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Banking Awareness Quiz 2017 Latest IBPS Bank Online Questions & Answers

Banking Awareness Quiz

Candidates wish to make their Career in Banking Sector and going to appear in IBPS Exam they may get Banking Awareness Quiz through this page. In order to help in your preparation, here we are providing latest IBPS Bank Online Questions & Answers, so that you can score good marks in exam. Also we have covered some important & expected questions from Banking Awareness Quiz 2017. Today, online practice is a best way for any competition exam preparation. Take this online test quiz and increase your chance to clear the bank exam.

IBPS is also known as Institute of Banking Personnel Selection and it conducts series of Common Written Exams in a year – once for each of PO (General Banking Officer – GBO), Clerical (Single Window Operator – SWO), Specialist Officers for recruitment into Public Sector Banks and Regional Rural Banks to provide to need of organization and also to needs of job candidates. IBPS PO and Clerk Exam will be performed on two levels Tier 1 & 2 that is IBPS Preliminary Exam & IBPS Mains Exam. Shortlist aspirants in Preliminary Exam will be called for Main Exam and marks scored in mains exam will be for short-listing for interview. Final selection will be done on basis of their performance in Interview.

Participating Banks: Excluding SBI, nearly all the major Public Sector Banks are participating in the Common Written Examination. The 21 banks which are participating in the CWE are as follows:

  • Allahabad Bank
  • Andhra Bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Bharatiya Mahila Bank
  • Canara Bank
  • Central Bank of India
  • Corporation Bank
  • Dena Bank
  • IDBI Bank
  • Indian Bank
  • Indian Overseas Bank
  • Oriental Bank of Commerce
  • Punjab National Bank
  • Punjab & Sind Bank
  • Syndicate Bank
  • Union Bank of India
  • United Bank of India
  • UCO Bank
  • Vijaya Bank.

Today, online practice is a best way for any competition exam preparation. Here recruitmentresult.com provides you a 50 questions Online Practice Test for IBPS Bank preparation. Take this online test quiz and increase your chance to clear the exam. Our web portal is providing you to entire information related to Banking Awareness Quiz with all the IBPS Bank Online Questions & Answers as shown below:

Banking Awareness Quiz

Q.1. Who will settle the grievances of customers of banks?

(a) Reserve Bank of India

(b) State Bank of India

(c) Local Courts

(d) Ombudsman

(e) Governor of RBI

Answer: D

Q.2. The main function of commercial bank can be segregated into——-

I. Payment System

II. Financial intermediation

III. Financial services

Select the correct answer using the codes given below

(a) All I, II and III

(b) Only I and III

(c) Only I and II

(d) Only II and III

(e) None of the above

Answer: A

Also Check- How To Find Online Study Material

Q.3. Money laundering normally involved?

 

(a) placement of funds

(b) Layering of funds

(c) Integrating of fund

(d) All of the above

(e) None of the above

Answer: D

Q.4. Which of the following is the Central Bank of the country?

(a) RBI

(b) SBI

(c) RRB

(d) NABARD

(e) SEBI

Answer: A

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Q.5. Which of the following is not a negotiable instrument?

(a) Cheque

(b) Pay order

(c) Bill of Exchange

(d) All of the above are negotiable instruments

(e) Other than the given options

Answer: D

Q.6. Public Sector Banks are required to pay how much percentage of their net bank credit to Priority Sector in advance?

(a) 5%

(b) 7%

(c) 40%

(d) 15%

(e) None of the above

Answer: C

Read Here: Written Exam Techniques

Q.7. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises. As under a micro enterprise is an enterprise where investment in plant and machinery does not exceed?

(a) Rs. 100 lakh

(b) Rs. 15 lakh

(c) Rs. 25 lakh

(d) Rs. 50 lakh

(e) None of the given options is true

Answer: C

Q.8. Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. In which year Commercial Paper was introduced in India?

(a) 1975

(b) 1990

(c) 1985

(d) 1955

(e) 1980

Answer: B

Q.9. Which Bank of India maintains the Principal Accounts of Central as well as State Governments at its Central Accounts Section?

(a) IDBI

(b) SBI

(c) SIDBI

(d) NABARD

(e) RBI

Answer: E

Check This- How to prepare for Reasoning

Q.10. Who are eligible to issue Commercial Paper (CP)?

(a) Corporate

(b) Primary dealers (PDs)

(c) All-India Financial Institutions (FIs)

(d) All of the above

(e) None of the given options is true

Answer: E

Q.11. PSLCs are tradable certificates issued against priority sector loans of banks. What does meaning of “Cs” in PSLCs?

