Important Banking Awareness Quiz

1).Interest on saving bank account is now calculated by banks on________.
a) Minimum balance during the month
b) Minimum balance from 7th to last day of the month
c) Minimum balance from 10th to last day of the month
d) Maximum balance during the month
e) Daily product basis

2).A centralized database with online connectivity to branches, internet as well as ATM-network which has been adopted by almost all major banks of our country is known as __________.
a) Investment banking
b) Core banking
c) Mobile banking
d) National banking
e) Specialized banking
3).Which of the following is not considered a money market instrument?
a) Treasury bills
b) Repurchase Agreement
c) Commercial Paper
d) Certificate of deposit
e) Shares and bonds
4).Which of the following is not a part of the scheduled banking structure in India?
a) State Co-operative Banks
b) Public Sector Banks
c) Private Sector Banks
d) Regional Rural Banks
e) Money Lenders
5).Which of the following is known as Plastic money?
1) Demand Draft
2) Credit Card
3) Debit Card
a) Only 1
b) Only 2
c) Only 3
d) Both 2 and 3
e) All 1, 2 and 3
6).Which of the following terms is used in the field of finance and banking?
a) Guage Pressure
b) Quantum number
c) Adjustment Credit
d) Absolute Zero
e) Single bond
7).Goods and Services Tax (GST), would replace which of the following taxes level at present?
a) Income tax
b) Corporate tax
c) Capital gains tax
d) Value-added tax (VAT)
e) All of these
8).Normally Banks accepts Fixed Deposits for a maximum period of________.
a) 5 years
b) 3 years
c) 7 years
d) 20 years
e) 10 years
9).IFRS stands for________.
a) International Financial Reporting Standards
b) Indian Financial Rating Standards
c) International Financial Rating Standards
d) Indian Functional Reporting Standards
e) None of these
10).KYC guidelines followed by the Banks have been framed on the recommendations of the_________.
a) Ministry of Home Affairs
b) Ministry of Rural Development
c) Indian Banks Association
d) Financial Intelligence Unit
e) Reserve Bank of India
Answers:
1). e) 2). b) 3). b) 4). e) 5). d) 6). c) 7). d) 8). e) 9). a) 10). e)