General / Economy / Banking Awareness Quiz for IBPS PO VII 2017 - Set 126

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 Banking Awareness Quiz 2017 for IBPS PO VII

1. Nomination facility is not allowed in :
1. Locker account in the name of more than one person
2. Safe custody account in names of more than one person
3. Deposit account in the name of two or more persons
4. All above
5. None of the above
2. A Bank guarantee is treated by the bank as __________ liability.
1. Standard
2. Hidden
3. Contingent
4. Outstanding
5. Any of the above 
3. In case of a limited company the charge which does not require registration with ROC, is:
1. Mortgage
2. Pledge
   
3. Hypothecation
4. All of these
5. None of these
4. Which of the crossings is a Special crossing ?
1. In which name of a bank appears with the words not negotiable
2. In which name of a bank appears with two parallel transverse lines
3. In which name a bank appears as payee
4. In which name of a bank appears in any form either with or without parallel transverse lines
5. Any of the above 
5. If a depositor other than a senior citizen desires that TDS should not be deducted from interest income he will be required to submit Form :
1. 15 G
2. 15 H
3. 60
4. 61
5. Any of these
6. After the death of the depositor, the nominee gets payments of the deposit as :
1. Legal representative
2. Trustee of legal heirs of the deceased
3. Legal representative of bank
4. True owner
5. Either (2) or (3) above
7. If Crossed cheque is presented over the counter, It :
1. Can be paid to the collecting bank
2. Can be paid to the agent of a collecting bank
3. Cannot be paid
4. Can be paid only through clearing
5. Either (1) or (2) above
8. Acknowledgement of award by Ombudsman and its compliance by Bank is to be endured within :
1. 15 days
2. 30 days
3. 45 days
4. 60 days
5. 90 days
9. Absorption of excess liquidity from the banking system by RBI is referred to as :
1. Securitisation
2. Bank assurance
3. Reverse repo
4. Repo
5. None of these
10. Annual family income of a DRI beneficiary in semi-urban area should not exceed :
1. Rs. 24,000
2. Rs. 7,200
3. Rs. 18,000
4. Rs. 64,000
5. Rs. 1,00,000
11. Maximum amount of education loan that can be sanctioned without insisting on collateral security 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
12. Which of the following abbreviations relating to money market is NOT correct ? 
• i) CP - Commercial Paper 
• ii) CD - Certificate of Deposit 
• iii) G.Sec - General Secretary 
• iv) REPO - Repurchase Option
1. Only (i) and (ii)
2. Only (iii)
3. Only (iii) and (iv)
4. Only (iv)
5. None of the above
13. Which of the following is not taken into computation for calculating NDTL for the purpose of CRR?
1. Overdue time deposit
2. Liabilities of off-shore banking units
3. Balances in inoperative accounts
4. All above
5. None of the above
14. A foreign bill is one which is :
1. Drawn in India on a person resident in India but payable abroad
2. Drawn in India on a person resident outside India but pa-yable in India
3. Drawn abroad on a person resident in India and payable in India
4. Both (1) and (3) above
5. Both (2) and (3) above
15. Which of the following is / are current liability(ies) ?
1. Provision for bad and doubtful debts
2. Sundry creditors
3. Depreciation
4. Pre-operative expenses
5. 1 & 3
16. As per KYC guidelines of RBI cash transaction of Rs. __________  lakh and above should be reported to RBI.
1. Rs. 5 lakh
2. Rs. 10 lakh
3. Rs. 2 lakh
4. Rs. 20 lakh
5. None of the above
17. Hypothecation is a :
1. Floating charge
2. Mortgage
3. Assignment
4. Fixed charge
5. None of these
18. Nomination facilities to bank customers are provided under provisions of :
1. RBI Act, 1934
2. Banking Regulation Act, 1949
3. Companies Act, 1956
4. Negotiable Instruments Act 1881
5. Indian Contract Act 1861
19. Which of the following will be taken into account for deciding amount to be deposited with NABARD under RIDF ?
1. Shortfall in weaker section targets
2. Shortfall in agriculture targets
