Banking Quiz – 105

BANKING QUIZ

1. Branch Banking Means ?
a) Bank runs branches accepting deposits only
b) Bank operates through branches to make deposits and forward loans
c) Banks do not having branches
d) 1 and 3
e) None of these

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Answer b) Bank operates through branches to make deposits and forward loans

2. Which of the following is the best option to park money for a long period of time to earn a high rate of interest ?
a) Savings account
b) Current account
c) Fixed deposit account
d) Recurring account
e) None of these

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Answer c) Fixed deposit account

3. Fixed deposit can have
a) Nomination facility
b) Nomination facility with the permission of Bank chairman
c) Nomination facility by taking special permission from bank
d) Nomination facility on the day of closing
e) Nomination facility with the permission of person who introduced him to open account

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Answer a) Nomination facility

4. With whom, banks usually insure the deposit of the customers ?
a) IRDA
b) RBI
c) DICGC
d) NABARD
e) None of these

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Answer c) DICGC(Deposit Insurance and Credit Guarantee Corporation)

5. Licensing Authority of Banks rest with ……………………
a) SEBI (Securities Exchange Board of India)
b) RBI (Reserve Bank of India)
c) RRB (Regional Rural Bank)
d) EXIM Bank (Export and Import Bank of India)
e) All of the above

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Answer b) RBI (Reserve Bank of India)

6. The Other names of Reserve Bank of India are
a) Central Bank
b) Apex Bank
c) Lender of the last Resort
d) Banker’ s Bank
e) All of the above

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Answer e) All of the above

7. The financial assistance of loans of Rs. 10,000 by a bank to a very small borrower will be called ?
a) Business Finance
b) Govt. Finance
c) Micro Finance
d) Macro Finance
e) Small Finance

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Answer c) Micro Finance

8. Bank branches which can undertake foreign exchange business directly are known as :
a) Authorized dealer
b) Foreign dealers
c) Overseas branches
d) Approved dealers
e) None of these

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Answer a) Authorized dealer

9. _________ paper currency has highest fake notes in India ?
a) 500
b) 100
c) 20
d) 1000
e) 10

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Answer a) 500

10. To get rid of the disadvantages of Paper Currency, Plastic currency mooted. Which is the first country to mint Plastic money ?
a) India
b) New Zealand
c) China
d) Spain
e) Australia

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Answer e) Australia

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