LIC AAO 2019 – Financial Awareness Questions (Day – 36)

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 6086]

1)Which multilateral financial institution has recently approved $400 million loan for water supply project in state of Andhra Pradesh?

a) Asian Development Bank

b) World Bank

c) International Monetary Fund

d) Asian Infrastructure Investment Bank

e) None of these

2)What amount Andhra Pradesh state government has announced to provide to unemployed youth under ‘Mukhyamantri Yuva Nestam’ scheme?

a) Rs. 1500

b) Rs. 1000

c) Rs. 1200

d) Rs. 1800

e) Rs. 2400

3)Which company has launched an instant loan approval and disbursal product called ‘Boost’?

a) PhonePe

b) FreeCharge

c) Paytm

d) Mobikwik

e) Amazon Pay

4)Reserve Bank initiated steps to set up a digital Public Credit Registry (PCR). For developing the registry, the RBI has invited expression of interest (EOI) from companies with a turnover of over __________ in the last three years.

a) Rs. 10 crores

b) Rs. 50 crores

c) Rs. 100 crores

d) Rs. 500 crores

e) Rs. 25 crores

5)How much amount has been announced for Rashtriya Gokul Mission for the current year?

a) Rs.1250 crore

b) Rs.100 crore

c) Rs.500 crore

d) Rs.750 crore

e) Rs.1000 crore

6)What is the authorized capital of National Insurance Company Limited (NICL)?

a) Rs. 100 crores

b) Rs. 200 crores

c) Rs. 500 crores

d) Rs. 1000 crores

e) Rs. 600 crores

7)In which of the following city does not have RBI’s currency printing facility?

a) Dewas

b) Nasik

c) Mysore

d) Raipur

e) Salboni

8) Individual taxpayers having taxable annual income up to Rs _______________ will not be required to pay any income tax.

a) Rs.5 lakhs

b) Rs.3 lakhs

c) Rs.7 lakhs

d) Rs.4 lakhs

e) Rs.6 lakhs

9)What is the full form of PCA?

a) Prompt Council Action

b) Prompt Corrective Agenda

c) Prompt Corrective Action

d) Private Corrective Action

e) Prompt Corrective Agency

10) Fitch Ratings revised downwards India’s GDP growth forecast to _______________ for current fiscal.

a) 7.1%

b) 7.2%

c) 6.8%

d) 7.4%

e) 7.3%

Answers:

1) Answer: d)

Asian Infrastructure Investment Bank (AIIB- headquarter-Beijing, China) had approved a $400 million loan for a water sanitation project in Andhra Pradesh. India is the second largest shareholder of Asian Infrastructure Development Bank after China.

2) Answer: b)

Andhra Pradesh government has launched unemployment allowance scheme “Mukhyamantri Yuva Nestam”. The allowance amount would be of Rs. 1000 per month.

3) Answer: d)

Online payment company MobiKwik has launched an instant loan approval and disbursal product called ‘Boost’. As per the offer, loans of upto Rs 60,000 can be sanctioned as well as disbursed in a matter of 90 seconds. The approval time for the loan would be 30 seconds based on an innovative risk scoring model called ‘Mobiscore’. The minimum amount of loans that can be approved is for Rs. 5000 and the users will have the option to transfer the amount in their bank accounts.

4) Answer: c)

To capture details of all borrowers, willful defaulters and also the pending legal suits, RBI has initiated steps to set up a wide-based digital Public Credit Registry (PCR). For developing the registry, the RBI has invited expression of interest (EOI) from companies with a turnover of over Rs. 100 crores in the last three years.

5) Answer: d)

Allocation of Rs.750 crore for Rashtriya Gokul Mission has been announced for the current year itself. Setting up of “Rashtriya Kamdhenu Aayog” to upscale sustainable genetic upgradation of cow resources and to enhance production and productivity of cows has also been announced. The Aayog will also look after effective implementation of laws and welfare schemes for cow.

6) Answer: b)

The authorized capital and paid-up equity capital of the company is Rs.200 crore and Rs.100 crore respectively. National Insurance Company Limited (NICL) is a state owned general insurance company in India. The company headquartered at Kolkata was established in 1906 and nationalised in 1972.

7) Answer: d)

For printing currency, Reserve Bank of India (RBI) has four facilities at Dewas, Nasik, Mysore and Salboni.

8) Answer: a)

Individual taxpayers having taxable annual income up to Rs.5 lakhs will not be required to pay any income tax.

9) Answer: c)

PCA stands for Prompt Corrective Action.

10) Answer: b)

Fitch Ratings revised downwards India’s GDP growth forecast to 7.2% for current fiscal citing higher financing cost and reduced credit availability. In its Global Economic Outlook, Fitch projected that for 2019-20 and 2020-21 financial years, India’s GDP growth will be 7% and 7.1% respectively. Fitch had in June projected India to grow at 7.4% in current fiscal and 7.5% in 2019-20.

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