Insurance and Financial Market Awareness Quiz for LIC AAO – Set 13

Insurance and Financial Market Awareness Quiz for LIC AAO – Set 13

This is Insurance and Financial Market Awareness Test Series for LIC AAO 2019 Mains exam. Attempt all our quizzes for LIC AAO and score the best marks.

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Time Limit: 5 Minutes

The first paper currency issued by RBI was of which denomination?
Rs 1

Rs 2

Rs 5

Rs 10

Rs 100

Option C
The Rs 5-note was the first paper currency issued by RBI in January 1938. It had the portrait of George VI.
The SDR basket consists of how many currencies?
3

4

5

6

7

Option C
Special Drawing Right (SDR) – The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Currency – U.S. Dollar, Euro, Chinese Yuan, Japanese Yen and Pound Sterling.
The Basel norm defines how many tiers of capital?
1

2

3

4

5

Option B
A bank’s capital consists of tier 1 capital and tier 2 capital, and the two types of capital are different. Tier 1 capital is the primary funding source of the bank.Tier 2 capital includes revaluation reserves, hybrid capital instruments and subordinated term debt, general loan-loss reserves, and undisclosed reserves.
For short duration crops, a loan is considered NPA when the instalment of principal remains unpaid for
for two crop seasons

for one crop seasons

for three crop seasons

for four crop seasons

for four or more crop seasons

Option A
For short duration crops- the installment of principal or interest thereon remains overdue for two crop seasons. For long duration crops- the installment of principal or interest thereon remains overdue for one crop season.
Presently there are how many SEBI recognised Stock Exchange in India?
2

3

5

7

8

Option D
Presently there are seven SEBI recognised Stock Exchange in India. These are: BSE Ltd., Calcutta Stock Exchange Ltd. , India International Exchange (India INX), Magadh Stock Exchange Ltd., Metropolitan Stock Exchange of India Ltd., National Stock Exchange of India Ltd. and NSE IFSC Ltd.
What is the lot size of Priority Sector Lending Certificates (PSLCs)?
Rs 10 lakhs

Rs 20 lakhs

Rs 25 lakhs

Rs 30 lakhs

Rs 50 lakhs

Option C
The PSLCs would have a standard lot size of ₹ 25 lakh and multiples thereof.
To commence or operate a payment system in India, one needs the approval of ______.
NPCI

SEBI

RBI

Both RBI and NPCI

RBI and SEBI

Option C
In terms of Section 4 of the PSS Act, no person other than the Reserve Bank of India (RBI) can commence or operate a payment system in India unless authorised by RBI.
UPI is built over the ______ infrastructure and is available 24 * 7 *365.
NEFT

RTGS

IMPS

P2F

All of these

Option C
UPI is built over the IMPS infrastructure and is available 24 * 7 *365.
‘E@Secure’ is a cyber insurance policy for individuals launched by which company?
Bajaj Allianz General Insurance

ICICI Lombard

HDFC Ergo

TATA AIG

SBI Life Insurance

Option C
HDFC Ergo
The Insurance Regulatory and Development Authority (IRDA) was formed on the recommendation of which committee?
Banarji Committee

Malhotra Committee

Gupte Committee

Sharma Committee

Kutumbe Committee

Option B
In 1993, the Government set up a committee under the chairmanship of RN Malhotra, former Governor of RBI, to propose recommendations for reforms in the insurance. Following the recommendations of the Malhotra Committee report, in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry.