JAIIB Previous Year Question Paper: Indian Economy and Indian Financial System(October 2023) | Mock Test Series for JAIIB Exam 2026 - Bank Exams PDF Download

 Page 1


 
   
1 
Q1. Which of the following is/are the promoters of NSDL? 
 1. Industrial Development Bank of India (IDBI) 
 2. Unit Trust of India (UTI) 
 3. BSE 
 4. NSE 
 (A) III & IV 
 (B) I, II, III 
 (C) I, II, III & IV 
 (D) I, III & IV 
 
Q2. CGTMSE is a financial initiative in India aimed at providing collateral-free credit facilities. It doesn't apply to 
which of the following? 
 (A) Micro Enterprises 
 (B) Small Enterprises 
 (C) Medium Enterprises 
 (D) It applies to all of the above 
 
Q3. What happens when a company spends more than the stipulated amount of their net profits on CSR in any year? 
(A) The excess amount spent on CSR is refunded to the company by the government as an incentive for exceeding 
CSR obligations. 
 (B) The excess amount spent can be set off against the CSR spending obligation in future years, subject to riders. 
(C) The excess amount spent on CSR is treated as a tax-deductible expense, reducing the company's overall tax 
liability. 
 (D) None of the above 
 
Q4. Which of the following statements best describes the term "Spot Price" in financial markets? 
 (A) The price of a financial instrument for delivery in the future 
 (B) The price at which a financial instrument is sold short 
 (C) The current market price of a financial instrument for immediate delivery and settlement 
 (D) The average price of a financial instrument over a specific time period 
 
Q5. Three companies, namely Alpha Corp, Beta Inc, and Gamma Ltd, have reported their annual profits for the last 
three financial years along with their Corporate Social Responsibility (CSR) expenditures for the financial year 
2022-2023. 
 • Alpha Corp 
  • Profit for 2019-2020: -?3 crores 
  • Profit for 2020-2021: ?12 crores 
  • Profit for 2021-2022: ?11 crores 
  • CSR spending for 2021-2022: ?0.30 crores 
 • Beta Inc: 
  • Profit for 2019-2020: ?0 crores 
  • Profit for 2020-2021: ?8 crores 
  • Profit for 2021-2022: ?7 crores 
  • CSR spending for 2021-2022: ?0.18 crores 
 • Gamma Ltd: 
  • Profit for 2019-2020: ?5 crores 
  • Profit for 2020-2021: ?6 crores 
  • Profit for 2021-2022: ?5.5 crores 
Page 2


 
   
1 
Q1. Which of the following is/are the promoters of NSDL? 
 1. Industrial Development Bank of India (IDBI) 
 2. Unit Trust of India (UTI) 
 3. BSE 
 4. NSE 
 (A) III & IV 
 (B) I, II, III 
 (C) I, II, III & IV 
 (D) I, III & IV 
 
Q2. CGTMSE is a financial initiative in India aimed at providing collateral-free credit facilities. It doesn't apply to 
which of the following? 
 (A) Micro Enterprises 
 (B) Small Enterprises 
 (C) Medium Enterprises 
 (D) It applies to all of the above 
 
Q3. What happens when a company spends more than the stipulated amount of their net profits on CSR in any year? 
(A) The excess amount spent on CSR is refunded to the company by the government as an incentive for exceeding 
CSR obligations. 
 (B) The excess amount spent can be set off against the CSR spending obligation in future years, subject to riders. 
(C) The excess amount spent on CSR is treated as a tax-deductible expense, reducing the company's overall tax 
liability. 
 (D) None of the above 
 
Q4. Which of the following statements best describes the term "Spot Price" in financial markets? 
 (A) The price of a financial instrument for delivery in the future 
 (B) The price at which a financial instrument is sold short 
 (C) The current market price of a financial instrument for immediate delivery and settlement 
 (D) The average price of a financial instrument over a specific time period 
 
Q5. Three companies, namely Alpha Corp, Beta Inc, and Gamma Ltd, have reported their annual profits for the last 
three financial years along with their Corporate Social Responsibility (CSR) expenditures for the financial year 
2022-2023. 
 • Alpha Corp 
  • Profit for 2019-2020: -?3 crores 
  • Profit for 2020-2021: ?12 crores 
  • Profit for 2021-2022: ?11 crores 
  • CSR spending for 2021-2022: ?0.30 crores 
 • Beta Inc: 
  • Profit for 2019-2020: ?0 crores 
  • Profit for 2020-2021: ?8 crores 
  • Profit for 2021-2022: ?7 crores 
  • CSR spending for 2021-2022: ?0.18 crores 
 • Gamma Ltd: 
  • Profit for 2019-2020: ?5 crores 
  • Profit for 2020-2021: ?6 crores 
  • Profit for 2021-2022: ?5.5 crores 
 
