1. Which of the following is correct regarding NITI Aayog?
a) NITI stands for National Institution for Transforming India
b) It replaced the Planning Commission
c) The Head Quarters is in New Delhi
d) The Chairperson of Niti Ayog is Narendra Modi
e) All the above
2. The advantages of Bank Mergers are:
a) Indian Banks can manage their liquidity - short term as well as long term - position comfortably
b) This will end the unhealthy and intense competition going on even among public sector banks
c) In the global market, the Indian banks will gain greater recognition and higher rating
d) For meeting more stringent norms under BASEL III, especially capital adequacy ratio, the larger banks need not struggle
e) All the above
3. What is the maximum period for which FCNR deposit can be opened?
a) One Year
b) Two Years
c) Three Years
d) Five Years
e) Ten Years
4. MIBOR is calculated everyday by the National Stock Exchange of India (NSEIL) as a weighted average of lending rates of a group of banks, on funds lent to first-class borrowers. MIBOR stands for:
a) Mumbai Inter Bank Offered Rate
b) Marginal Inter Bank Operation Rate
c) Most Important Inter Bank Offered Rate
d) Maintenance of Inter Bank Offered Rate
e) None of the above
5. The Policy on KYC guidelines has been framed on the basis of four core components. Which of the following in not core component?
a) Customer Acceptance Procedure (CAP)
b) Customer Identification Procedure (CIP)
c) Monitoring of Transaction
d) Risk Management
e) Management of Operational risk
6. A written commitment to pay by a buyer's or importer's bank (called the issuing bank) to the seller's or exporter's bank is called:
a) Letter of Guarantee
b) Authority Letter
c) Letter of Credit
d) Commitment Letter
e) Letter of Consent
7. Central Electronic Registry is being set up under the provisions of which act?
a) SARFAESI Act
b) DRT Act
c) Transfer of Property Act
d) Indian Contract Act
e) Negotiable Instruments Act
8. Which of the following can't be a nominee?
a) Illiterate Person
b) Minor
c) NRI
d) HUF
e) None of the above
9. Over financing by a bank to a borrower will lead to:
a) Poor operational control
b) Low inventory
c) Funds diversion
d) Increase in creditors
e) Lower sales with poor profits
10. Who is the present Managing Director and CEO of the National Stock Exchange (NSE)?
a) Vikram Limaye
b) Utpal Bora
c) Arvind Pangaria
d) R.K.Purwar
e) Gurdip Singh
11. As per which Act Banks are required to preserve old records?
a) Banking Regulation Act
b) RBI Act
c) Indian Contract Act
d) Negotiable Instruments Act
e) Bankers Book Evidence Act
12. The Marginal Standing facility (MSF) is a window for banks to borrow from the RBI in an emergency situation when interbank liquidity dries up completely. The present MSF is:
a) 5.50 percent
b) 5.75 percent
c) 6.25 percent
d) 6.50 percent
e) 6.75 percent
13. In case of dishonor of cheques for insufficiency of funds, the payee is required to issue notice to the drawer within ____ days to claim remedy under section 138 of NI Act.
a) 7 Days
b) 30 Days
c) One Year
d) Three Years
e) None of the above
14. Deduction of tax at source is to be done where interest payment is:
a) Rs. 5000 or above
b) Rs.10000 or above
c) Rs. 20000 or above
d) Rs. 25000 or above
e) None of the above
15. A Government Scheme that is available for providing health services in rural areas is:
a) NRLM
b) PMEGP
c) NULM
d) ASHA
e) MGNREGA
16. Which of the following statement is correct regarding equity holding of Post Payments Bank?
a) 100% GOI equity
b) 50% GOI and 50% RBI
c) 50% GOI, 25% RBI and 25% Postal Department
d) 50% Postal Department and 50% RBI
e) 50% GOI, 35% RBI and 15% Postal Bank
17. Goodwill if shown in your bank's balance sheet will appear in:
a) Fictitious assets
b) Wasting assets
c) Tangible assets
d) NonCurrent assets
e) None of the above
18. If PAN is not submitted to the bank by a depositor of Term Deposit and the interest is above Rs. 10,000, the tax will be deducted at source @ ______.
