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Old 25th July 2015, 04:25 PM
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Default Re: General Insurance Corporation of India Question Paper

As you want I am here giving you here sample question paper for General and Financial Awareness section of General Insurance Corporation of India exam.

Sample paper :
General Insurance Corporation of India paper
1. The present Cash Reserve Ratio is—

(A) 5%

(B) 5.5%


(C) 6%

(D) 6.5%

(E) None of these

Ans : (C)



2. One of the objectives of KYC (Know Your Customer) norms is—

(A) to give boost to bank deposits

(B) to safeguard banks advances

(C) to monitor transactions of suspicious nature


(D) to help income tax authorities to collect income tax

(E) None of these

Ans : (C)



3. Contribution to Prime Minister's relief fund enjoys Income Tax benefit up to—

(A) 50% under section 80G

(B) 75% under section 80G

(C) 100% under section 80 G

(D) 100% under section 88


(E) No exemption is available

Ans : (C)



4. Which of the following activities are expected to be performed by the Business correspondents ?

(A) Disbursal of small value credit

(B) Collection of small value deposits

(C) Sale of micro insurance /mutual fund products

(D) All the three above

(E) Only (B) and (C) above


Ans : (E)



5. Tax at source by banks is deducted on interest paid on term deposits in the interest amount in a financial year exceeds—

(A) Rs. 3,000

(B) Rs. 5,000

(C) Rs. 10,000

(D) Rs. 15,000

(E) There is no such provision

Ans : (B)






6. Securitisation and Reconstruction of Financial Assets and Enforcement of security Interest Act relates to—

(A) Sanction of loans

(B) Enhancement of loan limits

(C) Recovery of loans

(D) All the above

(E) None of above

Ans : (C)




7. MSMED Act is applicable to—

(A) Smalls enterprises only

(B) Medium enterprises only

(C) Micro enterprises only

(D) Micro, Small and Medium enterprises

(E) All enterprises irrespective of their size engaged in manufacturing activity

Ans : (D)



8. Money Laundering refers to—


(A) Conversion of assets into cash

(B) Conversion of Money which is illegally obtained

(C) Conversion of cash into gold

(D) Conversion of gold into cash

(E) None of the above

Ans : (B)



9. The Monetary and Credit Policy is reviewed by the RBI after a gap of—

(A) one year


(B) one month

(C) two years

(D) five years

(E) None of these

Ans : (E)



10. PPF account is opened for a period of—

(A) 5 years

(B) 10 years


(C) 15 years

(D) 20 years

(E) None of these

Ans : (C)



11. Yuan is the currency of—

(A) Japan

(B) China

(C) Indonesia


(D) Myanmar

(E) None of these

Ans : (B)



12. National savings certificate matures at the end of—

(A) Six years

(B) Three years

(C) Six and half years

(D) Five years


(E) Five and half years

Ans : (A)



13. Normally Bank accept Fixed Deposits for a maximum period of—

(A) 5 years

(B) 3 years

(C) 10 years

(D) 20 years

(E) Any number of years


Ans : (E)



14. Code of banks commitment to Micro and Small enterprises is prepared by—

(A) RBI

(B) SEBI

(C) FEDAI

(D) BCSBI

(E) Ministry of Small and Medium Enterprises

Ans : (E)




15. Which one of the following is not a salient feature of debit card ?

(A) No bad debts to banks and no suits for recovery

(B) No interest earning for banks

(C) Works like a normal withdrawal

(D) All the above

(E) 45 dayes credit is given to the card holder

Ans : (E)




16. IFRS stands for—

(A) International Financial Reporting standards

(B) Indian Financial Rating Standards

(C) International Financial Rating Standards

(D) All the three above

(E) None of the above

Ans : (A)



17. What is the present Repo Rate ?


(A) 5%

(B) 5•5%

(C) 6%

(D) 6•5%

(E) None of these

Ans : (E)



