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LIC AAO IT – Insurance Awareness

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LIC AAO IT – Insurance Awareness

shape Introduction

Scheme of Main Examination for recruitment to the post of Assistant Administrative Officers (AAOs) - IT/ Chartered Accountant/ Actuarial in LIC is as follows:
  • Main examination will consist of objective tests for 300 marks and descriptive test for 25 marks.

  • Both the objective and descriptive tests will be online.

  • The objective test will have separate timing for every section.

  • Candidates will have to answer descriptive test by typing on the computer.

  • Descriptive test will be administered immediately after the completion of the objective test.

shape Pattern

Name of the tests Number of Questions Maximum Marks Medium of Exam Minimum Qualifying Marks Duration
SC/ST Others
Reasoning Ability 30 90 English & Hindi 40 45 40 minutes
General Knowledge, Current Affairs 30 60 English & Hindi 27 30 20 minutes
Professional knowledge 30 90 English & Hindi 40 45 40 minutes
Insurance and Financial Market Awareness 30 60 English & Hindi 27 30 20 minutes
Total 120 300 2 hour
English Language (Letter writing & Essay) 2 25 English 9 10 30 minutes

  • English Language test will be of qualifying nature and the marks in English Language will not be counted for ranking.

shape Syllabus

[Click Here] for LIC AAO IT/ Chartered Accountant/ Actuarial Insurance and Financial Market Awareness Syllabus.

shape Samples

Indian Constitution
1. Who is authorised to decide over a dispute regarding disqualification of a member of parliament?
    A. Speaker of Lok Sabha B. President C. Election Commissioner D. A committee set up by the parliament

Answer: Option (B)
2. For the first time, Indian Legislature was made "Bi-cameral" under:
    A. The government of India Act, 1861 B. The government of India Act, 1892 C. The government of India Act, 1915 D. The government of India Act, 1919

Answer: Option (D)
3. The Constitution of India provides a
    A. Presidential form Govt B. Cabinet System of Government C. Parliamentary System D. Bicameral System of government

Answer: Option (B)
4. The part of the constitution that reflects the mind and ideals of the framers is
    A. directive principles B. fundamental rights C. preamble D. Citizenship

Answer: Option (C)
5. Which of the following is not a condition to become a citizen of India?
    A. Birth B. Descent C. Naturalization D. Acquiring Property

Answer: Option (D)
UNO
1. The first Secretary General of the United Nations was :
    A. Mrs. Vijai Lakshmi Pandit B. Trygve Lie C. Dag hammarskjoeld D. U. Thant

Answer: Option (B)
2. Which of the following countries is not a permanent member of the UN Security Council?
    A. USA B. UK C. France D. Spain

Answer: Option (D)
3. On what date did the U. N. O. adopt the Universal Declaration of Human Rights?
    A. 20th October 1945 B. 24th October 1945 C. 26th June 1945 D. 10th December 1948

Answer: Option (D)
4. Who coined the term United Nations?
    A. Franklin D Roosevelt B. Harry Truman C. Winston Churchill D. Joseph Stalin

Answer: Option (A)
5. What is the term of a judge of the International Court of Justice?
    A. 5 years B. 7 years C. 8 years D. 9 years

Answer: Option (D)
Marketing
1. Reorder point tells
    A. When to order B. How much to order C. When the order will reach D. All of the above

Answer: Option (A)
2. The brand choice is heavily influenced by the reference group in which stage of the Product life cycle?
    A. Introduction B. Growth C. Maturity D. Decline

Answer: Option (C)
3. The major components of the marketing mix are
    A. Product B. Price C. Place D. All of the above

Answer: Option (D)
4. ________ guides the development of advertisements and personal sales presentations.
    A. AIEA B. AIBA C. AICA D. AIDA

Answer: Option (D)
5. Adoption rate will be higher and faster if the product has
    A. Lower price B. Greater utility C. Compatibility with society D. All of the above

Answer: Option (D)
History of Banking
1. In which year, SBI was given control of 8 state associated banks under the State Bank of India (Subsidiary Banks) Act, 1959:
    A. 1965 B. 1975 C. 1960 D. None of The Above

Answer: Option (C)
2. Which among the following banks form the "Imperial Bank of India" in 1921:
    A. Bank of Bombay B. Bank of Madras C. Bank of Bengal D. All of the Above

Answer: Option (D)
3. Which among the following is correct:
    A. State Bank of India originated as the Bank of Calcutta in June 1806. B. "Bank of Calcutta" was renamed as "Bank of Bengal" C. Both of Above D. None of The Above

Answer: Option (C)
4. The Largest and Oldest Bank, still in existence is:
    A. Punjab National Bank B. Reserve Bank of India C. State Bank of India D. None of The Above

