3653 + Mcqs in General Awareness Page 72 McqOptions

3551.	Which of the following is not viewed as a national debt? [IBPS 2015]
A.	Provident Fund
B.	Life Insurance Policies
C.	National Saving Certificate
D.	Long-term Government Bonds
Answer» D. Long-term Government Bonds

Discussion

3552.	These are the reserves that are held by Commercial Banks over and above the statutory minimum with the central bank. [SBI 2014]
A.	Excess reserves
B.	Cash reserves
C.	Deposit reserves
D.	Momentary reserves
Answer» C. Deposit reserves

Discussion

3553.	What is the maximum period for which domestic term deposits are normally accepted by banks in our country? [SBI 2014]
A.	3 years
B.	5 years
C.	7 years
D.	10 years
Answer» E.

Discussion

3554.	What is the minimum period for which a fixed deposit can be opened in India? [IBPS 2014]
A.	3 days
B.	7 days
C.	15 days
D.	30 days
Answer» C. 15 days

Discussion

3555.	Loan and Advances of a bank come under the category of.___. [IBPS Main 2016]
A.	Deposits
B.	Expenditure
C.	Liabilities
D.	Assets
Answer» E.

Discussion

3556.	The lock-in period in case of a term deposit means - [IBPS Main 2016]
A.	Locker service is not available
B.	Premature withdrawal is not possible
C.	Another account cannot be opened
D.	No further investment is possible
Answer» C. Another account cannot be opened

Discussion

3557.	Name the department that was set up by Union Finance Ministry to streamline government borrowings and better cash management with the overall objective of deepening bond markets. [IBPS Main 2016]
A.	Debt Management Cell
B.	Department of Debt Management
C.	Cell for management of debt
D.	All of the above
Answer» B. Department of Debt Management

Discussion

3558.	All bank loans, including home loans, taken are now linked to the bank's marginal cost of funds based lending rate (MCLR). MCLR has effective from? [IBPS Main 2016]
A.	42370
B.	42248
C.	42095
D.	42461
Answer» E.

Discussion

3559.	Basic Savings Bank Deposit Account (BSBDA) is a Zero Balance Savings Account that takes care of your simple banking needs with Free ATM card, monthly statement, and cheque book. How much amount has withdrawal and transfer limit under BSBDA? [IBPS Main 2016]
A.	Rs. 1,00,000 per month
B.	Rs. 20,000 per month
C.	Rs. 50,000 per year
D.	Rs. 10,000 per month
Answer» E.

Discussion

3560.	In the Balance of Payment (BOP), the transfer of payment is included in which of the following? [SBI Main 2015]
A.	Current Account
B.	Capital Account
C.	Savings Accounts under Govt. Schemes
D.	Official Reserve Accounts
Answer» B. Capital Account

Discussion

3561.	As reported in some major financial newspapers, many times it is said that "Other Income" boosts the profit of a bank to a substantial level. What is this other income for a bank? Pick up the option(s) which are the part(s) of this other income. [RBI Assistant 2015] (1) Commission for selling insurance policies (2) Fee for providing various services (like ATM/Extra cheque etc) (3) Interest on advances and loans
A.	Only (1)
B.	Only (2)
C.	Both (1) & (2)
D.	Only (3)
Answer» D. Only (3)

Discussion

3562.	The arrangement under which banks sell insurance products acting as the agents of the respective companies is called the [IBPS Bank 2013]
A.	Insurance joint venture
B.	Bancassurance Model
C.	Hybrid Insurance Model
D.	Insurance Broking
Answer» C. Hybrid Insurance Model

Discussion

3563.	Which one of the following is a retail banking product? [IBPS 2012]
A.	Home Loans
B.	Working capital finance
C.	Corporate term loans
D.	Infrastructure financing
Answer» C. Corporate term loans

Discussion

3564.	Which one of the following is not a 'Money Market Instrument'? [IBPS 2012]
A.	Treasury Bills
B.	Commercial Paper
C.	Certificate of Deposit
D.	Equity Shares
Answer» E.

Discussion

3565.	The arrangement under which banks sell insurance products acting as the agents of the respective companies is called the [IBPS 2013]
A.	Insurance joint venture
B.	Bancassurance Model
C.	Hybrid Insurance Model
D.	Insurance Broking
Answer» C. Hybrid Insurance Model

Discussion

3566.	Which of the following schemes is launched specifically for helping senior citizens to avail loan by mortgage of their residential property? Indian Overseas Bank 2011]
A.	English Mortgage Scheme
B.	Senior Capital loan Scheme
C.	Reverse Mortgage Loan scheme
D.	Senior Citizen Personal Loan scheme
Answer» D. Senior Citizen Personal Loan scheme

Discussion

3567.	Which of the following types of accounts are known as 'Demat Accounts'? [IBPS 2011]
A.	Accounts which are Zero Balance Accounts
B.	Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there.
C.	Accounts in which shares of various companies are traded in electronic form
D.	Accounts which are operated through internet banking facility
Answer» D. Accounts which are operated through internet banking facility

Discussion

3568.	Since acceptance of deposits and granting of loans are the two general functions of a bank, the relationship arising out of these two main activities is known as
A.	principal and agent relationship
B.	financer and financee relationship
C.	bailor and bailee relationship
D.	general relationship
Answer» E.

