ASSOCIATE - IC26 LIFE INSURANCE FINANCE - 14

Que. 1 : Q1) A temporary structure has been constructed at a cost of Rs 120000. Assuming its salvage value of Rs 30000 at the end of 6 years, determine the amount of depreciation in the third year.

   1.  a) 24770

   2.  b) 44420

   3.  c) 15600

   4.  d) 15000

Que. 2 : Q2) Permanent Account Number (PAN) is a _________digit unique alphanumeric number issued by the Income Tax Department.

   1.  a) Twenty

   2.  b) Five

   3.  c) Ten

   4.  d) Fifteen

Que. 3 : Q3) Utmost Accuracy has to be ensured When posting to different accounts, casting accounts & balancing accounts because final accounts relating to an accounting period are based primarily on _____________

   1.  a) Journal Entries

   2.  b) Bank Pass books

   3.  c) Casn Book

   4.  d) Ledger Accounts

Que. 4 : Q4) Which of the following investments eligible for deduction u/s 80 C _________ has the shortest lock-in period?

   1.  a) Public Provident Fund (PPF)

   2.  b) Bank Fixed Deposits

   3.  c) Equity Linked Savings Schemes (ELSS)

   4.  d) National Savings Certificate (NSC IX issue)

Que. 5 : Q5) In the context of AML/CTF , CTR stands for

   1.  a) Combat Terrorism Report

   2.  b) Confidential Transaction Report

   3.  c) Cash Transaction Report

   4.  d) Certified Test Report