Insurance and Financial Market Awareness Quiz for LIC AAO – Set 18

Insurance and Financial Market Awareness Quiz for LIC AAO – Set 18 

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. Who owns the Currency Chests?
   SBI
   RBI
   Government of India
   Any Public Sector Bank
   None of these
   Option B
   Current Chests are the extended arm of RBI for the purpose of storage of currency.

    

2. WHo issues participatory note?
   RBI
   SEBI
   FII
   GoI
   None of these
   Option C
   Participatory Notes (P-Notes) are instruments used by foreign funds and investors not registered with the SEBI to invest in Indian securities. They are generally issued overseas by associates of India based foreign brokerages (FPIs/FIIs) and domestic institutional investors.

    

3. Who can access the credit information report?
   Private Sector Banks
   Any Indian Citizen
   Those members who have provided all their data to CIBIL
   Public Sector Banks
   None of these
   Option C
   Those members who have provided all their data to CIBIL

    

4. ________ is an order of the court for attaching the funds.
   Garnishee
   Mandate
   PoA
   Set Off
   None of these
   Option A
   A garnishee order is a common form of enforcing a judgment debt against a creditor to recover money. Put simply, the court directs a third party that owes money to the judgement debtor to instead pay the judgment creditor.

    

5. Which of the following is the latest standards of CTS cheques?
   2009
   2005
   2010
   2015
   2018
   Option C
   CTS-2010 standards

    

6. A company can list its security on how many stock exchange?
   1
   2
   3
   4
   No such limit
   Option E
   

    

7. What percent of net bank credit is required to be paid by Scheduled Commercial banks in India to priority sector in advance?
   5%
   10%
   25%
   40%
   49%
   Option D
   Scheduled commercial banks and Foreign banks with 20 branches and above will pay 40 percent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher.

    

8. What is the minimum tenure for which NRE term deposit account can be opened?
   12 months
   06 months
   24 months
   48 months
   36 months
   Option A
   NRE Deposits can be accepted for a minimum tenure of 12 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.

    

9. You can approach Insurance Ombudsman if your Insurance Company did not respond to your complaint within ___ days.
   10
   20
   30
   50
   60
   Option C
   You can approach the Ombudsman with complaint if: You have first approached your insurance company with the complaint and; They have rejected it; Not resolved it to your satisfaction or; Not responded to it at all for 30 days

    

10. The date from which the annuity holder starts receiving the policy benefits of a regular stream of income is known as ________
    Penetration Date
    Coverage Date
    Annuity Date
    Vesting Date
    Final Date
    Option D
    This date marks the end of the accumulation phase and the start of the distribution phase of the annuity plan.