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Banking Awareness May 2019 Quiz

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Banking Awareness May 2019 Quiz

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The article Banking Awareness Quiz includes Banking Awareness May 2019 Quiz with an explanation, analysis and issues of current events in the month. And these Quiz will help in the Competitive Exams like IBPS, RBI Grade B, SBI PO, RRB and other banking examinations.

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Q1. Which of the following is correct about ‘First Class Life’?
    A. It comes under the low-risk category of life insurance B. The premium charged is very high C. It comes under the high-risk category of life insurance D. The maturity amount is paid in installments Answer: A

Q2. The stock exchanges are defened under which of the following acts?
    A. Companies Act, 2013 B. SEBI Act, 1992 C. SCRA, 1956 D. RBI Act, 1934 Answer: C

Q3. Which insurance company won the Business Today-Money Today Financial Award in the category of 'Best General Insurance Provider'?
    A. Life Insurance Company B. New India Assurance Company C. HDFC Life Insurance D. ICICI Lombard Answer: B

Q4. Which of the following instrument is issued by Government through RBI?
    A. Certificate of Deposits (CDs) B. Commercial Papers (CPs) C. Inter-Corporate Deposits (ICDs) D. Treasury bills Answer: D

Q5. What is the tagline of SBI Life Insurance?
    A. Sar Utha Ke Jiyo B. Karo Jyada ka Iraada C. With Us, You are Sure D. Kal Par Control Answer: C

Q6. What is the term used in the contracts which guarantee the payment of a certain sum on the happening of a specied event which is bound to happen sooner or later?
    A. Annuity B. Insurance C. Assurance D. Premium Answer: C

Q7. A segment of the financial market in which financial instruments with high liquidity and very short maturities are traded is known as
    A. Money market B. Stock Market C. Deivative market D. Equity market Answer: A

Q8. Which of the following is not a function of the Securities and Exchange Board of India (SEBI)?
    A. Supervising the working of the stock Exchanges B. Underwriting new Capital Issues C. Regulating the working of depositories, custodians of securities D. Promoting the development of a healthy Capital market Answer: B

Q9. The amount to be paid to the holder of a financial obligation at the obligation's maturity is known as ____.
    A. Paid-up value B. Surrender Value C. Maturity value D. Sum Assured Answer: C

Q10. Which of the following insurance company is responsible for implementing Pradhan Mantri Vaya Vandana Yojana (PMVVY)?
    A. General Insurance Corporation B. Life Insurance Corporation C. New India Assurance D. United India Insurance Company Answer: B

Q11. The GST Council has reduced the tax on under construction residential properties to how much percent?
    A. 10% B. 12% C. 9% D. 5% Answer: D

Q12. Which insurance company won the ‘Non-Life Insurer of The Year Award 2019’?
    A. Life Insurance Corporation B. Bharti Axa General Insurance C. Max Bupa Insurance Company D. ICICI Prudential Life Insurance Answer: B

Q13. Which of the following is the amount of liability covered for an individual by insurance services?
    A. Claim B. Coverage C. Deductible D. Death Benefit Answer: B

Q14. If a cheque is presented for payment after three months the date mentioned in the cheque, this type of cheque is known as:
    A. Anti-dated cheque B. Post-dated cheque C. Stale Cheque D. Bearer Cheque Answer: C

Q15. The Executive Council of Insurers (ECOI) was established under which of the following Rules/Act?
    A. Life Insurance Corporation Act, 1956 B. General Insurance Business (Nationalization) Act, 1972 C. Insurance Ombudsman Rules, 2017 D. IRDAI Act, 1999 Answer: C

Q16. According to the Depositor Education and Awareness Fund (DEAF) Scheme 2014, deposits which were not operated or are unclaimed for which of the following periods had to be transferred annually to the DEAF account?
    A. 5 B. 10 C. 3 D. 2 Answer: B

Q17. Under which of the following types of account, a specfied amount is deposited every month for a specic period, say, 12, 24, 36 or 60 months?
    A. Fixed Deposit Account B. Saving Account C. Current Account D. Recurring Account Answer: D

Q18. ‘SIP’ in Mutual Fund business means:
    A. Salaried Individuals and Plans B. Systemized Insurance Plans C. Systemized MF Plans D. Systematic Investment Plans Answer: D

Q19. Which among the following not a subsidiary of RBI?
    A. National Housing Bank B. NABARD C. Deposit credit and guarantee corporation D. Both A & B Answer: D

Q20. The Chairman and Managing Director of which insurance company has been awarded the Freedom of the City of London in recognition of her work to promote insurance ties between India and the UK?
    A. OICL B. NICL C. NIACL D. UIIC Answer: E

Q21. What is the situation where there is a possibility of loss or no loss but no possibility of gain in insurance?
    A. Abbreviate risk B. Pure risk C. Production liability D. Retrospective rating Answer: B
Q1. In order to achieve financial inclusion goals, RBI has permitted opening of USBs. What is the full form of USB?
    A. Urban Small Branch B. Unique Safety Branch C. Ultra Small Branch D. Other than those given as options Answer: C

Q2. What do you understand by Cheque Truncation System?
    A. Physical movement of a cheque is stopped between banks and instead of physical movement an electronic image be exchanged for clearance of funds which is faster and safer. B. The physical movement of a cheque for clearance of funds be made more secure C. Issue of cheques to customers be made more secure by introducing more enhanced security features D. A new technology to process payments between Banks exclusively Answer: A

