banking, security market & insurance section 1 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 5 EXERCISES
The following question based on Banking, Security Market & Insurance topic of indian economy mcq
(a) April 2003
(b) April 2001
(c) April 2002
(d) April 2000
The correct answers to the above question in:
Answer: (d)
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Question : 1
A third-party administrator (TPA) is an organisation associated with the claim settlement process in the
a) Commodity market
b) Insurance industry
c) Exchange markets
d) Mutual fund industry
Answer »Answer: (b)
A Third Party Administrator (TPA) is an Insurance Regulatory Development Authority (IRDA) registered company or an organization that processes insurance claims on behalf of insurance companies.
Question : 2
RBI’s first census of India’s foreign Assets & Liability as on 30 June 1948 revealed total foreign business investments of Rs. 302 cr, out of it what was the % of British investments in India?
a) 72 %
b) 60 %
c) 51 %
d) 91 %
Answer »Answer: (a)
72% was British investment in India, when RBI first census of India’s foreign Assets & Liabilites as on 30 June 1948 revealed total business investment of Rs.302 crore.
Question : 3
A currency which either has a missing portion or is composed of more than two pieces is categorized as a
a) Detached Note
b) Imperfect Note
c) Soiled Note
d) Mutilated Note
Answer »Answer: (d)
Mutilated banknote is a banknote, of which a portion is missing or which is composed of more than two pieces.
Question : 4
Debenture holders of a company are the
a) Directors
b) Creditors
c) Debtors
d) Shareholders
Answer »Answer: (b)
Question : 5
The word “Actuaries” is related to
a) Share-market
b) Insurance
c) Banking
d) None of the above
Answer »Answer: (b)
The word ‘Actuaries’ is related to the profession of insurance. The determination of the accidents covered by Insurance policy and of the premium is done by actuaries.
Question : 6
In which of the following years India switched over to decimal currencies?
a) 1957
b) 1956
c) 1955
d) 1960
Answer »Answer: (a)
India switched over to decimal currency in 1957 with the amendment of the Indian Coinage Act. The rupee remained unchanged in value and nomenclature. It, however, was now divided into 100 ‘Paisa’ instead of 16 Annas.
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