Statement — The Insurance Act, 1938, and its amendment in 1950 have provided the regulatory framework for insurance business in India. Conclusions — I. The Insurance Act can be amended. II. The Insurance Act can be amended only after twelve years.
Verbal Reasoning
Statement and Conclusion
Difficulty: Easy
Choose an option
Answer
Correct Answer: if only conclusion I follows
Explanation
Introduction / Context:The statement explicitly mentions an amendment in 1950 to a 1938 Act. We test which conclusions necessarily follow.
Given Data / Assumptions:
- Historical fact: amendment occurred.
- No rule is stated about intervals between amendments.
Concept / Approach:From “amended in 1950,” it necessarily follows that the Act can be amended (I). Conclusion II asserts a fixed twelve-year wait between amendments, which is not stated or implied.
Step-by-Step Solution:
I: Directly supported by the occurrence of an amendment.II: Adds a specific interval rule absent from the premise → does not follow.Final Answer:Only conclusion I follows.