21. NEFT means?
A. National Electronic Funds Transfer
B. Negotiated Efficient Fund Transfer system
C.National Efficient Fund Transfer solution
D. Non Effective Fund Transfer system
E.Negotiated Electronic Foreign Transfer system.
22. Distribution of insurance products and insurance policies by banks as corporate agents is known as?
A. General insurance
B. Non life insurance
C. Bancassurance
D. Insurance Banking
E. Deposit Insurance
23. In respect of partnership business, LLP stands for:
A. Local Labour Promotion
B. Low Labour Projects
C. Limited Loan Partnership
D. Longer Liability Partnership
E. Limited Liability Partnership
24.What is a stale cheque?
A. A cheque issued without drawer's signature.
B. A cheque with only signature of the drawer.
C. A cheque which has completed
3 months from the date of its issue.
D. Any one of the above.
E. None
25.Interest on savings bank account is now calculated by banks on?
A. Minimum balance during the month
B. Minimum balance from 7th to last day of the month
C. Minimum balance from 10th to last day of the month
D. Maximum balance during the month
E. Daily product basis
26. Largest shareholder (in percentage share holding) of a Nationalized bank is ?
A. RBI
B. NABARD
C. LIC
D. Govt of India
E. IBA
27. An account that can be opened by business organisations and also individuals is known as a?
A. Term deposit
B. Checking Account
C. Saving Bank deposit
D. No Frills Accounts
E. Current deposit
28. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as?
A. CHAPS
B. SWIFT
C. NEFT
D. SFMS
E. CHIPS
29. Buy now & pay later refers to?
A. Foreign Currency
B. Internet Banking
C. US Dollars
D. Traveler's cheques
E. Credit Cards
30. Which one of the following is not 'Money Market Instrument'?
A. Treasury Bills
B. Commercial Paper
C. Fixed Deposit
D. Equity Shares
E. None
31. Which one of the following is a retail banking product?
A. Home Loans
B. Working capital finance
C. Corporate Term Loans
D. All the above
E. None
32. Finance Ministry has asked the RBI to allow common ATMs that will be owned and managed by non-banking entities hoping to cut transaction costs for banks. Such ATMs are known as?
A. Black label ATMs
B. Offsite ATMs
C. On site ATM's or red ATMs
D. Third party ATMs
E. White label ATMs
33. Technological advancement in the recent times has given a new dimension to banks, mainly to which one of the following aspects?
A. New Age Financial Derivatives
B. Service Delivery Mechanism
C. Any Banking
D. Any type banking
E. Multilevel Marketing
34. Which of the following is NOT a function of the Reserve Bank of India?
A. Fiscal Policy Functions
B. Exchange Control Functions
C. Issuance, Exchange and Destruction of currency notes
D. Monetary Authority Functions
E. Supervisory and Control Functions
35. Which of the following is NOT required for opening a bank account?
A. Identity Proof
B. Address Proof
C. Recent Photographs
D. Domicile Certificate
E. None
36. What is the maximum deposit amount insured by DICGC?
A. Rs. 2,00,000 per depositor per bank
B. Rs. 2,00,000 per depositor across all banks
C. Rs. 1,00,000 per depositor per bank
D. Rs. 1,00,000 per depositor across all bank
E. None
37. The Biggest employee in the Private Banking Sector is?
A. ICICI
B. HDFC
C. AXIS Bank
D. YES Bank
E. None of these
38. With reference to a cheque who is drawee?
A. The bank that collects cheque.
B. The payee's bank.
C. The endorsee's bank.
D. The endorser's bank.
E. The bank upon which the cheque is drawn.
39. In which of the following fund transfer mechanisms, funds can be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction?
A. RTGS
B. NEFT
C. TT
D. EFT
E. MT
40. Banking Ombudsman Scheme is appli- cable to the business of ?
A. All Scheduled commercial banks excluding RRBs.
B. All Scheduled commercial banks including RRBs.
C. Only Public Sector Banks
D. All Banking Companies
E. All scheduled banks except private banks.
Answer:
21) A
22) C
23) E
24) C
25) E
26) D
27) A
28) B
29) E
30) C
31) A
32) E
33) B
34) A
35) D
36) C
37) C
38) E
39) A
40) B
A. National Electronic Funds Transfer
B. Negotiated Efficient Fund Transfer system
C.National Efficient Fund Transfer solution
D. Non Effective Fund Transfer system
E.Negotiated Electronic Foreign Transfer system.
