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Insurance MCQ Questions and Solutions with Explanations | Commerce

Insurance MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Insurance MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-6 section-10

Each section contains 100 MCQs on Insurance .
51
Fiscal policy is related with which of the following?
Discuss
Answer & Solution
Answer: Option A
Solution:
Fiscal policy is related with Public Revenue and Expenditure. In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to monitor and influence a nation's economy.
52
Which of the following organization decides Repo Rate?
Discuss
Answer & Solution
Answer: Option D
Solution:
RBI decides Repo Rate. Repo rate is the rate at which RBI lends to its clients generally against government securities. Reduction in repo rate helps the commercial banks to get money at a cheaper rate and increase in repo rate discourages the commercial banks to get money as the rate increases and becomes expensive.
53
What are true about IMF?
Discuss
Answer & Solution
Answer: Option E
Solution:
All the above are true about IMF.
It's headquarter is situated at Washington, D.C, It works to foster economic stability and global growth by providing policy, advice and financing to members, It negotiates conditions on lending and loans under their policy and It oversees the fixed exchange rate arrangements between countries.
54
Which bank is the sponsor of Prathama Gramin Bank?
Discuss
Answer & Solution
Answer: Option D
Solution:
Prathama Bank is the first Regional Rural Bank of India, established on 2nd October, 1975, sponsored by Syndicate Bank, with its Head Office at Moradabad in accordance with Regional Rural Bank Ordinance 1975 issued on 26th September, 1975 (Replaced later by Regional Rural Bank Act, 1976(2) of 1976 of Government of India).
55
Which of the following is not a public sector bank in India?
Discuss
Answer & Solution
Answer: Option B
Solution:
Federal Bank is not a public sector bank in India. Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Aluva Kerala.
56
What is the expanded form of the term ALM used in the banking sector?
Discuss
Answer & Solution
Answer: Option B
Solution:
ALM is the practice of managing risks that arise due to mismatches between the assets and liabilities.
57
Which of the following is not a part of India's Money Market?
Discuss
Answer & Solution
Answer: Option D
Solution:
Indian Gold Council is not a part of India's Money Market. The Money market in India is the money market for short-term and long-term funds with maturity ranging from overnight to one year in India including financial instruments that are deemed to be close substitutes of money.
58
Which one of the following does not belong to regulatory bodies in India?
Discuss
Answer & Solution
Answer: Option D
Solution:
SEBI does not belong to regulatory bodies in India. The Securities and Exchange Board of India was established as a non-statutory regulatory body in the year 1988, but it was not given autonomous, statutory powers until January 30, 1992, when the Securities and Exchange Board of India Act was passed by the Parliament of India.
59
Which one of the following is the special drawing rights given by the International Monetary Fund to its member countries?
Discuss
Answer & Solution
Answer: Option C
Solution:
Paper gold is the special drawing rights given by the International Monetary Fund to its member countries. It is an accounting entry. It is used only among governments and IMF for balance of payment settlements.
60
In pursuance of which one of the following was the General Insurance Corporation of India was formed?
Discuss
Answer & Solution
Answer: Option A
Solution:
The entire general insurance business in India was nationalized by the Government of India through the General Insurance Business (Nationalisation) Act of 197B.