NIACL AO English Practice Paper 2026, FREE PDF & Quiz

Q1. Which of the following best describes the condition of India’s insurance sector before liberalisation in 2000?

Q2. According to the passage, which of the following is NOT a key mandate of IRDAI?

Q3. What does ‘insurance penetration’ mean as used in the passage?

Q4. Which of the following can be inferred from the passage about the COVID-19 pandemic?

Q5. What is the ‘protection gap’ referred to in the passage?

Q6. Which word in the passage is closest in meaning to ‘catalyst’?

Q7. India’s non-life insurance penetration compared to the global average is:

Q8. Which of the following is mentioned in the passage as a cause of low insurance penetration in India?

Q9. What is the twin mandate of New India Assurance as a public sector undertaking?

Q10. Which of the following distribution channels has helped address barriers to insurance penetration according to the passage?

Q11. What does the passage suggest about the creditworthiness of poor borrowers?

Q12. What caused the Andhra Pradesh microfinance crisis of 2010?

Q13. Which of the following is a regulation introduced by RBI for NBFC-MFIs?

Q14. What is ‘multiple lending’ as described in the passage?

Q15. Which technology is mentioned in the passage as being used for KYC in digital microfinance?

Q16. What new regulatory challenges have emerged with digital microfinance?

Q17. The word ‘heralded’ in the first paragraph most nearly means:

Q18. Which of the following is NOT mentioned as a benefit of technology in microfinance?

Q19. The passage’s tone towards the microfinance sector can best be described as:

Q20. Which word from the passage means ‘difficult to achieve or find’?

Q21. Fill in the blank: “The Reserve Bank of India plays a ______ role in maintaining financial stability in the country.”

Q22. Fill in the blank: “One of its core responsibilities is to ______ the money supply in the economy.”

Q23. Fill in the blank: “When inflation rises above a comfortable level, the RBI typically ______ interest rates…”

Q24. Fill in the blank: “…to make borrowing more expensive and thereby ______ consumer spending.”

Q25. Fill in the blank: “Conversely, when economic growth ______, the central bank may lower rates…”

Q26. Fill in the blank: “…to ______ investment and consumption.”

Q27. Fill in the blank: “Beyond monetary policy, the RBI also ______ commercial banks…”

Q28. Fill in the blank: “…to ensure they maintain adequate capital and ______ sound lending practices.”

Q29. Fill in the blank: “This regulatory oversight became especially ______ during the non-performing asset (NPA) crisis…”

Q30. Fill in the blank: “The RBI introduced the Prompt Corrective Action (PCA) framework to ______ banks with deteriorating financial health from taking on further risk.”