18. There are certain financial instruments whose prices are derived from the price of the underlying currency of interest rate or stocks etc. These are known as—


(A) Derivatives

(B) Securitisation

(C) Leasing

(D) Factoring

(E) Venture Capital Funding

Ans : (A)



19. What is the full form of ASBA ?

(A) Allotment supported by Blocked Amount


(B) Application supported by Blocked Amount

(C) Application supported by Bank Amount

(D) Allotment supported by Bank Account

(E) None of the above

Ans : (B)



20. Reverse Repo is used by RBI to—

(A) Inject liquidity

(B) Absorb liquidity


(C) Increase the liquidity with banking system

(D) Keep the liquidity at one level

(E) None of the above

Ans : (D)



21. Which of the following is not considered as lending under infrastructure sector ?

(A) A Highway project

(B) Construction of Educational Institution


(C) Construction of Hospital

(D) Laying down of petroleum pipelines

(E) None of the above

Ans : (E)



22. KYC guidelines have been framed on the recommendations/as per guidelines of—

(A) Reserve Bank of India

(B) Ministry of Finance

(C) Indian Banks Association


(D) Financial Action Task Force

(E) Ministry of Home affairs

Ans : (A)



23. The term ‘Power of Attorney’ refers to—

(A) Power of a person

(B) An authority to operate a Bank account

(C) An instrument by which a person is empowered to act for another person


(D) All of the above

(E) None of the above

Ans : (C)



24. What is the amount of compensation to be paid per day, as per RBI directives in case of failed ATM transactions ?

(A) Rs. 50

(B) Rs. 100

(C) Rs. 200

(D) Rs. 500


(E) It is at the discretion of each Bank

Ans : (B)



25. Financial Action Task Force has an office in India at which place ?

(A) Mumbai

(B) Chennai

(C) Kolkata

(D) New Delhi

(E) All the above places


Ans : (D)



26. Bridge loans refer to—

(A) Loans granted to contruction companies for construction of bridges

(B) Loan granted to PWD for construction of bridges over Rivers

(C) Interim finance allowed by banks to their customers pending disbursement of term loans by financial institutions

(D) All of the above

(E) None of the above

Ans : (C)




27. Payment of Demand Draft can be stopped by—

(A) Payee

(B) Holder

(C) Purchaser

(D) All of these

(E) None of these

Ans : (A)



28. Can any one file an appeal against the order passed by the Banking Ombudsman ? If so who is the Appellate Authority ?


(A) The Chairman of concerned Bank

(B) The Deputy Governor RBI

(C) Governor of RBI

(D) Finance Minister

(E) None of the above

Ans : (B)



29. For which one of the following reasons, the Government has approved a plan to infuse Rs. 15,000 crore capital into PSBs ?

(A) To boost their lending capacity


(B) To maintain minimum CRAR as per Basel II norms

(C) To maintain NPA provision coverage ratio

(D) To strengthen the Balance Sheet of banks

(E) None of these

Ans : (A)



30. What is monetary policy transmission ?

(A) It refers to monetary policy of Central Bank

(B) It refers to fiscal policy of Government


(C) It refers to various channels through which the monetary policy of a Central Bank alters prices or output in the real economy

(D) It refers to various channels through which the fiscal policy of the Government alters prices or output in the real economy

(E) None of these

Ans : (C)



31. On which one of the following issue IMF has supported monetary policy of India ?

(A) Tightening of monetary policy

(B) Stimulus for agriculture sector

(C) Concessions for foreign investment


(D) Introduction of GST

(E) None of these

Ans : (A)



32. The advantage of convenience in credit card operations is for—

(A) Customer

(B) Members Establishments

(C) Banks

(D) All the above


(E) None of the above

Ans : (D)



33. Under provisions of which one of the following Acts, CAs/CS have been told to report all suspicious fund trasnfers ?

(A) RBI Act

(B) Banking Regulation Act

(C) Indian Companies Act

(D) Unlawful Activities (Prevention) Act

(E) None of these


Ans : (D)



