MFS Test IMBA 2

Which of the following is a primary product offered by banks?

• Health insurance

• Fixed deposits

• Real estate services

• Agricultural products

Insurance that covers individuals against unforeseen personal health-related expenses is known as:

• Life insurance

• General insurance

• Health insurance

• Vehicle insurance

Wealth management services are primarily designed to help clients:

• Buy only physical assets

• Achieve long-term financial goals and manage their wealth effectively

• Avoid any financial planning

• Focus solely on short-term investments

Third-party insurance in motor insurance typically covers:

• Only the insured vehicle

• Damage caused to third parties by the insured vehicle

• The vehicle owner's life insurance

• Real estate assets

Which type of bank account is generally used for daily transactions without earning interest?

• Fixed deposit account

• Savings account

• Current account

• Recurring deposit account

Credit cards allow users to:

• Withdraw only from savings accounts

• Access a revolving line of credit for making purchases

• Accumulate interest on deposits

• Avoid all forms of debt

The Public Provident Fund (PPF) is primarily known for:

• High liquidity

• Tax-free interest and long-term savings

• Short-term investment gains

• Only being available for senior citizens

In reinsurance, the primary insurer:

• Transfers a portion of its risk to another insurance company

• Insures only tangible assets

• Focuses on direct customer insurance

• Sells all policies exclusively to individuals

Which of the following is a feature of mutual funds?

• They are exclusively risk-free

• Pool money from investors to invest in diversified securities

• Require only single-investor participation

• Do not provide returns based on market performance

The main purpose of post office deposits in India is to:

• Offer banking facilities only in metropolitan areas

• Provide secure savings options to citizens across the country

• Replace all commercial bank services

• Offer investment in real estate