BC / BF EXAM (IIBF) Series - 3 ( PROBABLE QUESTIONS AND ANSWERS )

41. A minor has a deposit account which is operated by his father & natural guardian. If the latter dies, who can receive the proceeds during the minority of the minor?

a. Minor himself            
b. grandfather          
c. court appointed guardian  
d. None of these

42. What is the maximum number of HUFs which can become partners in a partnership firm?

a. 2          
b. 3     
c. 10   
d. HUFs cannot become partner in a partnership firm

43. There is a current account in the name of a trust. The nomination in this account can be allowed if the nominee is a:

a. Trustee          
b. Person named in the trust deed         

c. Manager         
d. Nominee cannot allowed

44.  The credit policy decision is taken by a committee headed by the

a.    Finance Minister

b.    RBI Governor

c.     Deputy Governor of RBI

d.    Executive Director of RBI in charge of credit policy department

e.    Finance Secretary to GoI

45.  The following is a mechanism for injection of liquidity by RBI to the financial system

a.    Repo

b.    Reverse Repo

c.     Hike in CRR

d.    Hike in interest rate

e.    None of the above

 46. Which of the following is true for a Repo transaction?

a.    Repo is the acronym of Repurchase

b.    In a Repo transaction a bank borrows money for the short term by selling securities (to RBI) with the condition to buy back the same after the agreed period.

c.     The securities which are eligible for repo/ reverse repo facility are GoI dated securities, T bills and state development loans.

d.    Presently Repo rate is 6.75%

e.    All of the above

47. Open Market operation means

a.    Providing finance to priority sector

b.    Speculative activities

c.     Buying & selling of securities by RBI

d.    Debt waiver

e.    Selling of CPSU shares in stock exchanges like NSE and BSE

 48. We should keep our savings with banks because

a) It is safe

b) Earns interest

c) Can be withdrawn anytime

d) All of above

49. Bank does not give loan against

a) Gold Ornaments

b) LIC policy

c) Lottery ticket

d) NSC

50. Bank having maximum number of branches in India

a) Reserve Bank of India

b) State Bank of India

c) Punjab National Bank

d) Bank of Baroda

51. 100/- Rupee note is signed by

a) Prime Minister

b) Finance Minister

c) RBI Governor

d) None of above

52. ATM password should be kept in

a) Personal diary

b) Office diary

c) Memory

d) All of above

53. ATM password to be shared only with

a) Spouse

b) Obedient son

c) Obedient daughter

d) None of above

54. Nomination can be done in

a) Savings Bank account

b) Recurring Deposit account

c) Fixed Deposit account

d) All of above

55. Who is the present Governor of RBI?

a) K.C. Chakrabarty

b) Montek Singh Ahluwalia

c) Raghuram Rajan

d) None of these

56. Which of the following bank’s share are on hand of Public which are more than 50% .

a) State Bank of India

b) Punjab National Bank

c) Bank of Baroda

d) None of above

 57. Minimum age required to open SB account in the bank

a) 8 years

b) 10 years

c) 12 years

d) None of above

58. Bank does not provide loans for

a) Crop loans

b) Education loans

c) Home loans

d) Drinking & Gambling

59. KYC means

a) Know your customer

b) Know your character

c) Both of above

d) None of above

60. Loans from money lenders are

a) With High rate of interest

b) No proper accounting

c) No transparency

d) All of above

ANSWERS : -

41.C      42.  D   43.D      44.B        45.B     46.E       47. C      48. D    49. C   50.B  51.  C  52.  C    53.  D    54. D      55.  D   56. D     57.B      58.D       59.  A   60. D 

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