n NISM Certifications
XV NISM Series XV
Medium

Which department of the Ministry of Finance is involved with matters such as financial assistance to states and borrowings by states?

Practice question from NISM XV Mock Test 7 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. Department of Expenditure

    Correct answer

  2. B

    Department of Economic Affairs

  3. C

    Department of Financial Services

  4. D

    Department of Revenue

Why this is the answer

The Department of Expenditure manages government finances, approves state borrowings, and oversees budget allocations. Department of Economic Affairs handles fiscal policy, Department of Financial Services deals with banking and insurance, and Department of Revenue focuses on taxation.

Test yourself for real

Take a full NISM Series XV mock test.

Same duration, same weighting, same difficulty distribution as the real exam — with explanations on every question.