BANKING AWARENESS QUIZ - 7

1. By increasing repo rate, the economy may observe the following effects ______

a) Rate of interest on loans and advances will be costlier.     

b) Industrial output would be affected to an extent.

 c) Banks will increase rate of interest on deposits.

d) Industry houses may borrow money from foreign countries.              

e) All of these.

2. Increased interest rates, as is existing in the economy at present will_______

 a) Lead to reduction in borrowings         

b) Lead to lower GDP growth.     

c) Mean higher cost of raw materials.

d) Mean lower cost of raw materials.       

e) Mean higher wage bill.

 3. Which of the following schemes is launched to provide pension to people

in unorganized sectors in India?

 a) Swabhiman                        

b) Jeevan Dhara            

c) Jeevan Kalyan           

d) ASHA           

e) Swalamban

 4. A cheque returned for insufficiency of funds. Payee will have right to notice

 and approach court of law for justice under section 138 of which act?

a) Indian Penal Code                         

b) Negotiable Instrument Act            

c) Criminal Procedure Code

d) Payment and Settlement Act          

e) Indian Contract Act

5. Mr. Rajendra had filled a complaint with Banking Ombudsman but is not 

satisfied with the decision. What is the next option before him for getting his matter resolved?

a) Write to the CMD of the Bank                   

b) File an appeal before the Finance Minister

c) File an appeal before the Banking Ombudsman again     

d) File and appeal before the Dy. Governor RBI

e) Simply close the matter as going to court involves time and money

6. Which of the following is an example of financial assets?

a) National Saving Certificate            

b) Infrastructure Bonds          

c) Indira Vikas Patra

d) Krishi Vikas Patra                        

 e) All of these

7. Bank branches which can undertake foreign exchange business directly are known as:

a) Authorized dealers   b) Foreign dealers     c) Overseas branches   d) Approved dealers  

e) Exchange branches

8. Insurance cover for bank deposits in our country is provided by ____

a) SBI                   b) Govt of India                   c) GIC                d) LIC           e) DICGC

9. The Financial Literacy does not include which of the following?

a) How to invest the funds          

b) How to use the limited funds carefully        c) How to minimize the risks

d) How to reinvest the money earned                                e) None of these

10. 'ADB Refer to                 

a) Amedical Development Bank           

b) Amedical depository Bureau          

c) Additional Debit Balance

d) Only a&b                                          

e) Asian Development bank

11. When a banker talks about CDR, what is he talking about?

a) Corporate Debt Restructuring             b) Corporate Debt Rollover               

 c) Company Debt Rollover

d) Corporate Deposit Restructuring         e) Company Deposit Restructuring

12. Expand the term ALM as used in Banking/Finance sector?

a) Asset Liability Management          

b) Asset Liability Maturity              

 c) Asset Liability Mismatch               

d) Asset Liability Manpower              

 e) Asset Liability Maintenance

13. Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) are terms

 most closely related to which of the following industries/ markets?

a) Capital Market        b) Banking industry      c) Commodities market      

d) Money Market      

 e) Mutual fund

14. What is the maximum period for which domestic term deposits are normally 

accepted by the banks in our country?

 a) 3 yr            

b) 5 yr            

c) 7 yr            

d) 10 yr                     

e) 12 yr

15. If you wish to purchase some US Dollars for your travel abroad, you should approach?

a) The ministry of finance                                                       

 b) The US Embassy              

c) Any Bank Branch authorized to do such activity             

d) The Reserve Bank of India

e) External Affairs Ministry

16. What does the letter 'L' stands for in the term LAF commonly used 

in financial/economic news?

a) Liquidity                 b) Least                      

c) Liabilities                   

d) Long             

e) Liquid

17. Which of the following is not classified as a Commercial Bank?                       

a) Public Sector Bank             b) Foreign Bank           c) Private Sector Bank              

d) Regional Rural Bank

e) Urban Cooperative Bank

18. Which of the following is not the name of the Banking Organization?

a) HDFC                    

b) IDBI                      

c) YES                        

d) SEBI                      

e) ICICI

 19. Money laundering means _____

a) Hiding of income source mainly to avoid income tax                   

 b) Money acquired from undisclosed sources and deposited in foreign banks

 c) Money acquired from undisclosed sources and deposited in foreign banks

 d) Process of conversion of money obtained illegally to appear to have originated from 

legitimate sources to convert black money into white money.  

e) Money acquired from drug trafficking

20. Monetary Policy as an arm of the economic policy is administered by _____

a) Government of India         

b) RBI             

c) SBI            

d) Govt of the respective states       

 e) None

21. Which of the following is not a primary function of a Bank?

 a) Granting loans                        b) Collecting cheques/ drafts of Customers           

c) Arranging VISA for students for abroad education      

d) Issuing bank drafts       

e) Selling Gold/Silver Coins.

