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Banking Awareness Quiz 2 – Practice Sets

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Banking Awareness Quiz 2 – Practice Sets

shape Introduction

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 Quiz 2 - Practice Sets 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 Quiz 2 - Practice Sets 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.

shape Quiz

Q1. Commercial Papers is issued by whom?
    A. Bank to Bank B. Bank to Company C. Company to Bank D. Supplier to Company E. Company to Supplier

Answer: Option A
Q2. Who has coined the term 'Gross National Happiness'?
    A. RBI B. World Bank C. Amartya Sen D. King of Bhutan E. Europian Union

Answer: Option D
Q3. Credit History of the Borrower is provided by which Organization?
    A. SEBI B. IRDA C. FRBI D. CII E. CIBIL

Answer: Option E
Q4. In Gross National Product, which of the following contributes the highest?
    A. Primary Sector B. Secondary Sector C. Tertiary Sector D. Private Sector E. Public Sector

Answer: Option C
Q5. Which of the following regulates the Mutual Fund?
    A. SIDBI B. FRBI C. RBI D. SEBI E. None of these

Answer: Option D
Q6. What do you mean by 'Flat Money'?
    A. It is the currency backed by tangible assets B. It is the currency backed by Government Guarantee C. It is the currency backed by gold reserves D. It is the currency backed by NPA E. It is the currency backed by budgetary support

Answer: Option D
Q7. Core banking infrastructure is done by which of the following?
    A. IBA B. SIDBI C. NABARD D. RBI E. SEBI

Answer: Option C
Q8. What do you mean by Gross Domestic Product?
    A. Market value of all final goods and services within a country B. Cost of production of all final goods and services within a country C. Cost of services within a country in a year D. Market value of all final goods and services within a country in a year E. None of these

Answer: Option D
Q9. What do you mean by Factoring?
    A. It is the arrangement to raise a short term money against the prepaid expenses B. It is the method to discount the long term bills C. It is the process of selling of account receivables as per contract for cash payment to a factor before it becomes due D. It is the easy way to raise capital from a factoring company by a small business E. None of these

Answer: Option C
Q10. Which organization of the following can avail the Refinance Facility?
    A. State Co-operative Banks B. RRBs C. Commercial Banks D. State ADFCs E. All of these
Answer: Option E
Q1. In India, largest share of GDP comes from which of the following sectors?
    A. Defense Sector B. Agricultural Sector C. Service Sector D. Manufacturing Sector E. None of these

Answer: Option C
Q2. Who sets up 'Base Rate' for Banks?
    A. Individual Banks Board B. RBI C. SEBI D. Interest Rate Commission of India E. None of these

Answer: Option B
Q3. What is known as the Bank advances of a bank ?
    A. Non Performing Assets B. Overdrawn accounts C. Bad debts D. Out of order accounts E. None of these

Answer: Option A
Q4. Human Development Index is indicated by which of the following?
    A. Total area of Agricultural Land with family B. Life Expectancy at Birth C. Nature of Employment D. Total Cost of Agricultural Land E. None of these

Answer: Option B
Q5. Who are benefited by the Reserve Mortgage Scheme?
    A. Children B. Govt. Employees C. Industrialists D. Senior Citizens E. None of these

Answer: Option D
Q6. Government securities deal with which of the following in primary and secondary markets?
    A. Corporate Bonds B. Primary Dealers C. Secondary Dealers D. Tertiary Dealers E. None of them

Answer: Option B
Q7. Which of the following is reduced by the the higher growth rate of the economy?
    A. Poverty B. Population of country C. Gender Inequalities D. Flow of FDI E. None of these

Answer: Option A
Q8. IRR stands for which of the following?
    A. Internal Rate Ratio B. Internal Rate of Recession C. Internal Reserve Ratio D. Internal Rate of Return E. none of these

Answer: Option D
Q9. To avail the facility of locker, a customer have to pay which of the following?
    A. Locker Rent B. Safe Custody Charges C. Commission on the locker D. Only B and C E. Only A and C

Answer: Option A
Q10. BR Act stands for which of the following?
    A. Bank Rule B. Bank Regulation C. Bank Reclaim D. Bank Reserve E. Bank Reformation
Answer: Option B
Q1. Which of the following is the unit of money whose face value and intrinsic value are equal?
    A. Flat Money B. Commodity Money C. Optional Money D. Full Bodied Money E. None of these

Answer: Option D
Q2. What is the full form of EMI?
    A. Equal Monthly Investment B. Equal Monthly Installment C. Easy Monthly Installment D. Equated Monthly Installment E. None of these

Answer: Option D
Q3. Regional Rural Banks are sponsored by which of the following?
    A. Reserve Bank of India B. NABARD C. Nationalized Commerce Bank D. Government of India E. None of these