a) 12.5% in case of all assesses
b) 10.50% in case of all assesses
c) 20% in case of all assesses
d) 15% in case of all assesses
e) No tax need be deducted
19. The amounts payable to vendors/suppliers within one year is known as:
a) Debtors
b) Creditor
c) Accounts Payable
d) Current Assets
e) Intangible Assets
20. In financial market, we come across term 'gilt edged'. What does it mean?
a) Subscription receipts to any gold funds
b) Govt. Securities
c) Fixed Deposits
d) Commercial Paper
e) Certificate of Deposit
a) NITI stands for National Institution for Transforming India
b) It replaced the Planning Commission
c) The Head Quarters is in New Delhi
d) The Chairperson of Niti Ayog is Narendra Modi
e) All the above
2. The advantages of Bank Mergers are:
a) Indian Banks can manage their liquidity - short term as well as long term - position comfortably
b) This will end the unhealthy and intense competition going on even among public sector banks
c) In the global market, the Indian banks will gain greater recognition and higher rating
d) For meeting more stringent norms under BASEL III, especially capital adequacy ratio, the larger banks need not struggle
e) All the above
3. What is the maximum period for which FCNR deposit can be opened?
a) One Year
b) Two Years
c) Three Years
d) Five Years
e) Ten Years
4. MIBOR is calculated everyday by the National Stock Exchange of India (NSEIL) as a weighted average of lending rates of a group of banks, on funds lent to first-class borrowers. MIBOR stands for:
a) Mumbai Inter Bank Offered Rate
b) Marginal Inter Bank Operation Rate
c) Most Important Inter Bank Offered Rate
d) Maintenance of Inter Bank Offered Rate
e) None of the above
5. The Policy on KYC guidelines has been framed on the basis of four core components. Which of the following in not core component?
a) Customer Acceptance Procedure (CAP)
b) Customer Identification Procedure (CIP)
c) Monitoring of Transaction
d) Risk Management
e) Management of Operational risk
6. A written commitment to pay by a buyer's or importer's bank (called the issuing bank) to the seller's or exporter's bank is called:
a) Letter of Guarantee
b) Authority Letter
c) Letter of Credit
d) Commitment Letter
e) Letter of Consent
7. Central Electronic Registry is being set up under the provisions of which act?
a) SARFAESI Act
b) DRT Act
c) Transfer of Property Act
d) Indian Contract Act
e) Negotiable Instruments Act
8. Which of the following can't be a nominee?
a) Illiterate Person
b) Minor
c) NRI
d) HUF
e) None of the above
9. Over financing by a bank to a borrower will lead to:
a) Poor operational control
b) Low inventory
c) Funds diversion
d) Increase in creditors
e) Lower sales with poor profits
10. Who is the present Managing Director and CEO of the National Stock Exchange (NSE)?
a) Vikram Limaye
b) Utpal Bora
c) Arvind Pangaria
d) R.K.Purwar
e) Gurdip Singh
11. As per which Act Banks are required to preserve old records?
a) Banking Regulation Act
b) RBI Act
c) Indian Contract Act
d) Negotiable Instruments Act
e) Bankers Book Evidence Act
12. The Marginal Standing facility (MSF) is a window for banks to borrow from the RBI in an emergency situation when interbank liquidity dries up completely. The present MSF is:
a) 5.50 percent
b) 5.75 percent
c) 6.25 percent
d) 6.50 percent
e) 6.75 percent
13. In case of dishonor of cheques for insufficiency of funds, the payee is required to issue notice to the drawer within ____ days to claim remedy under section 138 of NI Act.
a) 7 Days
b) 30 Days
c) One Year
d) Three Years
e) None of the above
14. Deduction of tax at source is to be done where interest payment is:
a) Rs. 5000 or above
b) Rs.10000 or above
c) Rs. 20000 or above
d) Rs. 25000 or above
e) None of the above
15. A Government Scheme that is available for providing health services in rural areas is:
a) NRLM
b) PMEGP
c) NULM
d) ASHA
e) MGNREGA
16. Which of the following statement is correct regarding equity holding of Post Payments Bank?
a) 100% GOI equity
b) 50% GOI and 50% RBI
c) 50% GOI, 25% RBI and 25% Postal Department
d) 50% Postal Department and 50% RBI
e) 50% GOI, 35% RBI and 15% Postal Bank
17. Goodwill if shown in your bank's balance sheet will appear in:
a) Fictitious assets
b) Wasting assets
c) Tangible assets
d) NonCurrent assets
e) None of the above
18. If PAN is not submitted to the bank by a depositor of Term Deposit and the interest is above Rs. 10,000, the tax will be deducted at source @ ______.
a) 12.5% in case of all assesses
b) 10.50% in case of all assesses
c) 20% in case of all assesses
d) 15% in case of all assesses
e) No tax need be deducted
19. The amounts payable to vendors/suppliers within one year is known as:
a) Debtors
b) Creditor
c) Accounts Payable
d) Current Assets
e) Intangible Assets
20. In financial market, we come across term 'gilt edged'. What does it mean?
a) Subscription receipts to any gold funds
b) Govt. Securities
c) Fixed Deposits
d) Commercial Paper
e) Certificate of Deposit
