NIFT 2025 M.Des Question Paper (Available Soon)- Download Answer Key with Solutions PDF

NIFT Questions

• 1.

  Read the given passage and answer the questions that follow:
  Life Insurance Corporation of India (LIC) reported weak growth through HIFY24 but it witnessed a boost in embedded value (EV) due to equity market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals. sticky operating expenses (reduced slightly yearon-year but up in Q2FY24 versus Q1FY24). and high sensitivity of embedded value to equity volatility. 
  Traders may also factor in the likelthood of another stake sale by the Government of India. These concerns are reflected in valuations. LIC trades at a big discount in price/EV terms (less than 1x) compared to private sector rivals (mostly 3x or more). Growth is healthy on a sequential basis but weak on a Y-0-Y basis. The individual annualized premium equivalent (APE) in HIF’Y24 was flat Y-0-Y at Z 14,640 crore, whereas the group APE was down by 24.5 percent Y-0-Y to Z 7.990 crore. Policies that provide policyholders a share of the insurance company’s profits as an annual dividend payout are also called par or with-profit policies. 
  The VNB (value of new business) margin was flat on a Y-0-Y basis despite the rise in share of non-par business. which is margin positive. The VNB margin for HIFY24 was 14.61 percent against 14.58 percent in HIFY23. Though the rise in share of non-par products had a positive impact on the VNB margin. more benefits were given to policyholders, particularly for annuity. which pulled margins down again. 
  The product mix shift to non-par should push the VNB margin up in the long-term. But competitive intensity meant product pricing had to be low-margin and more benefits were offered to policyholders. The annuity rates have also been increased. The overall APE dropped 10.3 percent over the past year to ¥ 22.630 crore. The individual business accounted for 64.7 percent of the APE. The individual APE was flat Y-o-Y, whereas the group business dropped 24.5 percent. 
  The solvency ratio is adequate. and the movement to non-par is positive for margins. But further loss of market share would occur unless LIC pushes up growth rates to match rivals. It’s hard to estimate EV trends. Valuations are cheap which leaves room for some upside.

  ---

• 2.

  Read the given passage and answer the questions that follow:
  Drug major Novartis is planning to divest its Indian eyecare portfolio to Mumbaibased JB Chemicals, in a deal estimated to be around ¥ 1.000 crore. The Novartis spin-off will join the list of several MNCs pruning their drug portfolios and reducing exposure to the Indian market, due to multiple reasons. including increased competition and tough business environment. Sources say the move fits well with the MNC’s strategy to capitalize its ophthalmic therapy, while for JB Chemicals it will offer an entry into a growing business segment.
  Over last few months, global Big Pharma have been divesting their branded generic portfolio to domestic companies and rationalizing their portfolio by selling off key assets. Further, large Indian players are doubling down on India as an attractive diversification from a USgenerics market beaten up heavily by price erosion. As a consequence, several deals were inked where Indian companies snapped up high-growth brands from MNCs and local sellers at attractive valuations. The deal is expected to be announced over the next few days. Emails sent across to Novartis and JB Chemicals did not elicit a response. Ageing population and increasing access to eyecare. especially in emerging markets, is a strong growth opportunity for drug companies. The demand for eyecare is expected to increase significantly as people spend more time in front of tablets and mobile devices. Sources added that existing eyecare portfolio in India of Novartis is understood to be around Z 400-500 crore. including certain brands transferred from eyecare biggie Alcon. when it was spun off from Novartis. In 2019 under a global restructuring move, Novartis had spun off Alcon into a standalone business to focus on its core area of pharmaceuticals. Alcon is a global leader in eyecare, offering solutions to issues like cataracts, glaucoma., retinal diseases and refractive errors. 
  The stock market seems to have got a wind of the potential deal. Over the last few days. scrips of both Novartis India and JB Chem have witnessed a spurt. On December 7, JB Chem traded on a new 52-week high at Z 1555, while Novartis India stock closed Z 706 on Friday. Further. Novartis had last year announced the transfer of sales & distribution of a few of its established medicines, including the Voveran and Calcium range to Dr.Reddy’s.

  ---

• 3.

  Give one word for the given expression. One who goes into space.

  • astronomer
    
  • astrologer
    
  • astronaut
    
  • jetsetter
  View Solution

  ---

• 4.

  The value of $ \frac{1}{1 + p^{(y-z)} + p^{(x-z)}} + \frac{1}{1 + p^{(x-y)} + p^{(z-y)}} + \frac{1}{1 + p^{(y-x)} + p^{(z-x)}}, $ is:

  • 3
    
  • 1
    
  • 0
    
  • -1
    
  View Solution

  ---

• 5.

  Simplify the following expression: $ \frac{2^{n+5} - 4 \cdot 2^{n}}{2 \cdot (2^{n+4})} $.

  • \( 2^{n+1} - \frac{1}{4} \)
    
  • \( 2^{n+1} \)
    
  • \( -2^{n+1} \)
    
  • \( \frac{7}{8} \)
    
  View Solution

  ---

• 6.

  In a certain code, STOVE is written as FNBLK. Then how will VOTES be written in the same code?

  • FLKBN
    
  • LBNKF
    
  • LKNBF
    
  • LNBKF
    
  View Solution