Important Questions (IRDAI and BIS)

IRDA

Q1. IRDAI stands for:
a) Insurance Regulatory and Development Authority of India
b) Investment Regulatory and Development Authority of India
c) Insurance Reforms and Development Authority of India
d) None of The Above

Q2. Headquarter of IRDAI is located at:
a) Hyderabad
b) New Delhi
c) Mumbai
d) None of The Above

Q3. IRDAI is an autonomous body set up under the _______:
a) IRDA Act, 1999
b) IRDA Act, 2000
c) IRDA Act, 1995
d) None of The Above

Q4. Which among the following is correct about IRDA's mission:
a) To protect the interest of policy holders
b) To regulate and develop the insurance industry
c) Both of Above
d) None of The Above

Q5. Chairman of IRDAI is:
a) Ujwal Bir Singh
b) Rakesh Sethi
c) T.S. Vijayan
d) None of The Above

Q6. Initially, head office of IRDAI was at:
a) Delhi
b) Mumbai
c) Gujarat
d) None of The Above

Q7. Head office of IRDAI was transferred from Delhi to Hyderabad in ______:
a) 2002
b) 2004
c) 2001
d) None of The Above

Q8. Now the FDI limit in insurance sector is______:
a) 47%
b) 49%
c) 50%
d) None of The Above

Q9. Who announced the term insurance repository system in India:
a) Prime Minister
b) Finance Minister
c) T.S. Vijayan
d) None of The Above

Q10. Insurance Repository is:
a) It is a facility to help policy holders.
b) It provides the facility, buy and keep insurance policies in electronic form rather than as a paper document
c) Insurance repositories like share depositories or mutual fund transfer agencies will hold electronic records of insurance policies issued to individuals and such policies are called "electronic policies" or "e - policies"
d) All of The Above
e) None of The Above

Q11. In 1818, _________company was established:
a) Oriental Life Insurance Company
b) Britain Insurance Company
c) Standard Insurance Company Limited
d) None of The Above

Q12. Oriental Life Insurance company was established at:
a) Delhi
b) Lahore
c) Calcutta
d) None of The Above

Q13. An Ordinance was issued on ________nationalizing the Life insurance
sector:
a) 19 July, 1956
b) 19 January, 1956
c) 2 October, 1956
d) None of The Above

Q14. Life Insurance Corporation (LIC) was came into existence in_______:
a) 1955
b) 1956
c) 1957
d) None of The Above

Q15. Which among the following is correct about LIC's absorption:
a) 154 Indian insurers
b) 16 non - Indian Insurers and 75 provident societies
c) 245 Indian and foreign insurers in all
d) All of The Above
e) None of The Above

BIS

Q1. BIS stands for:
a) Bank Information Settlements
b) Bank for International Standardization
c) Bank for International Settlements
d) None of The Above

Q2. Head office of BIS is situated at:
a) Geneva, Switzerland
b) Basel, Switzerland
c) Amsterdam, Netherlands
d) None of The Above
( Point to be Remember - Geographical name of Netherlands is Holland Like India is Bharat)

Q3. The Two representative offices of BIS are situated at:
a) Hong Kong and Mexico City
b) New Delhi and Islamabad
c) Washington D.C. and Nairobi
d) None of The Above

Q4. Which among the following is mission of BIS:
a) fostering discussion and facilitating collaboration among central banks
b) supporting dialogue with other authorities that are responsible for promoting financial stability
c) carrying out research and policy analysis on issues of relevance for monetary and financial stability
d) acting as a prime counter party for central banks in their financial transactions
e) Serving as an agent or trustee in connection with international financial operations
f) All of the Above
g) None of The Above

Q5. Actually BIS was established on:
a) 17 May, 1930
b) 17 May, 1931
c) 17 May, 1932
d) None of The Above

Q6. The number of central banks which are member of BIS are ______:
a) 70
b) 60
c) 80
d) None of The Above

Q7. Which among the following is not the member of BIS:
a) Sri Lanka
b) Pakistan
c) Nepal
d) Bangladesh
e) All of The Above
f) None of The Above

Q8. BIS was established due to:
a) The Bretton Woods Conference of 1930
b) The Hague Agreements of 1930
c) Both of The Above
d) None of The Above

Q9. SDR stands for:
a) Specific Draft Rights
b) Special Deposits Rights
c) Special Drawing Rights
d) None of The Above

Q10. Since ______, the BIS has published its accounts in terms of special drawing
rights (SDRs):
a) 2005
b) 2004
c) 2006
d) None of The Above

Q11. ______is known as bank for central banks:
a) BIS
b) World Bank
c) IMF
d) None of The Above

Q12. Which among the following is correct about BIS:
a) BIS does not provide financial services to Individuals
b) BIS does not provide financial services to Corporations
c) BIS was created to administer the transaction of monies according to the Treaty of Versailles
d) All of The Above
e) None of The Above

Q13. General Manager of BIS is:
a) Christine Medeleine Odette Lagarde
b) Jaime Caruana
c) Jim Yong Kim
d) None of The Above

Q14. In _______the Basel Committee on Banking Supervision proposed a new
capital adequacy framework to replace the current Basel Accord:
a) June, 1999
b) June, 2000
c) June, 2001
d) None of The Above

Q15. After replacing the current Basel Accord in June 1999 which was the new
pillar for proposed framework:
a) Minimum Capital Requirements
b) Supervisory Review
c) Market Discipline
d) All of The Above
e) None of The Above