Banking Quiz – 65

BANKING QUIZ

1. Banks in our country normally publicize that additional interest rate is allowed on retail domestic term deposits of?
a) Minors
b) Married Women
c) Senior citizens
d) Government Employees
e) Rural residents

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Answer c) Senior citizens

2. When the rate of inflation increases?
a) Purchasing power of money increases
b) Purchasing power of money decreases
c) Value of money increases
d) Purchasing power of money remains unaffected
e) Amount of money in circulation decreases

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Answer b) Purchasing power of money decreases

3. A centralized database with online connectivity to branches, internet as well as ATM-network which has been adopted by almost all major banks of our country is known as?
a) Investment Banking
b) Core Banking
c) Mobile Banking
d) National Banking
e) Specialized Banking

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Answer b) Core Banking

4. Which of the following is NOT considered a money market instrument?
a) Treasury Bills
b) Repurchase Agreement
c) Commercial Paper
d) Certificate of Deposit
e) Shares and Bonds

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Answer e) Shares and Bonds

5. Which of the following is necessary while opening deposit accounts in banks?
a) Will
b) Registration
c) Nomination
d) Indemnity
e) Guarantee

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Answer c) Nomination

6. Which of the following is not a banking term?
a) Letter of credit
b) MIBOR
c) Factoring services
d) Entry load
e) None of these

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Answer d) Entry load

7. Which of the following organizations issue the rules of global trade?
a) IMF
b) World Trade Organization
c) Foreign trade
d) G-20
e) None

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Answer b) World Trade Organization

8. One single statement that depicts the financial position of a Bank and / or Business enterprise at a given point of time is called?
a) Statement of product details
b) Foreign exchange
c) Balance Sheet
d) Balance of payment
e) Trading and Manufacturing account

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Answer c) Balance Sheet

9. The Reverse Mortgage scheme is launched to give benefit to which of the following groups of society?
a) Persons below 60 yrs
b) Senior Citizens
c) Unemployed youth
d) Orphans
e) All

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Answer b) Senior Citizens

10. One of the major challenges banking industry is facing these days is curbing deliberate efforts of some people to bring money earned through illegal activities in circulation. Which of the following act is passed to prevent this activity?
a) Payment & settlements Act
b) Control money supply Act
c) Narcotics and Psychotropic substance Act
d) Prevention of Money laundering Act
e) None

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Answer d) Prevention of Money laundering Act

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