Discussion

3569.	An unsecured loan extended by one corporate to another is called
A.	commercial papers
B.	treasury bill
C.	inter-corporate deposits
D.	certificates of deposits
Answer» D. certificates of deposits

Discussion

3570.	Which of the following aspects are outlined by the loan policy of a bank?
A.	Rating standards
B.	Lending procedures
C.	Financial covenants
D.	All of the above
Answer» E.

Discussion

3571.	Term deposits, which are payable only after the expiry of the specified period, are also called
A.	time deposits
B.	demand deposits
C.	current deposits
D.	short credit
Answer» B. demand deposits

Discussion

3572.	Which of the following means of lending is considered as a priority sector loan?
A.	Loan for purchase of gold for marriage of daughter
B.	Car loan
C.	Housing loan
D.	Loan for purchase of tractor
Answer» E.

Discussion

3573.	Which of the following is the correct definition of the term commercial papers? I. It is nothing but the popular name of the judicial stamp papers used to register financial transactions. II. It is one of the instruments through which corporates raise debt from the market. III. It is the name of the 'Certificate of Deposits' (CD) provided by the bank to its retail customers. Select the correct answer using the codes given below:
A.	Only I
B.	Only II
C.	Only III
D.	Both I and II
Answer» C. Only III

Discussion

3574.	As per guidelines of Reserve Bank of India, a new private sector bank
A.	shall be subject to prudential norms in regard to income recognition, asset classification and provisioning, capital adequacy, etc.
B.	shall have to observe priority sector lending targets as applicable to other domestic banks
C.	will be required to open rural and semi- urban branches
D.	All of the above
Answer» E.

Discussion

3575.	Which of the following is not considered as negotiable instrument under the Negotiable Instruments Act, 1881?
A.	Bill of Exchange
B.	Promissory Note
C.	Share Certificate
D.	Cheque Payable to Bearer
Answer» E.

Discussion

3576.	A Bill of Exchange in which a bank orders its branch or another bank, as the case may be, to pay a specified amount to a specified person or to the order of the specified person is called
A.	cheque
B.	bank draft
C.	promissory note
D.	insurance
Answer» D. insurance

Discussion

3577.	The right to retain possession only of those goods in respect of which the dues have arisen is called
A.	particular lien
B.	general lien
C.	right of set off
D.	All of these
Answer» B. general lien

Discussion

3578.	Bridge loans refer to
A.	loans granted to construction companies for construction of bridges
B.	loan granted to PWD for construction of bridges over rivers
C.	interim finance allowed by banks to their customers, pending disbursement of term loans by financial institutions
D.	loan granted to railway for construction of bridges
Answer» D. loan granted to railway for construction of bridges

Discussion

3579.	Which of the following statements is/are correct about an overdraft? i. It is issued against security in current account. ii. The borrower is given the facility of borrowing only as much as he requires.
A.	(i) only
B.	(ii) only
C.	Both (i) and (ii)
D.	None of these
Answer» B. (ii) only

Discussion

3580.	Which of the following is a payment and settlement system used by the banks in India?
A.	Liquidity adjustment facility
B.	Real time gross settlement
C.	Forward rate agreements
D.	Central depository service
Answer» C. Forward rate agreements

Discussion

3581.	Which of the following provides information about economic position of its customers to traders?
A.	Letters of references
B.	KYC forms
C.	Bank letters
D.	both [a] and [c]
Answer» B. KYC forms

Discussion

3582.	In bank's parlance, credit risk in lending is
A.	default of the banker to maintain CRR
B.	default of the banker to maintain SLR
C.	default of the banker to release credit to the customer
D.	default of the customer to repay the loan
Answer» E.