   
2 
  • CSR spending for 2021-2022: ?0.14 crores 
 Which of the following companies have met the CSR spending target as per the Companies Act of India? 
 (A) Alpha only 
 (B) Both Alpha and Beta 
 (C) All Alpha, Beta and Gamma 
 (D) None of the above 
 
Q6. Which of the following statements is incorrect regarding various financial institutions and instruments in India? 
(A) NBF-MFI stands for Non-Banking FinancialMicro Finance Institution and they are not allowed to accept public 
deposits. 
 (B) Mortgage Guarantee is an instrument where the guarantee is provided for a loan against residential property. 
 (C) IFC, or International Finance Corporation, is a subsidiary of the Reserve Bank of India (RBI). 
(D) NBFCs (Non-Banking Financial Companies) primarily engage in lending and investment activities, but cannot 
accept demand deposits. 
 
Q7. Universal banks in India were recommended by which of the following committees? 
 (A) Narasimham Committee 
 (B) Raghuram Rajan Committee 
 (C) Nachiket Mor Committee 
 (D) S.S. Tarapore Committee 
 
Q8. In which stage of the economic cycle do prices typically remain low due to the balance of money supply and 
demand? 
 (A) Expansion 
 (B) Peak 
 (C) Contraction 
 (D) Trough 
 
Q9. Which of the following formulas correctly represents how to calculate Net Domestic Product (NDP) at Factor Cost? 
 (A) NDP at Market Price - Indirect Taxes + Subsidies 
 (B) NDP at Market Price + Indirect Taxes Subsidies 
 (C) NDP at Market Price - Indirect Taxes Subsidies 
 (D) NDP at Market Price + Indirect Taxes + Subsidies 
 
Q10. What term is used to describe the grants in aid specifically given for the creation of capital assets? 
 (A) Fiscal Deficit 
 (B) Effective Revenue Deficit 
 (C) Primary Deficit 
 (D) Revenue Deficit 
 
Q11. Match the following credit ratings with their corresponding descriptions: 
1. AAA (A) Denotes adequate safety in terms of timely payment of interest and principal 
2. A (B) Double A denotes high safety in terms of timely payment of interest and principal 
3. BBB (C) Denotes substantial risk 
4. C (D) Triple B denotes moderate safety in terms of payment of interest and speculative 
grades 
 (A) 1-A, 2-B, 3-D, 4-C 
 (B) 1-B, 2-A, 3-D, 4-C 
Page 3


 
   
1 
Q1. Which of the following is/are the promoters of NSDL? 
 1. Industrial Development Bank of India (IDBI) 
 2. Unit Trust of India (UTI) 
 3. BSE 
 4. NSE 
 (A) III & IV 
 (B) I, II, III 
 (C) I, II, III & IV 
 (D) I, III & IV 
 
Q2. CGTMSE is a financial initiative in India aimed at providing collateral-free credit facilities. It doesn't apply to 
which of the following? 
 (A) Micro Enterprises 
 (B) Small Enterprises 
 (C) Medium Enterprises 
 (D) It applies to all of the above 
 
Q3. What happens when a company spends more than the stipulated amount of their net profits on CSR in any year? 
(A) The excess amount spent on CSR is refunded to the company by the government as an incentive for exceeding 
CSR obligations. 
 (B) The excess amount spent can be set off against the CSR spending obligation in future years, subject to riders. 
(C) The excess amount spent on CSR is treated as a tax-deductible expense, reducing the company's overall tax 
liability. 
 (D) None of the above 
 
Q4. Which of the following statements best describes the term "Spot Price" in financial markets? 
 (A) The price of a financial instrument for delivery in the future 
 (B) The price at which a financial instrument is sold short 
 (C) The current market price of a financial instrument for immediate delivery and settlement 
 (D) The average price of a financial instrument over a specific time period 
 