Q3. The Certificate of Deposit (CD) is a negotiable money market instrument and issued in the form of?
    A. Derivative Usance Promissory Note B. Usance Promissory Note C. Demand Promissory Note D. Both a & b Answer: B

Q4. A sum of money paid regularly (typically annually) by a company to its shareholders out of its profits (or reserves) is called as?
    A. Bonus B. Profit C. Gratification D. Dividend Answer: D

Q5. The rate at which banks borrow money from the RBI is called ____.
    A. MSF Rate B. SLR C. CRR D. Repo Rate Answer: D

Q6. 'Cheque' and Demand Draft' come under the purview of which of the following Acts?
    A. Banking Regulation Act, 1949 B. The Banking Companies Act–1949 C. Chit Fund Act–1982 D. Negotiable Instrument Act, 1881 Answer: D

Q7. What is ‘E’ in FERA?
    A. Earning B. Estimate C. Exchange D. External Answer: C

Q8. Which of the following is not covered under the Negotiable Instruments Act, 1881?
    A. Cheque B. Demand Draft C. Bills of exchange D. Hundi Answer: D

Q9. In Banking terminology, ‘open offer’ refers to ______.
    A. A legal document that allows someone else to act on your behalf. B. A share which entitles the holder to a fixed dividend, whose payment takes priority over that of ordinary share dividends. C. An exit route that is given to the existing shareholders by the acquirer of shares through a public announcement. D. A public officer constituted by law to serve the public in non-contentious matters usually concerned with estates, deeds, powers-of-attorney, and foreign and international business. Answer: C

Q10. Which of the following banks has sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs)?
    A. Bank of Baroda B. Bank of India C. Corporation Bank D. Punjab National Bank Answer: D

Q11. “Buy Now – Pay Later” is commonly used for -------
    A. Debit Cards B. Vault Cards C. Credit Cards D. E-purse Answer: C

Q12. The Reserve Bank of India (RBI) will introduce Rs 20 denomination banknotes in the Mahatma Gandhi (New) Series, having the signature of the RBI Governor. What is the dimension of the Rs 20 banknote?
    A. 73 mm x 135 mm B. 66 mm x 135 mm C. 63 mm x 129 mm D. 66 mm x 150 mm Answer: C

Q13. Which of the following banks has launched India’s rst ‘Green Car Loan’ to encourage customers to buy electric vehicles?
    A. State Bank of India B. Union Bank of India C. Bank of Baroda D. Punjab National Bank Answer: A

Q14. The current account decit (CAD), has remained as high as 5.6% approx. six years ago. The CAD is likely to be ______ of GDP this year.
    A. 5% B. 4.3% C. 3.3% D. 2.5% Answer: D

Q15. The International Securities Identication Number is used for uniquely identifying securities like equity, debt etc. The ISIN has ____ characters.
    A. 12 B. 11 C. 10 D. 15 Answer: A

Q16. ___________ refers to the borrowing raised by Indian corporates from international markets.
    A. Debentures B. Bonds C. External Commercial Borrowings D. Shares Answer: C

Q17. Who will head the Expert Committee on Economic Capital Framework constituted by the Reserve Bank of India?
    A. Bimal Jalan B. Ashok Vajpeyi C. Balan Nambiar D. Uttam Pacharne Answer: A

Q18. Which of the statutory body has signed a Memorandum of Understanding (MoU) to Indian Coast Guard for coordination in the aeronautical & maritime search and rescue operations?
    A. National Law Commission B. Airport Authority of India C. Securities and Exchange Board of India D. National Human Rights Commission Answer: B

Q19. Who has been appointed Managing Director (MD) and CEO of Indian Overseas Bank?
    A. Ashok Vajpeyi B. Balan Nambiar C. Karnam Sekar D. Uttam Pacharne Answer: C

Q20. The Reserve Bank of India (RBI) set up an expert committee to suggest long-term solutions for the economic and nancial sustainability of the MSME sector. Who is the head of the expert committee?
    A. U K Sinha B. D P Agrawal C. Arvind Saxena D. Rajni Razdan Answer: A

Q21. Which of the following city hosted the India Steel 2019 Exhibition and Conference?
    A. New Delhi B. Pune C. Mumbai D. Bhopal Answer: C

Q22. Which of the following city hosted the 39th session of the Gulf Cooperation Council (GCC) summit?
    A. Manama B. Muscat C. Doha D. Riyadh Answer: D

Q23. The book ‘The Third Pillar — How Markets and the State leave the Community Behind’ is written by________.
    A. Anita Desai B. A Surya Prakash C. Raghuram Rajan D. David Grossman Answer: C

Q24. Under the Pradhan Mantri Shram Yogi Maan-Dhan scheme, Workers of the unorganised sector will receive how much Rupees pensions after attaining the age of 60 years?
    A. Rs. 3000 B. Rs. 1000 C. Rs. 6000 D. Rs. 1200 Answer: A

Q25. Which of the following social networking companies registered a new company named Libra Networks’ in Geneva, Switzerland?
    A. Google B. Yahoo C. Twitter D. Facebook Answer: D
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