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.
1) In Notice Money Market, the tenor of the transactions is from ________
a) 2-7 days
b) 2-14 days
c) 2-21 days
d) 2-28 days
e) 2-90 days
2) ___________ is a voluntary market body for the bond, money and derivatives markets.
3) If the claim is exceeding ___________ claims can be settled by legal evidence that is by probate of will or succession certificate in Post Office Saving Schemes?
a) three lakh
b) four lakh
c) one lakh
d) six lakh
e) nine lakh
4) ‘Shishu’, ‘Kishore’ and ‘Tarun’ are associated with-
b) RESERVE BANK
d) MUDRA BANK
5) National Income Estimate is prepared by _________
a) Department of Economics and affairs
b) CSO (Central Statistical Organization)
d) Finance ministry
6) What is the Bank Rate, according to first Bi-monthly Monetary Policy statement for 2019-20?
e) None of these
7) The farmers pursuing the activities of animal husbandry and fisheries availing long through Kisan Credit Card will be provided with the benefit of ___ interest subvention.
8) Which district court has become the first in India to accept e-payments?
9) In the event of death of a labourer during service, the amount to be paid by EPFO has been enhanced from Rs. 2.5 lakh to Rs. ____.
a) Rs 3 lakh
b) Rs 6 lakh
c) Rs 7 lakh
d) Rs 9 lakh
e) Rs 4 lakh
10) Under the PradhanMantriShram Yogi Maan-Dhan scheme, Workers of the unorganised sector will receive how much Rupees pensions after attaining the age of 60 years?
a) Rs. 3000
b) Rs. 1000
c) Rs. 6000
d) Rs. 1200
e) None of these
1) Answer: b)
In money market, the amount that is lent for one day is known as “call money” and, if it exceeds one day or two days to 14 days is referred to as “notice money.”
2) Answer: d)
The Fixed Income Money Market and Derivatives Association of India (FIMMDA), an association of Scheduled Commercial Banks, Public Financial Institutions, Primary Dealers and Insurance Companies was incorporated as a Company under section 25 of the Companies Act,1956 on June 3rd, 1998. FIMMDA is a voluntary market body for the bond, money and derivatives markets. FIMMDA has members representing all major institutional segments of the market. The membership includes Nationalized Banks such as State Bank of India, its associate banks and other nationalized banks; Private sector banks such as ICICI Bank, HDFC Bank, IDBI Bank; Foreign Banks such as Bank of America, ABN Amro, Citibank, Financial institutions such as IDFC, EXIM Bank, NABARD, Insurance Companies like Life Insurance Corporation of India (LIC), ICICI Prudential Life Insurance Company, Birla Sun Life Insurance Company and all Primary Dealers.
3) Answer: c)
If the claim is exceeding one lakh claims can be settled by legal evidence that is by probate of will or succession certificate in Post Office Saving Schemes.
4) Answer: d)
The initial products and schemes (MUDRA) under this umbrella have already been created and the interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit / entrepreneur as also provide a reference point for the next phase of graduation / growth for the entrepreneur to aspire for:
Shishu: covering loans uptoRs. 50,000/-
Kishor: covering loans above Rs. 50,000/- and uptoRs. 5 lakh
Tarun: covering loans above Rs. 5 lakh and uptoRs. 10 lakh
5) Answer: b)
The Government of India appointed National Income Committee in 1949. The committee was chaired by Prof. P.C. Mahalanobis and had Prof D.R. Gadgil and Dr. V.K.R.V. Rao as members . The first report of the committee was presented in 1951. According to the first report, the National Income of India for 1948-49 was Rs. 8,710 crore and the per capita income was Rs. 225. Since 1955 the national income estimates are being prepared by Central Statistical Organisation.
6) Answer: c)
As per RBI’s first Bi-monthly Monetary Policy statement for 2019-20, The marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.
Bank Rate is the rate at which the Reserve Bank is ready to buy or rediscount bills of exchange or other commercial papers for the long term.
7) Answer: d)
The farmers pursuing the activities of animal husbandry and fisheries availing long through Kisan Credit Card will be provided with the benefit of 2% interest subvention.
8) Answer: a)
Pune court is first in India to get the facility of e-payment.“The Pune district and sessions court are the first in India to launch the e-payment system. There will be no extra charges for transactions till Rs 2,000; over and above that, charges will be levied.
9) Answer: b)
The ceiling of ESI’s eligibility cover has been increased from Rs. 15,000 pm to Rs. 21,000 pm. Minimum pension for every labourer has been fixed at Rs. 1,000 per month. In the event of death of a labourer during service, the amount to be paid by EPFO has been enhanced from Rs. 2.5 lakh to Rs. 6 lakh. Under Anganwadi and AshaYojana honorarium has been enhanced by about 50% for all categories of workers.
10) Answer: a)
Under the PradhanMantriShram Yogi Maan-Dhan scheme, workers of the unorganised sector will receive a minimum assured pension of three thousand rupees per month after attaining the age of 60 years.The workers whose monthly income is 15 thousand rupees per month or less and belong to the entry age group of 18 to 40 years are eligible for the scheme.