By Murugan Sir :
Answer the following questions regarding Sukanya Samriddhi Yojana
1. SSY can be opened for ...... (i) Your girl child, (ii) Your boy child, (iii) your adopted girl child
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
2. Pre-Mature Withdrawal of up to 50% of the amount is allowed after the account holder turns ...... for the requirement of ......
a. 18 year, marriage
b. 18 year, marriage or higher education
c. 21 year, marriage
d. 21 year, marriage or higher education
3. ...... on this account is also exempted from income tax. (i) Interest, (ii) Maturity amount
a. Only (i)
b. Only (ii)
c. Either (i) or (ii)
d. Both (i) and (ii)
4. How many number of deposits permitted in a year? (i) No fixed number of deposits, (ii) The depositor can deposit a multiple of Rs 100 through out the year, (iii) Maximum 12 number of deposits in a year
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
5. The account is limited for ...... of the parents
a. 1 Girl Child
b. 2 Girl Children
c. 3 Girl Children
d. 2 girl children or 3 in case of twin girls as second birth or the first birth itself results in 3 girl children
6. After the maturity Period, you will get the interest rate of ......
a. Savings Deposit
b. 6%
c. 7%
d. No interest
7. List of documents required for opening a SSY Account are ...... (i) Certificate of Birth of the Girl child, (ii) Proof of Address of parents/guardians, (iii) Proof of identity of the parents/guardian
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
8. SSY account can be opened under the name of the girl child, till she attains an age of ......
a. 10 years
b. 11 years
c. 12 years
d. 14 years
9. The maximum limit for deposits in the SSY account is Rs. ...... per year
a. 1,00,000
b. 1,50,000
c. 2,00,000
d. No limit
10. The maturity duration of the account is ...... from the date of opening the account
a. 10 years
b. 14 years
c. 21 years
d. 25 years
11. Maximum period upto which deposits can be made is ...... from the date of opening of the account
a. 10 years
b. 14 years
c. 21 years
d. 25 years
Answers :
1-b, 2-b, 3-d, 4-a, 5-d, 6-d, 7-d, 8-a, 9-b, 10-c, 11-b
Bharat QR - A QR code consists of black squares arranged in a square grid on a white background, which can be read by an imaging device such as a camera.
QR contains information about the item to which it is attached.
Answer the following questions regarding Bharat QR.
1. Bharat QR is ...... Mobile payment solution
a. P2P (Person to Person)
b. P2M (Person to Merchant)
c. M2P (Merchant to Person)
d. M2M (Merchant to Merchant)
2. Bharat QR is mutually derived among ...... payment networks. (i) NPCI, (ii) Visa, (iii) Mastercard
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
3. What are the charges for using Bharat QR?
a. No additional charges for making transaction through Bharat QR
b. Depends on the Bank
c. Depends on the App
d. Depends upon the transaction amount
4. Can multiple bank cards be linked on same App?
a. No. Multiple cards can't be linked in a single app
b. Yes. Multiple cards of multiple banks can be linked in a single app
c. Yes. Multiple cards of the same bank can be linked in a single app
d. None of the above
5. First factor of 2FA for Bharat QR is MPIN for the mobile application login. Second factor is taken as ...... (i) MPIN, (ii) OTP, (iii) ATM pin
a. Only (i) or (ii)
b. Only (i) or (iii)
c. Only (ii) or (iii)
d. (i) or (ii) or (iii)
6. What is the Daily transaction limit?
a. Rs. 10000
b. Rs. 20000
c. Rs. 50000
d. Set at Bank’s end
7. How many Bharat QR transactions can be done in a day?
a. 25
b. There is no limit on number of transactions
c. There is no limit on number of transactions but subject to daily transaction amount limits on your Debit/Credit Cards
d. Set at Bank's end
Answers :
1-b, 2-d, 3-a, 4-c, 5-d, 6-d, 7-c
Retail Banking-Case Study on Credit Card
Mr X has been enjoying a credit card from ABC Bank. The bank has fixed a spending limit of Rs. 200000 lac on his card. During July 2016, he made purchase of Rs. 150000 and paid on due date (10 Aug 2016) Rs. 120000 being a part of the outstanding amount of Rs. 150000. On 11 Aug 2016, he made additional purchase of Rs. 70000. Rate of interest charged by bank is 2 % per month.
