This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking Affairs > Banking Affairs – Quiz 62 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 62 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following defines Commercial Papers? A) Long term debt issued by private corporations. B) Short-term and unsecured promissory notes issued by corporations with-very high credit standings. C) Savings instrument, in which funds must remain on deposit for a specified period, and premature withdrawals incur interest penalties. D) 1 and 3. Show Answer Correct Answer: B) Short-term and unsecured promissory notes issued by corporations with-very high credit standings. 2. Which of the following funds is basically an index fund which trades like a closed-end fund? A) Open-end fund. B) Mutual fund. C) Money market fund. D) Exchange-traded fund. Show Answer Correct Answer: D) Exchange-traded fund. 3. Which of the following committee s recommended the setting up of ATM? A) Rangarajan committee. B) Shere committee. C) Saraf committee. D) Narasimhan committee. Show Answer Correct Answer: A) Rangarajan committee. 4. The maximum period for which a fixed deposit can be accepted by a commercial bank is A) 10 years. B) No limit. C) 15 years. D) 8 years. Show Answer Correct Answer: A) 10 years. 5. Prof. Muhammad Yunus, the receipient of the Nobel Peace Prize 2006 is the exponent of which of the following concepts in the field of banking? A) Retail Banking. B) Real Time Gross Settlement. C) Core Banking. D) Micro Credit. Show Answer Correct Answer: D) Micro Credit. 6. Financial inclusion means provision of A) Financial services, namely, payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the same. 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. Show Answer Correct Answer: A) Financial services, namely, payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the same. 7. Which of the following is not acceptable as address proof for opening a bank account by an individual? A) Letter from any recognized public authority. B) Other than those gives as options. C) A rent agreement indicating the address of the customer duly registered with State Govt. D) Domicile certificate. Show Answer Correct Answer: C) A rent agreement indicating the address of the customer duly registered with State Govt. 8. Which of the following operates in Inter-bank call money market? A) Scheduled commercial banks. B) Co-operative banks. C) Financer house of India. D) All of the above. Show Answer Correct Answer: D) All of the above. 9. Which pay is reckoned as emoluments for pension and gratuity? A) Grade pay. B) Basic pay. C) Gross pay. D) None of the above. Show Answer Correct Answer: B) Basic pay. 10. Who is the chairman of Indian oil corporation Ltd? A) D. Subbarao. B) A.K. Hazarika. C) B. Ashok. D) N.C. Jha. Show Answer Correct Answer: C) B. Ashok. 11. The Central Bank can decrease the Bank credit component of the money supply by..... A) Increasing the Bank rate. B) Lowering the cash reserve requirements. C) Buying of government securities. D) Lowering the Bank rate. Show Answer Correct Answer: A) Increasing the Bank rate. 12. Providing Gas subsidy, government pensions, providing scholarships etc through banks called as A) Area Banking. B) Visual Banking. C) Royal Banking. D) Social Banking. Show Answer Correct Answer: D) Social Banking. 13. As per newspaper reports, ANZ was given licence to open a branch in Mumbai. ANZ is a bank based in A) Angola. B) Argentina. C) Afghanistan. D) Australia. Show Answer Correct Answer: D) Australia. 14. Who sets up the Bench Mark Interest Rate for Germany? A) Deutsche Bank. B) Deutsche Bundes Bank. C) European Central Bank (ECB). D) German Central Bank. Show Answer Correct Answer: C) European Central Bank (ECB). 15. The industrial Finance Corporation of India provides loans to A) Government companies only which are in core sector (i.e., power generation, steel, coal and cement, etc). B) Newly established industries in backward districts. C) Industries in private sector. D) Joint stock companies and cooperative societies engaged in the manufacturing and processing of goods. Show Answer Correct Answer: D) Joint stock companies and cooperative societies engaged in the manufacturing and processing of goods. 16. Where is the SARFAESI Act not applicable? A) On unsecured loans. B) Loans below 100000. C) Where remaining debt is below 20% of the original principal. D) All of the above. Show Answer Correct Answer: D) All of the above. 