Insurance and Financial Market Awareness Quiz for LIC AAO – Set 14

Insurance and Financial Market Awareness Quiz for LIC AAO – Set 14 

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

 

1. What is the base year for the Consumer Price Index (CPI)?
   2008
   2010
   2011
   2012
   2018
   Option D
   The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of January 2015.

    

2. Which of the following is not a currency in SDR basket?
   U.S. Dollar
   Pound Sterling
   Chinese Yuan
   Swiss franc
   Euro
   Option D
   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.

    

3. The central bank requires the banks to publicly disclose financial and other information. This is the ___ pillar of Basel Norm?
   First
   Second
   Third
   Fourth
   None of these
   Option C
   Third Pillar i.e Market Discipline

    

4. For long duration crops, a loan is considered NPA when the instalment of principal remains unpaid for
   for two crop seasons
   for three crop seasons
   for one crop seasons
   for four crop seasons
   for four or more crop seasons
   Option B
   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.

    

5. A depository is an entity which helps an investor to buy or sell securities such as stocks and bonds in a paperless manner. How many depositories are there in India?
   1
   2
   3
   4
   5
   Option B
   In India, there are two depositories: Central Depository Services Ltd. (CDSL) and National Securities Depository Ltd (NSDL). There do not serve the investors directly. They serve through Depository Participants. A depository acts as a link between the shareholders and the listed company that issues shares. A depository eliminates the risk associated with holding physical securities.

    

6. The Reserve Bank of India has identified how many categories of Priority Sector?
   4
   5
   6
   7
   8
   Option E
   The Reserve Bank of India has identified these 8 categories as Priority Sector: Agriculture Micro, Small and Medium Enterprises Export Credit Education Housing Social Infrastructure Renewable Energy Others

    

7. Who regulates foreign exchange in India?
   SEBI
   MoF
   RBI
   IRDA
   PFRDA
   Option C
   RBI

    

8. What is the per transaction cap in UPI v2.0?
   Rs 1 lakh
   Rs 2 lakh
   Rs 3 lakh
   Rs 4 lakh
   Rs 5 alkh
   Option B
   With the release of UPI v2.0 a major change has been made in the per transaction cap that was earlier Rs 1 lakh. It has been increased to Rs 2 lakhs.

    

9. How many Insurance Ombudsman are functional in India?
   12
   13
   15
   17
   21
   Option D
   There are at present 17 Insurance Ombudsman in different locations

    

10. The board of IRDAI consists of how many members?
    5
    8
    10
    12
    21
    Option C
    IRDAI is a 10 member body consisting of Chairman ; 5 whole time member and 4 part time member