Banking Awareness Quiz for IBPS Bank Exams 2015 - Set 65

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1. With reference to Indian Banking Sector, which of the following is the most appropriate expanded form of EMI ?
1. Estimated Monthly Installment  
2. Extended Matching Items 
3. Equated Monthly Installment 
4. Enterprise Manufacturing Intelligence 
5. Easy Monthly Installment 
2. Which of the following safeguards should be ensured by banks before issuing Letters of Credit ?
1. LCs are issued in security forms only
2. Large LCs are not issued for amounts out of proportion to the borrower's genuine requirements 
3. Large LCs are issued under a single authorized signature 
4. Both 1 and 2
5. All of these 
3. What is the term for a bank without any branch network that offers its services remotely ?
1. Virtual Bank 
2. Direct Bank 
3. Lending Institution 
4. Indirect Bank 
5. Online Bank 
4. The Reserve Bank of India made it mandatory for banks to lend at least 40% of their credit to select sectors such as Agriculture, Micro and Small Enterprises, other weaker sections, etc. Which banks have to lend at least 40% of their total net credit to priority sectors ?
1. Scheduled Commercial Banks 
2. Foreign Banks 
3. NABARD 
4. IRDA 
5. All of these 
5. When criminals use an innocent person's details to open or use an account to carry out financial transactions, it is known as _________
1. Money Laundering 
2. Phishing
3. Identity Theft
   
4. Insinuation
5. Real Time Gross Settlement 
6. The Aadhar Enabled Payment System (AEPS) is a bank-led model that facilitates banking facilities by allowing transactions at Point of Sale through the business correspondent (BC) using the Aadhar authentication number. Aadhar enabled basic types of banking transactions do not include __________
1. Balance enquiry 
2. Cash withdrawal
3. Online payment 
4. Cash deposit 
5. Aadhar to Aadhar funds transfer 
7. BCSBI aims to plan, evolve, prepare, develop, promote and publish comprehensive codes and standards for banks, for providing for fair treatment to their customers. Which of the following codes has been evolved by it ?
1. Code of Banks Commitment to Customers 
2. Code of Banks Commitment to Micro and Small Enterprises
3. Code of Banks Commitment to Financial Inclusion 
4. Both 1 and 2
5. Both 2 and 3
8. NABARD is responsible for regulating and supervising 
1. Securities market in India
2. Cooperatives 
3. Regional Rural Banks 
4. Bank rates of scheduled commercial banks in India 
5. Only 2 and 3
9. Which of the following is a receipt, declaring ownership of shares of a foreign company, which can be listed in India and traded in rupees ?
1. ADR
2. GDR
3. IDR
4. EDR
5. None of these 
10. Micro credit concentrates on ____________
1. Small loans 
2. WOmen
3. Rural Areas 
4. Poor people 
5. All of these 
11. Equity share is also known as ________
1. Shareholder equity 
2. Share Capital 
3. Stockholder equity 
4. Net worth 
5. All of the above 
12. In order to promote no frills accounts as part of basic banking, the Reserve Bank of India (RBI) , in August 2012, advised banks to rechristen it as ______
1. Basic Saving Account 
2. Basic Deposit Account 
3. Basic Account 
4. Basic Savings Bank Deposit Account 
5. None of these 
13. The process by which LIC holder can transfer all rights, title and interest under a policy a contract to any third person is known as _____
1. Subrogation
2. Escrow 
3. Mortagge
4. Assignment 
5. Nomination 
14. CASA ratio of bank indicate the ______
1. Bank deposits 
2. Banks base rate 
3. Banks liabilities 
4. Banks total assets 
5. Banks Non-Performing Assets 
15. Which of the following is an objective of Asset Liability Management ?
1. Management of structure of balance sheet
2. Measuring, monitoring and managing the market risk of a bank 
3. Funding and capital planning and profit planning 
4. Both 1 and 2
5. All of these 
16. The RBI has issued a guideline with respect to no charge on saving bank account on speed clearing of cheques of _________
1. Rs. 10,000
2. Rs 25,000
3. Rs. 45, 000
4. Rs. 99,999
5. Rs. 1,00,000
17. Derivatives Contract which gives the buyer / holder of the contract the right (but not the obligation) to buy / sell the underlying asset at a predetermined price within or at end of a specified period is known as ______
1. Futures Contract
2. Option Contract 
3. Index Futures Contract
4. Mini Derivative Contract 
5. None of these 
18. Banks in our country normally publicize that additional interest rate is allowed on retail domestic term deposits of ______
1. Minors
2. Married women 
3. Senior citizens 
4. Govt employees 
5. Rural residents 
19. Which of the following is known as cross selling by banks ?
• A. Sale of a debit card to a credit card holder 
• B. Sale of Insurance policy to a depositor 
• C. Issuance of cash against Cheque presented by a third party
1. Only A
2. Only B
3. Only C
4. Both A and C
5. All A, B and C
20. Financial inclusion means provision of __________
1. Financial services namely, payments, remittances, savings , loans and insurance at affordable cost to persons not yet given the same
2. Ration at affordable cost to persons not yet given the same 
3. House at affordable cost to persons not yet given the same
4. Food at an affordable cost to persons not yet given the same 
5. Education at affordable cost to persons not yet given the same

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