17. What does the term FX future stands for? A) It is a future contract to exchange one currency for another at a specified date in future. B) It is also known as Currency Future. C) The exchange rate is fixed on purchased date. D) All of the above. Show Answer Correct Answer: D) All of the above. 18. Which among the following is the largest foreign bank operating in India in terms of asset base? A) HSBC. B) Stanchart. C) Citibank. D) DBS. Show Answer Correct Answer: C) Citibank. 19. IDF provides funds to which of the following sectors? A) Infrastructure sector. B) Health sector. C) Insurance sector. D) None of the above. Show Answer Correct Answer: A) Infrastructure sector. 20. For availment of refinance from National Housing Bank, scheduled commercial bank has to satisfy which of the following conditions? A) The capital adequacy ratio of the banks should be as per the norms prescribed by the Reserve Bank of India. B) The net non-performing assets to the net advances of the bank should not exceed 10%. C) The scheduled commercial bank has earned profit for the last 2 years. D) All of the above. Show Answer Correct Answer: D) All of the above. 21. In case a depositor is a sole proprietor and holds deposits in the name of the proprietory concern as well as in the individual capacity, the maximum insurance cover is available up to A) Rs. 100000. B) Rs. 200000. C) Rs. 500000. D) All of these. Show Answer Correct Answer: A) Rs. 100000. 22. Which of the following is an account maintained in foreign currency with an Authorised Dealer Bank? A) Exchange Eligible Foreign Currency Account. B) Earners' Eligible Foreign Currency Account. C) Earners' Exchange Foreign Currency Account. D) Exchange Earners' Foreign Currency Account. Show Answer Correct Answer: D) Exchange Earners' Foreign Currency Account. 23. What is the upper limit of RTGS transactions in India? A) No limit. B) Rs. 50 lacs. C) Rs.20 lacs. D) Rs. 10 lacs. Show Answer Correct Answer: A) No limit. 24. The term national income represents A) Gross national product at market prices minus depreciation. B) Gross national product at markets prices minus depreciation plus net factor income from abroad. C) Gross national product at market prices minus depreciation and indirect taxes plus subsides. D) Gross national product at market prices minus net factor income from abroad. Show Answer Correct Answer: C) Gross national product at market prices minus depreciation and indirect taxes plus subsides. 25. The Banking Ombudsman A) Is in charge of bank loan for buses. B) Fixes the rates of interest for loans. C) Resolves complaints of customers. D) Is the head of all nationalized banks. Show Answer Correct Answer: C) Resolves complaints of customers. 26. Which of the following is known as broad money? A) $M_1$. B) $M_3$. C) $M_2$. D) $M_4$. Show Answer Correct Answer: B) $M_3$. 27. Which of the following is true about NBFC? A) NBFC cannot accept demand deposits. B) NBFCs cannot issue cheques drawn on itself. C) Deposit insurance facility of DICGC is not available to depositors of NBFCs. D) All are true. Show Answer Correct Answer: D) All are true. 28. What is the current duration of New Foreign Trade Policy? A) 2009-2014. B) 2010-2015. C) 2004-2009. D) 2007-2012. Show Answer Correct Answer: A) 2009-2014. 29. The profit on interest charged on the hire purchase should appear in the profit and loss account in what manner? A) The interest charged in that period only should be included. B) Interest should be apportioned in proportion to the repayment totals. C) The total interest levied should be divided equally over the total period the for purchase agreement. D) Interest should instead be capitalised on the balance sheet. Show Answer Correct Answer: A) The interest charged in that period only should be included. 30. Which of the following banking does not come under Social Banking? A) Crediting the LPG subsidy in the beneficiary bank account. B) Offering Jan Dhan Scheme accounts. C) Allowing students to credit their scholarships through No-frill accounts. D) Allowing the subsidy loan to disadvantage sections of the society. Show Answer Correct Answer: C) Allowing students to credit their scholarships through No-frill accounts. ← PreviousNext →Related QuizzesBanking QuizzesFinance QuizzesBanking Affairs Quiz 1Banking Affairs Quiz 2Banking Affairs Quiz 3Banking Affairs Quiz 4Banking Affairs Quiz 5Banking Affairs Quiz 6Banking Affairs Quiz 7Banking Affairs Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books