Current Economics Quiz

1."Token money" means

coins where the value of metal in them is equal to the value attached to them by law 

coins where the value of metal in them is less then the value attached to them by law 

coins where the value of metal in them is more than the value of metal attached to them by law 

money represented by the tokens of specified values issued by the Reserve Bank of India

2."Bulls and Bears" term is used in

bullion markets vegetable markets stock exchange commodity markets

3.The definition of the priority sector was first formalised in 1972 by

Planning Commission National Development Council Reserve Bank of India Ministry of Finance, Government of India

4.Liquidity ratio is fixed by the Reserve Bank of India under the powers conferred on it by

Reserve Bank of India Act, 1934 Companies Act, 1956 Banking Regulation Act, 1949 Special Powers given by the Union Ministry of Finance

5.Dalal Street is in

Kolkata - famous for jute market Mumbai - famous for stock exchange market Delhi -famous for Kabari (Waste goods) market Bangalore - famous for race course

Banking and Insurance Quiz

1."Funded debt" means

all Government securities which are marketable on the stock exchange market 

all Government debt which is not marketable on the stock exchange market 

Government borrowings guaranteed by the Government 

Institutional borrowings guaranteed by the Government

2."Free port" denotes

a port where there are no restrictions on incoming and outgoing vessels 

a port where no licence is required for import of goods

a port which allows entry to goods without payment of import duty 

a port which allows free entry to goods which are to be re-exported

3."Free trade area" denotes

a group of countries which have decided to impose no duties of any kind on their imports 

a group of countries which have decided to impose no duties of any kind on imports from other members of the group 

an area where there are no restrictions of any kind on the trading activities 

an area where trade is free from kind of taxes

4."Floating debt" denotes

Government securities with no definite rate of redemption, but which may be redeemed any time at the discretion of the Government

that part of the public debt which consists of short- term borrowings by the Government 

Government securities which continue changing hands 

Government securities whose date of maturity falls within next five years

5."Treasury bills" means

salary bills drawn by Government officials on the treasury 

bills drawn by the Government contractors and other supplies on the treasury for the dues owed to them by the Government 

obligations of the Government of India issued by the Reserve Bank of India and payable normally ninety-one days after issue a node of drawings by the Treasury Officer on the Reserve Bank of India

General Insurance Quiz

1.The guarantor of a customer's account has the right to

inspect of a customer's account has the right 

be provided with the statement of the account

be informed only about the extent of his liability

be provided with all the information about the way the account is conducted

2.The term "Balance of Trade" means

A point where the values of imports and exports are equal 

The term is used with reference to bilateral trade agreements with the countries of CIS Block 

the difference between the cost of the imports and exports of a country

the difference between the total of transactions with foreign countries in trade, services and capital

3.The term "bank money" is used to denote

loans and advances granted by the commercial banks

demand deposits used as money, i.e., deposits withdrawable by cheques 

loans granted by the Reserve Bank of India to the commercial banks

money provided by the Reserve Bank of India to the Government

4."Multi - Currency basket" means

a number of international currencies to which the value of SDRs is linked 

selected international currencies to which the value of Asian Monetary Unit is linked 

number of major international currencies to which the external value of the Indian rupree is linked 

the name given to a group of West European currencies

5.The term "hyper - inflation" is used to denote

a situation with a moderate rise in price livel 

an inflationary situation where the external forces are the primary contributing factors 

a "runway" or "galloping" inflationary situation where the monetary unit becomes almost worthless

a situation where the cost of living index is rising alarmingly

Banking Awareness Questions

1.What are the main objectives of Consumer Protection Act, 1986?

To provide better protection of the interest of consumers Settlement of consumer disputes To deal with other connected matters All of the above

2.Pledge means:

advance against goods open working capital limits bailment to goods as security for payment of a debt or performance of a promise None of the above

3.SAARC was established on

December 8,1983 January 1, 1984 December 8,1985 January 1, 1985

4.NABARD was established on the recommendation of the:

Public Accounts Committee Shivaraman Committee Narsimhan Committee All of hte above

5.The Infrastructure Development Bank of India has its Headquarter in

New Delhi Mumbai Bangalore (Bengluru) Kolkata

Banking and Insurance Quiz

1.For the developing countries of Asia, the international agency which provides soft loans is

International Monetary Fund Asian Development Bank International Development Association World Bank

2.No license from RBI is required for

opening a new bank branch in India opening a new bank branch outside India shifting an existing branch outside the city, village or town shifting an existing branch within the same city, village or town

3.Commercial banks are unique among financial institutions because they

advance loans to business provide insurance to depositors create demand deposits hold saving deposits

4.Financial Year in banks is a period from

January to December May to June April to March January to April

5.“Pure Banking Nothing Else” is a slogan raised by

ICICI Bank HDFC Bank SBI UTI Bank

General Knowledge

1.Yuan is the currency of

Japan China Korea Indonesia

2.Which institution acts as reinsurer?

