Insurance and Financial Market Awareness Quiz for LIC AAO – Set 7

Insurance and Financial Market Awareness Quiz for LIC AAO – Set 7 

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. 

• Click on the Start button to start the Quiz timer. 
• Attempt all the questions.
• Click on Submit button. You will get your marks

Time Limit: 5 Minutes

 

1. The process of sale of public sector equity by the government from the public sector undertaking is known as?
   Privitisation
   Disinvestment
   Shifting
   Optimisation
   Upgradation
   Option B
   Disinvestment

    

2. RBI designates Lead Bank at the ______ level.
   State
   District
   Block
   Booth
   Area
   Option B
   District

    

3. Which type of banking units are exempted from CRR and SLR?
   SFB
   Payments Banks
   Differentiated Banks
   Overseas Banking Units
   WOS
   Option D
   These OBUs would be exempt from CRR, SLR and give access to SEZ units and SEZ developers to international finances at international rates.

    

4. Which of the following payment system is not managed by NPCI?
   UPI
   AEPS
   RTGS
   NACH
   All are managed by NPCI
   Option C
   RTGS is managed by RBI

    

5. Which of the following is not a principle of insurance
   Uberrima Fides
   Indemnity
   Subrogation
   Causa Proxima
   All are principle of insurance
   Option E
   

    

6. A ________ is an insurance company owned entirely by its policyholders.
   Community Scheme
   FORTE
   Shepherd Insurance Company
   Open Insurance
   Mutual Insurance Company
   Option E
   A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums.

    

7. Who is the regulator of Financial Benchmark India Pvt. Ltd (FBIL)?
   GoI
   RBI
   SEBI
   EXIM Bank
   NSE
   Option B
   FBIL is regulated by Reserve Bank of India for the activities of administering specific benchmarks. Its objective is to develop and administer India’s benchmarks relating to:Money Market, Government Securities and Foreign Exchange Market. FBIL is an entity jointly created by the financial benchmark administrators – FIMMDA and FEDAI and the IBA to administer financial benchmarks. It is owned by three organizations: FIMMDA (76%) FEDAI (14%) and IBA (10%)

    

8. What does the letter D denotes in TReDS?
   Debit
   Deposit
   Domain
   Developing
   Discounting
   Option E
   Trade Receivables Discounting System (TReDS)

    

9. An Insurance Ombudsman shall be appointed for a term of _____ years.
   2
   3
   4
   5
   6
   Option B
   An Ombudsman shall be appointed for a term of three years and shall be eligible for reappointment. Provided that no person shall hold office as an Ombudsman after he has attained the age of seventy years.

    

10. A decrease in the value of property over a period of time due to wear and tear or obsolescence is termed as ____________
    Depreciation
    Decrement
    Wear & Tear
    Divest
    Divulge
    Option A
    Depreciation