Do you know which bank first introduced ATMs in India? Do you know what does the letter 'Q' in NASDAQ stand for?
Think you know all about the money market? Test your finance gyaan with this quiz:
1. Who is known as the original Big Bull?
a. Rakesh Jhunjunwala b. Ketan Parekh c. Harshad Mehta
Wrong Try again..
Wrong The correct answer is c. In the second half of 1991 Harshad Shantilal Mehta, an Indian stockbroker, had earned the nickname of the 'Big Bull', because he was said to have started the bull run in the stock market.
Correct! In the second half of 1991 Harshad Shantilal Mehta, an Indian stockbroker, had earned the nickname of the 'Big Bull', because he was said to have started the bull run in the stock market.
Wrong The correct answer is c. The NASDAQ Stock Market, commonly known as the NASDAQ, is an American stock exchange. "NASDAQ" stands for National Association of Securities Dealers Automated Quotations. It is the second-largest stock market by market capitalisation in the world after the New York Stock Exchange.
Correct! The NASDAQ Stock Market, commonly known as the NASDAQ, is an American stock exchange. "NASDAQ" stands for National Association of Securities Dealers Automated Quotations. It is the second-largest stock market by market capitalisation in the world after the New York Stock Exchange.
4. Who was the first Indian Governor of the Reserve Bank of India?
a. Sir Chintaman D Deshmukh b. Dr Manmohan Singh c. Dr Raghuram Rajan
Wrong Try again...
Wrong The correct answer is a. Chintaman Dwarkanath Deshmukh, a member of the Indian Civil Service, was the first Indian Governor of the Reserve Bank of India. His association with the Bank commenced in 1939, when he was appointed Government's liaison officer. He later served as Secretary and thereafter in 1941 as Deputy Governor of the Bank. On the demise of James Taylor, he took over stewardship of the Bank and was appointed Governor in August, 1943.
Correct! Chintaman Dwarkanath Deshmukh, a member of the Indian Civil Service, was the first Indian Governor of the Reserve Bank of India. His association with the Bank commenced in 1939, when he was appointed Government's liaison officer. He later served as Secretary and thereafter in 1941 as Deputy Governor of the Bank. On the demise of James Taylor, he took over stewardship of the Bank and was appointed Governor in August, 1943.
5. What do you call a fixed sum of money paid to someone each year, typically for the rest of their life for an investment or insurance?
a. Recurring deposit b. Annuity c. Gratuity
Wrong Try again...
Wrong The correct answer is b. An 'Annuity' is a financial product sold by financial institutions that is designed to accept and grow funds from an individual and then, upon annuitisation, pay out a stream of payments to the individual at a later point in time. Annuities are primarily used as a means of securing a steady cash flow for individuals during their retirement years.
Correct! An 'Annuity' is a financial product sold by financial institutions that is designed to accept and grow funds from an individual and then, upon annuitisation, pay out a stream of payments to the individual at a later point in time. Annuities are primarily used as a means of securing a steady cash flow for individuals during their retirement years.
6. Which was the first nationalised bank of India to float a trust and issue a mutual fund?
a. UTI Bank b. State Bank of India c. Indian Bank
Wrong Try again...
Wrong The correct answer is b. The formation of Unit Trust of India marked the evolution of the Indian mutual fund industry in the year 1963. In November 1987, SBI Mutual Fund became the first non-UTI mutual fund in India. SBI Mutual Fund was later followed by Canbank Mutual Fund, LIC Mutual Fund, Indian Bank Mutual Fund, Bank of India Mutual Fund, GIC Mutual Fund and PNB Mutual Fund.
Correct! The formation of Unit Trust of India marked the evolution of the Indian mutual fund industry in the year 1963. In November 1987, SBI Mutual Fund became the first non-UTI mutual fund in India. SBI Mutual Fund was later followed by Canbank Mutual Fund, LIC Mutual Fund, Indian Bank Mutual Fund, Bank of India Mutual Fund, GIC Mutual Fund and PNB Mutual Fund.
