Banking Quiz for SBI| IBPS – 134

BANKING QUIZ

1. Which of the following institution is responsible for finalizing the interest rates and credit policy of the Euro zone?
a) Bundesbank
b) European Central Bank
c) Federal Reserve
d) Bank of England

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Answer b) European Central Bank

2. What is the criteria for charging of service tax on companies?
a) All services not covered under the negative list is liable for payment of service tax
b) The Customs and Central Excise department notifies the services which are liable for payment
c) The Income Tax department announces the services which are liable
d) The list of services liable is mentioned in the Annual Budget

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Answer a) All services not covered under the negative list is liable for payment of service tax

3. The full form of the organization known as FEDAI is—
a) Foreign Exchange Dealers Agency of India
b) Full Exchange Deal and Industries
c) Foreign Exchange Dealers’ Association of India
d) Foreign Exchange Draft Associated Instructions

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Answer c) Foreign Exchange Dealers’ Association of India

4. Which of the following banks are permitted to undertake business of the central and state governments in India?
a) Public sector banks only
b) All commercial banks
c) Only public and private sector banks
d) Public, private sector and foreign banks

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Answer c) Only public and private sector banks

5. Why are anti money laundering laws important for the economy?
a) To control flow of illegal money to stop anti national and criminal activities
b) To prohibit trade in unaccounted money
c) To stop benami activity
d) To check money lending activity

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Answer a) To control flow of illegal money to stop anti national and criminal activities

6. Where does RBI mint currency coins?
a) At Mumbai and Alipore (Kolkata)
b) At Mumbai and Noida
c) At Kolkata and Noida
d) At Mumbai, Alipore(Kolkata), Hyderabad and Noida

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Answer d) At Mumbai, Alipore(Kolkata), Hyderabad and Noida

7. Which of the following accounts for the maximum share in India’s foreign exchange reserves?
a) Gold reserves
b) NRI deposits
c) Special depository receipts
d) Foreign currency assets

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Answer d) Foreign currency assets

8. The government of India is empowered to borrow funds from RBI. Through which of the following instruments does it borrow?
a) Commercial papers
b) Certificates of deposits
c) Treasury bills
d) Ways and Means advances

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Answer c) Treasury bills

9. Basel Committee on Banking Supervision is also commonly known as—
a) Banking Regulation Committee
b) Bretton Woods Institution
c) Bank for International Supervision
d) Federal Reserve

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Answer c) Bank for International Supervision

10. SWIFT is a network for banks to exchange information. What is the expanded form?
a) Safe Window for International transactions
b) Secured Worldwide International Transactions
c) Society for Worldwide Interbank Financial Telecommunications
d) None of the above

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Answer c) Society for Worldwide Interbank Financial Telecommunications

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