LIC AAO 2019 – Financial Awareness Questions (Day – 32)

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 6028]

1) Each subscriber under APY shall receive a Central Government guaranteed minimum pension of-

a) Rs. 2000 per month

b) Rs. 3000 per month

c) Rs. 4000 per month

d) Rs. 1000 per month

e) Rs. 5000 per month

2) SCSS offers regular income, highest safety and tax saving, making it a popular product for those over _____ years of age.

a) 64 years

b) 62 years

c) 60 years

d) 65 years

e) 80 years

3) Credit rating is _______

a) is used to rate the borrowers while giving advances

b) is used to work out performance of the employees

c) is used to calculate the number of excellent audit rated branches

d) is not used in any bank

e) is necessary before giving promotion to employees

4) Which of the following is defined as the difference between current assets and current liabilities?

a) Venture Capital

b) Working Capital

c) Equitable Mortgage

d) Loss Assets

e) Profit and Loss Account

5) Which of the following is an investment strategy in which a fund invests in other types of funds?

a) Bond

b) Securities

c) Stock

d) Funds of Fund

e) None of the given options is true

6) The GST Council allowed the filing of GST returns with an annual turnover of up to Rs. 5 crore _____.

a) Yearly

b) Half- Yearly

c) Quarterly

d) Monthly

e) None of the above

7) Which of the following financial institution has sanctioned Rs 335 crore under the Rural Infrastructure Development Fund (RIDF) to West Bengal?

a) National Housing Bank

b) Unit Trust of India

c) EXIM Bank

d) NABARD

e) General Insurance Corporation (GIC)

8) Which of the following bank has proposed to sell its stake in PNB Metlife India to private equity player Oman India Joint Investment Fund II for Rs 185 crore?

a) Bank of Baroda

b) Bank of India

c) Corporation Bank

d) Jammu & Kashmir Bank

e) ICICI Bank

9) Which Mutual Funds company had surpassed ICICI Prudential MF to gain top position?

a) Kotak Mahindra Mutual Funds

b) Birla Sun Life Mutual Funds

c) HDFC Mutual Funds

d) IndiaBulls Mutual Funds

e) None of the above

10) Which of the following bank has designed and developed PaiSA portal for quicker processing of loans under the DeendayalAntyodayaYojana?

a) Punjab National Bank

b) Vijaya Bank

c) Dena Bank

d) Allahabad Bank

e) None of these

Answers:

1) Answer: d)          

Each subscriber under APY shall receive a Central Government guaranteed minimum pension of Rs. 1000 per month or Rs. 2000 per month or Rs. 3000 per month or Rs. 4000 per month or Rs. 5000 per month, after the age of 60 years until death.

2) Answer: c)           

The Senior Citizens Savings Scheme (SCSS) offers regular income, highest safety and tax saving, making it a popular product for those over 60 years of age.

3) Answer: a)

Credit rating is an analysis of the credit risks associated with a financial instrument or a financial entity. An assessment of the creditworthiness of a borrower with respect to a particular debt or financial obligation.

4) Answer: b)

The capital of a business (working capital) which is used in its day-to-day trading operations, calculated as the current assets minus the current liabilities.

5) Answer: d)

Funds of Fund is an investment strategy in which a fund invests in other types of funds.

6) Answer: c)

The GST Council allowed the filing of GST returns with an annual turnover of up to Rs. 5 crore is Quarterly.

7) Answer: a)

The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 335 crore under the Rural Infrastructure Development Fund (RIDF) to West Bengal. The fund would be used for 158 minor irrigation projects and 23 flood protection projects.

8) Answer: d)

Jammu and Kashmir Bank has proposed to sell its stake in PNB Metlife India to private equity player Oman India Joint Investment Fund II for ₹ 185 crore.

9) Answer: c)

HDFC Mutual Fund has surpassed ICICI Prudential MF to gain top position. According to AMFI data, HDFC MF has assets worth Rs 3.35 lakh crore while ICICI Prudential MF manages only Rs 3.08 lakh crore. A mutual fund is a professionally managed investment pool from various investors that is used to buy securities.

10) Answer: d)

The Union Ministry of Housing and Urban Affairs has launched the ‘PAiSA’ – Portal for Affordable Credit and Interest Subvention Access, a centralised electronic platform for quicker processing of loans under the DeendayalAntyodayaYojana – National Urban Livelihoods Mission (DAY-NULM). The web platform was designed and developed by Allahabad Bank.

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