LIC AAO 2019 – Financial Awareness Questions (Day – 69)

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 6519]

1) Which of the following is not a currency in SDR basket?

a) U.S. Dollar

b) Pound Sterling

c) Chinese Yuan

d) Swiss franc

e) Euro

2) For long duration crops, a loan is considered NPA when the instalment of principal remains unpaid for

a) For two crop seasons

b) For three crop seasons

c) For one crop seasons

d) For four crop seasons

e) For four or more crop seasons

3) A depository is an entity which helps an investor to buy or sell securities such as stocks and bonds in a paperless manner. How many depositories are there in India?

a) 1

b) 2

c) 3

d) 4

e) 5

4) What is the per transaction cap in UPI v2.0?

a) Rs 1 lakh

b) Rs 2 lakh

c) Rs 3 lakh

d) Rs 4 lakh

e) Rs 5 lakh

5) What is the lot size of Priority Sector Lending Certificates (PSLCs)?

a) Rs 10 lakhs

b) Rs 20 lakhs

c) Rs 25 lakhs

d) Rs 30 lakhs

e) Rs 50 lakhs

6) Acc. To the Finance Ministry, there was growth of __________ in income-tax returns electronically filed for the assessment year 2018-19, compared to those in 2017-18.

a) 22 %

b) 19 %

c) 13 %

d) 67 %

e) None of the above

7) With regards to the Interim Budget for 2019-20, the Fiscal deficit has been brought down to _________ in FY19.

a) 2.5%

b) 3.8%

c) 3.4%

d) 5.0%

e) 6.2%

8) India Rating projected India’s GDP to grow at _____ for 2019-20

a) 7%

b) 7.2%

c) 7.5%

d) 7.3%

e) 7.4%

9) SEBI fines 625 crore on which among the following entities in co-loaction facility case.

a) BSE

b) NSE

c) MCX

d) UTI

e) Share Khan

10) Warren Buffett’s Berkshire Hathaway (BRKA) , recently bought shares in which of the following firms for the first time?

a) Paytm

b) Amazon

c) Unacademy

d) Microsoft

e) Dunzo

Answers :

1) Answer: d)

Special Drawing Right (SDR) – The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.

Currencies – U.S. Dollar, Euro, Chinese Yuan, Japanese Yen and Pound Sterling

2) Answer: b)

For short duration crops- the instalment of principal or interest thereon remains overdue for two crop seasons. For long duration crops- the instalment of principal or interest thereon remains overdue for one crop season.

3) Answer: b)

In India, there are two depositories: Central Depository Services Ltd. (CDSL) and National Securities Depository Ltd (NSDL). There do not serve the investors directly. They serve through Depository Participants. A depository acts as a link between the shareholders and the listed company that issues shares. A depository eliminates the risk associated with holding physical securities.

4) Answer: b)

With the release of UPI v2.0 a major change has been made in the per transaction cap that was earlier Rs 1 lakh. It has been increased to Rs 2 lakhs.

5) Answer: c)

The PSLCs would have a standard lot size of ₹ 25 lakh and multiples thereof.

6) Answer: b)

There was growth of 19% in income-tax returns electronically filed for the assessment year 2018-19 .A total of 66.8 million returns were e-filed in FY19, which included 64.9 million for AY19.Current Finance Minister of India is Mr. Arun Jaitley.

7) Answer: c)

With regards to the Interim Budget for 2019-20, the Fiscal deficit has been brought down to 3.4 % in FY19.

8) Answer: d)

India Ratings & Research has lowered the country’s growth forecast for the current fiscal to 7.3%, from the earlier projection of 7.5% for the fiscal year 2019-2020. IMF also projected India to grow at 7.3% for FY 2019-20.

9) Answer: b)

Markets regulator SEBI has directed NSE to pay ₹625 crore for lapses in checking on brokers gaining unfair access through co-location servers placed at the site of exchange and prohibited NSE from accessing the securities market for 6 months. NSE- National Stock Exchange MD & CEO- Vikram Limaye

10) Answer: b)

Warren Buffett’s Berkshire Hathaway (BRKA) bought Amazon share, the exact amount will be disclosed in Berkshire’s quarterly report to the United States Securities and Exchange Commission later this month. Berkshire Hathaway owns about 250 million shares of Apple.

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