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IFSS: Key Financial Concepts & Questions

This document contains possible questions for an exam on financial systems and services (IFSS). It includes short answer questions worth 1 mark each about defining key terms like financial system, financial assets, re-insurance, and distinguishing between types of insurance, deposits, and markets. It also includes medium questions worth 5 marks about distinguishing financial products and the role of regulatory bodies. Finally, it contains long form questions worth 10 marks requiring explanations of the components of the Indian financial system, principles of insurance contracts, functions of commercial banks, and bank deposit products.

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shubham kumar
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20 views2 pages

IFSS: Key Financial Concepts & Questions

This document contains possible questions for an exam on financial systems and services (IFSS). It includes short answer questions worth 1 mark each about defining key terms like financial system, financial assets, re-insurance, and distinguishing between types of insurance, deposits, and markets. It also includes medium questions worth 5 marks about distinguishing financial products and the role of regulatory bodies. Finally, it contains long form questions worth 10 marks requiring explanations of the components of the Indian financial system, principles of insurance contracts, functions of commercial banks, and bank deposit products.

Uploaded by

shubham kumar
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

IFSS – Possible Questions -1

Q.1. Short Questions: ( 1 marks each)

1. Define Financial system


2. Briefly discuss about two financial assets.
3. What is re-insurance?
4. How life insurance is different from non-life insurance?
5. What do you mean by financial intermediary?
6. Define Financial Market.
7. What is the key difference between demand deposits and term deposits?
8. What is primary function of the financial system?
9. Define Money Market.
10. What are the primary functions of a bank?
11. Note down two primary functions of insurance.
12. Write briefly about the principle of “utmost good faith”
13. What is principle of subrogation?
14. What is capital market?
15. Write about two utility functions of Banks.

[Link] Questions: ( 5 marks)

A. What are the unique features of Money market?


B. Distinguish between Endowment Plan and Money Back Plan.
C. Who is IRDAI? What are its functions.?
D. Write about agency functions of commercial banks.
E. Write about agency functions of commercial banks.

Q. 3. Long Type (10 marks)


A) Discuss about various components of Indian Financial System.
B) Define insurance as a contract. What are the principles which make insurance a
special contract?
C) Discuss various functions of a commercial bank.
D) Discuss various deposit products of banks.

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