New India Insurance Life Insurance Company General Insurance Company United India Insurance

3.“Blue Card” denotes

a credit card a bebit card a proposition by EU to attract highly qualified professionals from other countries None of the above

4.The Headquarter of Asian Development Bank (ADB) is at

Singapore Manila Hong Kong Tokyo

5.Liquid assets means

Cash only Cash and debtors Cash and Debtors (except bad debts) Cash and Debtors (except bad debts) and Marketable Securities

General Insurance Quiz

1.“form 61‟ is associated with

persons not in receipt to taxable income persons with agricultural income Both A and B None of the above

2.Which one of the following is not correctly matched?

Rural Credit : NABARD Industrial : SIDBI Rural Poverty : SJSRY Disguised : Subsistence unemployment agriculture

3.“Red Clause “ Letter of Credit is

when opening bank advises the advising bank to give advance to the exporter when advising bank informs the opening bank about credit given to exporter all the clauses are printed in red None of the above

4.A bank normally does not have to deal with an issue related to

Payments and settlement system constractual rights of creditors intellectual property right cases of insolvency

5.Treasury bills are sold in India by

Reserve Bank of India State Governments Commercial Banks SEBI

Banking Awareness Questions

1.The “bank rate “ is

free to fluctuate according to the forces of demand and supply set by the Reserve Bank of India set by the Reserve Bank of India as directed as directed by the Union Ministry of Finance Set by the Reserve Bank of India as directed as directed by the Indian Banks’ Association

2.The term “exchange arbitrage “ is the

arbitration of exchange disputes simultaneous buying selling of foreign exchange to make a profit because interest rates vary in different countries simultaneous purchase of a currency in one market and its sale in another market wit a view to realize profit buying of foreign currency to realize a future profit when it appreciates

3.The law regarding negotiable instruments is contained in

The Bill of Exchange Act, 1881 The Banking Regulation Act, 1949 The Cheques Act, 1881 The Negotiable Instruments Act, 1881

4.“Black Revolution “ is associated with

Tea plantation Coffee Plantation Rubber Plantation Printing Ink

5.“Channel Financing” means:

Financing of supply-delivery chain, i.e. dealer of identified large corporate entities financed by banks Laying of agriculture canals Financing through NBFCs None of the above

Banking and Insurance Quiz

1.Expand “FINO”.

Fiscal Information Network Organization Financial Initiative for Network Operations Financial Information Network operation ltd None of the above

2.Expand “ LIBOR”.

London Inter-bank Offered Rate Legal Indian Borrowal Rate FEDAI Approved rates ID rate for PCFC

3.Expand “ NEFT”.

National Emergency Fund for Traders National Electronic fund Transfer National Emergency Fund Transfer National Electronic Financial Trust

4.Expand P.I.O” in relation to Right to Information, 2005.

Public Information Officer Principal Information Officer Press Information Officer None of these

5.Foreign Trade Policy is framed by

RBI EXIM Bank DGFT Ministry of Commerce

GK and Banking Awareness

1.In the matter of handling bills of exchange for collection, the relationship between customer and the bank is

trustee and the beneficiary Principal and agent bailor and bailee None of the above

2.A Scheduled bank is the one which

conforms to the requirement of schedule III of the Banking Regulation Act, 1949 has been declared as a scheduled bank by the Government of India has deposits exceeding Rs . 10 Crore has its name added to the second scheduled of the Reserve Bank of India Act, 1934

3.When a cheque duly signed by the drawer, with particulars written in a hand –writing different from that of the drawer id presented for payment stolen from the drawer and hence, the branch is put on enquiry.

the bank will refuse payment of the cheque as there is a distinct possibility of the cheque signed in blank having been the bank will make the payment provided the cheque is otherwise in order the bank will make payment only to the authorised representative of the drawer None of the above

4.The concept of "Narrow Banking" was recommended by

Khan Committee Nayak Committee Sodhani Committee Tarapore & Narasimham Committee

5.The level of activity at which total revenue cost equals total sale value or when there is a "no profit" or "no loss" situation, it is known as

Break Even Point Operating Profit Gross Profit Net Profit

Insurance Awareness - GK

1.The purpose of providing depreciation on the bank's property is

To reduce the profit of the bank to make usual allowances for annual wear and tear to enable the bank to recover this amount from the Reserve Bank of India to Strengthen the financial position of the bank

2.Bank Rate is

a rate of interest charged by the commercial banks from the borrowers for advances against Government Securities the lowest rate of interest charged by the commercial banks from the borrowers the rate at which the Reserve Bank of India would rediscount bills of exchange or other eligible commercial papers, the rate at which commercial banks discount bill of exchange for their customers.

3.In case of a Hindu Undivided Family, when Karta dies leaving overdraft account

old account is closed and a new account opened Fresh HUF letter is obtained all the co-partners will operate on the account None of the above

4.In the Balance Sheet of a bank, contingent liabilities are shown

on the liabilities side of the Balance Sheet by way of a deduction from the assets by way of a footnote in the Schedule on the assets side of Balance Sheet

5.When a cheque with forged drawer's signature is paid by the bank , the paying banker is

protected if the cheque is paid in good faith and without negligence protected if the forgery could not have been detected with the exercise of reasonable care and prudence not entitled to debit the drawer's account with the amount of the cheque liable to the drawer only if there has been no contributory negligence on the part of the drawer

Current Economics Quiz

1.Which of the following products launched by most of the banks help farmers in getting instant credit for various agricultural purpose ?