3. Shortfall in priority sector targets
4. All above
5. Only (2) & (3) above
20. More than one nominee can be appointed in:
1. Joint account with operation by either
2. Account in the name of a single person
3. Account in the name of partnership
4. Joint locker account operated jointly
5. None of the above
21. Debenture holders of a limited company are :
1. Owners of the company
2. Creditors of the company
3. Debtors of the company
4. Any one of the above
5. None of these
22. Goodwill is an example of :
1. Current asset
2. Intangible asset
3. Owner's funds
4. Term liability
5. None of these 
23. Mulberry is associated with :
1. Sericulture
2. Aquaculture
3. Pisciculture
4. Floriculture
5. Agriculture
24. The Asset Liability Management is helpful in managing :
1. Liquidity Risk
2. Credit Risk
3. Operational Risk
4. Exchange Risk
5. None of these
25. 'Nostro' account refers to account :
1. Of a foreign correspondent bank with us
2. Of a foreign bank with RBI
3. Any bank maintaining its account abroad with any other bank
4. Maintained by our correspondent with their own branch in India
5. Of an NRI who returned to India after a continuous stay of one year abroad
26. Banks are now allowed to accept domestic term deposits for less than:
1. 7 days
2. 15 days
3. 15 days but for a period of 7 days if the single deposit is for Rs. 15 lakh and above.
4. 15 days but for a period of 7 days if the aggregate term deposit is for Rs. 15 lakh and above
5. 30 days 
27. Systems failure in a bank is called __________risk.
1. Operational 
2. Exchange
3. Market 
4. Legal
5. Business 
28. A Probate is a :
1. Power of Attorney from the court of law
2. An instruction from the court of law
3. A certified will of the deceased
4. Order of the deceased before his death
5. None of these 
29. Certificate of Incorporation issued to a company by :
1. Register of Assurances
2. Securities & Exchange Board of India
3. Company Law Board
4. Registrar of Companies
5. Either (3) or (4) above
30. A cheque bears across its face the name of a bank without any parallel transverse lines. The cheque will be treated as having:
1. Special Crossing
2. General Crossing
3. Extraordinary Crossing
4. No Crossing
5. None of these
31. The difference between pledge and hypothecation is on account of :
1. Possession
2. Valuation
3. Ownership
4. Title
5. None of these
32. Consumer Protection Act, 1986 operates at:
1. District level
2. State level
3. Central level
4. Union Terrirories
5. 1, 2 & 3
33. Balance Sheet is a statement of assets and liabilities of a firm and is prepared :
1. As on a particular date
2. For one year
3. For six months
4. Every Friday
5. Quarterly basis
34. A 'Senior Citizen ' who is entitled to additional interest on term deposit from the bank is a person who :
1. Is at least 65 years of age
2. Has completed 55 years the age
3. Has completed the age of 60 years
4. Has attained the age of 58 years
5. None of the above
35. Who among following was not ex-governor of RBI ?
1. Dr. C.Rangarajan
2. Dr. Manmohan Singh
3. Dr. V.V.Giri
4. Dr. Bimal Jalan
5. Dr. M Narasimham
36.  'The rate in which foreign currency unit is fixed and domestic currency varies is called :
1. Direct rate
2. Indirect rate
3. Varying rate
4. Fixed rate
5. Mixed Rate
37. In financial analysis, breakeven point is one :
1. Where some useful analysis emerges as regards area of high profitability
2. Where cost of production equals selling price
3. Where there is no profit and no loss
4. Any one of the above
5. Either (2) or (3) above
38. As per recommendations of Goiporia Committee, returned cheques should be delivered to the party who lodged it within:
1. 24 hours
2. 72 hours
3. 48 hours
4. One week
5. None of these
39. Single debit multiple credit applies to :
1. ECS Debit
2. ECS Credit
3. CBS
4. SWIFT
5. All
40. The Goods and Services Tax (GST) came into effect from ?
1. 1st July 2017
2. 1st June 2017
3. 1st August 2017
4. 1st Marcy 2017
5. 1st November 2016

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