Q5. Three companies, namely Alpha Corp, Beta Inc, and Gamma Ltd, have reported their annual profits for the last 
three financial years along with their Corporate Social Responsibility (CSR) expenditures for the financial year 
2022-2023. 
 • Alpha Corp 
  • Profit for 2019-2020: -?3 crores 
  • Profit for 2020-2021: ?12 crores 
  • Profit for 2021-2022: ?11 crores 
  • CSR spending for 2021-2022: ?0.30 crores 
 • Beta Inc: 
  • Profit for 2019-2020: ?0 crores 
  • Profit for 2020-2021: ?8 crores 
  • Profit for 2021-2022: ?7 crores 
  • CSR spending for 2021-2022: ?0.18 crores 
 • Gamma Ltd: 
  • Profit for 2019-2020: ?5 crores 
  • Profit for 2020-2021: ?6 crores 
  • Profit for 2021-2022: ?5.5 crores 
 
   
2 
  • CSR spending for 2021-2022: ?0.14 crores 
 Which of the following companies have met the CSR spending target as per the Companies Act of India? 
 (A) Alpha only 
 (B) Both Alpha and Beta 
 (C) All Alpha, Beta and Gamma 
 (D) None of the above 
 
Q6. Which of the following statements is incorrect regarding various financial institutions and instruments in India? 
(A) NBF-MFI stands for Non-Banking FinancialMicro Finance Institution and they are not allowed to accept public 
deposits. 
 (B) Mortgage Guarantee is an instrument where the guarantee is provided for a loan against residential property. 
 (C) IFC, or International Finance Corporation, is a subsidiary of the Reserve Bank of India (RBI). 
(D) NBFCs (Non-Banking Financial Companies) primarily engage in lending and investment activities, but cannot 
accept demand deposits. 
 
Q7. Universal banks in India were recommended by which of the following committees? 
 (A) Narasimham Committee 
 (B) Raghuram Rajan Committee 
 (C) Nachiket Mor Committee 
 (D) S.S. Tarapore Committee 
 
Q8. In which stage of the economic cycle do prices typically remain low due to the balance of money supply and 
demand? 
 (A) Expansion 
 (B) Peak 
 (C) Contraction 
 (D) Trough 
 
Q9. Which of the following formulas correctly represents how to calculate Net Domestic Product (NDP) at Factor Cost? 
 (A) NDP at Market Price - Indirect Taxes + Subsidies 
 (B) NDP at Market Price + Indirect Taxes Subsidies 
 (C) NDP at Market Price - Indirect Taxes Subsidies 
 (D) NDP at Market Price + Indirect Taxes + Subsidies 
 
Q10. What term is used to describe the grants in aid specifically given for the creation of capital assets? 
 (A) Fiscal Deficit 
 (B) Effective Revenue Deficit 
 (C) Primary Deficit 
 (D) Revenue Deficit 
 
Q11. Match the following credit ratings with their corresponding descriptions: 
1. AAA (A) Denotes adequate safety in terms of timely payment of interest and principal 
2. A (B) Double A denotes high safety in terms of timely payment of interest and principal 
3. BBB (C) Denotes substantial risk 
4. C (D) Triple B denotes moderate safety in terms of payment of interest and speculative 
grades 
 (A) 1-A, 2-B, 3-D, 4-C 
 (B) 1-B, 2-A, 3-D, 4-C 
 
   
3 
 (C) 1-B, 2-A, 3-C, 4-D 
 (D) 1-D, 2-B, 3-A, 4-C 
 
Q12. Choose the correct statement regarding call and put options: 
 (A) A call option gives the holder the obligation to sell a stock at a specific price. 
 (B) A put option gives the holder the obligation to buy a stock at a specific price. 
 (C) A call option gives the holder the right to buy a stock at a specific price. 
 (D) A put option gives the holder the right to sell a stock at a specific price. 
 
Q13. Match the following types of mutual funds with their corresponding characteristics: 
Types of Mutual Funds Characteristics: 
1. Index Fund (A) An open-ended scheme replicating/tracking index – Minimum investment in 
securities of a particular index (which is being replicated/tracked) - 95% of 
total assets 
2. Funds of Fund (B) open-ended fund of fund scheme investing in fund (mention the underlying 
fund) - Minimum investment in the underlying fund - 95% of total assets 
3. ELSS (C) Provides liquidity solutions with low maturity and high credit quality 
4. Liquidity Fund (D) Equity-Linked saving Scheme - Provides tax benefits under section 80C 
 (A) 1-B, 2-A, 3-D, 4-C 
 (B) 1-A, 2-B, 3-D, 4-C 
 (C) 1-A, 2-B, 3-C, 4-D 
 (D) 1-D, 2-C, 3-A, 4-B 
 
