MCQOPTIONS
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MCQOPTIONS
This section includes 3109 Mcqs, each offering curated multiple-choice questions to sharpen your Bank PO Exam (Generic) knowledge and support exam preparation. Choose a topic below to get started.
| 501. |
Any person can file a complaint before the the Banking Ombudsman, if the reply is not received from the bank within a period of _________ |
| A. | 15 days |
| B. | one month |
| C. | two months |
| D. | three months |
| Answer» C. two months | |
| 502. |
What is the maximum amount of compensation under Banking Ombudsman scheme 2006? |
| A. | Rs.4 lakh |
| B. | Rs.3 lakh |
| C. | Rs.5 lakh |
| D. | Rs.10 lakh |
| Answer» E. | |
| 503. |
The Banking Ombudsman is a senior official appointed by the ___________ |
| A. | SEBI |
| B. | Reserve Bank of India |
| C. | Indian Bank’s Association |
| D. | NABARD |
| Answer» C. Indian Bank’s Association | |
| 504. |
Which of the following is/are covered under the Banking Ombudsman Scheme, 2006? |
| A. | Scheduled Commercial Banks |
| B. | Regional Rural Banks |
| C. | Primary Co-operative Banks |
| D. | All of the Above |
| Answer» E. | |
| 505. |
The Banking Ombudsman Scheme was introduced under __________ of the Banking Regulation Act, 1949 by RBI with effect from 1995. |
| A. | Section 35A |
| B. | Section 25A |
| C. | Section 45A |
| D. | Section 15A |
| Answer» B. Section 25A | |
| 506. |
National Housing Bank (NHB), is an apex financial institution for housing, having headquarters in ______ |
| A. | Mumbai |
| B. | New Delhi |
| C. | Bengaluru |
| D. | Hyderabad |
| Answer» C. Bengaluru | |
| 507. |
National Housing Bank (NHB), a wholly owned subsidiary of the central bank, was established in 1988 under the _________ |
| A. | National Housing Bank Act, 1987 |
| B. | National Housing Bank Act, 1988 |
| C. | National Housing Bank Act, 1986 |
| D. | National Housing Bank Act, 1985 |
| Answer» B. National Housing Bank Act, 1988 | |
| 508. |
Person named in the instrument to whom or to whose order the money is to be paid is known as ______ |
| A. | Drawer |
| B. | Drawee |
| C. | Payer |
| D. | Payee |
| Answer» E. | |
| 509. |
A cheque which is truncated during the course of clearing cycle is called __________ |
| A. | Stale Cheque |
| B. | Mutilated Cheque |
| C. | Self Cheque |
| D. | Truncated Cheque |
| Answer» E. | |
| 510. |
Which of the following cheque is written by the account holder as pay self to receive the money in the physical form from the branch where he holds his account? |
| A. | Stale Cheque |
| B. | Mutilated Cheque |
| C. | Self Cheque |
| D. | Truncated Cheque |
| Answer» D. Truncated Cheque | |
| 511. |
If a cheque is presented for payment after three months from the date of the cheque is called ______ |
| A. | Stale Cheque |
| B. | Mutilated Cheque |
| C. | Self Cheque |
| D. | Truncated Cheque |
| Answer» B. Mutilated Cheque | |
| 512. |
A Cheque which is torn into two or more pieces and presented for payment, such a cheque is called _________ |
| A. | Stale Cheque |
| B. | Mutilated Cheque |
| C. | Ante-Dated Cheque |
| D. | Post-Dated Cheque |
| Answer» C. Ante-Dated Cheque | |
| 513. |
If any cheque bears a date which is yet to come then it is known as___________ |
| A. | Order Cheque |
| B. | Mutilated Cheque |
| C. | Ante-Dated Cheque |
| D. | Post-Dated Cheque |
| Answer» E. | |
| 514. |
If any cheque bears a date earlier than the date on which is presented to the bank is called ___________ |
| A. | Order Cheque |
| B. | Crossed Cheque |
| C. | Ante-Dated Cheque |
| D. | Post-Dated Cheque |
| Answer» D. Post-Dated Cheque | |
| 515. |
Which means drawing two parallel lines on the face of cheque with or without additional words like “& CO” or “account payee” or “Not Negotiable”? |
| A. | Order Cheque |
| B. | Crossed Cheque |
| C. | Ante-Dated Cheque |
| D. | Post-Dated Cheque |
| Answer» C. Ante-Dated Cheque | |
| 516. |
