n NISM Certifications
NSM General NISM
Medium

What is true regarding the binding nature of the Ombudsman’s award?

Practice question from IC 38 Mock Test 18 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Binding only on complainant

  2. Binding on insurer and insured

    Correct answer

  3. C

    Only advisory, not binding

  4. D

    Can be overruled by regulator

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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