Q14. Calculate the Insurance Density based on the following data: 
 • Gross Domestic Product (GDP): ?500 trillion 
 • Gross Value Added (GVA): ?400 trillion 
 • Total Population: 100 million 
 • Total Insurance Premium: ?2 trillion 
 (A) ?20,000 
 (B) ? 15,000 
 (C) ?10,000 
 (D) ?25,000 
 
Q15. The Government of India has envisioned achieving "Insurance for All by 2047" to commemorate 100 years of 
Independence. Which of the following objectives is least likely to be part of this insurance vision? 
 (A) Increasing the penetration of life and nonlife insurance across the rural and urban populace. 
 (B) Promoting innovative insurance products tailored to the specific needs of diverse demographic segments. 
 (C) Achieving a minimum insurance density comparable to global standards. 
 (D) Deregulating the insurance sector to allow for 100% foreign direct investment (FDI) without any conditions. 
 
Q16. The ________ acts as a Self-Regulatory Organisation (SRO) in the mutual fund industry. 
 (A) IRDAI 
 (B) RBI 
 (C) SEBI 
 (D) AMFI 
 
Q17. Under the Prime Minister Suraksha Bima Yojana (PMSBY), what is the risk coverage amount provided for 
accidental death or full disability due to an accident? 
Page 4


 
   
1 
Q1. Which of the following is/are the promoters of NSDL? 
 1. Industrial Development Bank of India (IDBI) 
 2. Unit Trust of India (UTI) 
 3. BSE 
 4. NSE 
 (A) III & IV 
 (B) I, II, III 
 (C) I, II, III & IV 
 (D) I, III & IV 
 
Q2. CGTMSE is a financial initiative in India aimed at providing collateral-free credit facilities. It doesn't apply to 
which of the following? 
 (A) Micro Enterprises 
 (B) Small Enterprises 
 (C) Medium Enterprises 
 (D) It applies to all of the above 
 
Q3. What happens when a company spends more than the stipulated amount of their net profits on CSR in any year? 
(A) The excess amount spent on CSR is refunded to the company by the government as an incentive for exceeding 
CSR obligations. 
 (B) The excess amount spent can be set off against the CSR spending obligation in future years, subject to riders. 
(C) The excess amount spent on CSR is treated as a tax-deductible expense, reducing the company's overall tax 
liability. 
 (D) None of the above 
 
Q4. Which of the following statements best describes the term "Spot Price" in financial markets? 
 (A) The price of a financial instrument for delivery in the future 
 (B) The price at which a financial instrument is sold short 
 (C) The current market price of a financial instrument for immediate delivery and settlement 
 (D) The average price of a financial instrument over a specific time period 
 
Q5. Three companies, namely Alpha Corp, Beta Inc, and Gamma Ltd, have reported their annual profits for the last 
three financial years along with their Corporate Social Responsibility (CSR) expenditures for the financial year 
2022-2023. 
 • Alpha Corp 
  • Profit for 2019-2020: -?3 crores 
  • Profit for 2020-2021: ?12 crores 
  • Profit for 2021-2022: ?11 crores 
  • CSR spending for 2021-2022: ?0.30 crores 
 • Beta Inc: 
  • Profit for 2019-2020: ?0 crores 
  • Profit for 2020-2021: ?8 crores 
  • Profit for 2021-2022: ?7 crores 
  • CSR spending for 2021-2022: ?0.18 crores 
 • Gamma Ltd: 
  • Profit for 2019-2020: ?5 crores 
  • Profit for 2020-2021: ?6 crores 
  • Profit for 2021-2022: ?5.5 crores 
 
   
2 
  • CSR spending for 2021-2022: ?0.14 crores 
 Which of the following companies have met the CSR spending target as per the Companies Act of India? 
 (A) Alpha only 
 (B) Both Alpha and Beta 
 (C) All Alpha, Beta and Gamma 
 (D) None of the above 
 
Q6. Which of the following statements is incorrect regarding various financial institutions and instruments in India? 
(A) NBF-MFI stands for Non-Banking FinancialMicro Finance Institution and they are not allowed to accept public 
deposits. 
 (B) Mortgage Guarantee is an instrument where the guarantee is provided for a loan against residential property. 
 (C) IFC, or International Finance Corporation, is a subsidiary of the Reserve Bank of India (RBI). 
(D) NBFCs (Non-Banking Financial Companies) primarily engage in lending and investment activities, but cannot 
accept demand deposits. 
 
