Financial Sector MCQ — 2 Practice Questions with Answers

Practice 2 Financial Sector multiple-choice questions with detailed answers and explanations. Ideal for RAS/RPSC exam preparation.

2 Questions Economy

Q1. Under the Sabka Bima Sabki Raksha Act 2025, the Net Own Fund (NOF) requirement for foreign reinsurers entering India was reduced from Rs 5,000 crore to:

A Rs 500 crore

B Rs 1,000 crore Correct

C Rs 2,500 crore

D Rs 3,000 crore

Explanation

The Sabka Bima Sabki Raksha Act reduces the Net Own Fund (NOF) requirement for foreign reinsurers from Rs 5,000 crore to Rs 1,000 crore. This reduction is intended to attract a larger pool of global reinsurers to operate in India, increasing competition and reducing reinsurance costs for domestic insurers.

Q2. Which of the following powers were newly granted to IRDAI under the Sabka Bima Sabki Raksha Act 2025?

A Power to nationalise private insurance companies

B Power to set benchmark insurance premiums

C Disgorgement powers to recover ill-gotten gains from regulatory violators Correct

D Power to directly license foreign insurance agents

Explanation

The Sabka Bima Sabki Raksha Act grants IRDAI disgorgement powers — the authority to recover ill-gotten gains from insurance entities that violate regulatory norms. This is a significant regulatory upgrade aligning India's insurance oversight with IAIS Core Principles for insurance supervision globally.

You've seen 2 of 2 questions

Frequently Asked Questions

How many Financial Sector MCQ questions are available?

There are 2 Financial Sector practice MCQs available on Aspirant Academy, with detailed answers and explanations for each question.

Are answers and explanations provided for Financial Sector MCQs?

Yes, every Financial Sector question comes with the correct answer and a detailed explanation to help you understand the underlying concept.

How is Financial Sector relevant to the RAS/RPSC exam?

Financial Sector falls under the Economy section of the RAS/RPSC syllabus. It is a frequently tested area and regular practice with these MCQs will strengthen your preparation.

Can I practice Financial Sector questions in Hindi?

Yes, Aspirant Academy offers bilingual support. You can practice Financial Sector MCQs in both English and Hindi, including questions, options, and explanations.

Explore Other Subjects

Science & Technology Rajasthan History, Art & Culture Indian Constitution & Governance Indian Economy Current Affairs Indian History (Ancient & Medieval) Geography of Rajasthan Indian History (Modern)

Ready to practice all 2 questions?

Create a free account to access all Financial Sector MCQs, get detailed explanations, and track your progress across every subject.

Browse all subjects

Financial Sector MCQ — 2 Practice Questions with Answers

Practice Questions

You've seen 2 of 2 questions

Frequently Asked Questions

More Topics in Economy

Infrastructure

Taxation

MSME

Cooperatives

Agriculture

International Trade

Agriculture Schemes

Budget

Government Schemes

Banking and Insolvency

Consumer Protection

Defence

Defence Budget

Energy & Petroleum

Fertiliser Subsidy and Agriculture Policy

Fiscal Policy

Forex Reserves

Agricultural Subsidies

Health Economics

Indian Economy

Labour Reform

Official Statistics

Rural Development

Technology

Trade & Exports

Urban Development

Public Finance

Union Budget

GDP Growth

GDP and Growth

Startup India and Innovation Ecosystem

Startup Policy

Agriculture Marketing

Banking and Financial System

Aviation Safety

Banking Regulations

Aviation

Trade and Industry

Digital Payments

Ease of Doing Business

Employment

Energy

Agriculture and Input Subsidies

Energy Infrastructure

Energy Policy and Nuclear Sector

Energy Security

External Sector and Foreign Exchange

Trade

Fiscal Federalism and State Finances

Explore Other Subjects

Ready to practice all 2 questions?