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MFIS MCQ

Total questions: 100

Worksheet time: 50mins

Name
Class
Date
1.

1.Which of the following are characteristic of a financial intermediary?

a)

It introduces borrowers to lenders.

b)

It has assets which exceed liabilities.

c)

It increases liquidity for lenders

d)

It reduces transaction costs for borrowers and lenders.

2.

2.The ______ is created by a financial relationship between suppliers and users of short-term funds.

a)

Financial Market

b)

Money Market

c)

Stock Market

d)

Capital Market

3.

A market that enables suppliers and users of long-term funds to make transactions.

a)

Money Market

b)

Private Placement

c)

Financial Market

d)

Capital Market

4.

4.The sale of either bonds or stocks to the general public.

a)

Initial Offering

b)

Public Market

c)

Public Offering

d)

Open Market

5.

5.The central bank of the country__________

a)

Can influence deposit creation only now

b)

Can influence deposit creation

c)

Cannot influence deposit creation

d)

None of these

6.

6.Who mints the coins in India?

a)

Ministry of Finance

b)

Reserve Bank of India

c)

Prime Minister's Office

d)

Commerce and Industry Ministry

7.

7. The RBI issues all currency notes except_____

a)

₹500 notes

b)

₹100 notes

c)

₹10 notes

d)

₹ 1 note

8.

8. In which year the Reserve Bank of the India was established?

a)

1953

b)

1935

c)

1947

d)

1945

9.

Which statement is not true regarding RBI ?

a)

It was established in 1935.

b)

It can issue currency notes.

c)

Personal account can be opened in RBI.

d)

It is also known as the Banker's Bank.

10.

Commercial bank is a financial adviser of its _____________

a)

State bank

b)

Non Schedule Banks

c)

Account Holder

d)

other commercial banks

11.

Which of the following functions are performed by the commercial banks?

a)

Issuance of currency notes

b)

Rediscounting of bills

c)

Preparation of monetary policy

d)

Credit creation

12.

For the process of credit creation all the deposits (liabilities) of the bank are in the form of _____________

a)

Demand deposits

b)

Time deposits

c)

Saving deposits

d)

Foreign currency deposits

13.

For the bank, the amount of money in the account of the accountholder is called:

a)

Profit

b)

Deposit

c)

Interest

d)

Loan

14.

Credit creation is done under which of the following methods?

a)

Making Investment

b)

Providing Loans

c)

Discounting of Bill

d)

All of the above

15.

Credit money in the country is created by:

a)

Central Bank

b)

Commercial Bank

c)

Saving Banks

d)

Agriculture Banks

16.

This is described as a financial intermediary that exists between the borrowers and depositors.

a)

Government Social Institute Services

b)

Financial Institutions

c)

Banks

d)

Cooperatives

17.

It is a bank that is formed for commercial purposes and hence its primary aim is to earn profit from its banking business.

a)

Thrift Bank

b)

Commercial Bank

c)

Rural Bank

d)

Cooperatives

18.

This refers to a type of commercial banks that are nationalized by the government of a country.

a)

Public Sector Bank

b)

Private Sector Bank

c)

Foreign Bank

d)

Cooperatives

19.

This refers to a kind of commercial banks in which a major part of share capital is held by private businesses and individuals.

a)

Public Sector Bank

b)

Private Sector Bank

c)

Foreign Bank

d)

Cooperatives

20.

These cooperatives are owned and controlled by more than one type of membership class such as consumers, producers, workers, volunteers, or community supporters.

a)

Producers/Marketing Cooperatives

b)

Consumer Cooperatives

c)

Worker Cooperatives

d)

Multi-stakeholders Cooperatives

21.

The premiums under this scheme are lowest of all other plans and payable till death.

a)

Investment Plan

b)

Periodic Money back plan

c)

whole Life Schemes

d)

Joint Life Plan

22.

The policy begins as a whole life one but the life assured has the option to convert it into an endowment plan after a lapse of

a)

2 years

b)

3 years

c)

5 years

d)

4 years

23.

The premiums are broadly divided into two types

a)

Net Premium and Level premium

b)

Net Premium and Net Single Premium

c)

Net Premium and Gross Premium

d)

Gross premium and Level Premium

24.

According to the Life Insurance Act 1956, --------% of the profit of life insurance must be distributed to the policy holders as "bonus"

a)

100

b)

90

c)

85

d)

95

25.

Annuity is a form of __________, whereby in return for a certain sum of money paid in lump sum or instalments.

a)

Gratuity

b)

Bonus

c)

Pension

d)

Salary

26.