Q7. Universal banks in India were recommended by which of the following committees? 
 (A) Narasimham Committee 
 (B) Raghuram Rajan Committee 
 (C) Nachiket Mor Committee 
 (D) S.S. Tarapore Committee 
 
Q8. In which stage of the economic cycle do prices typically remain low due to the balance of money supply and 
demand? 
 (A) Expansion 
 (B) Peak 
 (C) Contraction 
 (D) Trough 
 
Q9. Which of the following formulas correctly represents how to calculate Net Domestic Product (NDP) at Factor Cost? 
 (A) NDP at Market Price - Indirect Taxes + Subsidies 
 (B) NDP at Market Price + Indirect Taxes Subsidies 
 (C) NDP at Market Price - Indirect Taxes Subsidies 
 (D) NDP at Market Price + Indirect Taxes + Subsidies 
 
Q10. What term is used to describe the grants in aid specifically given for the creation of capital assets? 
 (A) Fiscal Deficit 
 (B) Effective Revenue Deficit 
 (C) Primary Deficit 
 (D) Revenue Deficit 
 
Q11. Match the following credit ratings with their corresponding descriptions: 
1. AAA (A) Denotes adequate safety in terms of timely payment of interest and principal 
2. A (B) Double A denotes high safety in terms of timely payment of interest and principal 
3. BBB (C) Denotes substantial risk 
4. C (D) Triple B denotes moderate safety in terms of payment of interest and speculative 
grades 
 (A) 1-A, 2-B, 3-D, 4-C 
 (B) 1-B, 2-A, 3-D, 4-C 
 
   
3 
 (C) 1-B, 2-A, 3-C, 4-D 
 (D) 1-D, 2-B, 3-A, 4-C 
 
Q12. Choose the correct statement regarding call and put options: 
 (A) A call option gives the holder the obligation to sell a stock at a specific price. 
 (B) A put option gives the holder the obligation to buy a stock at a specific price. 
 (C) A call option gives the holder the right to buy a stock at a specific price. 
 (D) A put option gives the holder the right to sell a stock at a specific price. 
 
Q13. Match the following types of mutual funds with their corresponding characteristics: 
Types of Mutual Funds Characteristics: 
1. Index Fund (A) An open-ended scheme replicating/tracking index – Minimum investment in 
securities of a particular index (which is being replicated/tracked) - 95% of 
total assets 
2. Funds of Fund (B) open-ended fund of fund scheme investing in fund (mention the underlying 
fund) - Minimum investment in the underlying fund - 95% of total assets 
3. ELSS (C) Provides liquidity solutions with low maturity and high credit quality 
4. Liquidity Fund (D) Equity-Linked saving Scheme - Provides tax benefits under section 80C 
 (A) 1-B, 2-A, 3-D, 4-C 
 (B) 1-A, 2-B, 3-D, 4-C 
 (C) 1-A, 2-B, 3-C, 4-D 
 (D) 1-D, 2-C, 3-A, 4-B 
 
Q14. Calculate the Insurance Density based on the following data: 
 • Gross Domestic Product (GDP): ?500 trillion 
 • Gross Value Added (GVA): ?400 trillion 
 • Total Population: 100 million 
 • Total Insurance Premium: ?2 trillion 
 (A) ?20,000 
 (B) ? 15,000 
 (C) ?10,000 
 (D) ?25,000 
 
Q15. The Government of India has envisioned achieving "Insurance for All by 2047" to commemorate 100 years of 
Independence. Which of the following objectives is least likely to be part of this insurance vision? 
 (A) Increasing the penetration of life and nonlife insurance across the rural and urban populace. 
 (B) Promoting innovative insurance products tailored to the specific needs of diverse demographic segments. 
 (C) Achieving a minimum insurance density comparable to global standards. 
 (D) Deregulating the insurance sector to allow for 100% foreign direct investment (FDI) without any conditions. 
 
Q16. The ________ acts as a Self-Regulatory Organisation (SRO) in the mutual fund industry. 
 (A) IRDAI 
 (B) RBI 
 (C) SEBI 
 (D) AMFI 
 
Q17. Under the Prime Minister Suraksha Bima Yojana (PMSBY), what is the risk coverage amount provided for 
accidental death or full disability due to an accident? 
 
