Banking and Financial Awareness - Part 12

Daily Banking and Financial Awareness Quiz - Part 12

Effective For SBI PO - IBPS PO - Bank Exams - Insurance Exams

Dear Reader, 

As SBI PO/CLERK, IBPS PO/CLERK Prelims & Mains Exams is scheduled tentatively in the month of May to December. Start daily practice for your upcoming Banking Exams.  It will help you to boost your score. In this section you will get daily 15 questions in the form of Multiple Choice Questions (MCQs).

Q1. Power of Attornety refers to?
A. An authority to operate a bank account
B. An instrument by which a person is empowered to act for another person
C. Power of another person
D. All of 1, 2 and 3
E. None of these

Q2.Which of the following is the major function of an ATM installed by bank ?
A. To transfer money from one place to another
B. To distribute cash by way of withdrawl from-ones account
C. To detect fake currency notes
D. To arrange currency notes in serial order
E. None of these

Q3.What is the full form of LIBOR ?
A. Local Indian Bank Offered Rate
B. London Inter- Bank Offered Rate
C. Liberal-International Bank Official Ratio
D. London India Bueau of Regulations
E. None of these

Q4. Whose signature are there on the notes from two to thousand rupees?
A. The Governor of RBI
B. The Deputy of India
C. The President of India
D. The Finance Minister
E. None of these

Q5.Whenever a bank return a cheque unpaid then what that cheque is called ?
A. Honour Cheque
B. Returned Cheque
C. Dishonour Cheque
D. Application Cheque
E. None of these

Q6.The banking company has restriction sanction loan to ?
A. Staff working in the bank
B. RBI staff
C. Director of the bank
D. All of the above
E. None of the above

Q7.A currency, the exchange value of which performance by its economy is ?
A. Soft currency
B. Hard currency
C. Fiat currency
D. Hot currency
E. None of these

Q8.At which of the following levels central co-operative banks in India are established ?
A. State level
B. District level
C. Central level
D. Local or town level
E. None of these

Q9.BSBDA stands for ?
A. Basic Saving Bank Dual Account
B. Base Saving Bank Deposit Account
C. Basic Saving Bank Deposit Application
D. Basic Saving Bank Deposit Account
E. None of these

Q10.In the openign of saving account (new other account also), bank ask to write nominee name, who shall be nominee ?
A. Any person
B. Known Person only
C. Female only
D. Close blood relation only
E. None of these

Q11.Which of the following is a capital market instrument ?
A. Commercial papers
B. Certificate of deposits
C. Treasury bills
D. All of these
E. None of these

Q12.PAN stands for ?
A. Permanent Account Number
B. Pin Account Number
C. Permanent Assured Number
D. Permanently Accounting Number
E. None of these

Q13.What is the term used for the practice of replacing the high cost debt with that of lower cost borrowing to take advantage of falling interest rates ?
A. Derivative
B. Debt Swap
C. Credit enhancement
D. Credit risk management
E. None of these

Q14.The RBI has suggested dilution of government shareholding in public sector banks in the context of requiring additional capital to implement the Basel - III norms. According in the public sector banks cannot fall below ?
A. 49%
B. 51%
C. 74%
D. 50%
E. None of these

Q15.Ad valorem tax is levied on the basis of which among the following ?
A. Volume
B. Value
C. Production
D. Export
E. Import