34. Bancassurance is—

(A) an insurance scheme to insure bank deposits

(B) an insurance scheme exclusively for the employees of banks

(C) a composite financial service offering both bank and insurance product

(D) a bank deposits scheme exclusively for employees of insurance companies

(E) None of the above

Ans : (C)




35. In the term STRIPS, the first letter ‘S’ denotes—

(A) Separate

(B) Small

(C) Special

(D) Savings

(E) None of these

Ans : (A)




36. Which of the following organizations, provide credit history of the borrowers ?

(A) CIBIL

(B) SEBI

(C) RBI

(D) CRISIL

(E) IBA

Ans : (A)



37. Loans/advances to farmers is treated as—


(A) Personal Loans

(B) Priority Sector Loan

(C) Business Loan

(D) Corporate Loan

(E) None of these

Ans : (B)



38. Which one of the following Organisations maintains CRR ?

(A) RBI


(B) SEBI

(C) NABARD

(D) IBA

(E) None of these

Ans : (A)



39. When the loan is granted for purchase of white goods it is called—

(A) Consumption loan

(B) White goods loan


(C) Consumer durable loan

(D) All the above

(E) None of the above

Ans : (C)



40. Which one of the following is the objective of Mahatma Gandhi National Rural Employment Guarantee Act ?

(A) To provide 100 days employment to people in rural areas

(B) To provide employment to educated youth

(C) To provide employment under KVIC schemes


(D) To create more valuable rural assets

(E) None of these

Ans : (A)



41. Structure of Basel II is based on how many pillars ?

(A) Two

(B) Three

(C) Four

(D) Eight


(E) Six

Ans : (B)



42. With which one of the following ‘Channel Financing’ is associated ?

(A) Retail Lending

(B) Corporate Lending

(C) SME Lending

(D) Supply Chain Finance


(E) None of these

Ans : (D)



43. Expand the term FRBM—

(A) Financial Responsibility and Business Management

(B) Fiscal Responsibility and Business Management

(C) Financial Responsibility and Budget Management

(D) Fiscal Responsibility and Budget Management

(E) None of these


Ans : (D)



44. A customer can approach Banking ombudsman if he does not get satisfactory response to his grievance from the bank within how many days ?

(A) 10 days

(B) 20 days

(C) 8 days

(D) 30 days

(E) 60 days

Ans : (D)




45. Which one of the following country is in talks with EU and International Monetary Fund, to exit from debt crisis ?

(A) Spain

(B) Turkey

(C) Portugal

(D) Greece

(E) Finland

Ans : (D)



46. For achieving 8•5 percent GDP growth in fiscal 2010-11, which one of the following should be percent growth in farm sector ?


(A) 2•0

(B) 2•5

(C) 3•0

(D) 4•0

(E) None of these

Ans : (C)




47. According to a report submitted by IMF in its World Economic Outlook, which one of the following countries will have highest percent GDP growth rate in 2011 ?

(A) China

(B) India

(C) Brazil

(D) Russia

(E) None of these

Ans : (A)



48. Which one of the following has given ‘Aadhaar’ as its new brand name ?


(A) UIDAI

(B) Sports Ministry, GOI

(C) Ministry of Tourism, GOI

(D) NHAI

(E) None of these

Ans : (A)



49. Which of the following will help poor to come out of their poverty ?

1. Good Health Service


2. Freedom from illiteracy

3. Optimum Sex Ratio

(A) Only 1

(B) Only 2

(C) Only 1 and 2

(D) Only 3

(E) All 1, 2 and 3

Ans : (E)




50. Which one of the following is per cent Bank Rate ?

(A) 4.0

(B) 4.5

(C) 5

(D) 3.33

(E) None of these

Ans : (E)
more General Insurance Corporation of India Question Paper detail to attached a word file;
Attached Files
File Type: doc General Insurance Corporation of India Question Paper.doc (487.5 KB, 43 views)
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