Foreign exchange reserves of India are kept in the custody of which of the following?

a)

All public sector banks

b)

Reserve Bank of India

c)

Foreign banks in India

d)

Government treasury

27.

1. Which of the following is the only public sector company in the field of life insurance?

a)

General insurance company

b)

Oriental insurance company

c)

New India assurance company

d)

Life Insurance corporation of India

28.

If an organization wishes to venture into Insurance Business it has to obtain a licence first from which of the following ?

a)

Indian Banks Association (IBA)

b)

Security and Exchange Board of India (SEBI)

c)

Tariff Advisory Committee (TAC)

d)

Insurance Regulatory and Development Authority of India (IRDAI)

29.

Fire insurance provides cover for:

a)

Tangible assets

b)

Intangible assets

c)

Fictitious assets

d)

Business employees

30.

What is the maximum period for referring motor insurance claim disputes to the Financial Ombudsman Service following an insurer advising the claimant of its final decision?

a)

12 months.

b)

3 years.

c)

6 Months

d)

6 years

31.

The other name of Imperial bank of India

a)

Bank of India

b)

Indian Bank

c)

State Bank of Indore

d)

State Bank of India

32.

The full form of NABARD ?

a)

National and Boardcasting and Research Development

b)

National Bank for Agriculture and Rural Development

c)

Nationwide agriculture board and rural district

33.

Name the various industries development banks ?

a)

IDBI

b)

ICICI

c)

EXIM

d)

SBI

34.

Services comes under ?

a)

Primary sector

b)

Tertiary sector

c)

Secondary sector

35.

Which regulatory body controls the market in India?

a)

SEBI

b)

IRDA

c)

RBI

d)

TRAI

36.

The Securities and Exchange Board of India was not entrusted with the function of

a)

Investor Protection

b)

Ensuring Fair Practices by Companies

c)

Promotion of efficient service by brokers

d)

Improving the earning of equity holders

37.

When was SEBI constituted?

a)

April 1988

b)

March 1982

c)

July 1992

d)

March 1974

38.

Which of the following statement is NOT correct about the SEBI

a)

At present it is a non statutory body

b)

At present it is a statutory body

c)

It got statutory powers by an ordinance in 1992

d)

SEBI is managed by 6 members

39.

Who appoints the chairman of SEBI?

a)

Central Government

b)

Stock Exchange

c)

Brokers

d)

Investors

40.

Consider the following statements about SEBI:

1. Protection of the interest of investors.

2. SEBI is the not constitutional institution.

3. The regulation and development of securities market.

4. Registering the collective investment plans of mutual funds and its regulation

a)

1 and 2

b)

2 and 3

c)

all the above

d)

Only 2

41.

One of them is not the regulatory function of SEBI

a)

Regulating the business in stock exchange

b)

Registration and regulating the working of Stock Brokers, Sub – Brokers, Merchant Bankers, Depository participants and other intermediaries

c)

Regulation of Collective Investment Schemes

d)

Conducting research and publishing market information which are useful to all market participants

42.

3. When was BSE established?

a)

(A) 1875

b)

(B) 1987

c)

(C) 1985

43.

The primary market is also called

a)

New issue market

b)

IPo

c)

stock exchange

d)

over the counter market

44.

5. What is an IPO?

a)

Initial Polling Office

b)

Initial Public Offering

c)

International Public Office

d)

Increasing Public Opportunity

45.

6. Commercial paper is an example of a:

a)

(A) capital market instrument.

b)

(B) money market instrument.

46.

7. Who is the chairman of SEBI?

a)

Ajay Tyagi

b)

Arvind Panagariya

c)

C. Rangarajan

d)

Raghuram Rajan

47.

8. Who make benefit from share market price differences?

a)

Arbitrageurs

b)

Speculator

c)

Gambler

d)

Broker

48.

10. Compared to money market securities, capital market securities have

a)

more liquidity

b)

longer maturity

c)

lower yields

d)

less risk

49.

The central office of the Life Insurance Corporation of India (LIC) is located at

a)

1) Kolkata

b)

2) New Delhi

c)

3) Chennai

d)

4) Pune

e)

5) Mumbai

50.

If an organization wishes to venture into Insurance Business it has to obtain a licence first from which of the following ?

a)

1) Indian Banks Association (IBA)

b)

2) Security and Exchange Board of India (SEBI)

c)

3) Tariff Advisory Committee (TAC)

d)

4) Insurance Regulatory and Development Authority of India (IRDAI)

e)

5) None of these

51.

