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Banking Awareness Practice Set 5

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Banking Awareness Practice Set 5

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Banking Awareness is an important section in the employment related competitive exams in India. In particular, exams like IBPS, SBI and other bank related employment exams have banking awareness questions along with general awareness section. The Banking Awareness section primarily has questions related to the History of Banking, Banking Terms, Banking Products, Functions of Banks, Banks and their Taglines, Schemes, Committees related to Banking, Headquarters of Banks, most recent Banking News, Apps launched by Banks, New Schemes, Monetary Policies etc.
Banking Awareness Practice Set 5 article provides the list of several bank related questions to prepare aspirants of different competitive exams in India, primarily for banking related employment. The article Banking Awareness Practice Set 5 is very useful for different exams such as IBPS PO, Clerk, SSC CGL, SBI PO, NIACL Assistant, NICL AO, IBPS RRB, Railways, Civil Services etc.

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Q1. The securities offered for substitution by the market participants shall be of similar market value based on the latest prices published by the FIMMDA. What does D stands for in FIMMDA?
    A. Derivatives B. Dividend C. Differential D. Dynamic
Answer: A
Q2. Name of Annual Information Return (AIR) has now been changed to SFT. What does s stands for in SFT?
    A. Savings B. Systematic C. Statement D. Settled
Answer: C
Q3. What does R stands for in QR Code?
    A. Review B. Response C. Random D. Retrieval
Answer: B
Q4. What does P stands for in IAP with respect to UPI?
    A. Processing B. Payment C. Progress D. Primary
Answer: B
Q5. What does B stands for in APBS?
    A. Biometric B. Basic C. Bundled D. Bridge
Answer: D
Q6. Reserve bank of India has the sole right to issue banknotes in India is defined in the _____ of The Reserve Bank of India Act, 1934
    A. Section 22(1) B. Section 24(1) C. Section 26(2) D. Section 32(1)
Answer: A
Q7. Government of India can print Re. 1 note and coins as per which act?
    A. RBI Act, 1934 B. Coinage Act, 2011 C. Paper Currency Act, 1861 D. FRBM Act, 2003
Answer: B
Q8. Offense of Money Laundering is defined under _____ of Prevention of Money Laundering Act 2002
    A. Section 2 B. Section 3 C. Section 5 D. Section 6
Answer: B
Q9. Obligations under Prevention of Money Laundering Act 2002 is defined under which section?
    A. Section 6 B. Section 8 C. Section 10 D. Section 12
Answer: D
Q10. Customer’ is defined under which Act?
    A. RBI Act, 1934 B. Banking Regulation Act, 1949 C. PMLA, 2002 D. Negotiable Instruments Act, 1881
Answer: C
Q11. The term ‘Banking’ is defined under _____ of Banking Regulation Act, 1949
    A. Section 4(a) B. Section 5(b) C. Section 6(c) D. Section 7(a)
Answer: B
Q12. Which section of Banking Regulation Act defines that no person other than a bank is authorized to accept deposits withdrawable by cheque?
    A. Section 19A B. Section 29A C. Section 39A D. Section 49A
Answer: D
Q13. Procedure for amalgamation of banking companies is defined under section ____ of Banking Regulation Act, 1949.
    A. Section 44A B. Section 45A C. Section 46A D. Section 47A
Answer: A
Q14. Promissory notes is defined under which section of Negotiable Instruments Act 1881?
    A. Section 4 B. Section 5 C. Section 6 D. Section 7
Answer: A
Q15. Bill of exchange is defined under which section of Negotiable Instruments Act 1881?
    A. Section 4 B. Section 5 C. Section 6 D. Section 7
Answer: B


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