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August 22, 2017

Most Expected Banking and Financial Awareness Questions for IBPS PO VII and Clerks VII Exams 2017 - Set 127

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Banking and Financial Awareness Quiz for IBPS 2017

  1. Risk in case of fluctuation of interest rates is categorized as  _________ risk.
    1. Operational
    2. Market
    3. Systemic
    4. Credit
    5. Either (1) or (2)
  2. The relationship between banker and customer in the case of locker transaction is:
    1. Bailor - Bailee
    2. Agent - Principal
    3. Trustee - Beneficiary
    4. Baillee - Bailor
    5. Lessee - Lessor
  3. Bank maintain secrecy of a customer's account and do not disclose its affairs except under certain circumstances. This is done as per the requirements of :
    1. RBI Act, 1934
    2. Banking Regulation Act,1949
    3. Negotiable Instruments Act 1881
    4. Implied Contract
    5. Banking Companies (Acquisition & Transfer of Undertakings) Act,1970 
  4. A demand draft :
    1. is a promissory note
    2. is a bill of exchange
    3. can be treated as Promissory Note or Bill of Exchange at the option of the holder
    4. prepaid instrument
    5. None of these 
  5. 'CAMELS' rating in India was introduced on the recommendations of :
    1. Kannan Committee
    2. N. Vaghul Committee
    3. R.V. Gupta Committee
    4. Dr. N.L. Mitra Committee
    5. Padmanabhan Committee
  6. Which of the following organization / agencies is not directly associated with functioning of the financial sector in India ?
    1. NABARD
    2. ECGC
    3. EXIM Bank
    4. IRDA
    5. UGC
  7. Which of the statements about the Reserve bank of India (RBI) is not correct ?
    1. RBI is called the Banker's Bank
    2. RBI announces the credit and Monetary
    3. RBI is the custodian of the Foreign of the country
    4. Finance Secretary of Central Government holds the charge of the Governor of the RBI
    5. None of the above
  8. Who amongst the following is well known for his work on micro credit ?
    1. Dr. Manmohan Singh
    2. Mr. Nelson Mandela
    3. Mr. Muhammad Yunus
    4. Dr. A. P. J. Abdul kalam
    5. None of these
  9. Which of the following taxes is the major source of the income of the union Governmen t?
    1. Fringe benefit tax
    2. VAT
    3. Cash withdrawal Tax
    4. Income tax
    5. None of the above
  10. The headquarters of the NABARD is situated in :
    1. New Delhi
    2. Mumbai
    3. Luck now
    4. Kolkata
    5. Bangalore
  11. The small industries Developm-ent Bank of India was established as a wholly owned subsidiary of :
    1. ECGC
    2. RBI
    3. NABARD
    4. IDBI
    5. SBI
  12. First share market in India was established in which of the following cities :
    1. Delhi 
    2. Chennai
    3. Mumbai 
    4. Ahmedabad
    5. Kolkata 
  13. Term 'Balance of Payment' is used in relation to which of the following ?
    1. Diplomatic relations
    2. Exports and Imports
    3. Annul production in a factory
    4. Deficit in Union Budget
    5. None of these
  14. Which of the following rate / rations is not covered under the RBI Monitory and credit policy ?
    1. Bank rate
    2. Exchange rate of foreign currencies
    3. Repo Rate
    4. Reverse Repo Rate
    5. None
  15. When the loan is granted by a bank for purchase of white goods it is called ?
    1. Consumption loan
    2. White goods loan
    3. Consumer durable loan
    4. White fertilizers loan
    5. None
  16. Who among the following is not the present Deputy Governor of the RBI ?
    1. Subir Gokaran
    2. N.S .Viswanathan
    3. Viran V.Acharya
    4. B.P. Kanungo
    5. None of the above
  17. TRAI regulates the functioning of which of the following ?
    1. Insurance
    2. Banking
    3. Stock Market
    4. Transport
    5. Telecom
  18. A company declares dividend before finalization of balance sheet, Such dividend is called as _________  dividend.
    1. Ex-gratia
    2. Interim
    3. Temporary
    4. Intermittent
    5. Part
  19. Difference between purchase and sale price of currency is called _________
    1. Dealer's spread
    2. Margin
    3. Exchange commission
    4. Arbitrage
    5. None of these
  20. A Saving Bank account becomes in-operative when it is not operated for  _________
    1. 6 months
    2. 12 months
    3. 2 years
    4. 3 years
    5. None of these 
  21. Foreign banks with minimum 20 branches in India have been advised by RBI to lend at least  to priority sector.
    1. 40% of net bank credit
    2. 40% of Adjusted Net Bank Credit
