LIC HFL Apprentice General/Financial Awareness Questions and Answers

If you have applied for this application form online and are waiting for the exam, this is good news. As you all know, the exam will be held online on 7th November in CBT Mode. To crack this exam, you need to know about the official syllabus and exam pattern.

As per the official notification, there are 4 sections in this exam: General Awareness, Financial Awareness, General English, Reasoning, and Quantitative Aptitude. Each section contains 25 questions and is worth 25 marks. You have to solve these questions in 60 minutes.

LIC HFL Apprentice Financial Awareness

1. Which institution regulates the insurance sector in India?
भारत में बीमा क्षेत्र को कौन-सी संस्था नियंत्रित करती है?
(A) RBI
(B) SEBI
(C) IRDAI
(D) NABARD
Answer: (C) IRDAI

2. What is the full form of LIC?
LIC का पूरा नाम क्या है?
(A) Life Insurance Corporation
(B) Life Investment Company
(C) Limited Insurance Corporation
(D) Life Income Corporation
Answer: (A) Life Insurance Corporation

3. Which institution regulates housing finance companies in India?
भारत में हाउसिंग फाइनेंस कंपनियों को कौन नियंत्रित करता है?
(A) RBI
(B) SEBI
(C) IRDAI
(D) PFRDA
Answer: (A) RBI

4. What is the full form of EMI?
EMI का पूरा नाम क्या है?
(A) Equal Monthly Investment
(B) Equated Monthly Instalment
(C) Estimated Monthly Income
(D) Easy Money Instalment
Answer: (B) Equated Monthly Instalment

5. Which bank is known as the Central Bank of India?
भारत का केंद्रीय बैंक कौन-सा है?
(A) SBI
(B) PNB
(C) RBI
(D) Bank of Baroda
Answer: (C) RBI

6. What is the primary objective of monetary policy?
मौद्रिक नीति का मुख्य उद्देश्य क्या है?
(A) Controlling inflation and maintaining price stability
(B) Increasing exports only
(C) Collecting taxes
(D) Promoting tourism
Answer: (A) Controlling inflation and maintaining price stability

7. What is the full form of CRR?
CRR का पूरा नाम क्या है?
(A) Cash Reserve Ratio
(B) Credit Reserve Rate
(C) Cash Revenue Ratio
(D) Capital Reserve Ratio
Answer: (A) Cash Reserve Ratio

8. Which organisation operates the UPI payment system in India?
भारत में UPI भुगतान प्रणाली का संचालन कौन करता है?
(A) RBI
(B) NPCI
(C) SEBI
(D) NABARD
Answer: (B) NPCI

9. What is the full form of NEFT?
NEFT का पूरा नाम क्या है?
(A) National Electronic Funds Transfer
(B) National Exchange Fund Transfer
(C) New Electronic Finance Transaction
(D) National Easy Fund Transaction
Answer: (A) National Electronic Funds Transfer

10. Which organisation regulates the securities market in India?
भारत में प्रतिभूति बाजार को कौन नियंत्रित करता है?
(A) RBI
(B) SEBI
(C) IRDAI
(D) SIDBI
Answer: (B) SEBI
11. What is the main function of NABARD?

NABARD का मुख्य कार्य क्या है?
(A) Financing agriculture and rural development
(B) Regulating stock markets
(C) Issuing currency notes
(D) Managing insurance companies
Answer: (A) Financing agriculture and rural development

12. What does NPA stand for in banking?
बैंकिंग में NPA का क्या अर्थ है?
(A) Non-Performing Asset
(B) National Payment Account
(C) Net Profit Amount
(D) New Pension Account
Answer: (A) Non-Performing Asset

13. Which institution issues currency notes in India, except the ₹1 note?
भारत में ₹1 के नोट को छोड़कर अन्य करेंसी नोट कौन जारी करता है?
(A) Ministry of Finance
(B) RBI
(C) SBI
(D) SEBI
Answer: (B) RBI

14. What is the full form of KYC?
KYC का पूरा नाम क्या है?
(A) Know Your Customer
(B) Keep Your Cash
(C) Know Your Credit
(D) Keep Your Customer
Answer: (A) Know Your Customer

15. Which scheme provides social security through life insurance coverage?
कौन-सी योजना जीवन बीमा के माध्यम से सामाजिक सुरक्षा प्रदान करती है?
(A) PMJJBY
(B) PMSBY
(C) PMAY
(D) MGNREGA
Answer: (A) Pradhan Mantri Jeevan Jyoti Bima Yojana

16. What is the full form of PMAY?
PMAY का पूरा नाम क्या है?
(A) Pradhan Mantri Awas Yojana
(B) Pradhan Mantri Ayush Yojana
(C) Public Management Awas Yojana
(D) Prime Minister Annual Yojana
Answer: (A) Pradhan Mantri Awas Yojana

17. What is the full form of LTV in housing finance?
हाउसिंग फाइनेंस में LTV का पूरा नाम क्या है?
(A) Loan to Value
(B) Liability to Value
(C) Long-Term Value
(D) Loan Transfer Value
Answer: (A) Loan to Value

18. Which payment system enables immediate interbank fund transfers 24×7?
कौन-सी भुगतान प्रणाली 24×7 तत्काल इंटरबैंक फंड ट्रांसफर की सुविधा देती है?
(A) NEFT
(B) RTGS
(C) IMPS
(D) Demand Draft
Answer: (C) IMPS

19. What is the full form of CIBIL?
CIBIL का पूरा नाम क्या है?
(A) Credit Information Bureau (India) Limited
(B) Central Investment Bank of India Limited
(C) Credit Insurance Board of India Limited
(D) Central Information Bureau of India Limited
Answer: (A) Credit Information Bureau (India) Limited

20. What is the main purpose of a credit score?
क्रेडिट स्कोर का मुख्य उद्देश्य क्या है?
(A) Measuring an individual’s creditworthiness
(B) Calculating income tax
(C) Measuring bank deposits
(D) Determining insurance premiums
Answer: (A) Measuring an individual’s creditworthiness