Insurance
Question : Sun pharma Ltd., reported Net Profit after Tax of Rs. 6,10,000 for the year ended 31 st March, 2020. The relevant extract from Balance Sheet as at 31 st March, 2020 is:
Depreciation charged on Plant and Machinery Rs. 55,000, tax provided during the year Rs 15,000 and insurance claim received Rs. 50,000, gain (profit) on sale of investment Rs. 20,000 appeared in the Statement of Profit and Loss for the year ended 31st March, 2020.
Cash Flow from Operating Activities are ____________.
Option 1: Rs 6,36,000
Option 2: Rs 6,66,000
Option 3: Rs 6,96,000
Option 4: Rs 6,86,000
Correct Answer: Rs 6,86,000
Solution : Answer = Rs 6,86,000
Hence, the correct option is 4.
Question : Which among the following was set up in 1956 by the Indian Government by nationalising all the existing private sector life insurance companies?
Option 1: United India Insurance Company Limited
Option 2: General Insurance Corporation of India
Option 3: New India Assurance Company Limited
Option 4: Life Insurance Corporation of India
Correct Answer: Life Insurance Corporation of India
Solution : The correct option is Life Insurance Corporation of India.
The Government of India nationalised the private life insurance companies already in operation, creating the Life Insurance Corporation of India (LIC) in 1956. The action, which was a component of the banking sector's nationalisation agenda, resulted in the establishment of a state-owned monopoly in India's life insurance market.
Question : Medical Insurance Scheme for State Employees and Pensioners (abbr. MEDISEP) is a unique and comprehensive social insurance scheme. This scheme was implemented by which state government?
Option 1: Karnataka
Option 2: Chhattisgarh
Option 3: Kerala
Option 4: Rajasthan
Correct Answer: Kerala
Solution : The correct answer is Kerala.
All active and retired employees of the Kerala State Government and the Kerala High Court currently covered by the Kerala Government Servants Medical Attendant Rules [1960] are to receive full medical insurance coverage under the MEDISEP scheme.
Question : The General Insurance (Amendment) Act, 2021 removes the provision that required the Central Government to have at least __________ownership in four subsidiaries of General Insurance Company, namely, National Insurance, New India Assurance, Oriental Insurance, and United India Insurance.
Option 1: 75%
Option 2: 49%
Option 3: 51%
Option 4: 80%
Correct Answer: 51%
Solution : The correct answer is 51%.
The General Insurance (Amendment) Act of 2021 removes the provision that required the Central Government to have at least 51% ownership in four subsidiaries of General Insurance Company, namely, National Insurance, New India Assurance, Oriental Insurance, and United India Insurance. The bill increases the limit on foreign investment in an Indian insurance company from 49% to 74% and removes restrictions on ownership and control.
Question : Which of the following is a regulatory authority for the Indian stock market?
Option 1: RBI (Reserve Bank of India)
Option 2: SEBI (Securities and Exchange Board of India)
Option 3: IRDAI (Insurance Regulatory and Development Authority of India)
Option 4: PFRDA (Pension Fund Regulatory and Development Authority)
Correct Answer: SEBI (Securities and Exchange Board of India)
Solution : The correct answer is (b) SEBI (Securities and Exchange Board of India).
SEBI (Securities and Exchange Board of India) is the regulatory authority for the Indian stock market. It is an independent statutory regulatory body established in 1988 and operates under the jurisdiction of the Ministry of Finance, Government of India. SEBI's primary objective is to protect the interests of investors and promote the development and regulation of the securities market in India.
SEBI plays a vital role in regulating various participants in the Indian securities market, including stock exchanges, brokers, merchant bankers, portfolio managers, and other market intermediaries.
Question : Which regulatory body oversees microfinance institutions in India?
Option 1: Reserve Bank of India (RBI)
Option 2: Ministry of Finance
Option 3: Insurance Regulatory and Development Authority of India (IRDAI)
Option 4: Securities and Exchange Board of India (SEBI)
Correct Answer: Reserve Bank of India (RBI)
Solution : The correct option is the Reserve Bank of India (RBI).
The regulatory body that oversees microfinance institutions in India is the Reserve Bank of India (RBI). The RBI regulates and supervises microfinance activities in the country to ensure their stability and compliance with applicable regulations.
Question :
Which one of the following disburses long-term loans to private industry in India?
Option 1:
Food Corporation of India
Option 2:
Life Insurance Corporation of India
Option 3: Primary Credit Society
Option 4: Land Development Banks
Correct Answer: Land Development Banks
Solution : The correct answer is Land Development Banks.
The Land Development Bank is a commercial type of bank in India. The first bank was initiated in 1960 in Punjab to develop land and agriculture. It provides medium and long-term loans to small and medium-scale industries.
Hi!
National Law University, Jodhpur offers an MBA in Insurance programme through its School of Insurance Studies . Every year, a number of reputed domestic and International Law Firms, and Insurance companies participate in the placement process, and hire students. According to the placement data released by the NLU Jodhpur , the highest package offered to the MBA Insurance programme students stood at Rs. 6.25 LPA, and the average package of the placed graduates stood at Rs. 5 LPA . A number of Insurance companies, Broking Houses and Law firms hire students.
Question : The e-NAM (National Agricultural Market) platform was launched by the Indian government to facilitate:
Option 1: Online agricultural commodity trading
Option 2: Farmer producer organizations (FPOs)
Option 3: Crop insurance for farmers
Option 4: Rural electrification
Correct Answer: Online agricultural commodity trading
Solution : The correct answer is (a) Online agricultural commodity trading.
The e-NAM platform is an online platform that connects agricultural markets (mandis) across the country to create a unified national market for agricultural commodities. It aims to provide farmers with a transparent and efficient system for selling their produce and enable buyers to access a wider range of agricultural commodities from different regions.
Through the e-NAM platform, farmers can register and upload details of their produce, including quantity and expected price, for sale. The platform provides transparent price discovery, eliminates middlemen, and enables farmers to receive fair prices for their produce. It also facilitates online bidding and allows buyers to purchase agricultural commodities directly from farmers.
The e-NAM platform promotes a competitive market environment, reduces transaction costs, enhances market access for farmers, and improves price realization for their agricultural produce. It aims to create a more efficient and integrated agricultural marketing system in the country.
Question : The Securities and Exchange Board of India (SEBI) is responsible for:
Option 1: Regulating and supervising the capital market
Option 2: Regulating and supervising the money market
Option 3: Regulating and supervising the insurance market
Option 4: Regulating and supervising the commodity market
Correct Answer: Regulating and supervising the capital market
Solution : The correct answer is (a) Regulating and supervising the capital market.
The Securities and Exchange Board of India (SEBI) is the regulatory body in India that is responsible for regulating and supervising the capital market. SEBI's primary objective is to protect the interests of investors and promote the development and regulation of the securities market in India. SEBI plays a crucial role in regulating various participants in the capital market, such as stock exchanges, brokers, merchant bankers, and other intermediaries. It formulates regulations and guidelines to ensure fair and transparent practices, prevent fraud and market manipulation, and promote investor education and awareness.
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