Insurance Awareness - GK

1.Which of the following offerings is not a service?

Fixed Deposit Receipt 

Postage Stamp 

Gift coupon of a chain share

Insurance policy

2.Home loans are granted to

Individuals Institutions Builders Above all

3.A call means

Calling on friends 

Calling on bank employees 

Calling on prospective customers 

To make telephone calls

4.Financial Inclusion means

Opening accounts of finance companies 

Financial analysis of balance sheet figures

Opening accounts of HNIs

Opening accounts of underprivileged persons

5.'Benchmark' means

Products lined upon a bench 

Salesmen sitting on a bench 

Set standards

All of the above

Banking and Economy

1.The tertiary sector of economy is called

Manufacturing Industry 

Service Industry

Agro and Fishing Industry

All of the above

2.FDR is

Fix Date Rate Fixed Deposit Receipt Full Date Rate All of the above

3.NBA stands for

Net Banking Assets 

Net Book Act 

National Banking Act

National Banking Association

4.Which among the following are called final accounts of a Bank?

Trading Accounts, Profit and Loss Account and Balance Sheet 

Profit and Loss Account and Balance Sheet 

Balance Sheet Only 

All of the above

5.What is the full form of ECB?

Extra Commercial Banking 

Extra Commercial Borrowings 

External Commercial Borrowings 

All of the above

INSURANCE AWARENESS QUESTIONS & ANSWERS

1.In Bullion Market

Gold is purchased and sold

Books are purchased and sold

Animals are purchased and sold 

None of these

2.Non-Banking assets include

Property seized by the bank

Auction sale of the customer's property

Band Building 

Both A and B

3.Micro credit started from

USA India Bangladesh Japan

4.The Bank of Calcutta, Bank of Bombay and Bank of Madras were merged in 1921 to form

Imperial Bank of India

Reserve Bank of India

Bank of India

Union Bank of India

5.Production and consumption takes place at about the same time. This is a characteristic of

Manufacturing sector

Agriculture sector 

Service sector

All of the above

Insurance Awareness - GK

1.Whenever RBI does not open Market operation Transaction, actually it wishes to regulate which of the following?

Inflation only Liquidity in economy Borrowing powers of the banks Fow of Foreign Direct Investment

2.In economics, it is generally believed that the main objective of a Public Sector Financial Company like Bank is to

Employ more and more people 

Maximize total profits

Maximize total productions 

Provide financial service to the people of the nation of its origin across the country

3.In a Company, the use of price sensitive corporate information by the Company people to make gains or cover losses is known as

insider trading future trading foreign trading stock trading

4.Which of the following cannot be called as a debt Instrument as referred in financial transactions?

Certificate of Deposits Bonds stocks Commercial Papers

5.Which of the following Committees has given its recommendations on “Financial Inclusion"?

Rakesh Mohan Committee Rangarajan Committee sinha Committee None of these

GK and Banking Awareness

1.The RBI has given its permission for cash withdrawal at "POS terminals." What is the full form of "POS"?

Permitted on Sale Potential of Service Point of Sale Permission of Sale

2."The Doing Business Report" is prepared by which of the following organization every year?

Asian Development Bank World Bank International Monetary Fund World Trade Organisation

3."Yen" is the currency of

China south Korea North Korea None of these

4.A new Foreign Bank Sarasin & Co. has launched its operations in India recently.This is a bank based in:

USA Switzerland France None of these

5.The Head of the Reserve Bank of India is designated as the

Chief Executive Officer Managing Director Chief Banking Officer None of these

Banking and Insurance Quiz

1.Which of the following apex body and regulators has asked banks to swap customer related information so that the frauds and defaults may be prevented in future?

Bombay Stock Exchange (BSE) 

Indian Bank's Association (IBA) 

Securities & Exchange Board of India (SEBI)

Reserve Bank of India (RBI)

2.Who amongst the following is the author of the book (released recently) "India and Global Financial Crisis :Managing Money and Finance"?

Dr. Bimal Jalan

Dr. C. Rangarajan 

Dr. Manmohan Singh 

Dr. Y.V. Reddy

3.The Reserve Bank of India does not print currency notes of the denomination of

20/-

50/- 

3,000/- 

1,000/-

4.Which of the following is considered as the financial capital of India?

New Delhi 

kolkata 

Ahmedabad 

None of these

5."Micro Credit" means

Loans of small amounts to people in unorganized sector 

Loans to self Help Groups 

Loan amounting rs. 50 lakhs t rs 5 crores to Medium and Small Industries Units 

None of these

GK Insurance quiz

1.Which of the following is NOT the name of a multinational bank?

BNP Paribas

British Bank of Middle East 

Standard Chartered Bank

Cathay Pacific

2.Which of the following terms is NOT associated with banking operations?

Repo Rate

Prime Lending rate

Equator

Corporate Finance

3.Which of the following schemes was launched to promote exports of agricultural produce and their value added products in India?

Vishesh Krishi and Gram Udyog Yojana 

Financial Inclusion Scheme

Rastriya Krishi Vikash Yojana

None of these

4.As per the instructions given by the RBI, now all banks are required to provide which of the following in all its branches mandatorily?

Note Sorting Machines

Special Counters for senior Citizens

Service sector 

All of these

5.Which of the following terms is NOT used in the field of Banking & Finance?

Overdraft

Base Line

RTGS 

GBC

Insurance GK Questions

1.Which of the following services are not provided by a Bank?

Issuing Bank Drafts 

Deposting Money 

Sale of post cards and postal stamps 

Lockers for valueable items/ documents

2.The loan given by a bank to a person to purchase house is called

Project

Business Loan

Credit Loan 

Top up Loan

3.Which of the following is an example of cashless purchase?