Discussion

3583.	Which of the following schemes is launched specifically for helping senior citizens to avail loan by mortgage of their residential property?
A.	English Mortgage Scheme
B.	Senior Capital Loan Scheme
C.	Reverse Mortgage Loan Scheme
D.	Senior Citizen Personal Loan Scheme
Answer» D. Senior Citizen Personal Loan Scheme

Discussion

3584.	As reported in various newspapers, many banks have revised their interest rates on home loans, car loans and other such Credit Functions of Banks loans. Which of the following phenomenon prompted these banks to make such an upward revision in their interest rates? I. RBI has revised the CRR and other such rates upward, which has created a liquidity crunch in the market. II. Stock markets in the country are showing very high fluctuations as visible through their indexes. As a result, banks have lost a huge amount of money in-trading. Banks now want to recover that money by increasing their interest rates. III. Banks are in need of a huge amount of money, as they have to give revised pay to all its employees. Select the correct answer using the codes given below
A.	Only I
B.	Only II
C.	Only III
D.	All of these
Answer» B. Only II

Discussion

3585.	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.	a bank deposit scheme exclusively for employees for insurance companies
Answer» D. a bank deposit scheme exclusively for employees for insurance companies

Discussion

3586.	Coin of which of the following denominations is called Small Coin? [RBI Assistant 2012]
A.	Rs. 1
B.	Rs. 2
C.	Rs. 5
D.	50 paise
Answer» E.

Discussion

3587.	The Society for Worldwide Interbank Financial Telecommunication (SWIFT) [RBI Grade B 2013]
A.	was registered as a company in Belgium
B.	is a bank owned non-profit cooperative society
C.	became operational in May, 1977
D.	All of the above
Answer» E.

Discussion

3588.	Which bank has launched India's G-Secs facility to retail customers via ATMs? (SBI2016)
A.	IDBI
B.	ICICI
C.	SBI
D.	HDFC
Answer» B. ICICI

Discussion

3589.	Which of the following is not a prerequisite for a promissory note? (Vijaya Bank 2008)
A.	Drawn on a specified banker
B.	It should be unconditional
C.	It should be in writing
D.	It should be made and signed by the debtor
Answer» B. It should be unconditional

Discussion

3590.	What is the full form of NBFC as used in the financial sector? (SBI 2015)
A.	New Banking Finance Company
B.	National Banking & Finance Corporation
C.	Non Business Fund Company
D.	New Business Finance & Credit
Answer» C. Non Business Fund Company

Discussion

3591.	When a bank returns a cheque unpaid, it is called [IBPS 2011]
A.	payment of the cheque
B.	drawing of the cheque
C.	cancelling of the cheque
D.	dishonor of the cheque
Answer» E.

Discussion

3592.	Whenever some people wish to enter into the business world, it is a must for them to approach a bank. What services do banks provide them in this regard? [Syndicate 2010] (1) Banks act as payment agents by operating current accounts, paying cheques and receiving payments for them. (2) Maintaining account books for them for their day-to-day activities so that they are not required to appoint account/finance personnel on a regular basis. (3) Lending money by way of overdraft, instalment loan, credit or advance for business activities
A.	Only (1)
B.	Only (2)
C.	Only (3)
D.	Only (1) & (3)
Answer» E.

Discussion

3593.	The Reserve Bank of India (RBI) will start five-city trials of a new polymer-based Rs. 10 banknote. These cities are?
A.	Kochi, Patna, Delhi, Ahmedabad and Chennai
B.	Jaipur, Shimla, Delhi, Patna and Mimbai
C.	Mumbai, Shimla, Jaipur, Patna and Chennai
D.	Kochi, Mysore, Jaipur, Bhubhaneswar and Shimla
Answer» E.

Discussion

3594.	The apex body which deals with refinance for agriculture and rural development in India is:
A.	NABARD
B.	SEBI
C.	SIDBI
D.	IDBI
Answer» B. SEBI

Discussion

3595.	Two new Savings Bank products for children namely Tehia Kadam' and 'Pehli Udaan' have been launched by
A.	State Bank of India
B.	United Bank of India
C.	Axis Bank
D.	ICICI Bank
Answer» B. United Bank of India

Discussion

3596.	Which private sector bank during the second week of January 2017 blocked transactions on digital payments app PhonePe, accusing it of breaking the UPI guidelines of interoperability?
A.	HDFC Bank
B.	SBI Bank
C.	ICICI Bank
D.	Canara Bank
Answer» D. Canara Bank

Discussion

3597.	Who was appointed the first head of India INX, India's first international exchange?
A.	V. Balasubramanian
B.	Ashish Chauhan
C.	J. Ravichandran
D.	Amit Santra
Answer» B. Ashish Chauhan

Discussion

3598.	Who was given the charge of the task force set up by the RBI on 14 November 2016 to oversee the recalibration of ATM machines as the government introduced new Rs. 500 and Rs. 2,000 notes?
A.	BP Kanungo
B.	S.S. Mundra
C.	Urjit Patel
D.	Viral Acharya
Answer» C. Urjit Patel

Discussion

3599.	What is the interest rate under the Varishtha Pension Bima Yojana (VPBY) 2017, the senior citizen pension plan that was approved by the Union Cabinet on 24 January 2017?
A.	0.0825
B.	0.075
C.	0.08
D.	0.0775
Answer» D. 0.0775

Discussion

3600.	The Union Government on 24 January 2017 approved how much interest subsidy on loans of up to Rs. 2 lakh for all households which are not covered under Pradhan Mantri Aawas Yojana (Grameen)?
A.	0.03
B.	0.04
C.	0.05
D.	0.06
Answer» B. 0.04

Discussion

Explore topic-wise MCQs in Banking And Financial Awareness.

