Banking Awareness Quiz For Upcoming Exam 2015

1.Who among the following is the responsible person to decide the quantity of the coins to be minted?
A. The Government of India
B. SEBI
C. RBI
D. None of these

2.Which of the following methods is currently used in India to issue note?
A. Percentage Reserve System
B. Fixed Fiduciary System
C. Minimum Reserve System
D. Roportional Reserve System

3.Under Bretton Woods System, as a member of IMF, India declared its par value of rupee in terms of______.
A. Australian Dollar
B. American Dollar
C. British Pound
D. Gold

4.From 25th September 1975, Rupee was de-linked from pound sterling and was linked to________.
A. US Dollar
B. Basket of Currencies
C. Gold
D. Dinar

5.On 1st March, 1992, Reserve Bank of India announced a new system of exchange rates known as_______.
A. Partial Convertibility
B. Liberalized Exchange rate system
C. Both A and B
D. None of these

6.In India, Fixed Fiduciary System of note issue was in force from________.
A. 1947 to 1954
B. 1890 to 1950
C. 1920 to 1947
D. 1816 to 1920

7.Which among the following statements is correct about soiled/mutilated note?
A. Banks are expected to offer this service even to non-customers
B. The RBI has also authorized all commercial bank branches to treat certain notes in ‘two pieces’ as soiled notes and pay exchange value
C. All banks are authorized to accept soiled notes across their countries and pay exchange value
D. All of the above

8.Among the following which were the first rulers in India to issue coins which can be definitely attributed to the kings?
A. Indo-Greeks
B. Kushans
C. Shakas
D. Parthians

9.The decimal system of note and coin issue was started in India in______-.
A. 1950
B. 1947
C. 1957
D. 1960

10.Under which section of the Reserve Bank of India Act, the RBI has the sole right of note issue?
A. 32
B. 28
C. 26
D. 22

ANSWERS

1.  (A)

2. (C)

3. (D)

4. (B)

5. (C)

6. (D)

7. (D)

8. (A)

9. (C)

10. (D)