Wednesday, December 30, 2015

Banking Awareness Quiz Archives for IBPS Clerk Main Exam



1. Section 9 of the Banking Regulation Act prohibits the banking Companies from holding any immovable property except for its own use for a period of not more property. The RBI may extend this period for a further period of ______:
a) 2 years
b) 4 years
c) 5 years
d) 6 years
e) None of the above

2. Which of the following is not a function of General Insurance?
a) Cattle Insurance
b) Crop Insurance
c) Marine Insurance
d) Fire Insurance
e) Medical Insurance

3. Liability- side of the balance-sheet comprises:
a) Capital and reserve
b) Long-term liabilities
c) Current liabilities
d) All of the above
e) None of the above

4. Minimum cash reserves fixed by law constitute ___
a) A percentage of aggregate deposits of the bank
b) A percentage of aggregate loans and advances of the bank
c) A percentage of capital & reserves of the bank
d) All of the above
e) None of these

5. Which of the following types of accounts are known as "Demat Accounts"?
a) Zero Balance Accounts
b) Accounts which are opened to facilitate repayment of a loan taken from the bank. No
other business can be conducted from there
c) Accounts in which shares of various companies are traded in electronic form
d) Accounts which are operated through internet banking facility
e) None of the above

6. Mortgage is a:
a) Security on movable property for a loan
b) Security on immovable property for a loan
c) Concession on immovable property
d) Facility on immovable property
e) Security on loan sanctioned against fixed deposits

7. Identify the well known person related to Banking field in India from the following?
a) Mrs. Meira Kumar
b) Mrs. Kiran Shaw
c) Mr. Arun Jaitley
d) Dr. D subbarao
e) All of the above

8. Currency notes deposited in the currency chest are the property of ____?
a) Respective bank
b) RBI
c) SBI
d) Government of India
e) Respective state Government

9. A fixed deposit receipt is kept with the bank for its safety, is known as ___?
a) Safe custody
b) Safe deposit
c) Locker
d) Valid safe deposit
e) None of the above

10. Who among the following is the primary regulator of Banking business?
a) Reserve Bank of India
b) Central Government
c) State Government
d) Parliament
e) a and b both the above

12. The main business of banks is to accept deposits from the public. However, a bank can refuse to permit opening an account on behalf of _______:
a) Undesirable persons
b) Artificial persons
c) Arrested persons
d) Convicted persons
e) All of the above

13. Banks are required to monitor transactions of suspicious nature for reporting to the authorities under anti- money laundering measures. The purpose of reporting is:
a) Combating finance of terrorism
b) To check hawala transactions
c) To check the inflow of crime money
d) To check inflow of the money earned out of sale of narcotics
e) All the above

14. Acceptance of deposits by non - banking financial companies is regulated by RBI under:
a) Non - banking financial companies acceptance of public deposits (Revenue Bank) directions 1998
b) Non - banking financial companies acceptance of government deposits (Revenue Bank) directions, 1998
c) Non - banking financial companies acceptance of public deposits (Revenue Bank) directions, 1998
d) Non- banking financial companies acceptance of deposits money lenders (Revenue
Bank) directions, 1998
e) None of the above

15. If a company, which is not a non - banking financial company wants to collect public deposits, it is governed by ___ Act:
a) RBI Act 1934
b) Banking companies Act
c) Companies Act 1956
d) Central Government
e) None of the above

16. Companies whose main business is not financing or lending are permitted to accept deposits under section 45(s) of RBI Act only from:
a) Public
b) Relatives in the from of loans
c) Friends
d) All of the above
e) None

17. Every Banking company is required to use the word Bank in its name and no company other than a Banking company can use the words Bank, Banker or Banking as a part of its name as per:
a) Section 7 of Banking Regulation Act
b) Section 7 of RBI Act
c) Section 7 of SEBI Act
d) Section 7 of Nationalization Act
e) None of the above

18. In India, it is necessary to have license from the RBI for opening a new branch. This is a requirement under ____ Act
a) Section 22 of banking Regulation Act
b) Section 22 of RBI Act
c) Section 22 of NABARD
d) KYC Guidelines by RBI
e) a and b above

19. Section 6(A) of B.R. Act has given the list of ancillary services which can be rendered by a Bank under the Banking Regulation Act. in the event that a Bank wants to undertake any other services (other than the list):
a) the bank can seek authority from the RBI
b) Board of directors of that Bank can decide the business suitable to the bank
c) it can be decided by the Bank in the shareholders meeting
d) Bank can do so if that business is notified by the Central Government as the lawful business of a Banking company
e) None of the above

20. Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by:
a) Indian Contract Act
b) SARFAESI Act
c) Government Notification
d) Banking Regulation Act
e) None of these



ANSWERS:

1) c
2) e
3) d
4) a
5) c
6) b
7) d
8) b
9) a
10) a
12) a
13) e
14) a
15) c
16) b
17) a
18) a
19) d
20) d