   
4 
 (A) ?1 lakh 
 (B) ?5 lakh 
 (C) ?2 lakh 
 (D) ?10 lakh 
 
Q18. What is the life cover amount provided under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)? 
 (A) ?1 lakh 
 (B) ?3 lakh 
 (C) ?2 lakh 
 (D) ?5 lakh 
 
Q19. Which organization is responsible for regulating the Atal Pension Yojana (APY)? 
 (A) Reserve Bank of India (RBI) 
 (B) Pension Fund Regulatory and Development Authority (PFRDA) 
 (C) Insurance Regulatory and Development Authority of India (IRDAI) 
 (D) Securities and Exchange Board of India (SEBI) 
 
Q20. Under the Employees' Provident Fund (EPF), ________ % of the contribution goes to the EPF account, while 
________% goes to the Employees' Pension Scheme (EPS). 
 (A) 3.67,8.33 
 (B) 4.75,9.49 
 (C) 2.21,7.09 
 (D) 5.12,10.21 
 
Q21. Treasury bills in India generally do not come under which of the following maturity periods? 
 (A) 91 days 
 (B) 182 days 
 (C) 273 days 
 (D) 364 days 
 
Q22. Which of the following Sustainable Development Goals (SDGs) is specifically focused on taking action to combat 
climate change and its impacts? 
 (A) SDG 3: Good Health and Well-being 
 (B) SDG 7: Affordable and Clean Energy 
 (C) SDG 13: Climate Action 
 (D) SDG 16: Peace, Justice and Strong Institutions 
 
Q23. As of the latest guidelines, what is the maximum percentage of Foreign Direct Investment (FDI) permitted in the 
insurance sector in India? 
 (A) 49% 
 (B) 51% 
 (C) 74% 
 (D) 100% 
 
Q24. What is the name of the Reserve Bank of India's Centralized Database portal for financial transactions? 
 (A) BHIM 
 (B) e-Rupi 
 (C) e-Kuber 
Page 5


 
   
1 
Q1. Which of the following is/are the promoters of NSDL? 
 1. Industrial Development Bank of India (IDBI) 
 2. Unit Trust of India (UTI) 
 3. BSE 
 4. NSE 
 (A) III & IV 
 (B) I, II, III 
 (C) I, II, III & IV 
 (D) I, III & IV 
 
Q2. CGTMSE is a financial initiative in India aimed at providing collateral-free credit facilities. It doesn't apply to 
which of the following? 
 (A) Micro Enterprises 
 (B) Small Enterprises 
 (C) Medium Enterprises 
 (D) It applies to all of the above 
 
Q3. What happens when a company spends more than the stipulated amount of their net profits on CSR in any year? 
(A) The excess amount spent on CSR is refunded to the company by the government as an incentive for exceeding 
CSR obligations. 
 (B) The excess amount spent can be set off against the CSR spending obligation in future years, subject to riders. 
(C) The excess amount spent on CSR is treated as a tax-deductible expense, reducing the company's overall tax 
liability. 
 (D) None of the above 
 
Q4. Which of the following statements best describes the term "Spot Price" in financial markets? 
 (A) The price of a financial instrument for delivery in the future 
 (B) The price at which a financial instrument is sold short 
 (C) The current market price of a financial instrument for immediate delivery and settlement 
 (D) The average price of a financial instrument over a specific time period 
 
Q5. Three companies, namely Alpha Corp, Beta Inc, and Gamma Ltd, have reported their annual profits for the last 
three financial years along with their Corporate Social Responsibility (CSR) expenditures for the financial year 
2022-2023. 
 • Alpha Corp 
  • Profit for 2019-2020: -?3 crores 
  • Profit for 2020-2021: ?12 crores 
  • Profit for 2021-2022: ?11 crores 
  • CSR spending for 2021-2022: ?0.30 crores 
 • Beta Inc: 
  • Profit for 2019-2020: ?0 crores 
  • Profit for 2020-2021: ?8 crores 
  • Profit for 2021-2022: ?7 crores 
  • CSR spending for 2021-2022: ?0.18 crores 
 • Gamma Ltd: 
  • Profit for 2019-2020: ?5 crores 
  • Profit for 2020-2021: ?6 crores 
  • Profit for 2021-2022: ?5.5 crores 
 
