LIC AAO Mains 2019- Financial and Insurance Market Questions | 18th June

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LIC AAO Mains 2019- Financial and Insurance Market Questions | 18th June

LIC AAO Mains 2019- Financial and Insurance Market Questions

As we know, LIC has released both the vacancies of AAO (Assistant Administrative Officer) & ADO (Apprentice Development Officer). Insurance Market & Financial Awareness is a newly introduced section which will be asked in both the exams. LIC AAO mains 2019 is scheduled to be held on 28th June. While LIC ADO Prelims 2019 is scheduled to be held on 6th & 13th July. Here is a quiz on Insurance Market & Financial Awareness being provided by Adda247 for free to let you practice the best of latest pattern Questions for LIC examination for sure shot selection.



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Q1. Who is the Chairman of LIC of India?
MR Kumar
Hemant Bhargava
Subhash Chandra Garg
Girish Chandra Murmu
Alice G Vaidyan
Solution:
Members On The Board Of The Corporation
MR Kumar, Chairman, LIC of India
Hemant Bhargava (Managing Director, LIC of India)
B Venugopal, (Managing Director, LIC of India)
TC Suseel Kumar, (Managing Director, LIC of India)
Vipin Anand Managing Director, LIC of India
Q2. Where is the headquarter of LIC?
Kolkata
Mumbai
New Delhi
Chennai
Hyderabad
Solution:
Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai.
Q3. The New India Assurance Company Limited (NIACL) was founded in-
1935
1921
1919
1949
1956
Solution:
NEW INDIA ASSURANCE CO. LTD, founded by Sir Dorabji Tata in 1919, a Multinational General Insurance Company operates in 28 countries and headquartered at Mumbai, India. Our global business crossed Rs. 22,270 crores in March 2017.
Q4. Who is present Chairman cum Managing Director of UIIC?
Susmita Mukherjee
M Shahul Hameed
Tajinder Sharma
Girish Radhakrishnan
Atul Sahai
Solution:
Girish Radhakrishnan is Chairman cum Managing Director of UIIC.
Q5. Where is the headquarter of NIACL?
Kolkata
Hyderabad
New Delhi
Chennai
Mumbai
Solution:
The headquarter of NIACL is in Mumbai.
Q6. United India Insurance Company Limited was incorporated as a Company on-
10th February 1956
26th February 1989
26th February 1949
18th February 1938
15th February 1919
Solution:
United India Insurance Company Limited was incorporated as a Company on 18th February 1938. General Insurance Business in India was nationalized in 1972.
Q7. Who is current Chairman cum Managing Director of NIACL?
Atul Sahai
M Shahul Hameed
Tajinder Sharma
Girish Radhakrishnan
Susmita Mukherjee
Solution:
Mr. Atul Sahai is present Chairman cum Managing Director of NIACL.
Q8. Where is the Head Office of UIIC?
Bengaluru
Mumbai
New Delhi
Kolkata
Chennai
Solution:
Chennai is the Head Office of UIIC.
Q9. The Oriental Insurance Company Ltd was incorporated at Bombay on-
12th September 1956
12th September 1947
12th September 1962
12th September 1982
12th September 1961
Solution:
The Oriental Insurance Company Ltd was incorporated at Bombay on 12th September 1947. The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country). In 2003 all shares of our company held by the General Insurance Corporation of India have been transferred to Central Government.
Q10. Where is the Head Office of National Insurance Company Limited (NICL)?
Hyderabad
Mumbai
Kolkata
Chennai
 New Delhi
Solution:
Kolkata is the Head Office of National Insurance Company Limited (NICL).
Q11. Which of the following is not a money market instrument?
Treasury Bills
Commercial Paper
Certificate of Deposit
Equity Share
None of the given options is true
Solution:
There are several money market instruments, including treasury bills, commercial paper, bankers' acceptances, deposits, certificates of deposit, bills of exchange, repurchase agreements, federal funds, and short-lived mortgage and asset-backed securities.
Q12. Maximum period for which a commercial paper can be issued is-
3 months
6 months
1 year
2 years
None of the given options is true
Solution:
CP can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. However, the maturity date of the CP should not go beyond the date up to which the credit rating of the issuer is valid.
Q13. Money laundering normally involved-
placement of funds
layering of funds
integrating of fund
All of the above
None of the given options is true
Solution:
Money laundering is the process of making illegally-gained proceeds (i.e., "dirty money") appear legal (i.e., "clean"). Typically, it involves three steps: placement, layering, and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is moved around to create confusion, sometimes by wiring or transferring through numerous accounts. Finally, it is integrated into the financial system through additional transactions until the "dirty money" appears "clean".
Q14. What is the meaning of Mixed economy?
co-existence of small and large industries
promoting both agriculture and industries in the economy
co-existence of public and private sectors
co-existence of the rich and the poor
existence of wholesale and retail markets
Solution:
A mixed economy is defined as an economic system consisting of a mixture of either markets and economic planning, public ownership and private ownership, or markets and economic interventionism.
Q15. Reason for cost push inflation is-?
increase in wage rate
increase in interest rate
increase in the price of raw material
increase in indirect tax
decrease in cost of production
Solution:
Cost push inflation is inflation caused by an increase in prices of inputs like labour, raw material, etc. The increased price of the factors of production leads to a decreased supply of these goods.
               



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