LIC AAO 2019 – Financial Awareness Questions (Day – 25)

Dear Aspirants, LIC AAO is one the most important exam in the competitive examination. LIC AAO mains exam consists of four sections i.e. Reasoning ability, Data Analysis & Interpretation, General knowledge & Current affairs and Insurance & Financial Market Awareness. Insurance & Financial Market Awareness section comprises of 30 questions.  Insurance & Financial Market Awareness questions plays an important role in boosting up the score in mains examination and also helps in interview. Here we are providing new series of Practice Questions on Financial awareness. Aspirants can make use of it, to improve score in Insurance & Financial Market Awareness section.
[WpProQuiz 5929]

1) The maximum value of any prepaid payment instrument, where specific limits have not been prescribed, shall not exceed ______

a) Rs. 25000

b) Rs. 75000

c) Rs. 50000

d) Rs. 100000

e) None of these

2)Financial Literacy includes the knowledge of making appropriate decisions about personal finance such as ________

a) Investing

b) Insurance

c) Real estate

d) Tax planning

e) All of the above

3)The process by which the central bank of a country controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth is known as:

a) Economic Policy

b) Monetary Policy

c) Fiscal Policy

d) Credit Policy

e) Budgetary Policy

4) The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to-

a) Multinational Banks

b) Multinational Financial Institutions

c) Middle-Income Developing Countries

d) Non-Government Organizations

e) None of the given options is true

5) ___________ a/an electronic trading platform, operated by the Reserve Bank of India, used to facilitate the exchange of government securities and other money market instruments.

a) Delivery versus Payment (DvP)

b) Negotiated Dealing System (NDS)

c) Risk Mitigation

d) Competition Commission of India (CCI)

e) None of the given options is true

6) The government has announced ________rupee award for states that would complete the household electrification early under the Saubhagaya scheme.

a) 200 crore

b) 50 crore

c) 150 crore

d) 10 crore

e) 100 crore

7) The Defence Acquisition Council (DAC) accorded approval for the acquisition of defence equipment worth nearly Rs _______________ crore which includes BrahMos Missiles, and Armoured Recovery Vehicles (ARVs) for Battle Tank Arjun.

a) Rs 5000 crore

b) Rs 3000 crore

c) Rs 7000 crore

d) Rs 1000 crore

e) Rs 4000 crore

8) According to Moody’s, Indian economy is expected to grow at _______________ percent in the calendar year 2019 and 2020.

a) 7.1%

b) 7.5%

c) 7.3%

d) 7.4%

e) 7.2%

9)Which of the following is an apex financial institution for housing?

a) AIFI

b) NHB

c) DFI

d) SIDBI

e) NABARD

10)Defence Acquisition Council (DAC) headed by Union Defence Minister NirmalaSitharaman approved the acquisition of defence equipment worth __________ Crore?

a) Rs.3000 Crore

b) Rs.2700 Crore

c) Rs.5000 Crore

d) Rs.1900 Crore

e) None of these

Answers :

1) Answer: c)

The maximum value of any prepaid payment instrument, where specific limits have not been prescribed, shall not exceed Rs 50,000/-

2) Answer: e)

Financial literacy is the education and understanding of various financial areas. This topic focuses on the ability to manage personal finance matters in an efficient manner, and it includes the knowledge of making appropriate decisions about personal finance such as investing, insurance, real estate, paying for college, budgeting, retirement and tax planning.

3) Answer: b)

Monetary Policy is the process by which monetary authority of a country, generally a central bank controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth. In India, the central monetary authority is the Reserve Bank of India (RBI). It so designed as to maintain the price stability in the economy.

4) Answer: c)

The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income developing countries.

5) Answer: b)

Till 2002, the Government securities market was mainly a telephone market. Buyers and sellers traded over telephone and submitted physical Subsidiary General Ledger (SGL) transfer forms for transfer of the Government securities and cheques for settlement of the funds to the Reserve Bank of India. These manual operations were inefficient and often resulted in delays. In order to improve efficiency in the market, the Reserve Bank of India took steps to automate the process of trading and settlement of Government securities transactions and the Negotiated Dealing System (NDS) was introduced in February 2002.

6) Answer: e)

The Power Ministry announced Rs 100 croreaward for states that would complete the household electrification early under the Saubhagya scheme.

7) Answer: b)

The Defence Acquisition Council (DAC) accorded approval for the acquisition of defence equipment worth nearly Rs 3000 crore which includes BrahMos Missiles, and Armoured Recovery Vehicles (ARVs) for Battle Tank Arjun. The decision was taken at a meeting chaired by Defence Minister NirmalaSitharaman.

8) Answer: c)

Indian economy is expected to grow at 7.3 per cent in calendar year 2019 and 2020, and the government spending announced ahead of elections this year which will support near-term growth.

9) Answer: b)

NHB is an apex financial institution for housing. NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both at local and regional levels.

10) Answer: b)

The Defence Acquisition Council (DAC) headed by Union Defence Minister NirmalaSitharaman approved the acquisition of defence equipment at cost of Rs 2700 crores. The following was approved: 3 Cadet Training ships for the Indian Navy to impart basic sea training for officer cadets and women officer trainees. These ships would perform hospital ship duties, providing humanitarian assistance and disaster relief, undertaking search and rescue (SAR) missions and non-combatant evacuation operations.

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