   
2 
  • CSR spending for 2021-2022: ?0.14 crores 
 Which of the following companies have met the CSR spending target as per the Companies Act of India? 
 (A) Alpha only 
 (B) Both Alpha and Beta 
 (C) All Alpha, Beta and Gamma 
 (D) None of the above 
 
Q6. Which of the following statements is incorrect regarding various financial institutions and instruments in India? 
(A) NBF-MFI stands for Non-Banking FinancialMicro Finance Institution and they are not allowed to accept public 
deposits. 
 (B) Mortgage Guarantee is an instrument where the guarantee is provided for a loan against residential property. 
 (C) IFC, or International Finance Corporation, is a subsidiary of the Reserve Bank of India (RBI). 
(D) NBFCs (Non-Banking Financial Companies) primarily engage in lending and investment activities, but cannot 
accept demand deposits. 
 
Q7. Universal banks in India were recommended by which of the following committees? 
 (A) Narasimham Committee 
 (B) Raghuram Rajan Committee 
 (C) Nachiket Mor Committee 
 (D) S.S. Tarapore Committee 
 
Q8. In which stage of the economic cycle do prices typically remain low due to the balance of money supply and 
demand? 
 (A) Expansion 
 (B) Peak 
 (C) Contraction 
 (D) Trough 
 
Q9. Which of the following formulas correctly represents how to calculate Net Domestic Product (NDP) at Factor Cost? 
 (A) NDP at Market Price - Indirect Taxes + Subsidies 
 (B) NDP at Market Price + Indirect Taxes Subsidies 
 (C) NDP at Market Price - Indirect Taxes Subsidies 
 (D) NDP at Market Price + Indirect Taxes + Subsidies 
 
Q10. What term is used to describe the grants in aid specifically given for the creation of capital assets? 
 (A) Fiscal Deficit 
 (B) Effective Revenue Deficit 
 (C) Primary Deficit 
 (D) Revenue Deficit 
 
Q11. Match the following credit ratings with their corresponding descriptions: 
1. AAA (A) Denotes adequate safety in terms of timely payment of interest and principal 
2. A (B) Double A denotes high safety in terms of timely payment of interest and principal 
3. BBB (C) Denotes substantial risk 
4. C (D) Triple B denotes moderate safety in terms of payment of interest and speculative 
grades 
 (A) 1-A, 2-B, 3-D, 4-C 
 (B) 1-B, 2-A, 3-D, 4-C 
 
   
3 
 (C) 1-B, 2-A, 3-C, 4-D 
 (D) 1-D, 2-B, 3-A, 4-C 
 
Q12. Choose the correct statement regarding call and put options: 
 (A) A call option gives the holder the obligation to sell a stock at a specific price. 
 (B) A put option gives the holder the obligation to buy a stock at a specific price. 
 (C) A call option gives the holder the right to buy a stock at a specific price. 
 (D) A put option gives the holder the right to sell a stock at a specific price. 
 
Q13. Match the following types of mutual funds with their corresponding characteristics: 
Types of Mutual Funds Characteristics: 
1. Index Fund (A) An open-ended scheme replicating/tracking index – Minimum investment in 
securities of a particular index (which is being replicated/tracked) - 95% of 
total assets 
2. Funds of Fund (B) open-ended fund of fund scheme investing in fund (mention the underlying 
fund) - Minimum investment in the underlying fund - 95% of total assets 
3. ELSS (C) Provides liquidity solutions with low maturity and high credit quality 
4. Liquidity Fund (D) Equity-Linked saving Scheme - Provides tax benefits under section 80C 
 (A) 1-B, 2-A, 3-D, 4-C 
 (B) 1-A, 2-B, 3-D, 4-C 
 (C) 1-A, 2-B, 3-C, 4-D 
 (D) 1-D, 2-C, 3-A, 4-B 
 
Q14. Calculate the Insurance Density based on the following data: 
 • Gross Domestic Product (GDP): ?500 trillion 
 • Gross Value Added (GVA): ?400 trillion 
 • Total Population: 100 million 
 • Total Insurance Premium: ?2 trillion 
 (A) ?20,000 
 (B) ? 15,000 
 (C) ?10,000 
 (D) ?25,000 
 
Q15. The Government of India has envisioned achieving "Insurance for All by 2047" to commemorate 100 years of 
Independence. Which of the following objectives is least likely to be part of this insurance vision? 
 (A) Increasing the penetration of life and nonlife insurance across the rural and urban populace. 
 (B) Promoting innovative insurance products tailored to the specific needs of diverse demographic segments. 
 (C) Achieving a minimum insurance density comparable to global standards. 
 (D) Deregulating the insurance sector to allow for 100% foreign direct investment (FDI) without any conditions. 
 
