Banking Quiz – 115

1. SWIFT means ?
a) Society for World Wide Interbank Financial Telecommunication
b) Social Formality World Wide Internet Functional Telecom­unit
c) Society for World Wide International Financial Telecommunication
d) Society for World Wide Interbank Functionality Telecommunication
e) Society for World Wide Interbank Financial Technologies

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Ans a) Society for World Wide Interbank Financial Telecommunication

2. SWIFT introduced in which year ?
a) 1975
b) 1985
c) 1976
d) 1973
e) 1986

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Ans d) 1973

3. SWIFT allows member financial organization / banks worldwide to exchange information amongst each other in which form ?
a) Physically
b) Electronically
c) Via Telephone calls
d) All of these
e) None of these

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Ans b) Electronically

4. Loan given for undertaking repairs, renovations and / or upgradation is called
a) Home Damage Loan
b) Home Improvement Loan
c) Home Makeup Loan
d) Home Custody Loan
e) Home Consumption Loan

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Ans b) Home Improvement Loan

5. Important statements of Bridge Loan in Home Loan given. Pick the wrong statement ?
a) Bridge Loan also available in Home Loans
b) It is designed for people who wish to sell the existing home and purchase another
c) It helps finance the new home, until a buyer is found for the old home
d) It is not available in Metro cities
e) None

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Ans d) It is not available in Metro cities

6. Which among the following term is not used in Economics ?
a) Elasticity
b) WPI
c) Continental Drift
d) Balance of Trade
e) Fiscal Deficit

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Ans c) Continental Drift

7. What is meant by “Public Sector Bank” ?
a) The bank runs by the government having the Directors elected by the public
b) The Bank gives the accounts to Government only but not private individuals
c) Government of India or RBI or both have the least 51% shares in the bank
d) More people visit these banks
e) None

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Ans c) Government of India or RBI or both have the least 51% shares in the bank

8. Which commission distributes the taxes between centre and states ?
a) Planning Commission
b) Board of Direct Taxes
c) Finance Commission
d) National Development Counsel
e) National Advisory Council

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Ans c) Finance Commission

9. List of Abbreviations given. Pick the wrong one ?
a) NALSA ­ National Legal Services Authority
b) Housing Development Finance Corporation (HDFC)
c) The Industrial Development Bank of India (IDBI)
d) Industrial Credit and Interchange Corporation of India (ICICI)
e) United Commercial Bank (UCO)

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Ans d) Industrial Credit and Interchange Corporation of India (ICICI),  Industrial Credit and Investment Corporation of India

10. Who invented the first operational ATM ?
a) John Canner
b) John Smith Adam
c) John Shepherd­ Barron
d) Adam Carter
e) John Sayer

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Ans c) John Shepherd ­Barron

11. ATM Stands for ?
a) Automated Teller Machine
b) Automatic Teller Machine
c) Automated Teller Memory
d) Any Time Money
e) All Time Money

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Ans a) Automated Teller Machine

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