This quiz works best with JavaScript enabled. Home > Banking > Banking Affairs > Banking Affairs – Quiz 58 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 58 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. With reference to Banking what is PCR? A) Profit Credit Ratio. B) Provision Credit Ratio. C) Provision Coverage Ratio. D) Provision Cash Ratio. Show Answer Correct Answer: C) Provision Coverage Ratio. 2. To make KCC a Smart Card cum Debit Card, Government of India had constituted a Working Group under the Chairmanship of A) C. Ranga Rajan. B) Chanda Kocchar. C) Arundhathi Bhattacharya. D) T.M. Bhasin. Show Answer Correct Answer: D) T.M. Bhasin. 3. Which of the following is not the feature of Real Time Gross Settlement (RTGS)? A) Payments are settled transaction by transaction. B) Settlement of funds is revocable. C) Settlement is done in real time. D) It is a fully secured system which uses digital signatures and public key encryption for safe and secure message transmission. Show Answer Correct Answer: B) Settlement of funds is revocable. 4. Which of the following defines letter of credit? A) A contractual agreement made between different parties to compensate for any damages or losses. B) It is a letter from a bank, guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. C) A solemn promise or agreement to do or refrain from doing something. D) A security interest on real property grant to a lender. Show Answer Correct Answer: B) It is a letter from a bank, guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. 5. Bancassurance is A) An insurance scheme to insure bank deposits. B) An insurance scheme exclusively for the employees of banks. C) A composite financial service offering both banking and insurance products. D) None of these. Show Answer Correct Answer: D) None of these. 6. Which of the following are not insured by the Deposit Insurance and Credit guarantee Corporation (DICGC)? A) Commercial Banks. B) Local Area Banks. C) Regional Rural Banks. D) Primary Co-operative Societies. Show Answer Correct Answer: D) Primary Co-operative Societies. 7. On July 12, 1982, the ARDC was merged into A) RBI. B) NABARD. C) EXIM Bank. D) HDFC Bank. Show Answer Correct Answer: B) NABARD. 8. The system of Ad-hoc Treasury Bills in India was replaced by Ways and Means Advances with effect from..... A) 1st April, 1997. B) 1st April, 1996. C) 1st April, 1998 st. D) 1st April, 1995. Show Answer Correct Answer: A) 1st April, 1997. 9. Where is the headquarter of Bharatiya Reserve Bank Note Mudran Private Limited located? A) Chennai. B) New Delhi. C) Hyderabad. D) Bangalore. Show Answer Correct Answer: D) Bangalore. 10. The common feature of all the agricultural credit societies in the country is that A) The persons living in cities and town are their members. B) The agriculturists are their members. C) Only small and marginal farmers are their members. D) Only the farmers having land holding of 8 acre and above are their members. Show Answer Correct Answer: B) The agriculturists are their members. 11. Factoring Business is also known as by which of the following names? A) Accounts Receivable Factoring. B) Asset Based Lending. C) Invoice Factoring. D) All of the Above. Show Answer Correct Answer: D) All of the Above. 12. Mahesh and Suresh are friends aged 14 and 15 respectively. They want to open a joint account in your bank. You will A) Allow them to open a joint account to be operated jointly. B) Allow them to open a joint account with operating instructions either or survivor. C) Allow them to open a joint account with operating instructions former or survivor. D) Allow them to open a joint account with operating instructions any one or survivor. Show Answer Correct Answer: A) Allow them to open a joint account to be operated jointly. 13. Liberalized Exchange Rate Management System (LERMS) involving dual exchange rate mechanism was instituted on the recommendations of a high level committee. Who was the head of this committee? A) Dr. C. Rangarajan. B) Urjit Patel. C) Nandan Nilekani. D) None of the Above. Show Answer Correct Answer: A) Dr. C. Rangarajan. 14. In which year the ICICI Limited was merged with its subsidiary ICICI Bank? A) 2002. B) 2004. C) 2005. D) 1995. Show Answer Correct Answer: A) 2002. 15. Which of the following organizations is selected by the RBI for issuing globally compatible Legal Entity Identifiers (LEIs)? A) Industrial Credit and Investment Corporation of India (ICICI). B) Clearing Corporation of India Ltd (CCIL). C) Housing Development Finance Corporation (HDF. D) Security and Exchange Board of India (SEBI). Show Answer Correct Answer: B) Clearing Corporation of India Ltd (CCIL). 16. 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. Show Answer Correct Answer: C) Bancassurance. 17. Which among the following is world's largest foreign exchange market? A) New York. B) London. C) Tokyo. D) Moscow. Show Answer Correct Answer: B) London. 18. Which statement correctly describes RS.Bridge financing'? A) Finance provided to bridge the gap between poor and the rich. B) Bridge financing begins at the end of the first loan and ends with the start of the second loan. C) Bridge financing ends at the start of the first loan and starts with the end of the second loan. D) Finance provided to bridge the gap between Rural and the Urban people. Show Answer Correct Answer: B) Bridge financing begins at the end of the first loan and ends with the start of the second loan. 19. Where is the headquarters of World Bank situated? A) Paris. B) Basel. C) Vienna. D) Washington D.C. Show Answer Correct Answer: D) Washington D.C. 20. Which of the following correctly define the Foreign Exchange (Forex) Market? A) It is a market where only Foreign currency is used. B) It is a market where foreign currencies are bought and sold simultaneously. C) It is a physical market where only foreigners are allowed. D) None of the Above. Show Answer Correct Answer: B) It is a market where foreign currencies are bought and sold simultaneously. ← PreviousNext →Related QuizzesBanking QuizzesBanking Affairs Quiz 1Banking Affairs Quiz 2Banking Affairs Quiz 3Banking Affairs Quiz 4Banking Affairs Quiz 5Banking Affairs Quiz 6Banking Affairs Quiz 7Banking Affairs Quiz 8Banking Affairs Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books