Banking Awareness Based on Mutual Funds | Daily Banking Awareness Quiz

Banking Awareness Based on Mutual Funds  | Daily Banking Awareness Quiz

Banking Awareness Quiz for SBI Clerk, SBI PO, RBI, IBPS PO/Clerk/RRB/SO & other Banking & competitive exams 2020-21. Banking Awareness is an important part of any banking and Financial exam. You can Attempt Banking Awareness Quiz.

Q1. An investment programme funded by shareholders that trades in diversified holdings and is professionally managed. Is called?
(a) mutual fund
(b) trust fund
(c)Equity fund
(d)Shareholders fund
(e)None of these

Answer & Explanation
Ans.1.(a)
Exp. A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. These investors may be retail or institutional in nature. Mutual funds have advantages and disadvantages compared to direct investing in individual securities.

Q2. Indian Mutual Fund industry is well regulated by__________?
(a)GOI
(b)RBI
(c) SEBI
(d)Finance ministry
(e)Particular State governments

Answer & Explanation
Ans.2.(c)
Exp. Mutual funds in India are regulated and monitored by the Securities and Exchange Board of India (SEBI), which strives to protect the interests of investors.

Q3. The mutual fund industry in India started in ____ with the formation of Unit Trust of India?
(a)1990
(b)1960
(c)1955
(d)1963
(e)None of these

Answer & Explanation
Ans.3.(d)
Exp. The mutual fund industry in India started in 1963 with the formation of Unit Trust of India (UTI) at the initiative of the Reserve Bank of India (RBI) and the Government of India.

Q4. SBI Mutual Fund was the first non- UTI Mutual Fund established in?
(a)July 1987
(b) June 1987
(c)June 1988
(d)May 1987
(e)None of these

Answer & Explanation
Ans.4.(b)
Exp. 1987 marked the entry of non-UTI, public sector mutual funds set up by public sector banks and Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC). SBI Mutual Fund was the first non-UTI Mutual Fund established in June 1987 followed by Canbank Mutual Fund (Dec 87), Punjab National Bank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89), Bank of India (Jun 90), Bank of Baroda Mutual Fund (Oct 92). LIC established its mutual fund in June 1989 while GIC had set up its mutual fund in December 1990.

Q5. LIC established its mutual fund in?
(a)June 1980
(b)April 1989
(c)July 1989
(d)May 1989
(e)June 1980

Answer & Explanation
Ans.5.(b)
Exp. LIC Mutual Fund was established on 20th April 1989

Q6. GIC had set up its mutual fund in?
(a)December 1990
(b)April 1990
(c)June 1990
(d)July 1990
(e)None of these

Answer & Explanation
Ans.6.(a)
Exp. GIC had set up its mutual fund in December 1990.

Q7. In which year, the first Mutual Fund Regulations came under which all mutual funds except UTI were to be registered and governed?
(a)1985
(b)1991
(c)1993
(d)1990
(e)1992

Answer & Explanation
Ans.7.(c)
Exp. 1993 was the year in which the first Mutual Fund Regulations came into being, under which all mutual funds, except UTI were to be registered and governed. The erstwhile Kothari Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund registered in July 1993.

Q8. The erstwhile Kothari Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund registered in which year?
(a)July 1993
(b)May 1993
(c)July 1991
(d)July 1992
(e)June 1993

Answer & Explanation
Ans.8.(a)
Exp. The erstwhile Kothari Pioneer (now merged with Franklin Templeton) was the first private sector mutual fund registered in July 1993

Q9. The Mutual Fund Regulations from SEBI was introduced in which year?
(a)1990
(b)1994
(c)1991
(d)1996
(e)1995

Answer & Explanation
Ans.9.(d)
Exp. Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 is a set of regulations in India that govern mutual funds.

Q10. What is the full form of ETF?
(a)Exchange Traded Foundation
(b)Exchange Trade Fund
(c) Exchange Traded Fund
(d)Exchange Trading Fund
(e)External Traded Fund

Answer & Explanation
Ans.10.(c)
Exp. An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks.

 

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