LIC AAO 2019 – Financial Awareness Questions (Day – 56)

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 6359]

1) Economic units whose consumption and planned investments are less than their income is known as?

a) Deficit Spending Economic Unit

b) Surplus Spending Economic Unit

c) Neutral Spending Economic Unit

d) Forced Spending Economic Unit

e) None of these

2) Flow of Funds (FoF) accounting in India is done by?

a) Ministry of Finance

b) Central Statistics Office

c) Reserve Bank of India

d) State Bank of India

e) DSO

3) Reserve Bank of India deals in call money market via ____

a) Repo Auction

b) CRR

c) SLR

d) T-Bills

e) All of these

4) New Issues Market is also known as?

a) Secondary Market

b) Primary Market

c) Tertiary Market

d) Call Market

e) None of these

5) Application Supported by Blocked Amount (ASBA) is developed by ?

a) RBI

b) IRDAI

c) SEBI

d) NHB

e) Ministry of Finance

6) How much amount of fund was received by India from the Asian Development Bank (ADB) in terms of sovereign loans in the year 2018?

a) USD 4 billion

b) USD 3 billion

c) USD 2 billion

d) USD 4.5 billion

e) USD 3.5 billion

7) The government has infused how much crore Rupees in four public sector banks, including UCO Bank and Syndicate Bank recently?

a) Rs 10,882 crore

b) Rs 12,775 crore

c) Rs 08,225 crore

d) Rs 05,666 crore

e) None of these

8) In which bank the central government has infused Rs 3,076 crore of capital into it by way of preferential allotment recently?

a) Axis Bank

b) UCO Bank

c) Union Bank of India

d) Central Bank of India

e) None of these

9) The government has hiked the customs duty on wheat to _____ from_____ recently to curb imports and protect the domestic industry.

a) 30%, 20%

b) 25%, 15%

c) 20%, 15%

d) 40%, 30%

e) None of these

10) _______________ and SBI Life Insurance signed a bancassurance pact aiming to offer a comprehensive financial planning solution to its customers.

a) ICICI Bank

b) Axis Bank

c) Syndicate Bank

d) Canara Bank

e) None of these

Answers:

1) Answer: b)

Surplus Spending Economic Unit – Economic units whose consumption and planned investments are less than their income

Deficit Spending Economic Unit – units whose consumption and planned investments exceeds income

2) Answer: c)

Flow of funds accounts are used to track the flow of money to and from various sectors of a national economy. Flow of funds (FOF) accounts are collected and analyzed by a country’s central bank.

3) Answer: a)

Call money market are tools for very short term funds like one day to fortnight. Repo auction is done by RBI for this short duration.

4) Answer: b)

The primary market is a market for new issues and is also called the new issues market.

5) Answer: c)

ASBA (Applications Supported by Blocked Amount) is a process developed by the India’s Stock Market Regulator SEBI for applying to IPO.

6) Answer: b)

India was the biggest recipient of funds from the Asian Development Bank (ADB) in the year 2018. The country received USD 3 billion in sovereign loans in 2018 from ADB.

7) Answer: a)

The government has infused 10,882 crore Rupees in four public sector banks, including UCO Bank and Syndicate Bank. It is a part of 28,615 crore rupees capital infusion to be done in about half a dozen public sector lenders. UCO Bank has received 3,074 crore rupees in the equity by way of preferential allotment yesterday. Besides, Bank of Maharashtra got 4,498 crore rupees, Syndicate Bank 1,632 crore rupees and Central Bank of India 1,678 crore rupees.

8) Answer: b)

State-run lender UCO Bank stated the central government has infused Rs 3,076 crore of capital into it by way of preferential allotment. The government “has conveyed its decision to invest Rs 3,074 crore in the equity of the Bank by way of preferential allotment and Bank has received the amount.

9) Answer: d)

The government has hiked the customs duty on wheat to 40% from 30% to curb imports and protect the domestic industry.

10) Answer: c)

Syndicate Bank and SBI Life Insurance signed a bancassurance pact aiming to offer a comprehensive financial planning solution to its customers. The pact was signed between Syndicate Bank MD & CEO, Mrutyunjay Mahapatra and MD and CEO of SBI Life, Sanjeev Nautiya

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