Answer: Option C
Q4. Reserve Bank of India is established in which year?
    A. 1945 B. 1935 C. 1949 D. 1952 E. None of these

Answer: Option B
Q5. Which of the following is/are Optional Money?
    A. Bank Drafts B. Cheque C. Bills of Exchange D. Promissory Notes E. All of these

Answer: Option E
Q6. Which of the following bank was known as Imperial Bank of India before Nationalization?
    A. United Bank of India B. Dena Bank C. Punjab National Bank D. State Bank of India E. Vijaya Bank

Answer: Option D
Q7. Which of the following is called as Non-Legal Tender Money?
    A. Commodity Money B. Full Bodied Money C. Optional Money D. Paper Money E. None of these

Answer: Option C
Q8. Which of the following is not a Representative Money?
    A. Gold B. Silver C. Copper D. Tobacco E. None of these

Answer: Option E
Q9. Banking in India is controlled by which of the following ?
    A. Ministry of Commerce B. Ministry of Finance C. Reserve Bank of India D. NITI Ayog E. None of these

Answer: Option C
Q10. Which of the following is associated to teaser rates?
    A. Personal Loan B. Home Loan C. Auto Loan D. Education Loan E. None of these

Answer: Option B
Q1. Which of the following decides the Bank Rate?
    A. SEBI B. GOI C. SBI D. RBI E. NABARD

Answer: Option D
Q2. FCEB stands for which of the following?
    A. Foreign Currency Exchangeable Bond B. Foreign Currency External Bond C. Foreign Currency Export Bond D. Foreign Currency Exchange Bond E. None of these

Answer: Option A
Q3. Which of the following is a banking term?
    A. Zero Hour B. Sedimentary C. Output Devices D. Swapping E. De-mat

Answer: Option E
Q4. PSLC stands for which of the following ?
    A. Priority Sector Loan Certificates B. Priority Sector Lower Credit C. Priority Sector Lending Certificates D. Priority Sector Large Credit E. None of these

Answer: Option C
Q5. In which city the head office of RBI is located?
    A. New Delhi B. Lukhnow C. Kolkata D. Bengaluru E. Mumbai

Answer: Option E
Q6. Who regulates the insurance sector of India?
    A. AMFI B. IRDA C. RBI D. SEBI E. None of these

Answer: Option B
Q7. IDF stands for which of the following ?
    A. Interest Debt Fund B. Institution Debt Fund C. Investment Debt Fund D. Infrastructure Debt Fund E. None of these

Answer: Option D
Q8. SBI has entered in a joint venture with which of the following for undertaking general insurance business?
    A. LIC, India B. New India Assurance Ltd C. Insurance Australlia Group D. Allianz E. None of these

Answer: Option C
Q9. Credit Cards are known as which of the following?
    A. Easy Money B. Hard Money C. Soft Money D. Real Money E. Plastic Money

Answer: Option E
Q10. Which asset can be mortgaged?
    A. Book Debts B. Stock C. National Saving Certificates D. Land and Building E. Share

Answer: Option D
Q1. Crossing applies to which of the following instruments?
    A. Bills B. Cheques C. Fixed Deposit Reciepts D. Promissory Notes E. None of these

Answer: Option B
Q2. A savings bank account opened with a zero balance of minimum balance is known as which of the following?
    A. No frill account B. Current Account C. Call Deposit D. Savings-bank ordinary account E. None of these

Answer: Option A
Q3. NOF stands for which of the following?
    A. New Original Funds B. Net Owned Funds C. Net Origin Funds D. New Opened Funds E. None of these

Answer: Option B
Q4. Which of the following is not a classification of Scheduled Banks?
    A. SBI B. Nationalized Banks C. RRB D. Foreign Banks E. All of these

Answer: Option E
Q5. BFS stands for which of the following?
    A. Board for Financial Supervision B. Bureau of Financial Supervision C. BiLateral Financial System D. Board of Financial System E. None of these

Answer: Option B
Q6. NABARD was established in which year?
    A. 1983 B. 1985 C. 1981 D. 1982 E. 1986

Answer: Option D
Q7. In which year BFS was constituted?
    A. 1995 B. 1996 C. 1994 D. 1997 E. 1998

Answer: Option C
Q8. CSR stands for which of the following?
    A. Corporate Sector Responsibility B. Customer Satisfaction Responsibility C. Corporate Social Responsibility D. Corporate Social Reforms E. None of these

Answer: Option C
Q9. The member of BFS board is chaired by whom?
    A. Deputy Governor B. Finance Minister C. Prime Minister D. Governor E. Vice President

Answer: Option D
Q10. Who is the chairman of NABARD?
    A. Harsh Kumar Bhanwala B. Urjit Patel C. Raghuram Rajan D. Arundhuti Devi E. None of them

