Question

Arrange the following Financial Acts in chronological order-
A. Security and Exchange Board of India Act
B. Unit Trust of India Act
C. Companies Act
D. Insurance Regulatory and Development Authority Act
E. Indian Contract Act
Choose the correct answer from the options given below:

• A. A, B, C, D, E
• B. B, C, D, E, A
• C. C, D, E, A, B
• D. E, C, B, A, D

Hint:

Remembering important years of major Acts helps solve chronology-based questions quickly in competitive examinations.

Answer 1

The Correct Option is D

Concept:
Chronological arrangement questions require arranging events or Acts according to their year of enactment from earliest to latest.

Step 1: Identify the year of each Act.
• Indian Contract Act -- \(1872\)
• Companies Act -- \(1956\)
• Unit Trust of India Act -- \(1963\)
• SEBI Act -- \(1992\)
• IRDA Act -- \(1999\)

Step 2: Arrange the Acts chronologically. Arranging from earliest to latest: \[ 1872 \rightarrow 1956 \rightarrow 1963 \rightarrow 1992 \rightarrow 1999 \] Therefore, the correct sequence becomes: \[ E, C, B, A, D \]

Step 3: Understand the importance of these Acts.
• Indian Contract Act -- Governs contracts in India
• Companies Act -- Regulates companies
• UTI Act -- Established Unit Trust of India
• SEBI Act -- Regulates securities market
• IRDA Act -- Regulates insurance sector

Step 4: Match with the given options. The sequence: \[ E, C, B, A, D \] matches option (D).

Step 5: Conclusion. Therefore, the correct answer is: \[ \boxed{E, C, B, A, D} \]