When the word “bearer” appearing on the face of a cheque is cancelled and when in its place the word “or order” is written on the face of cheque is called ____________ |
| A. | Order Cheque |
| B. | Crossed Cheque |
| C. | Ante-Dated Cheque |
| D. | Bearer Cheque |
| Answer» B. Crossed Cheque | |
| 517. |
When the words “or bearer” appearing on the face of the cheque are not cancelled, then the cheque is called a __________ |
| A. | Order Cheque |
| B. | Crossed Cheque |
| C. | Ante-Dated Cheque |
| D. | Bearer Cheque |
| Answer» E. | |
| 518. |
In NEFT What is the charge for transactions above Rs 1 lakh and upto Rs.2 lakh? |
| A. | not exceeding Rs 2.50 (+ Service Tax) |
| B. | not exceeding Rs 5 (+ Service Tax) |
| C. | not exceeding Rs 15 (+ Service Tax) |
| D. | None of the Above |
| Answer» D. None of the Above | |
| 519. |
In NEFT, What is the charge for transactions above Rs 10,000 upto Rs.1 lakh? |
| A. | not exceeding Rs 2.50 (+ Service Tax) |
| B. | not exceeding Rs 5 (+ Service Tax) |
| C. | not exceeding Rs 15 (+ Service Tax) |
| D. | None of the Above |
| Answer» C. not exceeding Rs 15 (+ Service Tax) | |
| 520. |
In NEFT What is the charge for transactions up to Rs 10,000? |
| A. | not exceeding Rs 2.50 (+ Service Tax) |
| B. | not exceeding Rs 5 (+ Service Tax) |
| C. | not exceeding Rs 15 (+ Service Tax) |
| D. | None of the Above |
| Answer» B. not exceeding Rs 5 (+ Service Tax) | |
| 521. |
The first 4 alpha characters in the 11 digit IFSC code represents ________ |
| A. | Bank Name |
| B. | Branch Name |
| C. | Place Name |
| D. | None of the Above |
| Answer» B. Branch Name | |
| 522. |
NEFT operates in hourly batches and there are _______ settlements from 8 am to 7 pm on week days. |
| A. | 3 |
| B. | 6 |
| C. | 8 |
| D. | 12 |
| Answer» E. | |
| 523. |
The beneficiary can expect to get credit for the NEFT transactions within ______business hours. |
| A. | 2 |
| B. | 3 |
| C. | 1 |
| D. | None of the Above |
| Answer» B. 3 | |
| 524. |
What is the charge of Inward transactions at destination bank branches in NEFT? |
| A. | Rs.1 |
| B. | Rs.1.50 |
| C. | Rs.2 |
| D. | No Charge |
| Answer» E. | |
| 525. |
The NEFT system facilitates ____cross-border transfer of funds from India to Nepal which is known as the Indo-Nepal Remittance Facility Scheme. |
| A. | One Way |
| B. | Two Way |
| C. | Multi way |
| D. | None of the Above |
| Answer» B. Two Way | |
| 526. |
In National Electronic Funds Transfer (NEFT) maximum amount per transaction is limited to ________ |
| A. | Rs.75000 |
| B. | Rs.50000 |
| C. | Rs.80000 |
| D. | Rs.90000 |
| Answer» C. Rs.80000 | |
| 527. |
NEFT is an electronic fund transfer system that operates on a _________ basis which settles transactions in batches. |
| A. | Domain Net Settlement (DNS) |
| B. | Defined Net Settlement (DNS) |
| C. | Declared Net Settlement (DNS) |
| D. | Deferred Net Settlement (DNS) |
| Answer» E. | |
| 528. |
Which of the following is an apex institution in the field of Industrial Finance? |
| A. | Industrial Reconstruction Bank of India |
| B. | Industrial Finance Corporation of India |
| C. | Industrial Development Bank of India |
| D. | Industrial Credit & Investment Corporation of India |
| Answer» D. Industrial Credit & Investment Corporation of India | |
| 529. |
Indian Banking Regulation Act was passed in the year ___________ |
| A. | 1989 |
| B. | 1968 |
| C. | 1949 |
| D. | 1948 |
| Answer» D. 1948 | |
| 530. |
Which of the following is not a member of the World Bank Group? |
| A. | International Development Association(IDA) |
| B. | International Bank for Reconstruction and Development(IBRD) |
| C. | International Finance Corporation(IFC) |
| D. | Bank of International Settlement(BIS) |
| Answer» E. | |
| 531. |
The largest number of commercial bank’s offices are located in ______ |
| A. | Kerala |
| B. | Karnataka |
| C. | Uttar Pradesh |
| D. | Tamil Nadu |
| Answer» D. Tamil Nadu | |
| 532. |
Which of the following is the feature of IBS? |
| A. | Multi Currency |
