for the first time to act as a composite insurance agent. A person taking examination is required to satisfy the requirements of regulations as explained above.
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