Banking Awareness Quiz|8th March 2019

Banking Awareness Quiz for LIC AAO/SBI PO MAINS MAINS

Improve your Banking Awareness with Banking quiz. Banking Quiz to help you improve your score for exams like Bank, SSC, Railway and other Government exams.

Q1. Many times we read a term CBS used banking operations. What is the full form of the letter C in the term ‘CBS’ ?

(a) Complete

(b) Credit

(c) Continuous

(d) Core

(e) None of these

Q2. Which of the following is the purpose of introducing ‘Know Your Customer’ norms by the banks?

(a) To bring more and more people under the banking net

(b) Identifying people who do not pay income tax

(c) To ensure that the money deposited in banks has come from genuine sources

(d) To ensure whether the money deposited in the bank is of an India or a foreign national

(e) None of the above

Q3. In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction?

(a) RTGS

(b) NEFT

(c) TT

(d) EFT

(e) MT

Q4. Which of the following certainly is an effort in the direction of Financial Inclusion?

(a) Internet Banking

(b) Anywhere Banking

(c) No-Frills Accounts

(d) Foreign Currency Accounts

(e) All of the above

Q5. Which of the following is not a scheduled Commercial Bank?

(a) IDBI Bank

(b) Axis Bank

(c) HDFC Bank

(d) NABARD

(e) Kodak Mahindra Bank

Q6. When ever somebody needs foreign currency against India Rupee, banks give equivalent amount of desired currency based on prevalent?

(a) Bank rate

(b) Currency rate

(c) Policy rate

(d) Exchange rate

(e) Base rate

Q7. What is the full form of ‘EPZ’?

(a) Economical Plus Zone

(b) Entertainment Plus Zone

(c) Export Promotion Zone

(d) Electronic Promotion Zone

(e) None of the above

Q8. Floating exchange rates refers to

(a) the ability of exchange rates to even out when displaced by shocks to the foreign exchange market

(b) new issues of foreign exchange offered on the market

(c) an exchange rate determined by the demand for and supply of a nation’s currency

(d) an excess demand for a nation’s currency that causes its devaluation

(e) an excess supply of a nation’s currency that causes its appreciation

Q9. Rupee coins are the legal tender in India under the provisions of

(a) Reserve Bank of India Act, 1934

(b) Negotiable Instruments Act, 1881

(c) Banking regulation Act, 1949

(d) Indian Coinage Act, 1906

(e) None of the above

Q10.The note-issue system in India is based on

(a) Gold Deposit System

(b) Minimum Reserve System

(c) Proportional Reserve System

(d) Simple Deposit System

(e) None of the above

ANSWER KEY:

Ans.1.(d)

Ans.2.(c)

Ans.3.(a)

Ans.4.(c)

Ans.5.(d)

Ans.6.(d)

Ans.7.(c)

Ans.8.(c)

Ans.9.(d)

Ans.10.(b)

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