Banking Awareness Quiz for SBI CBO – Quiz 1

12/01/2022

Banking Awareness Quiz for SBI CBO

SBI has released the notification of SBI CBO ( CIRCLE BASED OFFICERS ). The selection process consists of Online Written Test, Screening and Interview. Online written test will consist of Objective Tests for 120 marks and Descriptive Test for 50 marks. The Descriptive Test will be administered immediately after the conclusion of the Objective Test and candidates will have to type their Descriptive Test answers on the computer. To clear Banking Awareness section, Ambitiousbaba brings to you the series of objective Quiz based on exams pattern.

Q1. In other Banks Atms, A customer can withdraw cash for how many times without charge?

(a) Withdrawal 5 times in a months without charges and cash withdrawal 10,000 maximum per transaction
(b) Withdrawal 4 times free of charge and 20,000 maximum per transaction, in a calendar month
(c) No restrictions about number of transactions per month but amount can be 50,000 maximum per day
(d) None of above
(e) Any of the above

Answer & Explanation

1.Ans (a)

Free ATM transaction limit from other bank: Bank ATM card holders are now eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs viz. three transactions in metro centres and five transactions in non-metro centres and For cash withdrawals at other bank ATMs, banks have decided to maintain a limit of Rs. 10,000 per transaction.

Q2. WPI Inflation Index is released by?

(a) National Statistical Organization
(b) Ministry of Labour
(c) Office of Economic Adviser
(d) Ministry of Consumer Affairs
(e) Ministry of Finance

Answer & Explanation

2.Ans (c)
WPI measures the changes in the prices of goods sold and traded in bulk by wholesale businesses to other businesses. Published by the Office of Economic Adviser, Ministry of Commerce and Industry.

Q3. In case of High risk customers full KYC has to be done by Banks in ___ and in case of low risk customers full KYC has to be done by Banks in ____

(a) Atleast once in 5 years; Atleast once in 10 years
(b) Atleast once in 2 years; Atleast once in 10 years
(c) Atleast once in 10 years; Atleast once in 15 years
(d) Atleast once in 7 years; Atleast once in 14 years
(e) None of the above

Answer & Explanation

3.Ans (b)
In case of High risk customers full KYC has to be done by Banks in atleast once in two years and in case of low risk customers full KYC has to be done by Banks in atleast once in 10 years

Q4.In a _________________, an individual with a bank account is recruited to receive cheque deposits or wire transfers and then transfers these funds to accounts held on behalf of another person or to other individuals, minus a certain commission payment.

(a) PoS Terminal transaction
(b) Central KYC registry
(c) Money mule transaction
(d) Money laundering transaction
(e) None of the above

Answer & Explanation

4.Ans (c)
In a money mule transaction, an individual with a bank account is recruited to receive cheque deposits or wire transfers and then transfers these funds to accounts held on behalf of another person or to other individuals, minus a certain commission payment.

Q5. What is the maximum amount a person can deposit through cash recycler using Account Number?

(a) Rs 50000 per day
(b) Rs 200000 per day
(c) Rs 20000 per day
(d) Rs 100000 per day
(e) None of the above

Answer & Explanation

5.Ans (c)
A person can deposit up to Rs20000 per day by entering account number. and Rs 200000 per day using debit or ATM Card.

Q6. When a particular Foreign Exchange Transactions are dependent on other Foreign Exchange Transactions its called:

(a) Current account transactions
(b) Capital account transactions
(c) Autonomous transactions
(d) Accommodating transactions
(e) None of these

Answer & Explanation

6.Ans (d)
Accommodating transactions are those that are undertaken as a consequence of the autonomous transactions

Q7. From the following choose the incorrect one:
(a) Borrowings from the Asia Development Bank by the government is an accommodating
transaction.
(b) Loans given to Nepal by the government are an accommodating transaction.
(c) Buying of machinery from USA is an accommodating transaction
(d) Borrowing from the public is an accommodating transaction.
(e) None of the above

Answer & Explanation

7.Ans (c)
Autonomous items refers to those Balance of Payment (BoP0 transactions which are undertaken for profit. Buying of Machinery is an Autonomous Transaction.

Q8. Export of the Machinery recorded on the:

(a) Debit side of Current Account
(b) Credit side of Current Account
(c) Credit side of Capital Account
(d) Debit side of capital Account
(e) None of the above

Answer & Explanation

8. Ans (b)
Export of the Machinery recorded on the Credit side of Current Account.Current account refers to an account which records all the transactions relating to export and import of goods and services and unilateral transfers during a given period of time.

Q9.——-ATM Machine means the ATM which is provided for online purchase

(a) Yellow label ATM
(b) White label ATM
(c) Brown label ATM
(d) Green label ATM
(e) Orange label ATM

Answer & Explanation

9.Ans (a)
White Label ATM

Q10. As per current law, until which age can a child stay on their parents’ health insurance?

(a) 18
(b) 21
(c) 26
(d) 29
(e) None of these

Answer & Explanation

10.Ans (c)
In India, sons can legally remain on their parent’s insurance policies until 26 years.