Answer: Option A
Q1. What is Microcredit?
    A. It is the amount given by Govt. for Small Industries Development B. It is the amount given to the students as education loan C. It is the small credit given to poor D. It is the installment given by Farmers against Loan E. None of these

Answer: Option C
Q2. Which of the following are the main products of Retail Banking?
    A. Card Products B. Deposit Products C. Loan products D. Only B and C E. All of these

Answer: Option E
Q3. LAF stands for which of the following?
    A. Least adjustment facility B. Liquidity adjustment facility C. Long adjustment facility D. Liabilities adjustment facility E. None of these

Answer: Option B
Q4. Who administered Monitary Policy?
    A. GOI B. SBI C. RBI D. State Governments E. None of these

Answer: Option C
Q5. Which of the following statements is/are true about Scheduled Bank?
    A. It is an institution which is notified by GOI B. It is a company defined by companies act, 2013 C. It is a corporation or company incorporated by the law in force in India D. It is included in the Second Schedule of Reserve Bank of India Act, 1934. E. All of these

Answer: Option E
Q6. Which of the following is related to Kapoor Committee, 1999?
    A. Micro-finance B. Capital Account Convertibility C. Restructuring of RRBs D. Co-operative Banking Reforms E. None of these

Answer: Option D
Q7. Which of the following deals with the small and medium enterprises?
    A. IFCI B. NABARD C. SIDBI D. RBI E. None of these

Answer: Option C
Q8. The Bank that begins with “U” is the tagline of which of the following bank?
    A. Union Bank of India B. UCO Bank C. United Commercial Bank D. United Bank of India E. None of these

Answer: Option D
Q9. The major stakes of NABARD is owned by whom?
    A. Central Government B. SBI C. Ministry of Finance D. RBI E. None of these

Answer: Option A
Q10. AEP stands for which of the following?
    A. Automated engineered payment service B. Aadhaar-enabled promotion scheme C. Aadhaar-enabled Payment system D. Aadhaar- enabled Payment scheme E. Aadhaar-enabled Payment Service

Answer: Option C
Q1. Who issues the Sovereign Gold Bond?
    A. Ministry of Finance B. GOI C. State Governments D. RBI E. None of these

Answer: Option D
Q2. DRI stands for which of the following?
    A. Different Rate of Interest B. Differential Rate of Interest C. Different Ration for Indians D. Different Rate of Interest-bond E. None of these

Answer: Option D
Q3. What is the minimum investment in SGB?
    A. Five Grams B. Four Grams C. Three Grams D. Six Grams E. One Gram

Answer: Option E
Q4. Which of the following banks offer loans to the poor to construct or buy houses?
    A. IIBI B. NHB C. IDBI D. SIDBI E. None of these

Answer: Option B
Q5. Which of the following Government Bodies carry out the appointments of the Banking Ombudsman?
    A. SEBI B. Govt. of India C. Finance Ministry D. RBI E. None of these

Answer: Option D
Q6. What do you mean by 'Tax Haven'?
    A. It is a country where people need not to pay Municipal tax B. It is a country where people can dump the illegal money without any problem C. It is a country where foreigners need not to pay any tax on their income D. It is a country where people need not to pay Luxury tax E. None of these

Answer: Option E
Q7. Which of the following is not included in the Priority Sector?
    A. Education Loan B. Agricultural Finance C. Life Insurance Policy D. Housing Loans E. None of these

Answer: Option D
Q8. Which of the following can be called as a non-institutional lender?
    A. It stands for 'Know Your Customer' B. It is the process of banking business identifying and verifying the identity of it's clients C. Its main purpose is to stop illegal money laundering D. It prevents identity theft and fraud E. All of these

Answer: Option C
Q9. In which city the head office of NABARD is situated?
    A. Small Banks B. Grameen Banks C. Money Lenders D. Credit Cooperative Socities E. Micro Finance Institutions

Answer: Option A
Q10. In which city, RBI does not have a regional office?
    A. Dated Securities B. Call or Put Option Bonds C. T- Bill D. Floating rate Bonds E. None of these

Answer: Option C
Q1. Which of the following terms is used in Banking and Finance?
    A. Scattering Loss B. Oscillation C. Revenue D. Shielding E. Line of Sight

Answer: Option C
Q2. 'Your Perfect banking Partner' is the Tag line of Which bank?
    A. Dena Bank B. Federal Bank C. UCO Bank D. SBI E. Vijaya Bank

Answer: Option B
Q3. The head office of Bank of Maharashtra is situated in Which of the following cities?
    A. Pune B. Mumbai C. Nasik D. Aurangabad E. Nagpur

Answer: Option A
Q4. To open a new Branch, a Bank must have the permit from RBI under which of the following acts?
    A. Section 22 of RBI Act B. Section 22 of SEBI C. Section 22 of NABARD D. Section 22 of banking Regulation Act E. None of these

