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May 08, 2013

Expected General Knowledge Questions for LIC AAO Exam - Set 1

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Friends, we have already provided enough study materials of current affairs for upcoming LIC AAO Exam. Now we have decided to concentrate on General Knowledge (GK) section. Here are some GK MCQs which we picked from  previous years' Insurance Exam papers. We hope these will help you in your preparation. All the best and Happy Reading :)

Which of the following is / are the various types of insurance?
(1) Life Insurance
(2) Health Insurance
(3) Liability Insurance
(A) Only (1)
(B) Only (2)
(C) Only (3)
(D) All (1), (2) and (3)
(E) Only (1) and (2)

lic gk

Many times we here about SEZ in newspapers/magazines. What is the full form of SEZ?
(A) Small Economic Zone
(B) Social Economic Zone
(C) Special Enforcewment Zone
(D) Service & Economic Zone
(E) Special Economic Zone

The Govt. of India has fixed some targets for various programmes for the entire plan period/or a part of it. Which of the following is/are TRUE about the Bharat Nirman Programme?
(1) The plan envisages irrigation of 10 million hectares additional land.
(2) It is planned that about six hundred km. of new roads will be developed every month.
(3) About 1000 new telephone connections will be given to rural areas every month so that by the end of the plan all villages in India are brought under telephone services network.
(A) Only (1) is true
(B) Only (2) is true
(C) Only (3) is true
(D) All (1), (2) & (3) are true
(E) None is true

Which of the following is true about the National Rural Employment Guarantee Act?
(1) It is applicable only in 100 rural districts.
(2) It gives a guaranteed employment of 150 days to all those who are eligible for the same and are also willing to take it.
(3) This Act is applicable only for men between the age of 21-65. Women do not get the benefit of the same.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1 , 2 & 3
(E) None of these

As per newspaper reports the inflation in India and China was at very high level . In such a situation the central Banks of these countries are required to follow—
(A) a more liberal credit policy
(B) a very tight credit policy
(C) create an atmosphere of easy liquidity in the market.
(D) raise the limits of personal and corporate income taxes.
(E) None of these

The US Federal Reserve had recently reduced the interest rates by 150 basis points in the last few months. This was done because—
(A) US was going into recession.
(B) Inflation was high in countries like India and China hence a correction in economic policies by all the countries was needed.
(C) Euro had become more attractive currency, hence US wanted to save dollars from further depreciation.
(D) Iraq had bacome a very lucrative destination for foreign investment . US does not want it to happen.
(E) None of these

The Stock market index of London Stock Market is referred as—
(A) Sensex
(B) Footsie (FTSE)
(D) Bullish
(E) None of these

As per the newspaper reports some economically developed states onlt hold about 60% of the total 'Demat Accounts in India. A Demat Account is—
(A) an acount which is opened by the people of the lower income groups of the society.
(B) an account in which trading of the shares is done.
(C) an account which can be opened only by minors.
(D) an account which can be operated by big corporate houses and are mainly business accounts like current accounts.
(E) None of these

As we all know Ministry of Finance every year prepare Union Budget and present it to the parliament . Which of the following is / are the elements of the Union Budget ?
(1) Estimates of revenue and capital receipts.
(2) Ways and MeAns : to raise the revenue.
(3) Estimates of expenditure.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 & 3
(E) None of these

Which of the following is used as raw material for production of nuclear power?
(A) Uranium
(B) Barylium
(C) Zirconium
(D) Sodium
(E) All these are used

The foreign trade policy announced in the year 2004 was announced for a period of—
(A) two years
(B) three years
(C) four years
(D) five years
(E) ten years

As per reports in the newspapers the Indian Rupee is appreciating these days. What does it really mean it ?
(1) The value of the Rupee has gone up. It is now 110 paise and not 100 paise.
(2) The exchange rate of Rupee has gone up.
(3) Now we can purchase more in one Rupee which was not possible earlier.
(A) Only 1
(B) Only 2
(C) Only 3
(D) Both 1 & 2
(E) None of these

Sri Lankan Monitoring Mission (SLMM) has Nordic Monitors from five nations. Which of the following is NOT one of them?
(A) India
(B) Sweden
(C) Norway
(D) Denmark
(E) Iceland

Many a times we read a term in financial newspaper GDR. What is the full form of the same?
(A) Gross Domestic Revenue
(B) Global Domestic Ratio
(C) Global Depository Receipts
(D) Gross Depository Revenue
(E) None of these

Very often we read in newspapers that some sports persons have to go for a Dope Test after their performance in the field. Why Dope Test is conducted ?
(1) To know the general health of the sports person
(2) To know the sugar level of their blood
(3) To detect whether they have taken any performance inhancing drugs
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 & 3
(E) None of these

Which of the following phenomenon occurred /surfaced recently associated with the economy of USA has put a catastrophic influence on the economy of the World?
(A) Increase in the oil prices
(B) High level of inflation
(C) Huge and mounting expenditure due to attack on Iraq by USA and allied forces.
(D) Sub-prime Crisis
(E) None of these

The Reserve Bank of India keeps on changing various ratio/rates frequently. Why this is done?
(1) To keep inflation under control.
(2) To ensure that Indian Rupee does not loose its market value.
(3) To ensure that Banks do not earn huge profits at the cost of public money.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 & 3
(E) None of these

Santosh Trophy is associated with which of the following game ?
(A) Cricket
(B) Badminton
(C) Tennis
(D) Chess
(E) Foot Ball

Which of the following organization is known as Market Regulator in India?
(E) None of these

Federal Reserve is the Financial Organization of the—
(B) Britain
(C) France
(D) Japan
(E) Germany

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