BANKING MATERIALS: Banking Quiz

Q1. BCSBI was set up to ensure that the common person as a consumer of financial services from the banking Industry is in no way at a disadvantageous position and really gets what he/she has been promised. BCSBI stands for-?

(a) Branch Codes and Standards Board of India

(b) Banking Codes and Stability Board of India

(c) Banking Codes and Standards Bank of Industry

(d) Banking Codes and Society Board of Investment

(e) Banking Codes and Standards Board of India

Q2. When was the currency system in India converted into the decimal system?

(a) April 01st 1959

(b) April 01st 1957

(c) April 01st 1955

(d) April 01st 1953

(e) April 01st 1951

BANKING MATERIAL: MCQ COLLECTION

Important MCQs

1. Many times we read in newspapers that several companies are adopting the FCCBs route to

raise capital. What is the full form of FCCBs?

(1) Foreign Currency Convertible Bonds

(2) Foreign Convertible Credit Bonds

(3) Financial Consortium and Credit Bureau

(4) Future Credit and Currency Bureau

(5) None of these

Ans: 1

Banking Quiz : Banking Awareness Quiz For SBI Clerk

Banking Awareness Quiz For SBI Clerk
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
1. Savings bank accounts are opened by ______
1) Individuals for savings purposes
2) Limited Companies and Partnerships for Savings purposes
3) Traders and Manufactures for business purposes
4) Co-operative banks for savings
5) None of these
2.Which of the following is not a component of India's Securities Market ?
1) Corporate Equity
2) Derivatives on Currency
3) Government Bonds
4) Commodity Futures
5) None of these
3. Gilt - edged market means _____
1) Market of govt. securities
2) Bull market
3) Market of guns
4) Market of pure metals
5) None of these
4. On which one of the following issues can SEBI penalize any company in India ____
I) Violation of Banking Regulation Act.
II) Violation of Foreign Portfolio of Investment guidelines.
III) For violation of Negotiable Instrument Act.
1) Only II
2) Only I
3) Both I and II
4) Both II and III
5) None of these
5. Resident foreign currency account can open only for-
1) Public Sector Banks
2) Scheduled Commercial Banks
3) Private Sector Banks
4) Regional Rural Banks
5) None of these
6. The full form of SPNS is-
1) Sharing process network system
2) Shared payment network system
3) Shared procedural network system
4) Shortest possible networking system
5) None of these
7. Union government approved the constitution of the 7th pay commission. Its recommendations are likely to be implemented with effect from January 1, 2016. Who has been appointed as Chairman of the Commission ?
1) Ashok Kumar Mathur
2) Srinivasa Varadachariar
3) B. N. Srikrishna
4) Ashok Jain
5) None of these
8.Which is the full form of the abbreviation IFRS as used in corporate/financial sector ?
1) International Financial Reporting Standards
2) Indian Financial Reconciliation Standards
3) International and Formal Reporting System
4) Indian Formal Reporting System
5) None of these
9.What is the maximum balance amount that is eligible for earning interest in a Normal savings bank account ?
1) Rs 2.5 Lakh
2) Rs 3.5 Lakh
3) Rs 2 Lakh
4) No limit
5) None of these
10.Which of the following is not a primary function of a bank ?
1) Facilitating import of goods
2) Issuing Bank Drafts
3) Granting Loans
4) Selling Gold / Silver Coins
5) None of these
Answers ::
1-1
2-2
3-1
4-4
5-2
6-2
7-1
8-1
9-4
10-1

Banking Quiz : Some Fact Questions About RBI

Some Fact Questions About RBI 
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
1. When did Reserve Bank of India (RBI) formed?
Answer: 1935 april 1
2. When did Reserve Bank of India (RBI) Nationalised ?
Answer: 1949
3. Where was the first Headquarters of Reserve Bank of India (RBI) ?
Answer: Kolkata
4. When did the Headquarters of Reserve Bank of India (RBI) moved to Mumbai ?
Answer: 1937
5. Who was the First Reserve Bank of India (RBI) Governor ?
Answer: Sir Osborne Smith
6. Who was the first Indian RBI Governor ?
Answer: C.D.Deshmukh
* 7. Which Commission recommended the formation of Reserve Bank of India (RBI) ?
Answer: Hilton Young Commission (Royal commission)
* 8. Which is the central bank in India ?
Answer: RBI
* 9. Which bank is known as Banker's Bank ?
Answer: Reserve Bank of India (RBI)
* 10. Who introduced the Banking Ombudsman Scheme ?
Answer: Reserve Bank of India