ATM withdrawal 

Credit Card 

Debit Card 

All of these

4.Which of the following programmes has the Govt. of India launched to develop comprehensive rural infrastructure in the country?

Bharat Nirman 

Indira Aawas Yojana 

Watershed Development Programme

None of these

5.The name of which of the following great leaders is now associated with National Rural Employment Guarantee Scheme?

Indira Gandhi 

Mahatma Gandhi 

Jawaharlal Nehru 

None of these

Banking Awareness Questions

1.Which of the following terms is used in banking and finance?

Abiotic

Demand Deposit

Fat scales

A diabetic

2.Names of which of the following rates/ratios cannot be seen in financial newspapers?

Bank rate

Repo Rate

Cash Reserve Ratio

Pulse Ratio

3.Who amongst the following can take benefit of the Social Security Fund established by the Govt. of India for unorganized workers?

Primary school teacher

Employee of Sugar Factory

Taxtile Mazdoor

Rickshaw Puller

4.Who amongst the following was never a Governor of the RBI ?

Bimal Jalan

Y.V. Reddy 

Arup Roy Choudhary 

D. Subbarao

5.Which of the following in NOT the name of a bank having branches in India?

State Bank of India

Naively Lignite Corporation

Barclays

HSBC

Insurance GK Questions

1.What does Collateral Security mean?

Securities in the form of goods pledged for Cash Credits 

Securities given to banks for loans against approved securities 

Securities in the form of shares blue chip companies

Security given to banks over and above the primary security

2.When trading takes place among members of a stock Exchange as create false volumes and rigging the prices of shares, it is known as

Spot Trading

Future Trading

Circular Trading

Insider Trading

3.When two parties make an arrangement to exchange future cash flows, it is called

Options

Arbitrage

Swap

Futures

4.Exporters in India get insurance cover and risk cover from which of the following organizations?

SIDBI

NABARD

ECGC 

RBI

5.The govt. of India does not provide and direct financial assistance to which of the following schemes?

Mahatma Gandhi National Rural Employment Guarantee scheme.

Rural Health mission 

India Aawas Yojana

Jeevan sathi Yojana

INSURANCE AWARENESS QUESTIONS & ANSWERS

1.SGL Account is

Subsidiary General Ledger

It is maintained by public Debt Office of RBI 

Banks maintain exclusively GOvernment Securities Accounts All of the above

2.Know Your Customer (KYC) guidelines are as per the provisions of

Section 35 of Negotiable Instruments Act, 1881 

Section 35A of Banking Regulation Act, 1949

Section 35A of RBI Act, 1934 

IBA guidelines

3.Maximum period for which a commercial paper can be issued is

3 months

6 months

1 year 

2 years

4.Out of the "non-customer facing activities" given below, which of the following has been moved out of the branch to the maximum extent?

Issue of demand drafts 

Processing of loans 

Clearing of cheques 

Opening of Savings Accordingly, the three

5.What does "Round Tripping" in Foreign Direct Investment (FDI) relate to?

Using FDI funds inside the country

Using FDI funds outside the country 

Domestic funds used outside the country 

None of the above

Insurance GK Questions

1.The creation of over the counter exchange of India (OTC) would help the introduction of a multi-tiered

Exports 

Securities

Small Scale Industries

Housing

2.Truncation of cheque means

The cheque in the paper form will be retained by the collecting banker and he will submit only a computerised statement to the Clearing House

Entire clearing operations would be done only through computers

Cheque will be scanned and the electronic image, instead of physical cheque, will be transmitted in the clearing cycle

Debiting the drawer's account through internet banking

3.What is a convertible Bond?

It is a mix of Debt and Equity

Bond holder has an option to convert debt into equity on a fixed date

The conversion price is predetermined 

All of the above

4.What are External commercial Borrowings?

Indian companies can borrow on global market through Bank loan or issue of debt paper 

The debt can be repaid by reconversion of rupee funds into foreign currency 

A and B both 

None of the above

5.What is Gilts?

Securities issued by government or Treasuries 

They do not have any credit Risk 

A and B both

None of the above

Banking and Insurance Quiz

1.Currency Chest Slip is serially numbered at the beginning of each year from

January to December 

March to April 

April to march

July to June

2.Difference between buying and selling rates of a currency is known as

Forward Rate 

Bid-ask Rate 

Spot Rate 

None of these

3.EEFC account can be opened in the form of

Current Account, SB Account and TDR 

Current Account and SB Account 

Current Account only 

None of the above

4.Government securities are issued for a maximum period of

10 years 

15 years 

25 years 

30 years

5.The Securities and Exchange Board of India (SEBI), a statutory autonomous body, aims to

promote a fair and healthy securities market 

protect investor's rights 

prevent malpractices in a mobilisation of resources through capital 

all of the above

Banking and Economy

1.Which of the following organisations/ agencies controls the monetary policy of our country?

SEBI

Planning Commission 

RBI 

Union Ministry of Finance

2.Negative lien is

a right of the bank to take possession of all the assets hypothecated to the bank in the case of default by the borrower a special type of lien on the shares of public limited companies 

a declaration of the borrower to the effect that his assets are free from encumbrance and that he shall not encumber or dispose them of without bank's permission

None of the above

3.What is securitisation?

A process which converts conventional credit into tradable Treasure Assets 

Credit receivable of the Bank can be converted into Bonds, i.e. pass through certificates 

These certificate can be traded in the market 

All of the above

4.Busy Season Credit Policy refers to the period

February - August 

June - December 

March - September 

October -March

5.Consumer Protection Act, 1986 does not cover

failure to open accounts 

failure to issue drafts

sanction of loans

ATMs