| B. | Multi Entity |
| C. | Multi Branch |
| D. | All of the above |
| Answer» E. | |
| 533. |
ICRA, CRISIL, and Standard and Poor’s (S&P) are ______ |
| A. | Financial Institutions |
| B. | NGOs |
| C. | NBFCs |
| D. | Credit Rating Agencies |
| Answer» E. | |
| 534. |
Which of the following is not e-banking software? |
| A. | ECS |
| B. | RTGS |
| C. | PIPS |
| D. | IBR |
| Answer» D. IBR | |
| 535. |
Deposits which can be withdrawn by a customer without notice is called ________ |
| A. | Time Deposits |
| B. | Demand Deposits |
| C. | Variable Deposits |
| D. | Low cost Deposits |
| Answer» C. Variable Deposits | |
| 536. |
Dalal Street in Mumbai is famous for which of the following? |
| A. | NABARD |
| B. | Stock Exchange |
| C. | RBI |
| D. | SEBI |
| Answer» C. RBI | |
| 537. |
The law regarding negotiable instruments is contained in __________ |
| A. | The Bill of exchange Act 1881 |
| B. | The Banking Regulation Act 1949 |
| C. | Cheques Act, 1881 |
| D. | The Negotiable Instruments Act, 1881 |
| Answer» E. | |
| 538. |
Banking Code & Standards Board of India(BCSBI) set up by ________ |
| A. | SEBI |
| B. | Ministry of Finance |
| C. | RBI |
| D. | GOI |
| Answer» D. GOI | |
| 539. |
Treasury bills are issued in India by ______ |
| A. | RBI |
| B. | State Government |
| C. | Government of India |
| D. | SEBI |
| Answer» D. SEBI | |
| 540. |
Scheduled banks are required to keep cash reserve with RBI, interms of _______ |
| A. | Section 24 of the Banking Regulation Act, 1949 |
| B. | Section 20 of the Banking Regulation Act, 1949 |
| C. | Section 42(i) of the RBI Act, 1934 |
| D. | Section 42 of Negotiable Instruments Act |
| Answer» D. Section 42 of Negotiable Instruments Act | |
| 541. |
An account which remains in operative for an extended period of time is referred as ________ |
| A. | DEMAT Account |
| B. | Dormant Account |
| C. | Nominal Account |
| D. | Deposit Account |
| Answer» C. Nominal Account | |
| 542. |
World Investment Report” is annually published by ______ |
| A. | IBRD |
| B. | WTO |
| C. | IMF |
| D. | UNCTAD |
| Answer» E. | |
| 543. |
“The Doing Business Report” is prepared by which of the following organizations every year? |
| A. | Asian Development Bank(ADB) |
| B. | World Bank(WB) |
| C. | New Development Bank(NDB) |
| D. | World Trade Organization(WTO) |
| Answer» C. New Development Bank(NDB) | |
| 544. |
Which of the following is not a measure of the Risk Management in Banks? |
| A. | CRR |
| B. | RTGS |
| C. | SLR |
| D. | Deposit Insurance |
| Answer» C. SLR | |
| 545. |
A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ |
| A. | Mortgage |
| B. | Reverse Mortgage |
| C. | Repossession |
| D. | Refinance |
| Answer» B. Reverse Mortgage | |
| 546. |
A commission or fee paid, when an agent or an individual sells an investment such as mutual funds or annuity is known as _________ |
| A. | Redemption fee |
| B. | Service Charge |
| C. | Regressive tax |
| D. | Sales tax |
| Answer» B. Service Charge | |
| 547. |
A cheque for a fixed amount that may be cashed or used in payment abroad after endorsement by the holder’s signature is known as ___________ |
| A. | Travellers cheque |
| B. | Multicity Cheque |
| C. | Mutilated Cheque |
| D. | Crossed Cheque |
| Answer» B. Multicity Cheque | |
| 548. |
Which of the following cheque issued by a customer under a pre-approved arrangement with the bank? |
| A. | Travellers cheque |
| B. | Multi-city Cheque |
| C. | Mutilated Cheque |
| D. | Crossed Cheque |
| Answer» C. Mutilated Cheque | |
| 549. |
A type of market in which there is a relatively high degree of concentration is referred as _____ |
| A. | Mortgage Refinance |
| B. | Oligopoly |
| C. | Near Money |
| D. | Open Economy |
| Answer» C. Near Money | |
| 550. |
A situation which is providing some relief from tax in whole or part is referred as _________ |
| A. | Tax Break |
| B. | Tax Evasion |
| C. | Tax Shifting |
| D. | None of the Above |
| Answer» B. Tax Evasion | |