Answer: Option D
Q5. A fixed deposit receipt which a bank keeps for its safety is known as which of the following?
    A. Safe Deposit B. Locker C. Valid Safe Deposit D. Safe Custody E. None of these

Answer: Option D
Q6. The head office of Vijaya Bank is situated in which city?
    A. Mumbai B. Pune C. Bengaluru D. Chennai E. Hyderabad

Answer: Option C
Q7. In which year the Credit Guarantee Corporation is created?
    A. 1974 B. 1971 C. 1975 D. 1978 E. 1999

Answer: Option B
Q8. In which city the biggest International Financial Center is located?
    A. London B. Geneva C. Paris D. New York E. Sydney

Answer: Option A
Q9. With which of the following organizations, the mutual funds should be registered?
    A. AMFI B. NABARD C. SEBI D. IBA E. RBI

Answer: Option C
Q10. Kelkar Committee is associated with which of the following?
    A. De listing in Share market B. Reformation of Company Law C. Frame work of Insurance Sector D. Tax Structure Reforms E. None of these

Answer: Option D
Q1. ADB stands for which of the following?
    A. Asian Development Bank B. American Development Bank C. Australian Development Bank D. African Development Bank E. None of these

Answer: Option A
Q2. The bank where the majority( more than 50%) stake is hold by Govt. is known as which of the following?
    A. Commercial Banks B. Government Banks C. Public Sector Banks D. Nationalized Banks E. None of these

Answer: Option C
Q3. Which of the following terms signifies the difference between the import and export of a country?
    A. Balance of payment B. Trade Sheet C. Credit Balance D. Balance of Trade E. Balance of Profit

Answer: Option D
Q4.'Together We Can' is the Tagline of which bank?
    A. Dena Bank B. Vijaya Bank C. Canara Bank D. IDBI Bank E. Uco Bank

Answer: Option C
Q5. In which year Indian Overseas Bank is Nationalized?
    A. 1968 B. 1972 C. 1964 D. 1966 E. 1969

Answer: Option E
Q6. RBI is going to launch which of the following currency notes for the first time?
    A. Rs. 300 B. Rs. 200 C. Rs. 70 D. Rs. 5000 E. None of these

Answer: Option B
Q7. Which of the following countries voluntarily contribute first to the UN Tax Fund to help the developing countries?
    A. China B. USA C. Russia D. India E. None of these

Answer: Option D
Q8. Which of the following is known as the Money loaned by a bank or other institution which is repayable on demand?
    A. Demand Loan B. Cash Credit C. Call Money D. Short Term Loan E. Long Term Loan

Answer: Option C
Q9. DHFL was set up in which year?
    A. 1992 B. 1979 C. 1986 D. 1988 E. 1981

Answer: Option D
Q10. Which of the following is/ are the advantage(S) that are offered to a SEZ?
    A. Exemption from Central Sales Tax B. Exemption from Service Tax C. Exemption from minimum alternate tax D. Full Income Tax exemption on export E. All of these

Answer: Option E
Q1.SEBI was set up in which year?
    A. 1988 B. 1984 C. 1992 D. 1996 E. None of these

Answer: Option C
Q2. Who is the President of ADB?
    A. Takehiko Nakao B. Raghuram Rajan C. Kristalina Ivanova Georgieva D. Thomas Jordan E. None of them

Answer: Option A
Q3. Which of the following statements shows the assets and liabilities of a business at a certain date.?
    A. Account Sheet B. Accounts Payable C. Balance Sheet D. Accounts Receivable E. None of these

Answer: Option C
Q4. How is the Interest on the savings bank accounts compounded?
    A. Yearly B. Half-yearly C. Monthly D. Daily E. None of these

Answer: Option D
Q5. Which of the following bodies determine Rates of Interest on deposits?
    A. Respective Bank B. SEBI C. IBA D. Government of India E. None of these

Answer: Option A
Q6. Which section of banking regulation act 1949 deals with the return of unclaimed deposits?
    A. Section 27 B. Section 26 C. Section 23 D. Section 21 E. None of these

Answer: Option A
Q7. Who is the Chairman of GST Council?
    A. Prime Minister B. President C. Finance Minister D. Governor General of India E. None of them
Answer: Option C
Q8. GST was passed through which Amendment Bill of the Constitution?
    A. 124 Amendment Bill, 2016 B. 120 Amendment Bill, 2016 C. 121 Amendment Bill, 2016 D. 122 Amendment Bill, 2016 E. None of these

Answer: Option D
Q9. NUUP stands for which of the following?
    A. Nationalized Uniform USSD Platform B. New Universal USSD Platform C. National Unified USSD Platform D. New Unified USSD Platform E. None of These

Answer: Option C
Q10. Which of the following taxes arebounded with GST?
    A. Entry Tax B. Luxury Tax C. Food Tax D. Entertainment Tax E. All of these

Answer: Option E
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