22. Reserves which can act as a liquidity buffer for Commercial Banks during crisis times are ___

a) CAR            

 b) CRR                

c) CAR & CRR                 

d) CRR & SLR                  

e) SLR

BANKING AWARENESS QUIZ ANSWERS - 7

1. A
2. C
3. E
4. B
5. D
6. A
7. A
8. E
9. E
10. E
11. A
12. A
13. B
14. D
15. C
16. A
17. E
18. D
19. D
20. B
21. C
22. D

SEPTEMBER CURRENT AFFAIRS QUIZ -5

(1) The Ministry of Urban Development (MoUD) has signed a memorandum of understanding(MoU) with which publishing company to publish & distribute a special edition of the comic book, focusing on Swachh Bharat Mission?

A) Penguin Books India 

B) Amar Chitra Katha

C) Scholastic

D) National Book Trust

(2) Which committee has been constituted by Union Government to study silt in river Ganga in Bihar?

A) S K Sahu committee

B) Rajnish Ranjan committee

C) A K Sinha committee

D) Nitish Kumar committee

(3) An unmanned SpaceX Falcon 9 rocket exploded on the launch pad at Cape Canaveral recently. Where is Cape Canaveral?

A) USA

B) France

C) UK

D) Italy

(4) The Ministry of Civil Aviation has signed a MOU with which state to build small airports?

A) West Bengal

B) Assam

C) Uttar Pradesh

D) Gujarat

(5) U Htin Kyaw, who visited New Delhi, recently, is the present President of which of the following countries?

A) Myanmar

B) Vietnam

C) Cambodia

D) Venezuela

(6) Ali Bongo is the President of which country?

A) Tanzania

B) Algeria

C) Swaziland

D) Gabon

(7) Sharad Rao who recently passed away was a _____.

A) Doctor

B) Union leader

C) Activist

D) Teacher

(8) Jiri Vesely is related to which game?

A) Tennis B) Skating C) Skating D) Cricket

(9) Bharat Sanchar Nigam Limited(BSNL) has extended free roaming service for it’s mobile subscribers by another one year recently. Who is the present CEO of BSNL?

A) Hasmukh Adhia

B) Vinod Rai

C) Ratan P Watal

D) Anupam Shrivastava

(10) Kashmiri Lal Zakir, who passed away recently, was a famous poet in which language?

A) Urdu

B) Marathi

C) Telugu 

D) Tamil

SEPTEMBER CURRENT AFFAIRS QUIZ ANSWERS-5

(01) B  

(02) C  

(03) A  

(04) D  

(05) A  

(06) D  

(07) B  

(08) A  

(09) D  

(10) A

BANKING AWARENESS QUIZ - 6

1. Who decides on the value and volume of bank notes to be printed and on what basis?

a) Finance Ministry      

b) Planning Commission    

c) RBI      

 d) Stock exchange      

e) None of the above

2. What is the maximum denomination for which coins can be produced in India?

a) Rs 1000          

b) Rs 10       

c) Rs 100          

d) Rs 50       

e) Rs 5

3. The Reserve Bank of India began production of notes in 1938, issuing Rs.25 

     Rs.10 Rs.1000 notes. Rs 1000 note was re-introduced again in.......?

a) 1987             

b) 2000              

c) 2003              

d) 2006            

e) 2010

4. One rupee notes bear the signature of..........?

a) Governor of Reserve Bank of India            

b) Prime Minister of India           

c) President of India

d) Secretary, Ministry of Finance (Government of India)                                       

 e) None of the above

5. Mortgage is a..............?

a) Security on movable property for a loan given by a bank

b) Security on immovable property for a loan given by a bank

c) Concession on immovable property for a loan given by a bank

d) Facility on immovable property for a loan given by a bank

e) Security on immovable property for a deposit received by a bank

6. In terms of Section 5(1) (5) of the Banking Regulation Act, 1949,

 a ‘banking company’ means any company which-

a) accepts deposits from the public      

b) undertakes lending of money     

c) transacts the business of banking in

 d) All of the above                               

e) None of the above

7. Which of the following is not a negotiable instrument? 

a) Cheque           

b) Pay order           

c) Bill of Exchange        

d) All of the above are negotiable instruments

 e) None of the above

8. Which of the following is true? 

a) Surplus funds with banks can be invested in pass through certificates

b) This will be indirect expansion of credit portfolio            

c) both (a) and (b)         

d) Either (a) or (b)                                                                  