Kisaan Credit Card Personal Loan Business Loan None of these

2.Which of the following policies of the financial sectors is basically designed to transfer local financial assets into foreign financial asset freely at market determined exchange rates?

Capital Accounts Convertibility Financial Deficit Management Minimum Support Price None of these

3.Which of the following products of a bank is specifically designed to provide financial help to children in their higher studies in India or in a foreign nation?

Personal Loan Corporate Loan Educational Loan Mortgage Loan

4.Term Deposits Receipt is

transferable by endorsement and delivery transferable by assignment cannot be transferred not negotiable

5.The re-endorsement of unpaid bills of exchange in favour of the remitting bank or the accommodate to whom they are returned must be followed by the words

In case of need please refer to Without resource to us Payable at the State Bank of India None of the above

Banking Awareness Questions

1.Which of the following is the name of private sector Bank in India?

IDBI Bank Axis Bank Corporation Bank UCO Bank

2.In order to avoid crowding of customers wanting to withdraw cash in the branches, banks have provided many delivery channels. Which of the following is one of the most popular Channels of getting instant hard cash?

Core Banking Solution Pay orders Demand Drafts Automated Teller Machines.

3.Current accounts can be freely opened by

All NRIs All businessmen Government department HUFs

4.SIPs are an investment option also operated in the mode of

Mutual Funds Small Savings Schemes in Post Officers National Pension Fund National Saving Certificates

5.Who amongst the following has suggested to the banks in India to give details of fund transfer to customers via SMS/ E-mails?

Reserve Bank of India (RBI) India Bank's Association Indian Institute of Banking & Finance Securities & Exchange Board of India.

Banking and Insurance Quiz

1.Loan given by the banks to farmers/small shop owners etc. is known as

Corporate loan Business loan Priority sector loan Commercial Loan

2.The Head office of which of the following banks is in Mumbai ?

Punjab National Bank Bank of Maharashtra UCO Bank Union Bank of India

3.Which of the following is NOT a type of cheque issued by an individual?

Bearer cheque Order cheque Crossed cheque Savings cheque

4.What is Financial Inclusion ?

To provide a permanent employment to the unemployment To provide a 100 days job to all those who are in need of a job To provide banking services to all living in remote areas To ensure that all financial transaction amounting Rs. 5,000/- and above are done through banks.

5.Which of the following places in India does not have a stock Exchange?

Kolkata Ahmedabad Mumbai Udaipur

GK Insurance quiz

1."Working Capital Gap " means

Excess of current assets over current liabilities other than bank borrowings Excess of current assets over current liabilities including WCTL Excess of current assets over current Liabilities None of the above

2.By "Repository” we mean

Balance held in non-currency chest branch Same as currency chest a part of Currency Chest None of the above

3.Code of Bank's Commitment deals with our commitments in the area of

Sanction of advances Steps taken against Frauds Standard Banking practices in customer services None of the above

4.Currency Chest is the property of

State Bank of India Government of India Reserve Bank of India None of these

5.Which of the following rates decided by the RBI is called "Policy Rate "?

Lending Rate Cash Reserve Ratio Bank Rate Deposit Rate

General Insurance Quiz

1.When a Bank Guarantee is invoked by the beneficiary either in writing or by telex or telegram, the Bank issuing the Guarantee will

have to effect payment without delay or demur have to pay within three working days pay after being satisfied that the beneficiary suffered loss None of the above

2."Claused Bill of Lading" is the one which indicates

No defects in packaging or condition of goods defective condition of package and goods No documents attached to it None of the above

3."Cost Overrun" Means

Remaining constant in Project Cost Escalation in Project Cost Decrease in Project Cost None of the above'

4."Dark Block" is an area where

literacy rate is below 15 percent people below the poverty line are more than 90 per cent underground source of water is not available more than 85 per cent exploitation has taken place on the available underground water

5."Hedging" denotes

Protecting against fluctuations/ uncertainty risk in forex markets Credit risk assessment in respect of advances Speculative buying/selling of foreign currency None of the above

Financial Awareness Quiz

1.In NRE account, rate of interest is linked to

LIBOR Bank PLR RBI

2.In the money market operations , the item widely accepted is

Inter Bank Participation Certificate Certificate of Deposits Treasury Bills None of the above

3.To meet a significant increase in demand for bank credit, a bank may

Make use of excess reserves Borrow from other banks Borrow from the Reserve Bank of India All of the above

4."White Card” is a

Co-branded credit Card without logo of the issuer Credit Card wit logo of both issuer and sponsor Litchi Card issued i Uttaranchal Card used in football by the referee.

5.Under the Credit Guarantee Trust for Medium & Small Enterprises (CGTMSE), loans and advances to Educational Institution are

Covered Not covered CGTMSE is silent about covering the loans to Educational Institutions None of the above