IBPS PO/Clerk 2019 – Financial Awareness Questions (Day – 130)

Dear Aspirants, IBPS  PO/Clerk is one of the most important exam in the competitive examination. IBPS  PO/Clerk mains exam consists of three sections i.e. Reasoning ability and Numerical Ability, General knowledge & Current affairs & Financial Market Awareness. IBPS  PO/Clerk General Awareness & Financial Market Awareness section comprises of 50 questions. IBPS  PO/Clerk Financial Awareness Questions 2019 play an important role in boosting up the score in mains examination and also helps in the interview. Here we are providing a new series of IBPS  PO/Clerk Financial Awareness Questions 2019. Aspirants can make use of this IBPS  PO/Clerk Financial Awareness Questions 2019, to improve score in the General Awareness & Financial Market Awareness section.

IBPS PO / Clerk 2019 – Financial Awareness Questions (Day – 130)

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1) Which organization regulates Mutual Fund market in India?

a) SEBI

b) RBI

c) Central Government

d) CIBIL

e) None of these

2) The Industrial Finance Corporation of India was set up in ________?

a) March 1948

b) April 1948

c) July 1948

d) October 1948

e) None of the above

3) Financial inclusion means

a) Wholesale Banking

b) Financial Banking

c) Retail Banking

d) Bring all individuals and businesses under banking and all financial network

e) None of the above

4) A tool used by lender to protect itself against credit losses in the event of a default by the homebuyer is called as __________.

a) Indemnity

b) Mortgage Guarantee

c) Collateral

d) Arbitrage

e) Personal Guarantee

5) CFMS is a system operated by the RBI to enable operations on current accounts maintained at various offices. What “C” denotes in acronym CFMS?

a) Core

b) Circular

c) Centralised

d) Current

e) Controlling

6) The Pradhan Mantri Suraksha Bima Yojana is implemented by which ministry?

a) Ministry of Home Affairs

b) Ministry of Finance

c) Ministry of Health and Family Welfare

d) Ministry of Labour and Employment

e) Ministry of Micro, Small and Medium Enterprises

7) Which among the following credit rating agencies focuses only on the rating of India’s MSME segments?

a) ONICRA

b) SMERA

c) CIBIL

d) ICRA

e) Equifax

8) Which among the following financial instruments is used for making donations to political parties?

a) Convertible bonds

b) Electoral bonds

c) Promissory notes

d) Equity shares

e) Participatory notes

9) Which among the following is true about ‘Small Coins’?

a) Coins up to 25 paise

b) Coins up to 50 paise

c) Coins up to 100 paise

d) Coins up to 25 paise

e) Coins up to 20 paise

10) Which of the following curves shows the relationship between tax rates and the amount of tax revenue collected by the government?

a) Phillips Curve

b) Laffer Curve

c) Kuznets Curve

d) Yield Curve

e) Indifference Curve

Answers :

1) Answer: A

SEBI (Securities and Exchange Board Of India) is responsible for regulating the Mutual Funds market.  The organization regulates the whole securities market in the country. It was established as a body in 1988 and given its statutory powers through SEBI Act, 1992

2) Answer: C

IFCI, previously Industrial Finance Corporation of India, is an Indian government owned development bank to cater to the long-term finance needs of the industrial sector. It was the first development finance institution established by the Indian government after independence. Government established the Industrial Finance Corporation of India (IFCI) on 1 July 1948.

3) Answer: D

Financial inclusion is basically a process or a type of campaign which, ensures the accessibility of financial services to all individuals and businesses. It is the key enabler to reducing poverty and boosting prosperity.

4) Answer: B

Mortgage Guarantee (MG) is actively used by lenders in developed markets as a tool to manage credit risks on home loan contracts. A lender can take MG protection on a home loan or a pool of home loans from a Mortgage Guarantee Company (MGC) to protect itself against credit losses in the event of a default by the homebuyer. The lender has the ability to invoke the MG as soon as the contract becomes a Non Performing Asset (NPA) as per the RBI norms.

5) Answer: C

The Centralised Funds Management System (CFMS), is a system set up, operated and maintained by the Reserve Bank of India to enable operations on current accounts maintained at various offices of the Bank, through standard message formats in a secure manner.

6) Answer: B

Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India. It was originally mentioned in the 2015 Budget speech by Finance Minister Arun Jaitley in February 2015. It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata. As of May 2015, only 20% of India’s population has any kind of insurance, this scheme aims to increase the number. It is implemented by the Finance Ministry.

7) Answer: B

The Indian credit rating industry has evolved over a period of time. Indian credit rating industry mainly comprises of CRISIL, ICRA, CARE, ONICRA, FITCH & SMERA. SMERA is the rating agency exclusively established for the rating of MSMEs.

8) Answer: B

Electoral Bond is a financial instrument for making donations to political parties. These are issued by Scheduled Commercial banks upon authorisation from the Central Government to intending donors, but only against cheque and digital payments.

9) Answer: B

Coins up to 50 paise are called ‘small coins’ and coins of Rupee one and above are called ‘Rupee Coins’. Coins can be issued up to the denomination of Rs.1000 as per the Coinage Act, 1906.

10) Answer: B

The Laffer Curve is a theory developed by supply-side economist Arthur Laffer to show the relationship between tax rates and the amount of tax revenue collected by governments. The Laffer Curve suggests that as taxes increase from low levels, tax revenue collected by the government also increases.

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