(a) Cash

(b) Cities

(c) Census

(d) Certificates

(e) None of the given options is true

Answer: D

Q.12. the errors that can be pointed out by the compiler are

  1. Syntax error
  2. Symantic error
  3. Logical error
  4. Internal error
  5. None of these

Answer: A

Awards And Honours Current Affairs

Q.13. The Banking Ombudsman Scheme is introduced under Section 35 (A) of the Banking Regulation Act, 1949 by RBI with effect from –

(a) 1995

(b) 1999

(c) 1990

(d) 1982

(e) 1988

Answer: A

Q.14. Who among the following heads the RBI Working group on boosting Export Finance?

  1. Govind Kumar Menon
  2. Mukul Mudgal
  3. Gopal Kundu
  4. G Padmanabhan
  5. None of these

Answer: D

Q.15. MTSS is a way of transferring personal remittances from abroad to beneficiaries in India. What does MTSS stand for-?

(a) Mobile Transfer Service Scheme

(b) Money Transfer System Scheme

(c) Money Timing Service Scheme

(d) Market Transfer Service Scheme

(e) Money Transfer Service Scheme

Answer: E

Q.16. Which of the following terms is used in the field of banking and finance?

  1. Investment
  2. Genetics
  3. Resistance
  4. Metabolic Reaction
  5. None of these

Answer: A

Check– Latest Current Affairs for Bank Exam

Q.17. How much cash can payment be made to the beneficiary in India under MTSS?

(a) Rs 2, 00,000

(b) Rs 50,000

(c) Rs 1, 00,000

(d) Rs 10,000

(e) None of the given options is true

Answer: B

Q.18. Which among the following committee is related with the issues and concerns in the Non-banking financial Companies (NBFCs) sector?

  1. Ragu Ram Committee
  2. Usha Thorat Comiittee
  3. Shome Committee
  4. Tarapore Committee
  5. None of these

Answer: B

Q.19. RDA is a channel to receive cross-border remittances from overseas jurisdictions. What does meaning of “A” in RDA?

(a) Account

(b) Assembly

(c) Arrangement

(d) Association

(e) Amount

Answer: C

Q.20. OS’ computer abbreviation usually means ?

  1. Order of Significance
  2. Open Software
  3. Operating System
  4. Optical Sensor
  5. None of these

Answer: C

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Q.21. The apex Bank of the USA is:

  1. Central National Bank of USA
  2. Federal Reserve Bank
  3. Bank of America
  4. Reserve Bank of USA
  5. None of these

Answer: B

Q.22. At present 24 nationalised banks and one private sector bank are authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004. Name the private sector bank, which is authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004?

(a) ICICI bank

(b) HDFC Bank

(c) Axis Bank

(d) Yes Bank

(e) Kotak Mahindra Bank

Answer: A

Q.23. Which of the following is/are correct about the ‘Operational Risk’ as used in the field of banking?

  1. Risk of loss due to inadequate or failed internal process.
  2. Risk of loss due to natural calamities.
  3. Loss occurred due to non compliance of legal procedures.

(a) Only A

(b) Only B

(c) Only C

(d) All of the above

(e) None of the above

Answer: A

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Q.24. SBI establishment day is celebrated on __________

(a) 3rd July

(b) 4th July

(c) 1st July

(d) 2nd July

(e) None of the above

Answer: C

Q.25. RBI revised the priority sector lending targets for RRB to ____________

a) 60%

b) 65%

c) 70%

d) 75%

Answer: D

Q.26. Which bank is shutting down its private banking business in India?

a) DBS Bank

b) Barclays Bank

c) HSBC Bank

d) Standard Chartered Bank

Answer: C

Q.27. CRISIL is a __________.

(a) Mutual Fund

(b) Credit Rating Agency

(c) Investment Bank

(d) Share Depository

(e) None of the above

Answer: B

Check Here: Latest Current Affairs

Q.28. Who amongst the following is the author of the book (released recently) “India and Global Financial Crisis: Managing Money and finance”?

(a) Dr. Bimal Jalan

(b) Dr. C Rangarajan

(c) Dr. Manmohan Singh

(d) Dr. Y. V. Reddy

(e) None of the above

Answer: D

Q.29. Under OLTAS, only a Single Copy Challan is used with a tear-off portion for the Tax Payer. What does OLTAS stand for-?

(a) On-line Tax Accounting Service

(b) On-line Tax Amounting System

(c) On-line Timing Accounting System

(d) On-line Tax Association Service

(e) On-line Tax Accounting System

Answer: E

Q.30. What is the minimum period of maturity prescribed for Commercial Paper (CP)?

(a) 17 Months

(b) 14 Days

(c) 01 Year

(d) 07 days

(e) 05 years

Answer: D

Q.31. Which banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC)?

(a) Foreign Banks functioning in India

(b) Local Area Banks

(c) Regional Rural Banks

(d) All of the above

(e) None of the given options is true

Answer: D

Q.32. What is the maximum period of maturity prescribed for Commercial Paper (CP)?

