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1.  
About LIC, which is/are correct?
I. It was formed on 1 September 1956.
II. 245 insurers and provident societies were taken over at its formation.
III. Its initial capital from the Government was ₹ 100 crore.

Correct Answer: E [Only I and II]

Explanation:

I and II true; capital ₹ 5 crore.

2.  
About general insurance, which is/are correct?
I. General insurance was nationalised by the GIBNA, 1972.
II. GIC was re-notified as the Indian Reinsurer in November 2000.
III. GIC still holds the four public sector general insurers as subsidiaries.

Correct Answer: A [Only I and II]

Explanation:

I and II true; since 21 March 2003 GIC is no longer their holding company.

3.  
About BSE, which is/are correct?
I. It began in 1875 as the Native Share & Stock Broker's Association.
II. It introduced BOLT on 14 March 1995.
III. It became India's first listed stock exchange in 2007.

Correct Answer: E [Only I and II]

Explanation:

I and II true; it listed on 3 February 2017.

4.  
About NSE, which is/are correct?
I. It was incorporated in 1992 and recognised as a stock exchange in April 1993.
II. It launched the Nifty 50 in 1995-96.
III. It was the first exchange in India to offer currency futures.

Correct Answer: C [All of I, II and III]

Explanation:

All three are correct (NSE history page).

5.  
About mutual funds, which is/are correct?
I. The AMC is appointed by the trustees with SEBI approval.
II. An open-ended scheme has a fixed unit capital.
III. SEBI's investor material lists five broad scheme groups.

Correct Answer: B [Only I and III]

Explanation:

I and III true; open-ended unit capital is not fixed.

6.  
About the riskometer, which is/are correct?
I. It has six levels from Low to Very High.
II. 'Moderately High' is one of its levels.
III. It is optional for AMCs.

Correct Answer: D [Only I and II]

Explanation:

I and II true; AMCs must display it.

7.  
A scheme has assets of ₹ 120 crore, liabilities of ₹ 5 crore and 5 crore units. Which is/are correct?
I. NAV is ₹ 23.
II. ₹ 46,000 buys 2,000 units.
III. If NAV rises to ₹ 25, 2,000 units are worth ₹ 46,000.

Correct Answer: B [Only I and II]

Explanation:

NAV (120 − 5) ÷ 5 = 23; 46,000 ÷ 23 = 2,000; at ₹ 25 the value is ₹ 50,000.

8.  
About primary market terms, which is/are correct?
I. In a bonus issue the company receives fresh money.
II. In an OFS the money goes to the selling shareholders.
III. Under ASBA the amount is blocked until allotment.

Correct Answer: A [Only II and III]

Explanation:

II and III true; bonus brings no money.

9.  
Match the institution with its year:
(i) Oriental Life (ii) Bombay Mutual (iii) NSE incorporated (iv) CDSL
(p) 1992 (q) 1999 (r) 1870 (s) 1818

Correct Answer: C [i-s, ii-r, iii-p, iv-q]

Explanation:

1818; 1870; 1992; 1999.

10.  
About investor protection, which is/are correct?
I. SCORES was launched on 8 June 2011.
II. KYC in the securities market is done once and kept by KYC Registration Agencies.
III. Insurance complaints are filed on SCORES.

Correct Answer: E [Only I and II]

Explanation:

I and II true; insurance complaints go to the insurer and IRDAI.

11.  
About the 2025 insurance amendment, which is/are correct?
I. Its short title is the Sabka Bima, Sabki Raksha (Amendment of Insurance Laws) Act, 2025.
II. It allows 100% FDI in Indian insurance companies.
III. It repealed the LIC Act, 1956.

Correct Answer: D [Only I and II]

Explanation:

I and II true; it amended (not repealed) the LIC Act.

12.  
A godown insured with Insurer X for ₹ 8 lakh and Insurer Y for ₹ 4 lakh suffers a fire loss of ₹ 9 lakh. Under contribution in proportion to sums insured, which is/are correct?
I. X pays ₹ 6 lakh.
II. Y pays ₹ 3 lakh.
III. The owner receives ₹ 12 lakh in all.

Correct Answer: D [Only I and II]

Explanation:

Ratio 8 : 4 = 2 : 1 of ₹ 9 lakh → 6 + 3 = 9 lakh; indemnity means no more than the loss.

13.  
About market infrastructure, which is/are correct?
I. NSDL and CDSL are regulated under the Depositories Act, 1996.
II. BSE launched commodity derivatives on 1 October 2018.
III. NSE began listing ETFs in 2010-11.

Correct Answer: A [Only I and II]

Explanation:

I and II true; ETF listings began in 2001-02.

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