1. Increased interest rates, as is existing in the economy at present will_______________
a) Mean lower cost of raw materials
b) Mean higher cost of raw materials
c) Mean higher wage bill
d) Lead to lower GDP growth
2. Insurance cover for bank deposits in our country is provided by ___________________
a) LIC
b) SBI
c) DICGC
d) GIC
3. Which of the following is an example of Financial assets?
a) Indira Vikas Patra
b) Krishi Vikas Patra
c) Infrastructure Bonds
d) National Saving Certificate
4. Money laundering means __________________________
a) Process of conversion of money obtained illegally to appear to have originated from legitimate sources to convert black money into white money
b) Money acquired from drug trafficking
c) Hiding of income source mainly to avoid income tax
d) Money acquired from undisclosed sources and deposited in foreign banks
5. A cheque returned for insufficiency of funds. Payee will have right to notice and approach court of law for justice under section 138 of which act?
a) Criminal Procedure Code
b) Negotiable Instrument Act
c) Payment and Settlement Act
d) Indian Penal Code
6. If you wish to purchase some US Dollars for your travel abroad, you should approach?
a) External Affairs Ministry
b) The Reserve Bank of India
c) The US Embassy
d) Any Bank Branch authorized to do such activity
7. Bank branches which can undertake foreign exchange business directly are known as ________________
a) Overseas branches
b) Exchange branches
c) Authorized dealers
d) Foreign dealers
8. The Financial Literacy does not include which of the following?
a) How to minimize the risks
b) How to reinvest the money earned
c) How to invest the funds
d) None of these
9. Which of the following schemes is launched to provide pension to people in unorganized sectors in India?
a) Jeevan Kalyan
b) Jeevan Dhara
c) Swavalamban
d) Swabhiman
10. By increasing repo rate, the economy may observe the following effects _____________________
a) Banks will increase rate of interest on deposits
b) Rate of interest on loans and advances will be costlier
c) Industry houses may borrow money from foreign countries
d) Industrial output would be affected to an extent