Q16. The ________ acts as a Self-Regulatory Organisation (SRO) in the mutual fund industry. 
 (A) IRDAI 
 (B) RBI 
 (C) SEBI 
 (D) AMFI 
 
Q17. Under the Prime Minister Suraksha Bima Yojana (PMSBY), what is the risk coverage amount provided for 
accidental death or full disability due to an accident? 
 
   
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 (A) ?1 lakh 
 (B) ?5 lakh 
 (C) ?2 lakh 
 (D) ?10 lakh 
 
Q18. What is the life cover amount provided under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)? 
 (A) ?1 lakh 
 (B) ?3 lakh 
 (C) ?2 lakh 
 (D) ?5 lakh 
 
Q19. Which organization is responsible for regulating the Atal Pension Yojana (APY)? 
 (A) Reserve Bank of India (RBI) 
 (B) Pension Fund Regulatory and Development Authority (PFRDA) 
 (C) Insurance Regulatory and Development Authority of India (IRDAI) 
 (D) Securities and Exchange Board of India (SEBI) 
 
Q20. Under the Employees' Provident Fund (EPF), ________ % of the contribution goes to the EPF account, while 
________% goes to the Employees' Pension Scheme (EPS). 
 (A) 3.67,8.33 
 (B) 4.75,9.49 
 (C) 2.21,7.09 
 (D) 5.12,10.21 
 
Q21. Treasury bills in India generally do not come under which of the following maturity periods? 
 (A) 91 days 
 (B) 182 days 
 (C) 273 days 
 (D) 364 days 
 
Q22. Which of the following Sustainable Development Goals (SDGs) is specifically focused on taking action to combat 
climate change and its impacts? 
 (A) SDG 3: Good Health and Well-being 
 (B) SDG 7: Affordable and Clean Energy 
 (C) SDG 13: Climate Action 
 (D) SDG 16: Peace, Justice and Strong Institutions 
 
Q23. As of the latest guidelines, what is the maximum percentage of Foreign Direct Investment (FDI) permitted in the 
insurance sector in India? 
 (A) 49% 
 (B) 51% 
 (C) 74% 
 (D) 100% 
 
Q24. What is the name of the Reserve Bank of India's Centralized Database portal for financial transactions? 
 (A) BHIM 
 (B) e-Rupi 
 (C) e-Kuber 
 
   
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 (D) UPI 
 
Q25. As per regulations, up to what percentage of their net owned funds (NOF) as at end-March of the previous financial 
year are Primary Dealers allowed to borrow, on average, in a reporting fortnight? 
 (A) 150% 
 (B) 225% 
 (C) 300% 
 (D) 100% 
 
Q26. In India, a commercial paper is issued for investments in multiples of what amount? 
 (A) ?1 lakh 
 (B) ?2 lakh 
 (C) ?5 lakh 
 (D) ?10 lakh 
 
Q27. How many local boards does the Reserve Bank of India (RBI) have? 
 (A) 2 
 (B) 4 
 (C) 6 
 (D) 8 
 
Q28. In the context of the Reserve Bank of India's policy rates, what is referred to as the LAF (Liquidity Adjustment 
Facility) corridor? 
 (A) The difference between the Marginal Standing Facility (MSF) rate and the repo rate 
 (B) The difference between the repo rate and the reverse repo rate 
 (C) The difference between the bank rate and the reverse repo rate 
 (D) The difference between the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR) 
 
Q29. What is the primary purpose of the FX Retail platform in India? 
 (A) To facilitate retail trading in government securities 
 (B) To provide a platform for retail participation in the foreign exchange market 
 (C) To enable retail investors to invest in mutual funds 
 (D) To facilitate retail trading in commodities 
 
Q30. What is the revised maximum limit on microfinance loans for NBFCs (other than NBFC-MFIs) as a percentage of 
their total assets? 
 (A) 10% 
 (B) 25% 
 (C) 50% 
 (D) 75% 
 
Q31. Which of the following factors contributes to the Bank rate becoming irrelevant in India? 
 (A) RBI changing rates frequently 
 (B) Underdeveloped bill market in India 
 (C) Interest rates not being automatically changed by the Bank rate 
 (D) None of the above 
 
Q32. Which of the following is the correct formula to compute Personal Income?