Banking Awareness basic questions

Q 1. One of the major challenges banking industry is facing these days is deliberate efforts of some people to
activities in circulation. Which act is passed to prevent this activity?
A. RBI Act.
B. Transactional Rights.
C. Prevention of Money Laundering Act.
D. The State Financial Corporations Act.

Q 2. What is the Full form of EFT, a system used for money transaction?
A. Electronic Fund Term.
B. Elegant Fund Transfer.
C. Electronic Fundamental Transfer.
D. Electronic Fund Transfer.

Q 3. Which organization provides guarantee to the exporters?
C. Export Credit Guarantee Corporation.
D.World Bank.

Q 4. Bank pays interest rate on saving account on which of the following term basis?
A. Montly basis only.B. Quarterly basis only.
C.  Daily basis.
D. Annual Basis.

Q 5. Which organization provides credit history of the borrowers?
A. CIBIL (Credit Information Bureau India Limited).
B. EXIM Bank.
C. SBI (State Bank of India).
D. SEBI (Securities and Exchange Board of India).

Q 6. A nationalized bank comes under which of the following category?
A. A private sector bank.
B. A public sector bank.
C. A foreign bank.
D. NBFCs (Non Banking Financial Corporations).

Q 7. Expand the term ALM, as used in Banking/Finance sector?
A. Asset Level Management.
B. Accounting Liability Management.
C. Asset Liability Management.
D. Advertisement Liability Management.

Q 8. What is the full form of the term LIBOR as used in Financial/Banking sector?
A. Limited Inter Bank Offered Ratio.
B. Liability Inter Bank Overseas Rate.
C. London Inter Bank Offered Rate.
D. London International Bank Offered Ratio.

Q 9. One single statement that depicts the financial position of a bank and/or business enterprise at a given point of time is called as-
A. Deposit withdrawal limit.
B. Saving Interest rate.
C. Balance Sheet.
D. Expenditure.

Q 10. When a customer draws a cheque on a bank-
A. it is mandate for all bank to pay.
B. it is not mandatory to pay by the issuing bank.
C. it is mandate on that bank only to pay.
D. it is mandate for the issuing employee of that bank to pay.

Q 11. The Reverse mortage scheme is launched to give benefit to which of the following groups of
A. Senior Citizens.
B. Adults Only.
C. Super Senior Citizens only.
D. Under 18 years of age.

Q 12. Expand the term FSDC which is used in financial sectors?
A. Financial Sustainability and Development Council.
B. Financial Stability and Development Corporation.
C. Fundamental Stability and Development Council.
D. Financial Stability and Development Council.

Q 13. What does the letter 'M' depict in the term SME as used in the financial world?
A. Money.
B. Minimum.
C. Maximum.
D. Medium.

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