7. Who was dubbed 'The Man Who Broke the Bank of England'?
a. Warren Buffet b. George Soros c. Peter Lynch
Wrong Try again...
Wrong The correct answer is b. George Soros is one of the most successful investors of all times. On September 16, 1992, known as Black Wednesday, Soros's fund sold short more than $10 billion worth of British pounds, profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries, or to float its currency. The UK had then withdrawn from the European Exchange Rate Mechanism, thus devaluing the pound sterling and earning Soros an estimated $1.1 billion; hence he was dubbed 'the man who broke the Bank of England'.
Correct! George Soros is one of the most successful investors of all times. On September 16, 1992, known as Black Wednesday, Soros's fund sold short more than $10 billion worth of British pounds, profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries, or to float its currency. The UK had then withdrawn from the European Exchange Rate Mechanism, thus devaluing the pound sterling and earning Soros an estimated $1.1 billion; hence he was dubbed 'the man who broke the Bank of England'.
8. Japan has the largest amount deposited in this system. What is it?
a. Mutual funds b. Life insurance c. Post office saving account
Wrong Try again...
Wrong The correct answer is c. The postal savings system in Japan, through the 24,000 post offices, accepts funds in various forms, including savings, annuities, and insurance. The post offices offered the highest interest rates for regular savings accounts (8 per cent for time deposits in 1990) and tax-free savings until 1988, thereby collecting more deposits and accounts than any other institution in the world.
Correct! The postal savings system in Japan, through the 24,000 post offices, accepts funds in various forms, including savings, annuities, and insurance. The post offices offered the highest interest rates for regular savings accounts (8 per cent for time deposits in 1990) and tax-free savings until 1988, thereby collecting more deposits and accounts than any other institution in the world.
9. Which country is considered as the birthplace of mutual funds?
a. United Kingdom b. France c. Netherlands
Wrong Try again...
Wrong The correct answer is c. A Dutch merchant named Adriaan Van Ketwich created an investment trust in 1774. Ketwich probably theorised that diversification would increase the appeal of investments to smaller investors with minimal capital. The name of Ketwich's fund, Eendragt Maakt Magt, translates to 'unity creates strength'.
Correct! A Dutch merchant named Adriaan Van Ketwich created an investment trust in 1774. Ketwich probably theorised that diversification would increase the appeal of investments to smaller investors with minimal capital. The name of Ketwich's fund, Eendragt Maakt Magt, translates to 'unity creates strength'.
11. Who is called the Father of Index Fund Investing?
a. Peter Lynch b. John Bogle c. Warren Buffet
Wrong Try again...
Wrong The correct answer is b. John Bogle is the founder and retired CEO of The Vanguard Group. Bogle is famous for his insistence on the superiority of index funds over traditional actively managed mutual funds. He contends that it is a folly to attempt to pick actively managed mutual funds and expect their performance to beat a well-run index fund over a long period of time, after accounting for the fees that actively managed funds charge.
Correct! John Bogle is the founder and retired CEO of The Vanguard Group. Bogle is famous for his insistence on the superiority of index funds over traditional actively managed mutual funds. He contends that it is a folly to attempt to pick actively managed mutual funds and expect their performance to beat a well-run index fund over a long period of time, after accounting for the fees that actively managed funds charge.
12. Which country had a coin with the words 'Mind Your Business'?
a. Israel b. United States c. Greece
Wrong Try again...
Wrong The correct answer is b. On April 21, 1787, the Congress of the Confederation of the United States authorised a design for an official copper penny, later referred to as the Fugio cent because of its image of the sun shining down on a sundial. This coin was reportedly designed by Benjamin Franklin; as a reminder to its holders, he put at its bottom the message, 'Mind Your Business'. The image and the words form a rebus meaning that time flies, do your work.
Correct! On April 21, 1787, the Congress of the Confederation of the United States authorised a design for an official copper penny, later referred to as the Fugio cent because of its image of the sun shining down on a sundial. This coin was reportedly designed by Benjamin Franklin; as a reminder to its holders, he put at its bottom the message, 'Mind Your Business'. The image and the words form a rebus meaning that time flies, do your work.
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