banking, security market & insurance section 1 Practice Questions Answers Test with Solutions & More Shortcuts
Banking, Security Market & Insurance PRACTICE TEST [5 - EXERCISES]
banking, security market & insurance section 1
banking, security market & insurance section 2
banking, security market & insurance section 3
banking, security market & insurance section 4
banking, security market & insurance section 5
Question : 6 [IAS 2017]
Who among the following can join the National Pension System (NPS)?
a) All State Government employees joining the services after the date of notification by the respective State Governments
b) Persons of age from 21 to 55 only
c) Resident Indian citizens only
d) All Central Government employees including those of Armed Forces joining the services on or after 1st April, 2004
Answer »Answer: (a)
Any Indian between 18 to 55 can join NPS. So “B” is wrong.
NRIs are allowed to open NPS account as per PFRDA norms. So “C” is wrong.
NPS was compulsory for new central govt recruits (except armed forces) WEF 1/1/2004. so “D” is wrong.
Question : 7
Consider the following statements in regard to ‘Marginal Standing Facility (MSF)’ of RBI :
- It will help in reducing volatility in the overnight lending rates in the inter-bank market.
- The borrowing under the MSF should be over and above the statutory liquidity requirement.
a) Both 1 and 2
b) 2 only
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (c)
Marginal Standing Facility (MSF) is the rate at which scheduled banks could borrow funds overnight from the Reserve Bank of India (RBI) against approved government securities.
Banks can borrow funds through MSF during acute cash shortages (considerable shortfall of liquidity).
This measure has been introduced by RBI to regulate short-term asset-liability mismatch more effectively and the borrowing is within Statutory liquidity requirements.
The Marginal Standing Facility (MSF) is pegged 100bps or 1 % above the Repo Rate.
Question : 8
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.
Question : 9 [UP-PCS 2008]
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.
IMPORTANT indian economy mcq EXERCISES
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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