 e) None of the above

9. EOQ stands for? 

(a) Evaluation-on-Quantity         

(b) Even-on-Quality                  

(c) Economic Order Quantity

 (d) Economic-on-Quality             

(e) None of the above

10. Example of the product line of a Bank is? 

(a) Car loan           

(b) Personal loan        

  (c) Home loan        

(d) All of the above        

(e) None of the above

BANKING AWARENESS QUIZ - 6 ANSWERS

1. C
2. A
3. C
4. D
5. B
6. D
7. D
8. C
9. C
10. D

BANKING AWARENESS - QUIZ - 5

1. Interest payable on savings bank accounts is?

a) De-regulated by RBI           

b) Regulated by State Governments          

c) Regulated by Central Govt             

d) Regulated by RBI       

 e) Regulated by Finance Minister

2. The usual deposit accounts of banks are?

a) Current accounts, electricity accounts and insurance premium accounts.               

 b) Current accounts, post office savings, bank accounts and term deposit accounts

 c) Loan accounts, savings bank accounts and term deposit accounts

 d) Current accounts, savings bank accounts and term deposit accounts.

e) Current bill accounts and term deposit accounts.

3. Fixed deposits and recurring deposits are?

 a) Repayable after an agreed period           

b) Repayable on demand           

c) Not repayable      

 d) Repayable after death of depositors    

e) Repayable on demand or after an agreed period as per banks choice

4. Accounts are allowed to be operated by cheques in respect of?

 a) Both savings bank accounts and fixed deposit accounts.                  

 b) Savings bank accounts and current accounts.    

 c) Both savings bank accounts and loan accounts.

d) Both savings bank accounts and cash accounts only.  

e) Both current accounts and fixed deposit accounts.

5. Which of the following is correct statement?

a) No interest is paid on current deposit accounts

b) Interest is paid on current accounts at the same rate as term deposit accounts

c) The rate of interest on current accounts and savings accounts are the same.

d) No interest is paid on any deposit by the bank.       

e) Savings deposits are the same as current deposits.

6. Banking services delivered to a customer by means of a computer

    control system that does not directly involve banks branch is called?

a) Universal banking      

 b) Virtual banking   

c) Narrow banking   

d) Brick & Mortal banking  

 e) None

7. Financial inclusion means provision of?

a) Financial services namely payments, remittances, savings,

     loans and insurance at affordable cost to persons not yet given the bank             

b) Ration at affordable cost to persons not yet given the same

c) House at affordable cost to persons not yet given the same

d) Food at affordable cost to persons not yet given the same

e) Education at affordable cost to persons not yet given the same

 8. When a bank returns a cheque unpaid, it is called?

a) Payment of the cheque               

b) Drawing of the cheque           

c) Canceling of the cheque

d) Dishonour of the cheque           

e) Taking of the cheque

9. Who is the Chairman of the committee constituted by RBI to study issues

 and concerns in the Micro Finance Institutions (MFI) Sector?

a) YH Malegam         

 b) Dr. KC Chakraborty     

c) C. Rangrajan           

 d) M. Damodaran      

e) Usha Thorat

10. Which of the following types of accounts are known as 'Demat Accounts'?

a) Accounts which are Zero Balance                     

b) Accounts which are opened to facilitate repayment of a loan taken from the bank.

No other business can be conducted from there

c) Accounts in which shares of various companies are traded in electronic form

d) Accounts which are operated through internet banking facility                      

 e) None of the above

11. NEFT means?

 a) National Electronic Funds Transfer                             

 b) Negotiated Efficient Fund Transfer system

c) National Efficient Fund Transfer solution                    

d) Non Effective Fund Transfer system

e) Negotiated Electronic Foreign Transfer system.

12. Distribution of insurance products and insurance policies by

banks as corporate agents is known as?

a) General insurance

b) Non life insurance                  

  c) Bancassurance         

 d) Insurance Banking                     

e) Deposit Insurance

13. In respect of partnership business, LLP stands for:

a) Local Labour Promotion   

b) Low Labour Projects                  

c) Limited Loan Partnership

d) Longer Liability Partnership        

 e) Limited Liability Partnership

14. What is a stale cheque?            

 a) A cheque issued without drawer's signature              

b) A cheque with only signature of the drawer

c) A cheque which has completed 3 months from the date of its issue 

d) any one of the above     e) none

15. Interest on savings bank account is now calculated by banks on?

a) Minimum balance during the month                             

  b) Minimum balance from 7th to last day of the month

c) Minimum balance from 10th to last day of the month  

 d) Maximum balance during the month                                

e) Daily product basis

16. Largest shareholder (in percentage shareholding) of a nationalized bank is?

a) RBI                        

b) NABARD               

 c) LIC              

d) Govt of India                    

 e) IBA