Answer: Option (C)
5. ______bank was established in 1786:
    A. General Bank B. Reserve Bank of India C. Bank of Bengal D. None of The Above

Answer: Option (A)
Countries/Currencies
1. Thailand currency is ……………………….
    A. Peso B. Dollar C. Baht D. Rupee E. None of these

Answer: Option (C)
Explanation: Thailand – Bangkok (Capital) and Baht(Currency)
2. Which of the following is the capital city of Kuwait?
    A. Tehran B. Abu Dhabi C. Kuwait City D. Jakarta E. None of these

Answer: Option (C)
Explanation: Kuwait– Kuwait City (Capital) and Dinar(Currency)
3. ……………….. is the currency of Syria
    A. Rupee B. Pound C. Peso D. Lira E. None of these

Answer: Option (B)
Explanation: Syria – Damascus (Capital) and Pound(Currency)
4. Which of the following is the currency of UAE(United Kingdom of Emirates)?
    A. Euro B. Dinar C. Dollar D. Dirham E. None of these

Answer: Option (D)
Explanation: UAE- Abu Dhabi(Capital) and Dirham(Currency)
5. Hanoi is the capital city of which of the following country?
    A. Yemen B. Vietnam C. Vatican City D. Zimbabwe E. None of these

Answer: Option (B)
Explanation: Vietnam – Hanoi(Capital) and Dong(Currency)
Indian Economy
1. Development expenditure of the Central government does not include
    A. defence expenditure B. expenditure on economic services C. expenditure on social and community services D. grant to states

Answer: Option (A)
2. The current price index (base 1960) is nearly 330. This means that
    A. all items cost 3-3 times more than what they did in 1960 B. the prices of certain selected items have gone up to 3-3 times C. weighted means of prices of the certain item has increased 3-3 times D. gold price has gone up 3-3 times

Answer: Option (C)
3. Resurgent India Bonds were issued in US dollar, Pound Sterling and
    A. Japanese Yen B. Deutsche Mark C. Euro D. French Franc

Answer: Option (B)
4. The apex body for formulating plans and coordinating research work in agriculture and allied fields is
    A. State Trading Corporation B. Regional Rural Banks C. National Bank for Agriculture and Rural Development (NABARD) D. Indian Council of Agricultural Research

Answer: Option (D)
5. If the RBI adopts an expansionist open market operations policy, this means that it will
    A. buy securities from non-government holders B. sell securities in the open market C. offer commercial banks more credit in the open market D. openly announce to the market that it intends to expand credit

Answer: Option (C)
Banking Terms
1. The first financial institution set up in India
    A. IDBI B. ICICI C. IRBI D. IFCI

Answer: Option (D)
2. The Foreign Exchange of India is kept with …………..
    A. SBI B. ECGC C. RBI D. NABARD

Answer: Option (C)
3. Balance in a current account is classified as ……….
    A. Hybrid deposit B. Term deposit C. Demand deposit D. Fixed deposit

Answer: Option (C)
4. IFSC has how many digits?
    A. 7 B. 15 C. 11 D. 9

Answer: Option (C)
5. Which one of the following is not a monetary tool of RBI?
    A. Reverse Repo Rate B. SLR C. Inter Bank Rate D. Repo Rate

Answer: Option (C)
Books & Their Authors
1. Who wrote the book “The God Father”?
    A. Agatha Christic B. V.S.Naipaul C. Ian Fleming D. Mario Puzo

Answer: Option (D)
2. Who created the character “Sancho Pancha”?
    A. Shelley B. Cervantes C. Kipling D. George Eliot

Answer: Option (B)
3. Socrates was a
    A. Essayist B. Novelist C. Dramatist D. Philosopher

Answer: Option (D)
4. Original name of “Mark Twain” is
    A. Napoleon B. Samuel Clemens C. Wellington D. Stevenson

Answer: Option (B)
5. The character “Emma” was written by
    A. Jane Austen B. Emily Bronte C. Amrita Pritam D. Emily Dickinson

Answer: Option (A)
Financial Awareness
1. How many times has financial emergency been declared in India so far?
    A. 5 times B. 4 times C. Once D. Never E. None of these

Answer: Option (D)
2. Which one of the following is not charged on the Consolidated Fund of India?
    A. Salary & allowances of the president of India B. Salary & allowances of the speaker of the Lok Sabha C. Salary & allowances of the Justices of the Supreme Court of India D. Salary & allowances of the Vice President of India E. None of these

Answer: Option (D)
3. What would be the New Price Index that would measure inflation?
    A. PPI (2011) B. CPI (2010) C. WPI (2004-2005) D. RTI E. None of these

Answer: Option (B)
4. What is the maximum ceiling on Foreign Direct Investment (FDI) for investment in the equity of Public Sector Banks in India?
    A. 20% B. 26% C. 49% D. 51% E. 74%

