LIC ADO 2019 – Financial Awareness Questions (Day – 93)

Dear Aspirants, LIC ADO is one of the most important exam in the competitive examination. LIC ADO mains exam consists of three sections i.e. Reasoning ability and Numerical Ability, General knowledge & Current affairs and Insurance & Financial Market Awareness. LIC ADO Insurance Awareness & Financial Market Awareness section comprises of 50 questions. LIC ADO Financial Awareness Questions 2019 play an important role in boosting up the score in mains examination and also helps in the interview. Here we are providing a new series of LIC ADO Financial Awareness Questions 2019. Aspirants can make use of this LIC ADO Financial Awareness Questions 2019, to improve score in the Insurance & Financial Market Awareness section.

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LIC ADO 2019 – Financial Awareness Questions (Day – 93)

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1) What is the limit for annual turnover for retail traders and shopkeepers to be eligible under PM Karam Yogi Maandhan Scheme?

a) Rs 4 crore

b) Rs 5 crore

c) Rs 1.25 crore

d) Rs 2.5 crore

e) Rs 1.5 crore

2) Which of the following measures have been announced for making India a more attractive FDI destination?

a) Insurance Intermediaries to get 100% FDI

b) Global Investors Meet will be organised in India, using National Infrastructure Investment Fund (NIIF) as an anchor

c) FPIs to be permitted to subscribe to listed debt securities issued by ReITs and InvITs

d) Both A 7 B Only

e) All A, B & C

3) If the credit balance in a savings account has not operated for ten years, the amount should be transferred to which fund?

a) Unpaid Contract Fund

b) Cash Reserve Fund

c) Unclaimed Bank Deposit Fund

d) Inactive Deposit Fund

e) Depositor Education and Awareness Fund

4) The Legal Entity Identifier is a ______ digit code developed by the International Organization for Standardization.

a) 16-digit

b) 20-digit

c) 12-digit

d) 10-digit

e) 14-digit

5) In the National Financial Switch service, the limit per transaction is restricted to less than _________.

a) ₹ 20000

b) ₹ 25000

c) ₹ 50000

d) ₹ 10000

e) ₹ 40000

6) Maximum loan amount that can be provided against shares or debentures of any company is-

a) Rs 10 lakhs

b) Rs 1 lakhs

c) Rs 2 lakhs

d) Rs 5 lakhs

e) Other than those given in options

7) The concept of money bill is covered under which among the following of the Indian Constitution?

a) Article 110

b) Article 112

c) Article 115

d) Article 120

e) Other than those given in options

8) The rate at which domestic currency is converted into foreign currency is known as which among the following?

a) Floating rate

b) Exchange rate

c) Inflation rate

d) Deflation rate

e) Other than those given in options

9) ALM is concerned with strategic balance sheet management involving all market risks. ‘M’ in ALM stands for____________.

a) Market

b) Management

c) Maturity

d) Maintenance

e) Measurement

10) As per economic survey 2019, In 2018-19 what was the share of (in%) renewable in total electricity generation ?

a) 5

b) 6

c) 8

d) 3

e) 10

Answers :

1) Answer: e)

The Government has decided to extend pension benefits to 3 crore retail traders and shopkeepers who have an annual turnover of less than ₹1.5 crore. This is an extension to recently announced PM Shram Yogi Maandhan scheme and would be called the PM Karam Yogi Maan Dhan scheme.

Pradhan Mantri Shram Yogi Maan-dhan scheme is meant for old-age protection and social security of unorganised workers. It is a voluntary and contributory pension scheme, under which the subscriber would receive a minimum assured pension of Rs 3,000 per month after attaining the age of 60 years.

2) Answer: e)

Measures to make India a more attractive FDI destination:

– FDI in sectors like aviation, media (animation, AVGC) and insurance sectors can be opened further after multi-stakeholder examination.

– Insurance Intermediaries to get 100% FDI.

– Local sourcing norms to be eased for FDI in Single Brand Retail sector

– Government to organize an annual Global Investors Meet in India, using National Infrastructure Investment Fund (NIIF) as an anchor to get all three sets of global players (pension, insurance and sovereign wealth funds).

– Statutory limit for FPI investment in a company is proposed to be increased from 24% to sectoral foreign investment limit

– FPIs to be permitted to subscribe to listed debt securities issued by ReITs and InvITs.

– NRI Portfolio Investment Scheme Route is proposed to be merged with the Foreign Portfolio Investment Route.

3) Answer: e)

As per the Reserve Bank of India, the bank deposit which has not been claimed for 10 years or more would be transferred to Depositor Education and Awareness Fund Scheme. Reserve Bank of India established a Fund under the Section 26A of the Banking Regulation Act, 1949.

4) Answer: b)

The Legal Entity Identifier (LEI) is a 20-digit alpha-numeric code developed by the International Organization for Standardization (ISO). It connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions.

5) Answer: c)

In the National Financial Switch service, the limit per transaction is restricted to less than ₹50000. National Financial Switch (NFS) is the largest interconnected network of automated teller machines (ATMs) in India. It was taken over by NPCI from Institute for Development and Research in Banking Technology (IDRBT) in 2009.

6) Answer: a)

Loans can be granted against the shares or debentures of a public limited company or a private organization if it is held in physical form or dematerialized form. In case of shares in physical form, the maximum amounts of loan that can be granted are Rs 10 lakhs and in case of securities in demat form the same is Rs 20 lakhs

7) Answer: a)

Article 110 (1) defines the concept of money bill to be introduced in the Parliament by the ruling party. This is mainly related to the abolition or regulation or introduction of any tax related matter, regulation of borrowing by the government, custody of consolidated fund or the contingency fund of the country etc. Whether a bill is money bill or not is decided by the speaker of the Parliament

8) Answer: b)

Exchange Rate is defined as that rate which is used for conversion of the currency of a particular country into another foreign currency. It is also used to determine the value of the currency of one country against the currency of another country in the foreign exchange market of the country

9) Answer: b)

Asset Liability Management (ALM) is concerned with strategic balance sheet management involving all market risks. It also deals with liquidity management, funds management, trading and capital planning.

10) Answer: e)

The share of renewable in total generation has increased from 6 per cent in 2014- 15 to 10 per cent in 2018-19. Electric vehicles (EVs) represent the next generation in sustainable mobility and need to be encouraged.

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