Financial Awareness

LIC AAO 2019 – Financial Awareness Questions (Day – 10)

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.
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1) If Indian govt. decides the level of Rupee to be 57 from 55 against 1 dollar, it is called ________.

a) Depreciation

b) Devaluation

c) Appreciation

d) Revaluation

e) Demonetisation

2) When a bank removes bad loans from their balance sheets it is known as _______ loans.

a) Overwriting

b) Liability

c) Underwriting

d) Writing-off

e) Writing-on

3) ________ (UPI PIN) digit pass code you create/set during first time registration with UPI App.

a) 3-5

b) 4-6

c) 4-5

d) 3-4

e) 5-6

4) What was the deposits criteria of 14 banks nationalized on 19th July, 1969?

a) Over Rs. 1000 crores

b) Over Rs. 500 crores

c) Over Rs. 100 crores

d) Over Rs. 50 crores

e) Over Rs. 200 crores

5) Which of the following along with Bombay Stock Exchange has launched the ‘eATM’ facility on 3 December 2018?

a) HDFC Securities

b) PNB Securities

c) SBI Securities

d) ICICI Securities

e) Axis bank Securities

6) The Defence Acquisition Council (DAC), chaired by Defence Minister SmtNirmalaSitharaman accorded approval for procurement for the Services amounting to approximately ___________________ crores.

a) Rs. 52,000 crores

b) Rs. 87,000 crores

c) Rs. 50,000 crores

d) Rs. 46,000 crores

e) Rs. 10,000 crores

7) The Asian Development Bank (ADB) and the Government of lndia signed a $346 million loan to finance improvement of over 400 kilometers of state highways that will enhance connectivity and access to economic centers across 12 districts in__________

a) Karnataka

b) West Bengal

c) Rajasthan

d) Maharashtra

e) Andhra Pradesh

8) According to Finance Minister ArunJaitley, Indian economy grew by ____________ in the first quarter (April-June) of the current fiscal, the highest in over two years.

a) 7.2%

b) 7.8%

c) 8.6%

d) 8.2%

e) 8.4%

9) The government of India has doubled the monetary limit to ___________ lakh rupees for filing loan recovery application in the DRT by banks and financial institutions.

a) 20 lakh rupees

b) 40 lakh rupees

c) 50 lakh rupees

d) 10 lakh rupees

e) 30 lakh rupees

10) According to the interim budget 2019, how many Jan Dhan bank accounts were opened in the last five years?

a) 30 crore

b) 34 crore

c) 29 crore

d) 50 crore

e) 19 crore

Answers :

1) Answer: b)

Depreciation refers to a fall in the value of a currency due to market changes while devaluation signifies the deliberate reduction undertaken by a countries government to its own currency.

2) Answer: d)

When a bank removes bad loans from its balance sheets it is known as Bank Write-off. By writing off the loans, the bank can reduce its overall tax liability.

3) Answer: b)

4-6 (UPI PIN)digit pass code you create/set during first time registration with UPI App

4) Answer: d)

14 major Indian Scheduled Commercial Banks with deposits of over Rs. 50 crores nationalised ‘ to serve better the needs of development of the economy in conformity with national policy objectives’.

5) Answer: d)

ICICI Securities and Bombay Stock Exchange (BSE) has launched ‘eATM’ facility on 3 December 2018.Through ‘eATM’ facility, clients of the domestic brokerage entity will be able to receive the pay-out within 30 minutes of selling the shares.The new service would have a cap of ₹ 50,000 per client a day​ and would be applicable on about 600 stocks listed on the BSE.

6) Answer: d)

The Defence Acquisition Council (DAC), chaired by Defence Minister SmtNirmalaSitharaman accorded approval for procurement for the Services amounting to approximately Rs. 46,000 crores. The DAC in a landmark decision approved procurement of 111 Utility Helicopters for the Indian Navy at a cost of over Rs. 21,000 crores. This is the first project under the MoD’s prestigious Strategic Partnership (SP) Model that aims at providing the significant fillip to the Government’s ‘Make in India’ programme.

7) Answer: a)

The Asian Development Bank (ADB) and the Government of India signed a $346 million loan to finance improvement of over 400 kilometers of state highways that will enhance connectivity and access to economic centers across 12 districts in Karnataka.

8) Answer: d)

Indian economy grew by 8.2% in the first quarter (April-June) of the current fiscal, the highest in over two years. This announcement was made by Finance Minister, ArunJaitley. The manufacturing sector grew by 13.5% which signals very good turnaround in the sector.

9) Answer: a)

The government of India has doubled the monetary limit to 20 lakh rupees for filing loan recovery application in the Debt Recovery Tribunals (DRT) by banks and financial institutions.

10) Answer: b)

According to the interim budget 2019, in the last five years, nearly 34 crore Jan Dhan bank accounts were opened. It is done to promote digital transactions and financial inclusion in India. Under the scheme, the government has allowed people to open bank accounts with no penalty on zero balance.

This post was last modified on April 26, 2019 3:33 pm