Banking Awareness

1. What is the full form of NAV?
a) Net Actual Value
b) Net Annual Value
c) Net Asset Value
d) Net Average Value

2. Who issues 'Commercial Papers'?
a) A Company to a Bank
b) Banks to Banks
c) Banks to Companies
d) Company to its suppliers

3. What is the full form of SWIFT?
a) Safe Window for Interbank Financial Transactions
b) Safe Window In case of Financial Transaction
c) Society for Worldwide Interbank Financial Telecommunication
d) Safe Window Institute For Transactions

4. Which of the following is known as the concept of a standard contract to buy or sell a specified commodity at a certain date in future and at a market driven price?
a) Forward Contract
b) Futures Contract
c) Market Contract
d) Standard Contract

5. Which one of the following set up core banking infrastructure for rural banks?
a) IBA
b) NABARD
c) RBI
d) SIDBI

6. Which organization provides credit history of the borrowers?
a) CIBIL
b) CII
c) FRBI
d) IRDA

7. Which one of the following organisations has been set up to facilitate connectivity between the Bank's switches and their ATMs, and inter bank payment gateway for authentication and routing the payment details of various e-commerce transactions?
a) IBA
b) IDRBT
c) IRDA
d) SIDBI

8. Which is a tool that helps RBI to stabilize money supply and prices of Government securities?
a) EOQ
b) EPQ
c) JIT
d) OMO

9. Who regulates the Mutual Funds in India?
a) FRBI
b) SEBI
c) SIDBI
d) RBI

10. What is 'fiat money'?
a) The currency is backed by Government Guarantee
b) The currency is backed by tangible assets
c) The currency is backed by gold reserves
d) The currency is backed by budgetary support












Solutions

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

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