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November 13, 2015

General & Banking Awareness Quiz for IBPS & RBI Exams - Set 40

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  1. The Reserve Bank of India has modified the minimum amount of gold that can be deposited under the Gold Monetisation Scheme under the Reserve Bank of India (Gold Monetisation Scheme), Direction, 2015. The modification provides that the minimum deposit at any one time shall be 30 grams of raw gold and it includes which of the following?
    1. bars
    2. coins
    3. jewellery excluding stones and other metal
    4. All the above
    5. None 

  • Then Sovereign Gold Bonds will be denominated in multiples of gram(s) of gold with a ________ basic unit of gram

    1.  1
    2.  5
    3.  10
    4.  20
    5.  50

  • The tenor of the Sovereign Gold Bond will be for a period of ________  years with exit option from 5th year to be exercised on the interest payment dates.

    1.  8
    2. 2
    3.  3
    4.  4
    5.  1.2 

  • Minimum permissible investment will be ________ units (i.e. 2 grams of gold) for Sovereign Gold Bond

    1.  4
    2.  2
    3.  6
    4.  8
    5.  None

  • The maximum amount subscribed by an entity for Sovereign Gold Bond will not be more than ________  grams per person per fiscal year (April-March). A selfdeclaration to this effect will be obtained.

    1.  500
    2.  1000
    3.  1500
    4.  2000
    5.  None of these 

  • Payment for the Sovereign Gold Bonds will be through

    1.  electronic funds transfer.
    2.  cash payment
    3.  cheque
    4.  demand draft
    5.  All the above 

  • The Central Government has nominated Shri Shaktikanta Das, Secretary, Department of Economic Affairs, Ministry of Finance, New Delhi as ________

    1.  a Director on the Central Board of Directors of the Reserve Bank of India
    2.  Director, SBI
    3.  Director, Commercial Taxes
    4.  Chairman, CBDT
    5.  None of these 

  • Keynesian models of monetary economics came into fashion in the last  ________

    1.  Great Crisis, the Great Depression.
    2.  2008
    3.  2012
    4.  1973
    5.  None of these 

  • In the Greenwald-Stiglitz models, monetary policy is largely mediated through the ________ 

    1.  banking system
    2.  insurance policy
    3.  motor vehicle driving licence
    4.  pollution policy
    5.  None of these 

  • What is the purpose of endorsement of a negotiable instrument ?

    1.  Negotiating ( transferring) a negotiable instrument
    2.  borrowing
    3.  lending
    4.  giving as security
    5.  None of these

  •  Endorsement of a cheque can be done on which part of the cheque ?

    1.  back side
    2.  front side
    3.  on a slip of paper attached to it
    4.  All the above
    5.  None of these

  • Endorsement for a part of the amount appearing on the instrument (i.e., bank cheque)  is valid or not?

    1.  Not valid
    2.  It can be
    3.  fully valid
    4.  half valid
    5.  None 

  • How many types of endorsements are there for a bank cheque ?

    1.  Endorsement in blank and in full
    2.  Restrictive endorsement
    3.  Sans - Recourse endorsement; facultative endorsement; partial endorsement
    4.  Sans Frais endorsement
    5.  All the above (six types) 

  • "Once a Bearer is always a bearer". What is the meaning of it in respect of bank cheques etc.,?

    1.  Endorsements on a bearer cheque are redundant and the paying bank should not take cognizance of them
    2. should not collect bearer cheques with crossing
    3. the endorsement of the bearer should be regular and not genuine
    4. should ignore crossing in a bearer cheque
    5.  None of the above 

  • What is the meaning of" Payment in due course" in respect of a bank cheque? 

    1.  If it is made in accordance with the apparent tenor of the instrument
    2.  If it is made in good faith and without negligence
    3.  It is made to any person in possession of the instrument
    4.  Under circumstances which do not afford a reasonable ground to believe that the person receiving the payment is not entitled for the same
    5.  All the above

  •  "A minor may draw, endorse, deliver and negotiable any negotiable instrument/cheque" so as to bind all parties except  ________

    1.  himself
    2.  Bank Manager
    3.  LIC Agent
    4.  Head master of a school
    5.  None of the above

  • Which of the following are called as "not payments in due course" in respect of a cheque ?

    1.  payment in contradiction to apparent tenor
    2. payment after receipt of stop payment order
    3.  payment made after banking hours
    4.  payment of a cheque bearing forged signature
    5.  All the above 

  • A cheque is drawn " Pay or order or bearer." The cheque should be treated as

    1.  not as an order cheque
    2.  not as a bearer cheque
    3.  a cheque irregularly drawn and should not be paid
    4.  a cheque payable to drawer only
    5.  None of the above

  • "Good faith" means doing an act ________

    1.  wisely
    2.  with prudence and care
    3.  honestly
    4.  honestly and without negligence
    5.  None of the above

  • What are the certificates to be obtained from pensioner by bank ?

    1.  life certificate
    2.  certificate of non-employment
    3.  certificate of non-marriage/remarriage
    4.  All the above
    5.  None of these 
    Shared by Shravan Varma Gadiraju
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