Which of the following is not viewed as a national debt? [IBPS 2015]

These are the reserves that are held by Commercial Banks over and above the statutory minimum with the central bank. [SBI 2014]

What is the maximum period for which domestic term deposits are normally accepted by banks in our country? [SBI 2014]

What is the minimum period for which a fixed deposit can be opened in India? [IBPS 2014]

Loan and Advances of a bank come under the category of.___. [IBPS Main 2016]

The lock-in period in case of a term deposit means - [IBPS Main 2016]

Name the department that was set up by Union Finance Ministry to streamline government borrowings and better cash management with the overall objective of deepening bond markets. [IBPS Main 2016]

All bank loans, including home loans, taken are now linked to the bank's marginal cost of funds based lending rate (MCLR). MCLR has effective from? [IBPS Main 2016]

Basic Savings Bank Deposit Account (BSBDA) is a Zero Balance Savings Account that takes care of your simple banking needs with Free ATM card, monthly statement, and cheque book. How much amount has withdrawal and transfer limit under BSBDA? [IBPS Main 2016]

In the Balance of Payment (BOP), the transfer of payment is included in which of the following? [SBI Main 2015]

The arrangement under which banks sell insurance products acting as the agents of the respective companies is called the [IBPS Bank 2013]

Which one of the following is a retail banking product? [IBPS 2012]

Which one of the following is not a 'Money Market Instrument'? [IBPS 2012]

The arrangement under which banks sell insurance products acting as the agents of the respective companies is called the [IBPS 2013]

Which of the following schemes is launched specifically for helping senior citizens to avail loan by mortgage of their residential property? Indian Overseas Bank 2011]

Which of the following types of accounts are known as 'Demat Accounts'? [IBPS 2011]

Since acceptance of deposits and granting of loans are the two general functions of a bank, the relationship arising out of these two main activities is known as

An unsecured loan extended by one corporate to another is called

Which of the following aspects are outlined by the loan policy of a bank?

Term deposits, which are payable only after the expiry of the specified period, are also called

Which of the following means of lending is considered as a priority sector loan?

As per guidelines of Reserve Bank of India, a new private sector bank

Which of the following is not considered as negotiable instrument under the Negotiable Instruments Act, 1881?

A Bill of Exchange in which a bank orders its branch or another bank, as the case may be, to pay a specified amount to a specified person or to the order of the specified person is called

The right to retain possession only of those goods in respect of which the dues have arisen is called

Bridge loans refer to

Which of the following statements is/are correct about an overdraft? i. It is issued against security in current account. ii. The borrower is given the facility of borrowing only as much as he requires.

Which of the following is a payment and settlement system used by the banks in India?

Which of the following provides information about economic position of its customers to traders?

In bank's parlance, credit risk in lending is

Which of the following schemes is launched specifically for helping senior citizens to avail loan by mortgage of their residential property?

Bancassurance is

Coin of which of the following denominations is called Small Coin? [RBI Assistant 2012]

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) [RBI Grade B 2013]

Which bank has launched India's G-Secs facility to retail customers via ATMs? (SBI2016)

Which of the following is not a prerequisite for a promissory note? (Vijaya Bank 2008)

What is the full form of NBFC as used in the financial sector? (SBI 2015)

When a bank returns a cheque unpaid, it is called [IBPS 2011]

The Reserve Bank of India (RBI) will start five-city trials of a new polymer-based Rs. 10 banknote. These cities are?

The apex body which deals with refinance for agriculture and rural development in India is:

Two new Savings Bank products for children namely Tehia Kadam' and 'Pehli Udaan' have been launched by

Which private sector bank during the second week of January 2017 blocked transactions on digital payments app PhonePe, accusing it of breaking the UPI guidelines of interoperability?

Who was appointed the first head of India INX, India's first international exchange?

Who was given the charge of the task force set up by the RBI on 14 November 2016 to oversee the recalibration of ATM machines as the government introduced new Rs. 500 and Rs. 2,000 notes?

What is the interest rate under the Varishtha Pension Bima Yojana (VPBY) 2017, the senior citizen pension plan that was approved by the Union Cabinet on 24 January 2017?

The Union Government on 24 January 2017 approved how much interest subsidy on loans of up to Rs. 2 lakh for all households which are not covered under Pradhan Mantri Aawas Yojana (Grameen)?