Insurance and Financial Market Awareness Quiz for LIC AAO – Set 8

Insurance and Financial Market Awareness Quiz for LIC AAO – Set 8 

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. Which fund was used for channelization of funds received from disinvestment of Central Public Sector Enterprises (CPSE)
   Consolidated Fund of India
   Dis vestment Fund of India
   Expense Fund of India
   National Investment Fund
   Corporate Fund of India
   Option D
   The Purpose of the fund was to receive disinvestment proceeds of central public sector enterprises and to invest the same to generate earnings without depleting the corpus. In 2013, CCEA in its meeting held on 17 January, 2013 and 21 February, 2013 restructured the NIF and decided to do away with the management of the disinvestment proceeds by the Fund Managers of NIF. It was decided by CCEA that the entire disinvestment proceeds from 01.04.2013 will be credited to the existing ‘Public Account’ under the head NIF and they would remain there until withdrawn/invested for the approved purpose. The allocations out of the NIF will be decided in the annual Government Budget.

    

2. Which of the following is an example of Differentiated Bank?
   RBI
   SBI
   SFB
   Cooperative Bank
   All of these
   Option C
   Small Finance Banks and Payments Bank

    

3. Who manages NEFT?
   NPCI
   RBI
   SBI
   Any Bank
   It is decentralised
   Option B
   RBI

    

4. Mutual Funds which invest exclusively in government securities are known as _____.
   Debt Fund
   Floating Rate Fund
   Gilt Fund
   Fixed Maturity Fund
   None of these
   Option C
   

    

5. Which type of insurance policy provides for a common sum insured for the entire family?
   Group Mediclaim Policy
   Floater Policy
   All in One Policy
   Endowment Policy
   None of these
   Option B
   Floater Policy

    

6. Micro Insurance covers maximum amount of ______
   Rs 1 lakh
   Rs 2 lakhs
   Rs 3 lakhs
   Rs 4 lakhs
   Rs 5 lakhs
   Option A
   Micro Insurance- Maximum Cover – Rs 1 lakh; Maximum term – 1 year

    

7. What is the minimum prescribed Capital to Risk Weighted Assets Ratio (CRAR) to be maintained by the RRBs?
   7%
   8%
   9%
   8.5%
   6%
   Option C
   9%

    

8. What does S stands for in SNRR account?
   Special
   Security
   Savings
   Sovereign
   Service
   Option A
   Special Non-Resident Rupee Account (SNRR account)

    

9. What is the maximum amount of award that Insurance Ombudsman can pass?
   Rs 10 lakhs
   Rs 20 lakhs
   Rs 30 lakhs
   Rs 40 lakhs
   Rs 50 lakhs
   Option C
   Insurance Ombudsman may not award compensation exceeding rupees thirty lakhs (including relevant expenses, if any).

    

10. _____________ is the restoration of a lapsed policy to in-force status
    Indemnity
    Reinstatement
    Franchise
    Deferment
    Benfit
    Option B
    Reinstatement