Banking Awareness Quiz (Set - 19)

Mentor for Bank Exams
Banking Awareness Quiz (Set - 19)
1. In India Mutual Funds are regulated by ________.
a) Securities and Exchange Board of India
b) Reserve Bank of India
c) State Bank of India
d) Small Industrial Development Bank of India
e) None of these
Answer: a)
2. KYC Compliance is done to ________.
a) Identify a person
b) To know the address of a person
c) To ensure the genuineness the person‟s identity as mentioned in the application and to verify the correctness of address
d) Concern state government
e) None of these
Answer: c)
3. MICR stands for _________.
a) Magnetic Ink Character Recognition
b) Maximum Individual Cancer Risk
c) Michigan Incident Crime Reporting
d) Magnetic Ink Check Reader
e) None of these
Answer: a)
4. Open Money Market is a place for selling and buying of financial instrument by _______.
a) All financial institutions
b) Only by Commercial Banks
c) Only by Common Banks
d) Indian Government
e) None of the above
Answer: a)
5. Which of the following is the first commercial bank to launch mutual fund?
a) State Bank of India
b) Canara Bank
c) PNB
d) Bank of India
e) None of these
Answer: a)
6. Who can invest in a commercial paper?
a) Individuals
b) Banking Companies
c) Corporate bodies registered or incorporated in India and unincorporated bodies, Non- Resident Indians (NRIs) and Foreign Institutional Investors (FIIs)
d) All of the above
e) None of these
Answer: d)
7. The committee on Banking Regulations and Supervisory Practices which released the agreed frame work on international convergence of capital measures and capital standards in July 1988 is popularly known as _______.
a) Vaz Committee
b) Cooks Committee
c) Basel Committee
d) Rao Committee
e) None of these
Answer: c)
8. Reverse Repo rate is the rate at which RBI Pays interest to Commercial Banks and it is linked to Repo Rate and the rate is ________.
a) 1% above Repo Rate
b) 1% below Repo Rate
c) Same as Repo Rate
d) None of these
e) Cann‟t be determined
Answer: b)
9. Which is the first Public Sector Bank to issue capital to public?
a) Indian Overseas Bank
b) Syndicate Bank
c) Oriental Bank of Commerce
d) Punjab National Bank
e) None of these
Answer: c)
10. Which of the following rates is not decided by the RBI?
a) Bank Rate
b) Repo Rate
c) Reverse Repo Rate
d) Prime Lending Rate
e) None of these
Answer: d)
11. Which of following is NOT a function of the Reserve Bank of India?
a) Fiscal Policy Functions
b) Exchange Control Functions
c) Issuance, Exchange and destruction of currency notes
d) Monetary Authority Functions
e) Supervisory and Control Functions
Answer: a)
12. With a view to facilitate payment of balance in the deposit account to the person named by the depositor without any hassles in the event of death of the account holder, the following facility was introduced for bank accounts in our country______
a) Will
b) Registration
c) Nomination
d) Indemnity
e) Guarantee
Answer: c)
13. 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) Govt. employees
e) Rural residents
Answer: c)
14. On which one of the following issues IMF has supported monetary policy of India?
a) Introduction of GST.
b) Stimulus for agriculture sector
c) Concessions for foreign investment
d) Tightening of monetary policy
e) None of these
Answer: d)
15. In the term STRIPS, the first letter “S” denotes _______
a) Single
b) Small
c) Special
d) Savings
e) Separate
Answer: e) “Separate Trading of Registered Interest and Principle of Securities”
16. When the loan is granted for purchase of white goods it is called ________.
a) Consumption loan
b) White goods loan
c) Consumer durable loan
d) Business loan
e) Proprietary loan
Answer: c)
17. Structure of Basel II is based on how many pillars?
a) Two
b) Ten
c) Four
d) Five
e) Three
Answer: e)
18. Expand the term FRBM ______
a) Financial Responsibility and Business Management
b) Fiscal Responsibility and Business Management
c) Financial Responsibility and Budget Management
d) Fiscal Responsibility and Budget Management
e) Formal Responsibility and Business Management
Answer: d)
19. Which of the following organization / agencies has established a fund known as Investor Protection Fund?
a) RBI
c) Bombay Stock Exchange
d) Ministry of Finance
e) Ministry of Commerce & Industry
Answer: c)
20. The CRR and SLR maintenance is on the ________
b) DTL
c) Total Deposits
e) None of these
Answer: a)