Banking Quiz : Part-3

Banking Awareness
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
1. As per SEBI guidelines, in a Book Building process the cap in the price band:
a) Should be at least 10% of the floor price
b) Should not be more than 20% of the floor price
c) No limits
d) a and c
e) None
2. The targets and sub-targets set under priority sector lending (PSL) for all scheduled commercial banks are calculated on ___
a) Adjusted Net Bank Credit [ANBC]
b) Credit Equivalent Amount of Off - Balance Sheet Exposure
c) Either Adjusted Net Bank Credit [ANBC] or Credit Equivalent Amount of Off - Balance Sheet Exposure
d) Adjusted Net Bank Credit [ANBC] or Credit Equivalent Amount of Off - Balance Sheet Exposure, whichever is higher
e) All of the Above
3. When banks give home loans, the nature of charge created is:
a) Hypothecation
b) Mortgage
c) Assignment
d) Pledge
e) None
4. Depositories hold securities in which of the following forms?
i. Demat, ii. Physical
a) Only (i)
b) Only (ii)
c) Either (i) or (ii)
d) Both (i) and (ii)
e) None
5. The nature of charge created while advancing against LIC policies is:
a) Assignment
b) Lien
c) Pledge
d) Set-off
e) a and b
6. Universal Banking means____
a) International Banking
b) Wholesale Banking
c) Offering multiple Financial Products
d) All of the above
e) a and b
7. In Core banking system:
a) Branches are connected to a central host
b) Branch automation modules and delivery channels are incorporated
c) Transactions are done centrally and online
d) All of the above
e) a and b
8. Cheque truncation can be done by:
a) Using MICR data
b) Using electronic image of the cheque and processing it at CTS centre
c) Using data processing
d) a & b
e) None
9. RBI acts as the Banker to the___ Governments:
i. Central ii. State
a) Only (i)
b) Only (ii)
c) Either (i) or (ii)
d) Both (i) and (ii)
e) None of the above
10. The committee which has recommended for establishment of data warehouse is:
a) Vasudevan Committee
b) Rangarajan Committee
c) Saraf Committee
d) Shere Committee
e) b and c
11. Which of the following does not match?
a) Regulator of insurance market –IRDA
b) Regulator of capital market– SEBI
c) Regulator of money market– RBI
d) Regulator of forex market– SEBI
e) All of the Above
12. This gives added value to products(is part of the product) in an attempt to augment their products
with values and associations that are recognised by and are meaningful to their customers:
a) Promotion
b) Brand
c) Product
d) Price
e) c and d
13. Who among the following was selected to succeed Arun Kumar Jain as the new Chairperson of the Central Board of Direct Taxes (CBDT)?
a) Sushil Chandra
b) Atulesh Jindal
c) Laxman Das
d) Subrat Kumar Ray
e) Sudha Sharma
14. The Central Board of RBI comprises, a Governor, 4 deputy governors and ____ directors.
a) 5
b) 7
c) 10
d) 15
e) 9
15. S.S. Tarapore passed away in Mumbai on February 2, 2016. He was well-known for his work in the field of:
a) Diplomacy
b) Banking
c) Civil Service
d) Law
e) Agriculture
16. Prime Minister Narendra Modi unveiled the Start-up India action plan to encourage new ventures on January 16, 2016. Income of start-ups will be exempted from tax for how many years?
a) 1
b) 2
c) 3
d) 4
e) 6
Answers :
1) b 2) d 3) b 4) a 5) a 6) c 7) d 8) b 9) d 10) a 11) d 12) b 13) b 14) d 15) b 16) c

Banking Quiz : Part-2

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

Suggestions Here :

E-mail - snazzy.meenakshi@gmail.com
http://studywithmeenakshi.blogspot.in