(a) 10 years

(b) 06 years

(c) 01 Year

(d) 02 years

(e) 05 years

Answer: C

Q.33. Each depositor in a bank is insured by DICGC upto a maximum of _____________________ for both principal and interest amount held by him in the same capacity and same right as on the date of liquidation/cancellation of bank’s licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.

(a) Rs.1, 00,000

(b) Rs.2, 00,000

(c) Rs.3, 00,000

(d) Rs.4, 00,000

(e) Rs.5, 00,000

Answer: A

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Q.34. Which of the following products launched by most of the banks help farmers in getting instant credit for various agricultural purposes?

(a) Kisan Credit Card

(b) Personal Loan

(c) Business Loan

(d) Only (a) and (b)

(e) None of the above

Answer: A

Q.35. Which of the following policies of the financial sectors is basically designed to transferring local financial assets into foreign financial asset freely and at market determined exchange rates?

(a) Capital Accounts Convertibility

(b) Financial Deficit Management

(c) Minimum Support Price

(d) All of the above

Answer: A

Q.36. A customer wishes to purchase some US dollars in India. He/she should go to?

(a) Public Debt Division of the RBI only

(b) American Express Bank only

(c) RBI or any branch of a bank which is authorised for such business

(d) Only (b) and (c)

(e) None of the above

Answer: C

Q.37. 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?

(a) Personal Loan

(b) Corporate Loan

(c) Educational Loan

(d) Mortgage Loan

(e) None of the above

Answer: C

Q.38. A Bank / Financial Organization these days rely heavily on e-commerce for its transaction. As a part of system security, it has introduced organization’s security awareness manual. This step of the organization can be classified under which one of the following categories of measures for a business?

(a) Preventive Vigilance

(b) Compliance

(c) Corrective

(d) Detective

(e) None of the above

Answer: A

Learn- List of Current Governors in India

Q.39. Commercial banks are the largest category of financial intermediaries; others include?

(a) Life-insurance companies

(b) Pension funds

(c) Savings and loan institutions

(d) All of the above

(e) Other than the given options

Answer: D

Q.40. An average citizen cannot open a Savings account in which of the following?

(a) Commercial bank

(b) Post office

(c) Co-operative bank

(d) RBI

(e) Other than the given options

Answer: D

Q.41. Educational for All Development Index is released by –

(a) IMF

(b) World Bank

(c) UNO

(d) WTO

(e) Other than the given options

Answer: C

Check This– Current Affairs Date Wise

Q.42. Base rate is the rate below which no bank can allow their lending to anyone. Who sets-up this ‘Base rate’ for banks?

(a) Individual Banks’ Board

(b) Ministry of Commerce

(c) Ministry of Finance

(d) RBI

(e) Interest Rate Commission of India

Answer: A

Q.43. The financial assistance of loans of Rs.10000 by bank to a small borrower will be called……….?

(a) Business finance

(b) Government finance

(c) Micro finance

(d) Small finance

(e) KYC finance

Answer: C

Q.44. Refinance facility is provided by NABARD. Which institutions can avail this facility?

(a) State cooperative banks

(b) Regional rural banks

(c) Commercial bank

(d) All of the above

(e) Other than the given options

Answer: D

Current Affairs New Appointments

Q.45. Non-Agricultural Market Access (NAMA) word is related to which organization?

(a) WTO

(b) UNCTAD

(c) IMF

(d) World Bank

(e) NDB

Answer: A

Q.46. SEBI is related to _________.

(a) Bank

(b) Government of India

(c) Share Market

(d) State Government

(e) Other than the given options

Answer: C

Q.47. The National Planning Council (NPC) was formed on 3rd February ______ to ensure coordination of planning functions of different sectors, to determine national priorities, to provide advice on long term development policies and strategies, to ensure sustainable development of the nation and to ensure balanced and equitable development at provincial level.

(a) 1996

(b) 2992

(c) 2012

(d) 2009

(e) 2002

Answer: D

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Q.48. Kisan Credit Cards are an effective way of reaching out to the farmers by the banks. What assistance does the farmer receive in this way?

(a) Credit facility for crops etc against an approved limit

(b) Short-term credit facility against value of his crops

(c) Long-term credit is provided against his land holdings

(d) Loan is permissible against crops sold, but payment yet to be received by the farmer

(e) Other than the given options

Answer: A

Q.49. Which of the following is true?

(a) NBFCs can accept deposits from the public

(b) NBFCs cannot offer deposit schemes to the public

(c) Deposits of NBFCs are insured with DICGC

(d) NBFCs can accept deposits from public if they are registered and permitted by RBI

(e) Other than the given options

Answer: D

Q.50. The Concept of ‘Universal Banking’ was implemented in India on the recommendations of:

a) Abid Hussai Committee

b) R H Khan Committee

c) S Padmanabhan Committee

d)YH Malegam Committee

Answer: B

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