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These notes are based on important questions and syllabus. They are for preparation purposes only and not guaranteed exam predictions.

Financial Literacy VAC 101

B.Com Semester I • Important Questions

Unit I — Long Questions

Financial Planning & Budgeting

Meaning, importance, need, procedure and different types of budgets.

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Avenues for Savings from Surplus

Concept of savings and various avenues for investing surplus funds.

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Financial Literacy

Meaning, features, components and major concepts of financial literacy.

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Financial Institutions

Meaning, types and role of financial institutions in the economy.

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Unit I — Short Questions

Steps in Financial Planning

Procedure for financial planning and budgeting.

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Risk Management Plan

Meaning and importance of risk management plan.

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Close-ended Scheme

Concept and features of close-ended schemes.

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Concept of Savings

Meaning and importance of savings.

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Financial Knowledge

Meaning and significance of financial knowledge.

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Features of Financial Literacy

Main characteristics and features of financial literacy.

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Financial Instruments

Short note on financial instruments.

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Financial Intermediation

Meaning and role of financial intermediation.

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Unit II — Long Questions

Commercial Banking: Meaning & Functions

Role of commercial banks in economic development.

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Types of Banks

Different types of banks and their functions.

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Types of Bank loan

Different types of bank loan.

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Insurance sector plays an important role in economic development

Insurance sector

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Insurance: Meaning, Functions & Types

Definition, importance and various types of insurance.

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General Insurance

Meaning and principles of fire insurance contract.

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Life Insurance

Nature, importance and principles of life insurance.

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