Which of the following was the parent company of New India Assurance ?

a)

1) LIC

b)

2) GIC

c)

3) Oriental Insurance Co. Ltd.

d)

4) United India Insurance

e)

5) None of these

52.

Which of the following is the only public sector company in the field of life insurance?

a)

A General insurance company

b)

B New India assurance company

c)

C Oriental insurance company

d)

D Life Insurance Corporation of India

53.

Which of the following is the regulator of insurance sector in India?

a)

A RBI

b)

B AMFI

c)

C IRDA

d)

D SEBI

54.

With which of the fields is actuarial science associated?

a)

A Insurance

b)

B Banking

c)

C Micro-finance

d)

D Space technology

55.

Which amongst the following is not an insurance company functioning in India?

a)

A ICICI prudential

b)

B ING Vysya

c)

C National Securities Depository Limited

d)

D New India Assurance company

56.

Which of the following is/are the various types of insurance?

1. Life insurance

2. Health insurance

3. Liability insurance

a)

A Only (a)

b)

B Only (a) and (b)

c)

C Only (b) and (c)

d)

D All the three

57.

What are the benefits of investing in Mutual Fund?

a)

Professional Management

b)

Convenience

c)

Tax Efficiency

d)

All of the above

58.

There are how many Sub categories for Debt Mutual fund?

a)

11

b)

7

c)

16

d)

18

59.

Small cap fund will invest minimum.

a)

80% assets in Large cap stocks.

b)

65% assets in Mid cap stocks

c)

80% assets in Small cap stocks.

d)

65% assets in Small cap stocks.

60.

A sectoral fund is a ...?

a)

Low risk fund

b)

Moderate risk fund

c)

High risk fund

d)

Low-to-moderate risk fund

61.

In which hybrid fund category portfolio allocation would be - Equity - 10 to 25% and Debt - 75% to 90%

a)

Conservative Hybrid

b)

Balanced Hybrid

c)

Aggressive Hybrid

d)

Equity Savings

62.

Overnight Fund will invest in

a)

Securities with maturity of 1 month.

b)

Securities with maturity of upto 91 days.

c)

Securities with maturity of upto 1 year.

d)

None of the above

63.

What should be the portfolio duration for Medium Duration fund?

a)

1 to 3 Years

b)

3 to 4 Years

c)

4 to 7 Years

64.

Short term capital gains from equity funds are taxed at:

a)

20.8%

b)

10.4%

c)

15.6%

d)

As per Tax slab of Investor

65.

Which Commission recommended the formation of Reserve Bank of India (RBI) ?

a)

Hilton Young Commission

b)

Kelkar Commission

c)

B. shivaraman commission

d)

Jain commission

66.

Who is the present Governor of RBI ?

a)

Dr. Raghuram Rajan

b)

Dr. C Rangarajan

c)

Dr. Manmohan Singh

d)

Sri. Shakthikanta Das

67.

Which of the following is not the work of RBI?

a)

Bank of the banks

b)

Credit controller

c)

Custodian of foreign currency

d)

Allocating funds directly to the farmers for agricultural development

68.

Which of the following words is not used in Monetary Policy?

a)

Cash reserve ratio

b)

Repo Rate

c)

Bank rate

d)

Moral policing

69.

Rupee coins are the legal tender in India under the provisions of?

a)

The Reserve Bank of India Act, 1934

b)

Indian Coinage Act, 1906

c)

Banking Regulation Act, 1949

d)

Negotiable instruments Act, 1881

70.

The IDBI was established in

a)

1964

b)

1965

c)

1966

d)

1967

71.

The financial institute IFCI established in

a)

1947

b)

1948

c)

1949

d)

1950

72.

Which of these DFI was primarily set up for the development of the Micro, Small and Medium Enterprise (MSME) sector?

a)

NABARD

b)

IDBI

c)

SIDBI

d)

IFCI

73.

Which bank is a specialized financial institution for financing, facilitating and promoting foreign trade of India?

a)

ICICI

b)

EXIM

c)

NABARD

d)

IFCI

74.

Rbi is made according to the provisions of which act?

a)

RBI Act 1931

b)

RBI Act 1932

c)

RBI Act 1934

d)

RBI Act 1933

75.

The central office was moved to ____ in ____

a)

Mumbai ,1937

b)

Hyderabad ,1936

c)

Mumbai ,1938

d)

Hyderabad ,1938

76.

