LIC AAO Previous Year Solved Question Papers 2013-2015

The LIC AAO Examination was conducted on 12 May, 2013. The solved question paper provided here covers all segments namely General Knowledge and Current Affairs, Reasoning Ability, Quantitative Aptitude, Computer Knowledge, English Language etc. Solve the questions now and be better prepared for upcoming LIC Assistant Administrative Officer exams.


1 To which category of customers do the banks in India offer a 'Basic Savings Bank Deposit Account' with minimum common facilities?
(a) Businessmen (b) BPL families (c) Beneficiaries of Antyodaya Anna Yojana
(d) NRIs and PIOs (e) All customers (Ans : e)

2. Which of the following is correct regarding the Reverse Repo Rate used by the Reserve Bank of India (RBI)?
(a) It is used to control liquidity in the system
(b) It is the rate at which the RBI borrows money from commercial banks.
(c) An increase in reverse repo rate can prompt banks to park more funds with the RBI
(d) It is a tool which can be used by the RBI to drain excess money out of the banking system
(e) All of the above (Ans : e)

Also See : LIC AAO Solved Question Papers 2015

3. In which of the following categories is the prestigious Kalidas Samman not given?
(a) Classical Music (b) Classical Literature (c) Classical Dance (d) Theatre (e) Plastic Arts (Ans : b)

4. In India, the capital market is regulated by the Capital Markets Division of–
(a) Reserve Bank of India (b) Department of Economic Affairs, Ministry of Finance
(c) Securities and Exchange Board of India (d) Confederation of Indian Industry
(e) None of the above(Ans : b)

5. Which country would be visited by Bangladesh External Affairs Minister Ms. Dipu Moni in May 2013 to co-chair the first Joint Consultative Commission meeting between the two countries?
(a) India (b) Saudi Arabia (c) Austria (d) Myanmar (e) China (Ans : a)

6. What does NMCEX stand for?
(a) National Multi-Commodity Exchange (b) National Mineral Corporation Export Council
(c) National Mint for Currency Exchange (d) National Multi-Currency Exchange
(e) National Multipurpose Council for Export (Ans : a)

7. SHG is the abbreviated form of–
(a) Shimla Housing Group (b) Standard Himalayan Goat (c) Self Help Group
(d) Swedish High Grapevine (e) Standard Horse Genome (Ans : c)

8. Which of the following situations is described by "too much money chasing too few goods" ?
(a) Built-in Inflation (b) Recession (c) Cost-pull Inflation (d) Stagflation (e) Demand-pull Inflation (Ans : e)

9. Which of the following bodies/ institutes/ministries provides insurance to bank deposits in India?
(a) Department of Economic Affairs, Ministry of Finance (b) Department of Currency Management, Reserve Bank of India
(c) Insurance Regulatory Development Authority (d) Securities and Exchange Board of India
(e) Deposit insurance and Credit Guarantee Corporation (Ans : e)

10. What does EMI denote in the context of housing loans?
(a) Easy Money in India (b) Equated Monthly Installment (c) Easy Monthly Installment
(d) Equity at Monthly Invar (e) Equivalent Mortgage Institution (Ans : b)

11. The Information and Communication Technologies (ICT) are being increasingly used by the governments to deliver its services at the locations convenient to the citizens. All possible information services for the rural citizens are packaged as a single point access through PC based–
(a) Outlets (b) Kiosks (c) Internet Cafes (d) Offices (e) ISPs (Ans : b)

12. Which of the following is not a category of Schedule Commercial Banks in India?
(a) Nationalized Banks (b) Foreign Banks (c) Regional Rural Banks
(d) State Bank of India and its associates (e) All of the above (Ans : e)

13. Where is the Secretariat of the Basel Committee on Banking Supervision (BCBS), which provides a forum for regular cooperation on banking supervisory matters, located?
(a) Denmark (b) South Africa (c) Switzerland (d) Canada (e) Spain (Ans : c)

