IBPS RRB Officer Scale I Mains General Awareness Questions Day – 229

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1) What is the minimum paid-up equity capital of the Third-Party Administrator at the time of starting of the company?

a) 50 Lakh

b) 5 Crore

c) 2 Crore

d) 1 Crore

e) 10 Lakh

2) Which among the following charges of ULIP is deducted from Net Asset Value on a daily basis?

a) Policy Administration Charge

b) Fund Management Charge

c) Mortality Charge

d) Premium Allocation Charge

e) Terminal Charge

3) Which of the following rates is decided by the market conditions and not by RBI?

a) Inflation rate

b) Policy Repo Rate

c) Marginal Standing Facility Rate

d) Bank Rate

e) None of these

4) Basel norms are important international regulatory stipulations. It is meant for which sector?

a) Banking

b) Finance

c) Marketing

d) Tax

e) None of these

5) ___________ is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for faster clearing of cheques.

a) Immediate Payment Service

b) Cheque Truncation System

c) Realtime gross settlement

d) Cheque Settlement Service

e) None of these

6) ‘Jharsuguda Airport’ is located in which state of India?

a) Jharkhand

b) Sikkim

c) Odisha

d) Chhattisgarh

e) Mizoram

7) ‘World Consumer Rights Day 2019’ was observed on which date?

a) 21 February

b) 05 May

c) 15 March

d) 12 April

e) 23 July

8) What is the capital of New Zealand?

a) Jakarta

b) Baku

c) Wellington

d) Moscow

e) Vienna

9) Kanha National Park is located in

a) New Delhi

b) Uttar Pradesh

c) Haryana

d) Madhya Pradesh

e) None of these

10) Gorakhpur is a city of Uttar Pradesh and located along the banks of which river?

a) Bhadra river

b) Minachil river

c) Musi river

d) Rapti river

e) None of these

Answers :

1) Answer: d)

The minimum paid up capital of the Third-Party Administrator Company should be in equity shares amounting to Rs. 1 Crore.

Third Party Administrator (TPA) is a company holding license from the Insurance Regulatory Development Authority to process claims – corporate and retail policies in addition to providing cashless facilities as an outsourcing entity of an insurance company.

TPAs function as an intermediary between the insurance provider and the insured.1)

2) Answer: b)

The Fund Management Charge is adjusted from Net Asset Value on a daily basis.

Fund management charge (FMC) is the fee charged by the insurance company for managing various funds in a ULIP.

It is levied for management of the funds and is deducted before arriving at the NAV.

Premium Allocation Charge – PAC is deducted as a fixed percentage of the premium received and is usually charged at a higher rate in the initial years of a policy.

3) Answer: a)

An inflation rate is decided by the market conditions.

4) Answer: a)

Basel guidelines refer to broad supervisory standards formulated by these groups of central banks– called the Basel Committee on Banking Supervision (BCBS).

5) Answer: b)

Cheque Truncation System (CTS) is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for faster clearing of cheques.

6) Answer: c)

The state assembly of Odisha has passed a unanimous resolution to name the newly-built Jharsuguda airport after noted freedom fighter Veer Surendra Sai.

7) Answer: c)

The World Consumer Rights Day 2019 was celebrated on 15th March 2019. The theme for this year is “Trusted Smart Products” which has been selected owing to the popular nature of smart gadgets like smart phones, wearable fitness trackers, voice-activated assistants and smart TVs etc.

8) Answer: e)

Wellington is the capital of New Zealand. New Zealand dollar is the currency of New Zealand.

9) Answer: d)

This is one of the most beautiful and well-maintained wildlife sanctuaries in India. Located in Madhya Pradesh, Kanha National Park was established in the year 1955. This wildlife sanctuary also forms the heart of the Kanha Tiger Reserve, created in 1974 under Project Tiger.

10) Answer: d)

Gorakhpur is a city located along the banks of Rapti River in the north-eastern part of the Indian state of Uttar Pradesh.

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