Answer the following questions
01. What would be the minimum payment requirement on credit card dues during any month?
a. 3% of due
b. 5% of due
c. 8% of due
d. 10% of due
02. As the bank charges interest at 2% per month, what would be the annual effective rate to the user?
a. 24.52%
b. 26.82%
c. 27.92%
d. 28.64%
03. Daily interest charged on outstanding balance as on 11 Aug 2016 will be ......
a. Rs.60.50
b. Rs.65.75
c. Rs.70.10
d. Rs.75.25
04. Total interest Charged on 10 Sep 2016 will be ......
a. Rs.1865
b. Rs.1908
c. Rs.1973
d. Rs.2036
Ans - c
05. If Mr A wants to clear all his dues on the due date on 10 Sept 2016, what amount would be required to pay ......
a. Rs.30000
b. Rs.70000
c. Rs.100000
d. Rs.101913
Solution
1-b
Minimum payment require 5%
2-b
Effective interest rate=(1+r)^n-1
= (1+0.02)^12-1
= 1.26824-1
= 0.26824
= 26.82%
3-b
Daily interest charged=Due outstanding*12/365*r
=(30000+70000)*12/365*0.02
=100000*12*.02/365
=24000/365
=65.75
4-c
Total interest charged= no of days outstanding * Daily interest
From 11 Jul 2016 to 10 Aug 2016 = 30 days
=30*65.75
=1973
5-d
outstanding amount+additional purchase+interest
= 30000+70000+1973
= 101973
Based on the following information/data answer the questions
Land Area Sq.mt - 725
Total Built-up area Sq.mt - 325
Permissible FSI - 1
Rate of construction cost per sq.mt - Rs. 5000
Rate of land cost per sq.mt - Rs. 2000
Desired yield - 9%
Usable Carpet area sq.mt - 250
Monthly rent on carpet area basis per sq.mt - Rs. 50
Usable outgoing (Assuming 1/6 of the yield)
01. The total cost of Construction is ......
a. Rs. 975000
b. Rs. 1500000
c. Rs. 2525000
d. Rs. 2275000
02. The encumbrance factor is ......
a. 0.833
b. 1.075
c. 0.75
d. 0.66
03. Desired yield is ......
a. RS. 87750
b. RS. 204750
c. RS. 135000
d. None of the above
04. The net Annual yield is ......
a. RS. 125000
b. RS. 150000
c. RS. 225000
d. None of the above
05. What will be the usable FSI?
a. 328 Sq. meters
b. 450 Sq. meters
c. 400 Sq. meters
d. 475 Sq. meters
Solution
1-d
Cost of construction = 325 x 5000 = 1625000
Cost of FSI used = 325 x 2000 = 650000
Total cost = 2275000
2-a
Estimated Yield = 50 x 250 x 12 = 150000
Usual outgoings = 1/6 of yield = 150000/6 = 25000
Net annual yield = 125000
Hence, encumbrance factor Net Annual yield/Estimated yield
= 125000/150000 = 0.833
3-b
Desired Yield = Total cost*%desired rate of return
=2275000 x 0.09
=204750
4-a
Estimated Yield = monthly rent on carpet area*usable carpet area*month
50 x 250 x 12 = 150000
Usual outgoings = 1/6 of yield = 150000/6 = 25000
Net annual yield=Estimated yield-usual out going
=150000-25000
=125000
5-c
Usable FSI = Land area-Total builtup area
725 - 325
= 400 Sq meter
Solution
1-d
Cost of construction = 325 x 5000 = 1625000
Cost of FSI used = 325 x 2000 = 650000
Total cost = 2275000
2-a
Estimated Yield = 50 x 250 x 12 = 150000
Usual outgoings = 1/6 of yield = 150000/6 = 25000
Net annual yield = 125000
Hence, encumbrance factor Net Annual yield/Estimated yield
= 125000/150000 = 0.833
3-b
Desired Yield = Total cost*%desired rate of return
=2275000 x 0.09
=204750
4-a
Estimated Yield = monthly rent on carpet area*usable carpet area*month
50 x 250 x 12 = 150000
Usual outgoings = 1/6 of yield = 150000/6 = 25000
Net annual yield=Estimated yield-usual out going
=150000-25000
=125000
5-c
Usable FSI = Land area-Total builtup area
725 - 325
= 400 Sq meter
Solution
1-b
Minimum payment require 5%
2-b
Effective interest rate=(1+r)^n-1
= (1+0.02)^12-1
= 1.26824-1
= 0.26824
= 26.82%
3-b
Daily interest charged=Due outstanding*12/365*r
=(30000+70000)*12/365*0.02
=100000*12*.02/365
=24000/365
=65.75
4-c
Total interest charged= no of days outstanding * Daily interest
From 11 Jul 2016 to 10 Aug 2016 = 30 days
=30*65.75
=1973
5-d
outstanding amount+additional purchase+interest
= 30000+70000+1973
= 101973
Answers :
1-b, 2-d, 3-a, 4-c, 5-d, 6-d, 7-c
Answers :
1-b, 2-b, 3-d, 4-a, 5-d, 6-d, 7-d, 8-a, 9-b, 10-c, 11-b
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