Banking Quiz – 64

BANKING QUIZ

1. Interest payable on savings bank accounts is?
a) De-regulated by RBI
b) Regulated by State Governments
c) Regulated by Central Govt
d) Regulated by RBI
e) Regulated by Finance Minister

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Answer a) De-regulated by RBI

2. The usual deposit accounts of banks are?
a) Current accounts, electricity accounts and insurance premium accounts.
b) Current accounts, post office savings, bank accounts and term deposit accounts.
c) Loan accounts, savings bank accounts and term deposit accounts.
d) Current accounts, savings bank accounts and term deposit accounts.
e) Current bill accounts and term deposit accounts.

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Answer d) Current accounts, savings bank accounts and term deposit accounts.

3. Fixed deposits and recurring deposits are?
a) Repayable after an agreed period
b) Repayable on demand
c) Not repayable
d) Repayable after death of depositors
e) Repayable on demand or after an agreed period as per bank’s choice

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Answer a) Repayable after an agreed period

4. Accounts are allowed to be operated by cheques in respect of?
a) Both savings bank accounts and fixed deposit accounts.
b) Savings bank accounts and current accounts.
c) Both savings bank accounts and loan accounts.
d) Both savings bank accounts and cash accounts only.
e) Both current accounts and fixed deposit accounts.

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Answer b) Savings bank accounts and current accounts

5. Which of the following is correct statement?
a) No interest is paid on current deposit accounts.
b) Interest is paid on current accounts at the same rate as term deposit accounts.
c) The rate of interest on current accounts and savings accounts are the same.
d) No interest is paid on any deposit by the bank.
e) Savings deposits are the same as current deposits.

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Answer a) No interest is paid on current deposit accounts

6. Banking services delivered to a customer by means of a computer control system that does not directly involve banks branch is called?
a) Universal banking
b) Virtual banking
c) Narrow banking
d) Brick & Mortal banking
e) None

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Answer b) Virtual banking

7. Financial inclusion means provision of ?
a) Financial services namely payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the bank
b) Ration at affordable cost to persons not yet given the same
c) House at affordable cost to persons not yet given the same
d) Food at affordable cost to persons not yet given the same
e) Education at affordable cost to persons not yet given the same

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Answer a) Financial services namely payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the bank

8. When a bank returns a cheque unpaid, it is called?
a) Payment of the cheque
b) Drawing of the cheque
c) Canceling of the cheque
d) Dishonour of the cheque
e) Taking of the cheque

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Answer d) Dishonour of the cheque

9. NEFT means?
a) National Electronic Funds Transfer
b) Negotiated Efficient Fund Transfer system
c) National Efficient Fund Transfer solution
d) Non Effective Fund Transfer system
e) Negotiated Electronic Foreign Transfer system

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Answer a) National Electronic Funds Transfer

10. Which of the following types of accounts are known as ‘Demat Accounts’?
a) Accounts which are Zero Balance
b) Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there
c) Accounts in which shares of various companies are traded in electronic form
d) Accounts which are operated through internet banking facility
e) None of the above

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Answer c) Accounts in which shares of various companies are traded in electronic form

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