Q1. In order to attract more foreign exchange the Govt of India decided to allow foreign investment in LLP firms.What is full form of “LLP” as used in this reference?
(a) Local Labour Promotion
(b) Low Labour Projects
(c) Limited Loan Partnership
(d) Longer Liability Partnership
(e) Limited Liability Partnership
Q2. The process by which a life insurance policyholder can transfer all rights, title and interest- under a policy contract to a third person is known as?
(a) Assignment of the policy
(b) Hypothecation of the policy
(c) Reinvestment of the policy
(d) Negotiation of the policy
(e) Nomination of the policy
Q3. Which of the following is the popular name of the norms by which a bank satisfies itself about the customer’s identity and activities?
(a) Basel norms
(b) KYC norms
(c) Service norms
(d) Lending norms
(e) None of the above
Q4. Today, Banks in addition to normal banking services, offer which of the following services?
(a) Internet Banking
(b) Depository Services
(c) Financial Counselling Services
(d) Only (a) and (b) above
(e) All of the above above
Q5. KYC guidelines followed by the banks have been framed on the recommendations of the?
(a) Ministry of Home Affairs
(b) Ministry of Rural Development
(c) Indian Banks Association
(d) Financial Intelligence Unit
(e) Reserve Bank of India
Q6. As we all know, banks publish their quarterly performance to bring transparency in the system and also to give a clear picture of their performance to the public. How were results of Quarter 2 different from the results of Quarter 1 of the listed banks including giants like SBI & ICICI banks?
(1) Performance was subdued in Quarter 2.
(2) Yields on advances of almost all listed banks have come down.
(3) Advances grew at a slower pace when compared to deposits.
(a) Only (1) is true
(b) Only (2) is true
(c) Only (3) is true
(d) All (1), (2) & (3) are true
(e) None of the above
Q7. One of the major challenges banking industry is facing these days is deliberate efforts of some people to bring money earned through illegal activities in circulation. Which of the following acts has been passed to prevent this activity?
(a) Payment & Settlements Act
(b) Banking Regulation Act
(c) Negotiable Instruments Act
(d) Narcotics and Psychotropic SubstanceAct
(e) Prevention of Money Laundering Act
Q8. When a bank returns a cheque unpaid, it is called?
(a) payment of the cheque
(b) drawing of the cheque
(c) cancelling of the cheque
(d) dishonor of the cheque
(e) taking of the cheque
Q9. A bank's 'fixed deposit' is also referred to as a............?
(a) term deposit
(b) savings bank deposit
(c) current deposit
(d) demand deposit
(e) home savings deposit
Q10. Banking Ombudsman Scheme is applicable to the business of __________ .
(a) All scheduled commercial banks excluding RRBs
(b) All scheduled commercial banks including RRBs
(c) Only Public Sector Banks
(d) All Banking Companies
(e) All scheduled banks except private banks
Q11. As per the reports, the collection of direct taxes has gone up by about 19% in last few months. Which of the following agencies releases the figures about tax collection?
(a) Central Statistical organisation
(b) Reserve Bank of India
(c) Department of Income Tax
(d) Central Board of Direct Taxes
(e) None of the above
Q12. As we know commercial banks accept deposits from the public. What do banks do with this money?
(a) This is a type of credit creation. Bank gives this on loan
(b) This is an income for the bank
(c) Banks give this money directly to the govt for developmental projects
(d) This money is deposited with the RBI who in turn gives some interest on it banks
(e) None of the above
Q13. Which of the following in NOT a type of cheque issued by an individual?
(a) Bearer cheque
(b) Order cheque
(c) Crossed cheque
(d) Savings cheque
(e) None of the above
Q14. Which of the following terms is used in banking?
(a) Vacuum
(b) Power
(c) Density
(d) Credit Card
(e) None of the above
Q15. “Sensitive Index” of Bombay Stock Exchange is called ……………?
(a) Forex
(b) MAX
(c) LIBOR
(d) Sensex
(e) None of the above
ANSWERS :
1. e
2. a
3. b
4. e
5. e
6. a
7. e
8. d
9. a
10.b
11.d
12.a
13.d
14.d
15.d
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