Answer: Option (A)
5. According to 2011 Census, Sex Ratio in India stood at -----females per 1000 males.
    A. 933 B. 965 C. 947 D. 940 E. None of these

Answer: Option (D)
Awards & Honors
1. The Arjuna Awards were instituted in the year
    A. 1963 B. 1965 C. 1961 D. 1957

Answer: Option (C)
2. The ‘Dronacharya Award’ is associated with
    A. Eminent Surgeons B. Famous Artists C. Sport Coaches D. Expert Engineers

Answer: Option (C)
3. Nobel Prizes are not given for which of the following fields?
    A. Physics B. Chemistry C. Peace D. Music

Answer: Option (D)
4. The Pulitzer Prize is associated with which one of the following?
    A. Environmental protection B. Olympic Games C. Journalism D. Civil Aviation

Answer: Option (C)
5. To encourage an increase in the quality, quantity, and availability of food in the world, the World Food Prize was founded by
    A. Prof. M.S. Swaminathan B. UNDP C. Prof. Norman Borlaug D. WHO

Answer: Option (C)
Sports
1. Who among the following has scored first double century in World Cup Cricket?
    A. Sachin Tendulkar B. Martin Guptill C. AB de Villiers D. Chris Gayle

Answer: Option (D)
2. Which of the following award is given to recognize outstanding achievement in sports?
    A. Padma Shri B. Arjuna Award C. Param Vir Chakra D. Ashok Chakra

Answer: Option (B)
3. The number of players on each side in baseball is -
    A. Seven B. Eight C. Nine D. Ten

Answer: Option (C)
4. Which country led a boycott of the 1980 Olympic Games held in Moscow?
    A. Great Britain B. China C. USA D. South Korea

Answer: Option (C)
5. 'Ryder Cup' is awarded to the players of -
    A. Golf B. Baseball C. Basketball D. Cards

Answer: Option (A)
Agriculture
1. Which disease occurs, whenmore sorghum is consumed?
    A. Rickets B. Scurvy C. Night blindness D. Pellagra

Answer: Option (D)
2. Which Sorghum variety is nonmulticast?
    A. Pusa Chari-2 B. M.P. Chari-2 C. M.P. Chari D. U.P. Chari-1

Answer: Option (D)
3. Which is the highest digestible protein non-leguminous crop among the following?
    A. Napier B. Maize silage C. Maize D. Iowar

Answer: Option (D)
4. The crop with yarns of sunnhemp is prepared in-
    A. 12-15 weeks B. 15-17 weeks C. 10-12 weeks D. 8-10 weeks

Answer: Option (A)
5. Which is not an inorganic matter in the following?
    A. Magnesium B. Iron C. Fat D. Iodine

Answer: Option (C)
International Economy
1. The credit of developing the concept of modern economic growth goes to:
    A. Arthur Lewis B. Michael P. Todaro C. Gunnar Mydral D. Simon Kuznets

Answer: Option (D)
2. The most simple and popular method of measuring economic development is to calculate the trend of gross national product (GNP) at __________
    A. Current prices B. Constant prices C. Both of the above D. None of the above

Answer: Option (B)
3. “Underdeveloped countries are the slums of the World Economy.” This statement is by
    A. Ragnar Nurkse B. A.N. Cairncross C. Colin Clark D. Jagdish Bhagwati

Answer: Option (B)
4. Which among the following is a characteristic of underdevelopment?
    A. The vicious circle of poverty B. Rising mass consumption C. Growth of industries D. High rate of urbanization

Answer: Option (A)
5. According to W.W. Rostow, the stages of economic growth are:
    A. Two B. Three C. Four D. Five

Answer: Option (D)
Fiscal-Monetary Policies
1. As higher is the MPS
    A. Lower is the multiplier. B. Higher is the investment spending C. Higher is the equilibrium income. D. All the answers are right

Answer: Option (A)
2. A decrease in the MPC may cause:
    A. A fall in the equilibrium income B. An increase in the equilibrium income. C. It does not affect the equilibrium income D. The government spending multiplier rise

Answer: Option (A)
3. To increase the money supply, the bank central could:
    A. Cut taxes B. Purchase bonds in the open-market C. Encourage people to hold more cash (currency in circulation) D. Increase government spending

Answer: Option (B)
4. The variable that connects the market of money and the market of goods via investment spending is:
    A. The MPC B. The interest rate C. The MPS D. The CPI

Answer: Option (B)
5. Point out the monetary policy instrument:
    A. An increase in direct taxes B. Open-market operations C. Freezing pensions D. A cut in the government purchase of goods and services

Answer: Option (B)

LIC AAO – Related Information
LIC AAO IT/ Chartered Accountant/ Actuarial – Reasoning Ability - Study Guide
LIC AAO IT/ Chartered Accountant/ Actuarial – Current Affairs - Study Guide