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1. Under PMAY (Pradhan Mantri Awas Yojana), the interest subsidy for EWS/LIG category is:
A. 3%
B. 4%
C. 6.5% ✓
D. 5%
Under PMAY-CLSS, EWS/LIG category gets 6.5% interest subsidy on home loans up to ₹6 lakh for a tenure of 20 years, translating to approximately ₹2.67 lakh subsidy.
2. Which of the following is NOT a type of mutual fund based on structure?
A. Open-ended fund
B. Close-ended fund
C. Interval fund
D. Index fund ✓
Based on structure, mutual funds are: Open-ended, Close-ended, and Interval funds. Index fund is classified based on investment strategy, not structure.
3. The maximum UPI transaction limit for person-to-person transfer is:
A. ₹50,000
B. ₹1 lakh ✓
C. ₹2 lakh
D. ₹5 lakh
UPI transaction limit is ₹1 lakh for regular P2P transfers. Enhanced limits of ₹2 lakh apply for verified merchants and ₹5 lakh for capital market transactions.
4. MUDRA loans are categorized into three types. Which is the highest category?
A. Shishu (up to ₹50,000)
B. Kishore (₹50,000 to ₹5 lakh)
C. Tarun (₹5 lakh to ₹10 lakh) ✓
D. Yuva (₹10 lakh to ₹50 lakh)
MUDRA (Micro Units Development and Refinance Agency) loans have 3 categories: Shishu (up to ₹50,000), Kishore (₹50,000 to ₹5 lakh), and Tarun (₹5 lakh to ₹10 lakh). Tarun is the highest.
5. Risk profiling of a wealth management client primarily assesses:
A. Credit score only
B. Risk tolerance, time horizon, and financial goals ✓
C. Annual income only
D. Number of bank accounts
Risk profiling assesses the client's risk tolerance (ability and willingness to take risk), investment time horizon, and financial goals to recommend suitable investment products.