    3. 40% of off balance sheet exposure
    4. Higher of (1) or (3) above
    5. Higher of (2) or 3 above 
  22. A sub standard loan is classified as doubtful when it is maintained as :
    1. NPA for 18 months
    2. Sub standard asset for 18 months
    3. NPA for 12 months
    4. Substandard 12 months
    5. None of these
  23. Capital Adequacy ratio of a bank is calculated by dividing capital fund with _________  and multiplying by 100.
    1. Total Assets
    2. Tangible Assets
    3. Risk weighted Assets
    4. Risky Assets
    5. All assets except cash balance with RBI and investment in Govt. securities
  24. The money market instrument developed by CCIL is called :
    1. CD
    2. CP
    3. CBLO
    4. FD
    5. None of these
  25. Any appeal against order of the Recovery officer of DRT can be filed with :
    1. The Presiding Officer of the DRT
    2. Chairperson of the DRAT
    3. Deputy Governor of RBI
    4. Either (1) or (3)
    5. Either (2) or (3)
  26. The process of issue of new securities to existing shareholders at a ratio to those already held is called :
    1. Private placement
    2. FPO
    3. Rights issue
    4. Book building
    5. None of these
  27. Number of digits in PAN card is :
    1. 10
    2. 12
    3. 15
    4. 20
    5. 7
  28. Increase in Net Working Capital of a firm indicates that :
    1. Current assets are being fin-anced by long term sources
    2. Current liabilities are being used for financing long term uses
    3. The firm is relying heavily on borrowed funds
    4. All above
    5. None of these
  29. As per RBI current guidelines duplicate draft is required to be issued within a maximum period of :
    1. 21 days
    2. 14 days
    3. 7 days
    4. 3 days
    5. As per bank's discretion 
  30. In which of the following accounts nomination is not allowed ?
    1. Self operated deposit account in the name of minor
    2. Sage custody of articles deposited by an individual singly
    3. Locker account with joint operations by two or more locker holders
    4. All above
    5. None of these
  31. Under Right to Information Act, 2005 who can ask for relevant information ?
    1. NRI
    2. Indian Citizen
    3. Ambassador of a foreign country in India
    4. Any Foreigner
    5. Only (1) and (2)
  32. Non Resident Ordinary account can be opened as :
    1. Term deposit
    2. Savings deposit
    3. Recurring deposit
    4. Current deposit
    5. Any one of these 
  33. Maximum amount of education loan that can be sanctioned with-out insisting on collateral secur-ity if third party guarantee acceptable to the bank is furnished:
    1. Rs. 4 lakh
    2. Rs. 10 lakh
    3. Rs. 15 lakh
    4. Rs. 7.5 lakh
    5. Rs. 5 lakh 
  34. Demand Deposits are those which can be withdrawn _________
    1. On Request
    2. On Sanction by Manager
    3. On Demand
    4. On Persuasion
    5. With prior notice
  35. Time limit to approach for legal action in case of cheque dishonoured for insufficiency of funds is :
    1. One month from the expiry of notice period
    2. 15 days from the expiry of notice period.
    3. Two month from the expiry of notice period.
    4. Forty five days from the expiry of notice period.
    5. No such limitation. 
  36. What is the full form of CIN in case of a company ?
    1. Core Identity Number
    2. Customer Identity Number
    3. Company Identify Number
    4. Corporate Identity Number
    5. Centralised Identification Number
  37. What is true about Code of bank's commitment to customers (COB CTC) ?
    1. It is formulated by BCSBI It mentions the minimum standard of service a bank
    2. Undertakes to provide to its individual customers
    3. All banks are required to adopt this code
    4. BCSBI will monitor this code
    5. All the above
  38. Bank can't proceed against the borrower under SARFAESI Act where :
    1. Security is Agriculture Land
    2. Liability is less than Rs. 1 lakh
    3. Liability is less than 20% of the principal
    4. Documents are time barred
    5. All of the above
  39. Interest in SB account is calculated on  _________
    1. Minimum balance during the month
    2. Balance as on 30th of the month
    3. Minimum balance between loth and last day of the month
    4. On daily balance basis
    5. None of the above
  40. What is the time period under SARFAESI Act for replying the borrower, in case he raises an objection for possession of the asset ?
    1. 60 days
    2. 30 days
    3. 15 days
    4. 3 days
    5. 45 days 
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