LIC AAO 2019 – Financial Awareness Questions (Day – 40)

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 6159]

1)TDR is a method for controlling land use to complement land-use planning and zoning for more effective urban growth management and land conservation. Expand TDR

a) Transferable Development Rights

b) Transaction Delayed Reserve

c) Tax Deducted Review

d) Terminal Development Resource

e) None of these

2) In which of the following fund transfer system, the transactions received up to a particular time are processed in batches?

a) RTGS

b) IMPS

c) NEFT

d) All the above

e) Only a) and c)

3) Which of these is the first Destination Bank to go live with Net Banking and Debit Card-based e-mandate authentication?

a) ICICI Bank

b) Punjab National bank

c) Kotak Mahindra Bank

d) HDFC Bank

e) Axis Bank

4) Which of the following is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers?

a) Unified Payments Interface

b) Bharat Bill Payment System

c) Immediate Payment Service

d) National Common Mobility Card

e) None of these

5) ________ can be used for purchase of goods and services and also permit cash withdrawal at ATMs, Merchant Local Locations, and automated business correspondents.

a) Closed System Payment Instruments

b) Semi-closed System Payment Instruments

c) Open System Payment Instruments

d) Semi-Open System Payment Instruments

e) None of these

6) Name the first central bank in the Asia-Pacific region to begin explicit interest rate easing cycle by cutting the policy rate?

a) Bank of Mexico

b) Federal Reserve

c) RBI

d) Central Bank of the Russia

e) None of these

7) The Central government has planned to raise the import duty on wheat from 30% to ______

a) 40%

b) 35%

c) 45%

d) 50%

e) 55%

8) As per World Economic Forum (WEF) report, India is set to uplift households out of poverty and reduce the share of households below the poverty line from current 15 percent to 5 percent by which year?

a) 2025

b) 2035

c) 2050

d) 2030

e) 2040

9) SEBI has reduced the minimum subscription requirement for InvITs from Rs ________ and its multiple

a) Rs 2 lakh

b) Rs 5 lakh

c) Rs 1 lakh

d) Rs 4 lakh

e) Rs 10 lakh

10) The World Bank has approved Rs.6000 crore to Central Sector Scheme of the Ministry of Water Resources, River Development and Ganga Rejuvenation for which scheme?

a) PradhanMantriFasalBimaYojana

b) AtalBhujalYojana

c) Atal Pension Yojana

d) PradhanMantriGaribKalyanYojana

e) Atal Mission for Rejuvenation and Urban Transformation

Answers:

1) Answer: a)

Transferable Development Rights (TDR) is a method for controlling land use to complement land-use planning and zoning for more effective urban growth management and land conservation

2) Answer: c)

National Electronic Funds Transfer (NEFT) is a nation-wide payment system. Under this Scheme, individuals can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country participating in the Scheme. NEFT transactions are settled in batches.

3) Answer: c)

Kotak Mahindra Bank is the first Destination Bank to go live with Net Banking and Debit Card-based e-mandate authentication

4) Answer: b)

Bharat Bill Payment System is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers

5) Answer: c)

Open System Payment Instruments can be used for purchase of goods and services and also permit cash withdrawal at ATMs, Merchant Local Locations, and automated business correspondents.

6) Answer: c)

The Reserve Bank of India (RBI) is the first central bank in the Asia-Pacific region to have begun explicit interest rate easing cycle by cutting the policy rate back-to-back in the last two monetary policy reviews in 2019

7) Answer: a)

The government is likely to raise the import duty on wheat from the current 30% to 40% to rule out any possibility of cheaper imports amid the harvesting of the new crop.

8) Answer: d)

India will uplift around 25 million households out of poverty and reduce the share of households below the poverty line from 15 percent today to 5 percent by 2030, the World Economic Forum (WEF) said in a report

9) Answer: c)

Minimum subscription requirement for InvITs: Rs 1 lakh (and its multiple) [earlier its was Rs 10 lakhs]

10) Answer: b)

The World Bank has approved AtalBhujalYojana (ABHY), a Rs.6000 crore Central Sector Scheme of the Ministry of Water Resources, River Development and Ganga Rejuvenation. The scheme is to be implemented over a period of five years from 2018-19 to 2022-23, with World Bank assistance. The scheme proposal has already been recommended by the Expenditure Finance Committee and the Ministry will be seeking Cabinet approval for the project shortly.

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