22. Distribution of insurance products and insurance policies by banks as corporate agents is known as?
A. General insurance
B. Non life insurance
C. Bancassurance
D. Insurance Banking
E. Deposit Insurance
23. In respect of partnership business, LLP stands for:
A. Local Labour Promotion
B. Low Labour Projects
C. Limited Loan Partnership
D. Longer Liability Partnership
E. Limited Liability Partnership
24.What is a stale cheque?
A. A cheque issued without drawer's signature.
B. A cheque with only signature of the drawer.
C. A cheque which has completed
3 months from the date of its issue.
D. Any one of the above.
E. None
25.Interest on savings bank account is now calculated by banks on?
A. Minimum balance during the month
B. Minimum balance from 7th to last day of the month
C. Minimum balance from 10th to last day of the month
D. Maximum balance during the month
E. Daily product basis
26. Largest shareholder (in percentage share holding) of a Nationalized bank is ?
A. RBI
B. NABARD
C. LIC
D. Govt of India
E. IBA
27. An account that can be opened by business organisations and also individuals is known as a?
A. Term deposit
B. Checking Account
C. Saving Bank deposit
D. No Frills Accounts
E. Current deposit
28. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as?
A. CHAPS
B. SWIFT
C. NEFT
D. SFMS
E. CHIPS
29. Buy now & pay later refers to?
A. Foreign Currency
B. Internet Banking
C. US Dollars
D. Traveler's cheques
E. Credit Cards
30. Which one of the following is not 'Money Market Instrument'?
A. Treasury Bills
B. Commercial Paper
C. Fixed Deposit
D. Equity Shares
E. None
31. Which one of the following is a retail banking product?
A. Home Loans
B. Working capital finance
C. Corporate Term Loans
D. All the above
E. None
32. Finance Ministry has asked the RBI to allow common ATMs that will be owned and managed by non-banking entities hoping to cut transaction costs for banks. Such ATMs are known as?
A. Black label ATMs
B. Offsite ATMs
C. On site ATM's or red ATMs
D. Third party ATMs
E. White label ATMs
33. Technological advancement in the recent times has given a new dimension to banks, mainly to which one of the following aspects?
A. New Age Financial Derivatives
B. Service Delivery Mechanism
C. Any Banking
D. Any type banking
E. Multilevel Marketing
34. Which of the following is NOT a function of the Reserve Bank of India?
A. Fiscal Policy Functions
B. Exchange Control Functions
C. Issuance, Exchange and Destruction of currency notes
D. Monetary Authority Functions
E. Supervisory and Control Functions
35. Which of the following is NOT required for opening a bank account?
A. Identity Proof
B. Address Proof
C. Recent Photographs
D. Domicile Certificate
E. None
36. What is the maximum deposit amount insured by DICGC?
A. Rs. 2,00,000 per depositor per bank
B. Rs. 2,00,000 per depositor across all banks
C. Rs. 1,00,000 per depositor per bank
D. Rs. 1,00,000 per depositor across all bank
E. None
37. The Biggest employee in the Private Banking Sector is?
A. ICICI
B. HDFC
C. AXIS Bank
D. YES Bank
E. None of these
38. With reference to a cheque who is drawee?
A. The bank that collects cheque.
B. The payee's bank.
C. The endorsee's bank.
D. The endorser's bank.
E. The bank upon which the cheque is drawn.
39. In which of the following fund transfer mechanisms, funds can be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction?
A. RTGS
B. NEFT
C. TT
D. EFT
E. MT
40. Banking Ombudsman Scheme is appli- cable to the business of ?
A. All Scheduled commercial banks excluding RRBs.
B. All Scheduled commercial banks including RRBs.
C. Only Public Sector Banks
D. All Banking Companies
E. All scheduled banks except private banks.
Answer:
21) A
22) C
23) E
24) C
25) E
26) D
27) A
28) B
29) E
30) C
31) A
32) E
33) B
34) A
35) D
36) C
37) C
38) E
39) A
40) B
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