Official Directors of rbi are________

a)

Governor and not more than 2 deputy governors

b)

Governor and not more than 1 deputy governor

c)

Governor and not more than 3 deputy governors

d)

Governor and not more than 4 deputy governors

77.

Local boards of rbi are situated in Mumbai , ______ , ________, New delhi and is appointed by goi for a tenure of ___ years with a maximum of ___ members.

a)

Chennai , Bangalore , 5, 6

b)

Chennai , Calcutta , 4 , 5

c)

Calcutta , Bangalore , 4,5

d)

Bangalore , Chennai , 5,4

78.

RBI performs financial supervision under guidance of_______

a)

Board for financial supervision (BFS)

b)

Department of financial supervision (DFS)

c)

Committee of financial supervision (CFS)

d)

Board for financial inclusion ( BFI )

79.

Board for BFS is constituted by co-opting _____ directors from the_____ board and is chaired by ________

a)

3, Central , Governor

b)

4 , central , deputy governor

c)

4 , central , governor

d)

3 , central , deputy governor

80.

Capital Market is a market for

a)

long term assets

b)

short term assets

c)

Medium term assets

d)

none of the above

81.
What are stocks?
a)
Shares of ownership in a corporation.
b)
Shares of trading in a corporation.
c)
Bonds with potential to make money.
d)
Bonds that are traded.
82.
Why do companies issue stocks?
a)
To create and investment opportunity into other businesses.
b)
To increase employee cooperation and an operating level.
c)
To be traded individually
d)
To raise money for economic investment and to fund operating costs.
83.
What are stocks?
a)
Shares of ownership in a corporation.
b)
Shares of trading in a corporation.
c)
Bonds with potential to make money.
d)
Bonds that are traded.
84.

The primary market is also called

a)

New issue market

b)

IPo

c)

stock exchange

d)

over the counter market

85.

Statutory body governing the capital market

a)

Commercial Banks

b)

RBI

c)

SEBI

d)

IDBI

86.

Money added into a bank account.

a)

withdraw

b)

deposit

c)

cash

d)

cheque

87.

----------------- is based on the uncertain event whose result determined by chance or accident

a)

Gambling

b)

Speculation

c)

Dead cat bouncing

d)

Market fluctuations

88.
Commercial paper is an example of a:
a)
capital market instrument.
b)
money market instrument.
89.

Compared to money market securities, capital market securities have

a)

more liquidity

b)

longer maturity

c)

lower yields

d)

less risk

90.

Actions that are done for someone else

a)

Needs

b)

Wants

c)

Services

d)

Profit

91.

A person who purchases goods or services for personal use

a)

Producer

b)

Consumer

c)

Supply

d)

Demand

92.

Foreign trade consists of-

a)

Import

b)

Export

c)

Entrepot

d)

All of the above

93.

The name of the Policy of Govt. of India, dealing with international trade, is known as-

a)

Exim Policy

b)

Foreign Trade Policy

c)

Export Import Policy

d)

Policy on international trade

94.

The Authority responsible to implement/ regulate the foreign trade policy in India is-

a)

Director General of Commerce

b)

Commerce Minister, Government of India

c)

Director General of Shipping

d)

Director General of Foreign Trade

95.

As per general provision for import & export (Chapter 2 of FTP), the mandatory documents needed for import are-

a)

Bill of Lading, Invoice, Shipping Bill

b)

Bill of Lading, Invoice, Bill of Entry

c)

Bill of Lading, Mate Receipt, Shipping Bill

d)

Bill of Lading, Invoice, Bank Certificate

96.

The export target set by the Govt in FTP 2015-20, to be achieved during the last financial year of policy, was -

a)

480 billion USD

b)

670 billion USD

c)

850 billion USD

d)

900 billion USD

97.

Export Import Code (IEC) is issued by-

a)

Customs

b)

Director General of Foreign Trade

c)

Federation of Indian Export Organisation

d)

Indian Chamber of Commerce

98.

Trade deficit means-

a)

Value of export is higher than import

b)

Value of export is lower than import

c)

Value of export is equal to import

d)

None of the above

99.

The first two digits in ITC(HS) code indicates-

a)

Heading

b)

Sub heading

c)

Section

d)

Chapter

100.

One of the role of Indian Customs is to prevent -

a)

Unauthorized sale of goods leaving Indian boundary

b)

To issue Exim Policy

c)

Safeguard Indian coast from enemies

d)

Issue IEC code to exporters

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