Banking Awareness Quiz

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1. Banks in our country normally publicize
that additional interest rate is allowed on
retail domestic term deposits of?
(a) Minors
(b) Married Women
(c) Senior citizens
(d) Government Employees
(e) Rural residents
Option : C
2. When the rate of inflation increases?
(a) Purchasing power of money increases
(b) Purchasing power of money decreases
(c) Value of money increases
(d) Purchasing power of money remains
unaffected
(e) Amount of money in circulation decreases
Option : B
3. A centralized database with online
connectivity to branches, internet as well as
ATM-network which has been adopted by
almost all major banks of our country is
known as?
(a) Investment Banking
(b) Core Banking
(c) Mobile Banking
(d) National Banking
(e) Specialized Banking
Option : B
4. Which of the following is NOT considered
a money market instrument?
(a) Treasury Bills
(b) Repurchase Agreement
(c) Commercial Paper
(d) Certificate of Deposit
(e) Shares and Bonds
Option : E
5. Which of the following is necessary while
opening deposit accounts in banks?
(a) Will
(b) Registration
(c) Nomination
(d) Indemnity
(e) Guarantee
Option : C
6. Which of the following is not a banking
term?
(a) Letter of credit
(b) MIBOR
(c) Factoring services
(d) Entry load
(e) MIBID
Option : D
7. Which of the following organizations issue
the rules of global trade?
(a) IMF
(b) World Trade Organization
(c) Foreign trade
(d) G-20
(e) None
Option : B
8. One single statement that depicts the
financial position of a Bank and / or
Business enterprise at a given point of time
is called:
(a) Statement of product details
(b) Foreign exchange
(c) Balance Sheet
(d) Balance of payment
(e) Trading and Manufacturing account
Option : C
9. The Reverse Mortgage scheme is launched
to give benefit to which of the following
groups of society?
(a) Persons below 60 years
(b) Senior Citizens
(c) Unemployed youth
(d) Orphans
(e) All
Option : B
10. One of the major challenges banking
industry is facing these days is curbing
deliberate efforts of some people to bring
money earned through illegal activities in
circulation. Which of the following act is
passed to prevent this activity?
(a) Payment & settlements Act
(b) Control money supply Act
(c) Narcotics and Psychotropic substance Act
(d) Prevention of Money laundering Act
(e) None
Option : D
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1. What is ‘Special Crossing’?
1) Not Negotiable words in two parallel lines
2) Account Payee words in two parallel lines
3) & Co. words in two parallel lines
4) Any bank’s name with or without two
parallel
lines and payable to collecting banker only.
5) None of these
Option : 4
2. What is the rate of penalty applicable for
payment of term deposit Pre maturely to
legal heirs of a decreased customer on the
request of the legal heirs?
1) 1% less than applicable rate for the
period
of deposit
2) 1% less than the rate mentioned in the
receipt
3) No penalty is to be applied
4) As per discretion of Branch Manager
5) None of these
Option : 3
3. A person introducing an account to a bank
is liable for_________
1) Establishing proper identity of the account
holder only and no financial accountability in
case of any fraud etc.
2) Making good the loss that the account
holder may cause
3) Ensuring that the customer maintains the
account properly
4) Tracing the account holder as an when
bank
desires
5) None of these
Option : 1
4. Which of the following does not find
mention in the Negotiable Instrument Act?
1) General Crossing
2) Special Crossing
3) Not Negotiable Crossing
4) Double crossing
5) Account Payee Crossing
Option : 4
5. The Financial Results of the banks and
other organisations normally are expressed
in quarters. What does Q-I mean?
1) Results of January-March
2) Performance during April- June
3) The period when the profits are highest
4) Period where the turnover is more
5) The period when the profits are highest
Option : 2
6. Who is the regulator of payment and
settlement system in India?
1) SEBI
2) IRDA
3) RBI
4) Central Government
5) None of these
Option : 3
7. The Gilt-Edged security market is the
market for which of the following?
1) Market for trading in gold
2) Market for trading in sliver
3) Market for government securities
4) Market for industrial securities
5) All the above
Option : 3
8. The IT firm which has launched, BaNCS
Digital, specifically for American retail
banks:
1) Infosys
2) Reliance
3) TCS
4) Mahindra
5) None of these
Option : 3
9. Net Working Capital means:
1) Current Assets only
2) Current Assets minus Current Liabilities
3) Capital plus Reserves minus Intangible
Assets
4) Current Assets minus Stocks
5) None of these
Option : 2
10. The stake the RBI has allowed banks to
acquire in companies defaulting after
restructuring of their loans upto:
1) 81 percent
2) 61 percent
3) 51 percent
4) 41 percent
5) None of these
Option : 3