GK Trick

Banking Awareness

1. Which among the following made the initial contribution for setting up Financial Inclusion Fund and Financial Inclusion Technology Fund?

a) Government of India, NABARD and RBI
b) NABARD, UTI and RBI
c) SIDBI, Government of India and IDBI Bank
d) SIDBI, NABARD and UTI

2. Which one of the following is known as the real return to the investor getting reduced due to sudden rise in the prices of the commodities?

a) Cost risk
b) Demand risk
c) Market risk
d) Systemic risk

3. Which among the following refers to misselling?

(i) When mutual funds are sold without telling the likely returns
(ii) When agents sell the products without telling investors what are the risks involved in investing in mutual funds
(iii) When agents invest somebody's money in mutual funds without their knowledge

a) Only (ii)
b) Both (i) and (iii)
c) All (i), (ii) and (iii)
d) None of the above

4. Which of the following is the correct definition of Hot Money?

a) This is the fund which is dumped into a country to get the advantage of a favourable interest rate

b) This is the fund which is provided by a bank in US $ at very short notice and at a very high rate of interest and for a longer period of repayment

c) This is the fund which is pushed into market through illegal methods

d) None of the above


5. What will bank customers pay for using safe deposit locker facilities?

a) Commission on locker
b) Exchange on locker
c) Rent on locker
d) Safe custody charges

6. Which one of the following is known as a Savings Bank Account opened with a commercial bank with zero balance or very minimal balance?

a) Current Account
b) No frill account
c) Savings Bank-ordinary Account
d) Students Savings Bank Account

7. What does the letter 'R' denote in the abbreviation 'BR Act' which controls banking activities in the country?

a) Reclamation
b) Reformation
c) Regulation
d) Rule

8. What is Mortgage?

a) A security created on immovable property for a deposit received by a bank

b) A security created on immovable property for a loan given by a bank

c) A facility created on movable property for a deposit received by a bank

d) A security created on movable property for a loan given by a bank

9. Which is the minimum lending rate decided by RBI which shall be adopted by all Public Sector Banks?

a) Bank rate
b) Base rate
c) Overnight rate
d) None of the above

10. Which one of the following depicts the financial position of a bank or business enterprise at a given point of time?

a) Balance sheet
b) Cash flow statement
c) Income statement
d) Model audit











Solutions

1.A
2.C
3.C
4.A
5.C
6.B
7.C
8.B
9.B
10.A









5 Banking and SSC : Banking Awareness 1. Which among the following made the initial contribution for setting up Financial Inclusion Fund and Financial Inclusion Technology Fund?...

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