BANKING AWARENESS MCQ
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,1. Alice Vaidyan is the Chairman and Managing Director of which of the following Insurance Companies?
a) New India Assurance
b) Life Insurance Corporation
c) Birla Sun Life Insurance Co. Ltd.
d) National Insurance Company
e) General Insurance Corporation of India
2. Prepayment charges are exempted for:
a) Housing Loans
b) Education Loans
c) Agri. Loans
d) Corporate Loans
e) a, b & c
3. Minimum and Maximum period of Certificate of Deposits:
a) 15 days & 1 year
b) 30 days & 1 year
c) 7 days & 1 year
d) 7 days & no limit
e) None
4. The Reserve Bank established which board to encourage transparency in lending and fair pricing and customer servicing?
a) Board of Financial Supervision (BFS)
b) Banking Ombudsman
c) Banking Codes and Standards Board of India
d) Deposit Insurance and Credit Guarantee Corporation
e) All of the Above
5. In strategic alliance, the alliance partners:
a) Merge with each other
b) One partner acquires the other
c) Remain separate entities
d) It is a type of convertion
e) None of the above
6. Maximum SLR to be maintained by banks is:
a) 50% of Net Demand and Time Liabilities (NDTL)
b) 40% Net Demand and Time Liabilities
c) 30% Net Demand and Time Liabilities
d) 60% Net Demand and Time Liabilities
e) None of the above
7. With regard to nomination to Illiterate account, which of the following statement is correct?
a) Can extend in favour of literate only
b) Nomination facility is not available
c) Consent from Nominee is required
d) Witness is a must
e) None
8. Acustomer is entitled to get a duplicate DD in place of the lost one, provided:
a) He gives due intimation to the issuing branch
b) Payment of DD not already made by the drawer branch
c) Execution of an indemnity Bond
d) All of the above
e) a and b
9. Bank stakeholders include:
a) Shareholders
b) Customers
c) Employees
d) a & b only
e) a, b, c
10. Agency which purchases NPA from banks is called:
a) Asset Management Company
b) Assets Reconstruction Company
c) Consolidation Company
d) Financial Reconstruction Company
e) None of the above
11. Working capital means:
a) Capital Requirements for the day-to-day transactions
b) Excess of current assets over current liabilities
c) Fixed assets - Current assets
d) None of above
e) b and c
12. E.P.S. in share market stands for:
a) Earnings Per Share
b) Electronic Payment System
c) Employee Pension Scroll
d) Equated Payment System
e) None of these
13. Housing Loans granted to individuals up to Rs.___ for construction of houses (excluding loans
granted by banks to their employees) are treated as priority sector advances:
a) 1 lakh
b) 10 lakhs
c) 25 lakhs
d) 20 lakhs
e) 15 lakhs
14. When the contents of the Negotiable Instrument are modified by the drawer, it is treated as:
a) Forgery
b) Fraud
c) Material alteration
d) Suppression of facts
e) None
15. Operational risk is the risk of loss arising from various types of:
a) Human error
b) Failed systems and procedures in the bank
c) Breakdown in internal controls
d) All of the above
e) a and b
16. Exercise of nomination by the depositor is:
a) Optional to the depositor
b) Mandatory in case of single named accounts
c) Mandatory in case of joint accounts
d) Mandatory for locker accounts
e) None
17. Which of the following statements is not correct with regard to Tax Saver Scheme of Banks?
a) Tax exemption is available for the deposit amount under section 80C of IT Act
b) Period of deposit is allowed up to 5 Years
c) TDS is applicable, if interest payment is above Rs.10,000 in a financial year
d) Maximum amount of deposit allowed is Rs. 5 Lakhs
e) c & d
18. What is the total Priority Sector Lending target for Foreign banks with 20 branches and above to
be increased to ____ by 2018?
a) 32 %
b) 34 %
c) 36 %
d) 40 %
e) None of the above
19. No security is required for obtaining Educational Loan up to an amount of:
a) Rs.4.0 lakhs
b) Rs.3.5 lakhs
c) Rs.5.5 lakhs
d) Rs.6.5 lakhs
e) Rs.7.5 lakhs
20. EEFC a/c means:
a) Exchange Earnings Foreign Currency a/c
b) Exchange Earnest Foreign Currency a/c
c) Exchange Earners Foreign Currency a/c
d) Exchange Equated Foreign Currency a/c
e) None of these
ANSWERS:
1) e 2) e 3) c 4) c 5) c 6) b 7) d 8) c 9) e 10) b
11) a 12) a 13) c 14) c 15) d 16) a 17) d 18) d 19) a 20) c
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