Banking Quiz – 43

BANKING QUIZ

1. When did the nationalisation of major banks happen?
a) June, 1951
b) June, 1961
c) June, 1969
d) July, 1969

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Answer d) July, 1969

2. Which of the following pools money from various investors in order to purchase securities?
a) Fund derivative
b) Money Fund
c) Mutual fund
d) Pension fund

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Answer c) Mutual fund

3. When was Triton Insurance Company Ltd established?
a) 1834
b) 1850
c) 1907
d) 1938

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Answer b) 1850

4. What is Factoring?
a) An easy way of raising capital from a factoring company by small business
b) Selling of account receivables on a contract basis for cash payment to a factor before it is due
c) An arrangement for raising short term money against prepaid expenses
d) A method of discounting of long term bills

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Answer b) Selling of account receivables on a contract basis for cash payment to a factor before it is due

5. What is the full form of FSDC?
a) Financial Security and Development Council
b) Financial Stability and Development Council
c) Financial Security and Development Convention
d) Fiscal Stability and Development Council

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Answer b) Financial Stability and Development Council

6. Which one of the following is called as initial repayment holiday given to a borrower for repayment of loan?
a) Amortization
b) Moratorium
c) Subvention
d) None of the above

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Answer b) Moratorium

7. Which of the following permit cheque operation?
a) Savings bank accounts and fixed deposit accounts
b) Current accounts and fixed deposit accounts
c) Savings bank accounts and cash accounts
d) Savings bank accounts and current accounts

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Answer d) Savings bank accounts and current accounts

8. Which bank was the sponsor of Prathama Gramin Bank?
a) Bank of Baroda
b) Indian Bank
c) Punjab National Bank
d) Syndicate Bank

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Answer d) Syndicate Bank

9. What does RTGS enable?
a) Immediate transfer of money from customer of one bank to customer of another bank
b) Immediate transfer of money from customer of one bank to customer of another branch within the same bank
c) Immediate transfer of money from customer of one bank to customer of another country
d) Immediate transfer of money from customer of one bank to customer of RBI

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Answer a) Immediate transfer of money from customer of one bank to customer of another bank

10. With whom does the ownership of Public sector banks rest?
a) Wholly with Government of India
b) Jointly with Government of India and share-holders from the public
c) Jointly with Government of India and State Bank of India
d) Jointly with Government of India and Reserve Bank of India

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Answer b) Jointly with Government of India and share-holders from the public

11. Who issues ‘Commercial Papers’?
a) A Company to a Bank
b) Banks to Banks
c) Banks to Companies
d) Company to its suppliers

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Answer b) Banks to Banks

12. Which of the following sets up core banking infrastructure for rural banks?
a) IBA
b) NABARD
c) RBI
d) SIDBI

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Answer b) NABARD

13. Who regulates the Mutual funds in India?
a) FRBI
b) SEBI
c) SIDBI
d) RBI

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Answer b) SEBI

14. What do bank customers pay for using safe deposit locker facilities?
a) Commission on locker
b) Exchange on locker
c) Rent on locker
d) Safe custody charges

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Answer c) Rent on locker

15. What does the letter ‘R’ denote in the abbreviation ‘BR Act’ which controls banking activities in the country?
a) Reclamation
b) Reformation
c) Regulation
d) Rule

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Answer c) Regulation

16. Which is the minimum lending rate decided by RBI which shall be adopted by all Public Sector Banks?
a) Bank rate
b) Base rate
c) Overnight rate
d) None of the above

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Answer b) Base rate

17. What is the cost of credit expressed as a percentage on a yearly basis called?
a) APR
b) APY
c) WPI
d) None of these

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Answer a) APR

18. Which of the following helps the consumers protect their credit identities and recover from identity theft?
a) FACTA
b) FCRA
c) FDCPA
d) FOIA

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Answer a) FACTA

19. Which of the following is the amount of funds borrowed by the government to meet the expenditures?
a) Fiscal Deficit
b) Current account
c) Fiscal policy
d) Public finance

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Answer a) Fiscal Deficit

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