14. Financial Holding Company (FHCs) in India are regulated by–
(a) Reserve Bank of India (b) Securities Exchange Board of India (c) NABARD
(d) Union Ministry of Finance (e) Federation of Indian Industries (Ans : a)

15. Which of the following public sector insurance companies of India is headquartered in Mumbai ?
(1) National Insurance Company Limited (2) Life Insurance Corporation of India
(3) New India Assurance Company Limited (4) United India Insurance Company Limited
Select the correct answer using the codes given below
(a) Only (1) and (2) (b) Only (3) and (4) (c) Only (2) and (3)
(d) Only (1), (3) and (4) (e) All of the above (Ans : c)

16. Who among the following is the signatory to a Rs. 10 note in India with the promise. "I promise to pay the bearer the sum often rupees" ?
(a) President of India (b) Union Minister of Finance (c) Governor, Reserve Bank of India
(d) Prime Minister of India (e) Secretary to the Union Ministry of Finance (Ans : c)

17. Which country recently passed legislation regarding provisions that allow the constitution to be adopted via referendum ?
(a) Moldova (b) Italy (c) Greece (d) Ukraine (e) Mexico (Ans : d)

18. Regional Rural Banks in India are classified as–
(a) Scheduled Commercial Banks (b) Cooperative Banks (c) Non-Scheduled Commercial Banks
(d) Non Banking Financial Companies (e) Finance Holding Companies (Ans : a)

19. Francois Hollande paid a two-visit to India In February 2013. He is the President of–
(a) Venezuela (b) France (c) Brazil (d) South Africa (e) Canada (Ans : b)

20. Jacob Juma who was in recent news is the President of–
(a) Democratic Republic of Congo (b) Algeria (c) South Africa (d) Rwanda (e) Morocco (Ans : c)

21. The most popular India Rupee exchange rate is the INR to the rate of–
(a) Euro (b) Yen (c) U. S. Dollar (d) Pound Sterling (e) Yuan (Ans : c)

22. Which country recently announced to sell its first indigenously developed 1000 MW nuclear reactor to Pakistan?
(a) Russia (b) United States of America (c) China (d) Britain (e) France (Ans : c)

23. Which of the following is/are not the objectives of the International Monetary Fund?
(a) To promote International monetary cooperation
(b) To facilitate the expansion of international trade
(c) To assist in the reconstruction and development of territories of members by facilitating the investment of capital for productive purpose
(d) To ensure stability to foreign exchange rates
(e) To promote capital investment in backward and underdevelopment countries (Ans : c)

24. What does FDI stand for?
(a) Foreign Development Investment (b) Foreign Direct Investment (c) French Development Institution
(d) Foreign Development Investment (e) For Deep Insight (Ans : b)

25. In the field of business and finance, AML, is the abbreviated form of–
(a) Association for Mormon Letters (b) Algebraic Modeling Language (c) Anti-Money Laundering
(d) Acton Main Line (e) Association of Muslim Lawyers (Ans : c)

26. Which of the following tools is used by the Reserve Bank of India to reduce liquidity in the banking system?
(a) Cash Reserve Ratio (b) Open market operations (c) Statutory Liquidity Ratio
(d) Current Base Rate (e) Repo Rate (Ans : a)

27. Which of the following is a tax on domestic production ?
(a) Corporation Tax (b) Wealth Tax (c) Income Tax (d) Excise Tax (e) Customs Duty (Ans : d)

28. Which of the following bodies/ organizations decides on the volume and value of bank notes to be printed in India?
(a) Securities Exchange Board of India (b) India Government Mint, Kolkata (c) Reserve Bank of India
(d) Union Ministry of Finance (e) International Monetary Fund (Ans : c)

29. Which of the following is not a negotiable instrument as per the Negotiable Instruments Act, 1881 ?
(a) Promissory note (b) Bill of Exchange (c) Cheque (d) Hundi (e) All of the above (Ans : d)

30. Which of the following does not come under insurance sector in India ?
(a) Life Insurance (b) General Insurance (c) Health Insurance
(d) Property Insurance (e) Mental Disability Insurance (Ans : e)

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