1. The number of digits in MMID is which among the following?

A. 6 B. 7 C. 9 D. 10 E. 11

2. Which of the following is true?

A. Headline inflation = core inflation- food and fuel inflation B. Core inflation= headline inflation- food inflation C. Core inflation = headline inflation- food and fuel inflation D. Headline inflation=core inflation- food inflation E. None of the above

3. It is a tax on the personal income of the individuals, Hindu Undivided Families (HUFs), partnership firms, etc.

A. Income tax (Personal Income tax) B. Customs Duties C. Goods and Services tax D. Union Excise Duties E. All of these

4. A/an __________operates until the completion of a transaction process, which is implemented after all the conditions between the buyer and the seller are settled.

A. NRO B. NRE C. Escrow D. Nostro E. None of these

5. Stamp duty is collected by the states and it can be classified into how many categories?

A. Two B. Three C. Four D. Five E. More than five

Answers and Explanations
1. Answer - Option B
Explanation -
Mobile Money Identifier has 7 digits in it and it is used for customers to transfer funds from one account to another. It should be combined with the mobile number in order to facilitate fund transfer and that is where the security aspect of the transaction lies. Different MMIDs may have been linked with the same mobile number
2. Answer - Option C
Explanation -
Core inflation = headline inflation- food and fuel inflation Core CPI weightage = 42.9% Core WPI weightage =55%
3. Answer - Option A
Explanation -
Income tax (Personal Income tax) is a tax on the personal income of the individuals, Hindu Undivided Families(HUFs), partnership firms, etc. Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India. Customs Duty is a tax imposed on imports and exports of goods. Union excise duty is a type of indirect tax on goods manufactured in India.
4. Answer - Option C
Explanation -
Escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction. The funds or assets are held by the escrow agent until it receives the appropriate instructions or until predetermined contractual obligations have been fulfilled. Money, securities, funds, and other assets can all be held in escrow. NRE-Non Resident External account NRO-Non Resident Ordinary account BSBDA-Basic Savings Bank Deposit Account
5. Answer - Option A
Explanation -
Stamp Duty is collected by the state governments as it comes under the state list in the constitution and the fees collected may be divided into two broad categories and they are – duty collected under the provision of Indian Stamps Act 1899 and Court Fees.

1. The maximum transaction limit of United Payment Interface is-

A. Rs 1 lakh B. Rs 3 lakh C. Rs 5 lakh D. Rs 7 lakh E. Other than those given in options

2. PF tax-exempt on completion of ________ years of continuous service to an employer.

A. 7 B. 6 C. 5 D. 4 E. 9

3. The financial market for selling long term debts and equity backed securities is known as which among the following?

A. Bullion market B. Capital market C. Corporate Debt market D. Financial market E. Other than those given in options

4. Which among the following tracks an index but can be traded on the stock exchanges like any other common stock?

A. Reserve Fund B. Foreign Exchange Fund C. Exchange Traded Fund D. Trading Fund E. Hedge Fund

5. The Capital to Risk Weighted assets ratio of IFC is which among the following?

A. 20 percent B. 15 percent C. 25 percent D. 30 percent E. Other than those given in options

Answers and Explanations
1. Answer - Option A
Explanation -
United Payment Interface network is used by customers to transfer money from his account to any other account. It is conceptualized by NPCI and the maximum limit of transaction is Rs 1 lakh in this interface.
2. Answer - Option C
Explanation -
As per Fourth Schedule of the Income-tax Act, the accumulated PF balance due and payable to an employee is exempt from tax, if the employee has rendered continuous service with his employer for a period of 5 years or more.
3. Answer - Option B
Explanation -
Capital Market is that platform in our country where all the securities and debt instruments are traded by buyers and sellers. This is regulated in India by Securities and Exchange Board of India.
4. Answer - Option C
Explanation -
ETF is like a stock that can be traded on the stock exchanges like a common and normal stock but it actually tracks an index, a commodity or a basket of assets etc. Unlike mutual funds, these are marketable securities that can act as normal stocks in the stock market.
5. Answer - Option B
Explanation -
IFC is a non-banking finance company operating in India and the capital to risk weighted assets ratio of the company is 15 percent as of now. This ratio refers to the fact that a company is running well or not since it gives the percentage of capital and the assets in the company.

1. In context of credit rating, which of the following statements is/ are true?

A. Credit rating is an assessment of the probability of default on payment of interest and principal on a debt instrument B. In India, the issuer company pays for the credit rating. C. SEBI does not play any role in the assessment made by the rating agency D. Only (a) & (b) E. All of the above

2. ICICI Securities Ltd has announced the launch of _______services, which instantly credits into a retail investor’s bank account funds accrued from stock sales.

A. eInvest B. eStock C. eSecure D. eATM E. ePhase

3. Who among the following is present chairman of Trade body Association of Mutual Funds in India?

A. Kailash Kulkarni B. Nimesh Shah C. Praful Patel D. Dhruv Mehta E. Ajay Tyagi

4. What is the contract cycle for T-Bill Futures?

A. It consists of Four serial monthly contracts followed by three quarterly contracts expiring in March, June, September and December. B. It consists of Five serial monthly contracts followed by Four quarterly contracts expiring in March, June, September and December. C. It consists of three serial monthly contracts followed by three quarterly contracts expiring in March, June, September and December. D. It consists of three serial monthly contracts followed by three quarterly contracts expiring in March, June and September. E. None of the above

5. ___________is a measure of the return of the bond.

A. Yield to maturity B. Venture Capital Fund C. Funding Volatility Ratio D. Market Liability Ratio E. Basis Point

Answers and Explanations
1. Answer - Option E
Explanation -
All of the above statements are true.
A credit rating agency is an entity which assesses the ability and willingness of the issuer company for timely payment of interest and principal on a debt instrument.
Rating is denoted by a simple alphanumeric symbol, for e.g. AA+, A-, etc.
2. Answer - Option D
Explanation -
ICICI Securities Ltd has announced the launch of eATM services, which instantly credits into a retail investor’s bank account funds accrued from stock sales.
The money would be credited within 30 minutes with a limit of ₹ 50,000 per client per day.
Under the current settlement system, an investor gets money into their accounts after two days (T+2) after a transaction. The feature is open to all trades in cash segment on nearly 600 stocks traded on the BSE.
3. Answer - Option B
Explanation -
Nimesh Shah is the current chairperson of Association of Mutual Funds in India. He is the MD and CEO of ICICI Prudential Asset Management Company. Kailash Kulkarni is the vice chairperson of AMFI. As per AMFI data, the Indian mutual fund industry manages nearly 21 lakh Crore of assets (Average AUM July-Sept 2018).AUM stands for Assets Under Management.
4. Answer - Option C
Explanation -
The ‘Contract Cycle’ consists of three serial monthly contracts followed by three quarterly contracts expiring in March, June, September and December.
The maximum maturity for T-Bill Futures Contracts is for 12 months.
5. Answer - Option A
Explanation -
Yield to maturity (YTM) is a measure of the return of the bond.
The Yield to maturity (YTM) is the yield promised to the bondholder on the assumption that the bond will be held to maturity and coupon payments will be reinvested at the YTM.