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B Com Exam  >  B Com Tests  >  Test: Introduction to Indian Financial System - 2 - B Com MCQ

Test: Introduction to Indian Financial System - 2 - B Com MCQ


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10 Questions MCQ Test - Test: Introduction to Indian Financial System - 2

Test: Introduction to Indian Financial System - 2 for B Com 2024 is part of B Com preparation. The Test: Introduction to Indian Financial System - 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Introduction to Indian Financial System - 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Introduction to Indian Financial System - 2 below.
Solutions of Test: Introduction to Indian Financial System - 2 questions in English are available as part of our course for B Com & Test: Introduction to Indian Financial System - 2 solutions in Hindi for B Com course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Introduction to Indian Financial System - 2 | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study for B Com Exam | Download free PDF with solutions
Test: Introduction to Indian Financial System - 2 - Question 1
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What is the primary function of the financial system?

Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 1
The primary function of the financial system is to allocate and mobilize savings. It facilitates the flow of funds from savers to investors, which helps in the creation of wealth and economic development.
Test: Introduction to Indian Financial System - 2 - Question 2
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Which financial institution collects money from individuals and invests it in financial assets?

Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 2
A mutual fund company is a financial institution that collects money from individuals and invests it in financial assets such as stocks, bonds, and other securities. It provides individuals with the opportunity to invest in a diversified portfolio managed by professionals.
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Test: Introduction to Indian Financial System - 2 - Question 3
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What is the role of financial markets?

Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 3
Financial markets facilitate the trading of assets such as stocks, bonds, currencies, and other financial instruments. They provide a platform for buyers and sellers to participate in transactions and ensure liquidity and efficiency in the financial system.
Test: Introduction to Indian Financial System - 2 - Question 4
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Which regulatory body is responsible for regulating the securities market in India?
Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 4
The Securities and Exchange Board of India (SEBI) is the regulatory body responsible for regulating the securities market in India. It ensures fair practices, investor protection, and the development of the securities market.
Test: Introduction to Indian Financial System - 2 - Question 5
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What is the purpose of the Insurance Regulatory and Development Authority (IRDA) in India?
Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 5
The Insurance Regulatory and Development Authority (IRDA) is responsible for regulating the insurance industry in India. It aims to protect the interests of policyholders, ensure the orderly growth of the industry, and promote fair practices.
Test: Introduction to Indian Financial System - 2 - Question 6
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Which financial service helps in the allocation of risk?
Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 6
Insurance is a financial service that helps in the allocation of risk. It provides individuals and businesses with protection against various risks such as accidents, health-related issues, and property damage.
Test: Introduction to Indian Financial System - 2 - Question 7
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What is the function of financial intermediaries in the Indian financial system?
Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 7
Financial intermediaries in the Indian financial system, such as commercial banks, collect money deposits from the public and use that money to advance loans to individuals and corporate customers. They play a crucial role in mobilizing and allocating funds.
Test: Introduction to Indian Financial System - 2 - Question 8
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What is the role of the Reserve Bank of India (RBI) in the financial system?
Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 8
The Reserve Bank of India (RBI) is the central bank of India and acts as the apex monetary authority. It regulates the banking system, formulates monetary policies, and ensures the stability of the financial system.
Test: Introduction to Indian Financial System - 2 - Question 9
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What is the main objective of the Forward Markets Commission (FMC) in India?
Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 9
The main objective of the Forward Markets Commission (FMC) in India is to regulate commodity trading. It oversees commodity exchanges and ensures fair practices and transparency in the trading of commodities.
Test: Introduction to Indian Financial System - 2 - Question 10
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How does the financial system contribute to economic development?
Detailed Solution for Test: Introduction to Indian Financial System - 2 - Question 10
The financial system contributes to economic development by linking savings with investments. It channels the savings of individuals into productive investments, which helps in wealth creation, job creation, and overall economic growth.
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