Banking and Financial Awareness MCQ-Set 8

Banking and Financial Awareness MCQ- Set 8

Dear Readers, 

Enhance your preparation by following the Banking Articles and Daily Current Affairs Update from Achievers Rule. You can solve the Banking Awareness MCQ/Quiz set on a regular basis to examine your level of preparation. You may download the PDF files which are available here.

Q1.What do you mean by 'Flat Money' ?
A.It is the currency backed by tangible assets
B.It is the currency backed by Government Guarantee
C.It is the currency backed by gold reserves
D.It is the currency backed by NPA
E.It is the currency backed by budgetary support

Q2.Core banking infrastructure is done by which of the following ?
A. IBA
B. SIDBI
C. NABARD
D. RBI
E. SEBI

Q3.What do you mean by Gross Domestic Product ?
A.Market value of all final goods and services within a country
B.Cost of production of all final goods and services within a country
C.Cost of services within a country in a year
D.Market value of all final goods and services within a country in a year
E.None of these

Q4.What do you mean by Factoring ?
A.It is the arrangement to raise a short term money against the prepaid expenses
B.It is the method to discount the long term bills
C.It is the process of selling of account receivables as per contract for cash payment to a factor before it becomes due
D.It is the easy way to raise capital from a factoring company by a small business
E.None of these

Q5.Which organization of the following can avail the Refinance Facility ?
A.State Co-operative Banks
B.RRBs
C.Commercial Banks
D.State ADFCs
E.All of these

Q6.In India, largest share of GDP comes from which of the following sectors ?
A.Defense Sector
B.Agricultural Sector
C.Service Sector
D.Manufacturing Sector
E.None of these

Q7.Who sets up 'Base Rate' for Banks ?
A.Individual Banks Board
B.RBI
C.SEBI
D.Interest Rate Commission of India
E.None of these

Q8.What is known as the Bank advances of a bank ?
A.Non Performing Assets
B.Overdrawn accounts
C.Bad debts
D.Out of order accounts
E.None of these

Q9.Human Development Index is indicated by which of the following ?
A.Total area of Agricultural Land with family
B.Life Expectancy at Birth
C.Nature of Employment
D.Total Cost of Agricultural Land
E.None of these

Q10.Who are benefited by the Reserve Mortgage Scheme ?
A.Children
B.Govt. Employees
C.Industrialists
D.Senior Citizens
E.None of these

Q11.Government securities deal with which of the following in primary and secondary markets ?
A.Corporate Bonds
B.Primary Dealers
C.Secondary Dealers
D.Tertiary Dealers
E.None of them

Q12.Which of the following is reduced by the the higher growth rate of the economy ?
A.Poverty
B.Population of country
C.Gender Inequalities
D.Flow of FDI
E.None of these

Q13.IRR stands for which of the following ?
A. Internal Rate Ratio
B. Internal Rate of Recession
C. Internal Reserve Ratio
D. Internal Rate of Return
E. none of these

Q14.To avail the facility of locker, a customer have to pay which of the following?
A.Locker Rent
B.Safe Custody Charges
C.Commission on the locker
D.Only B and C
E.Only A and C

Q15.BR Act stands for which of the following ?
A.Bank Rule
B.Bank Regulation
C.Bank Reclaim
D.Bank Reserve
E.Bank Reformation