BC / BF EXAM (IIBF) Series -21 ( PROBABLE QUESTIONS AND ANSWERS )

Q1. Which means offering all banking products and services (both fee-based and fund based services)under one roof and banks are making lower profit margins on their lending business with increased competition *

A.      Financial Inclusion

B.      Agricultural Banking

C.      Universal Banking

D.      Electronic Banking

Q2.Which of the below mentioned is a feature of RuPay Card *

A.      Magstripe/CHIP

B.      Aadhaar and Non-Aadhaar variants

C.      The transaction can be done at ATM/Micro ATM/Online

D.      All of the above

Q3. Self Help Group involves *

A.      Group of 5 to 20 people

B.      Regular savings habits

C.      Inter-lending within the group members

D.      All of the above

Q4. A loan for a refrigerator is granted against the security of: *

A.      Pledge of the item financed

B.      Hypothecation of the item financed

C.      Mortgage of the item financed

D.      Mortgage of all assets of the borrower

Q5. Bancassurance is *

A.      an insurance scheme to insure back deposits

B.      an insurance scheme exclusively for the employees of banks

C.      a composite financial service offering both banks and insurance products

D.      a bank deposit scheme exclusively for employees of insurance companies

Q6. Which deposit is also known as Flexi deposits *

A.      Demand deposits

B.      Term deposits

C.      Hybrid deposits

D.      None of the above

Q7. Which are repayable on the fixed maturity date along with the principal and agreed Interest rate for the period? *

A.      Recurring Deposits

B.      Savings Account

C.      Current Account

D.      Fixed Deposit

Q8. Cheque becomes stale after one year from the date of issue. *

A.      True

B.      False

Q9. With regard to Non-Savings Bank customers if more than ____________ transactions are made from any other bank ATM in a month, the charges will be levied at ______________ per transaction. *

A.      3 and Rs 20/-

B.      5 and Rs 10/-

C.      5 and Rs 20/-

D.      There will be no free withdrawals through other bank ATM and all withdrawals through other Bank ATM are chargeable at Rs 20 per transaction

Q10. SHGs can comprise of *

A.      all women group

B.      all men group

C.      mixed group

D.      All the above

Q11. Under MUDRA Loan, Shishu loans cover up to _________ *

A.      Rs 50,000/-

B.      Rs 1,00,000/-

C.      Rs 2,00,000/-

D.      Rs 2,50,000/-

Q12. What is the accidental death cover available to holders of Kisan Credit Card? *

A.      Rs 60,000   ( it was Rs.50000, but I do not know whether it has been changed or not)

B.      Rs 1,00,000

C.      Rs 1,50,000

D.      Rs 2,00,000

Q13. The regional rural bank is the best fitted to be the vehicle for financial inclusion in rural areas. *

A.      Their regional character

B.      Their functioning in a homogeneous agro-climatic area

C.      Their employees, hailing from the same area, are best suited to relate with the rural customers.

D.      They are managed by people from their parent banks.

Q14. Defaulter of loan means *

A.      Not paying loan installments

B.      Bad reputation

C.      Illegal activities

D.      None of the above

Q15. Under the farm mechanization scheme, the loan is given for *

A.      Providing irrigation facilities

B.      Cultivation expenses

C.      Purchase of farms equipment

D.      For digging wells

Q16. One of the essential requirements of a pledge are the actual or constructive delivery of the goods pledger by the pledger to the pledgee *

A)     True

B)      False

Q17. Financial Inclusion is propounded on the belief that *

A)     The growth potential is high in the target group

B)      It makes economic sense to bring the poor in the fold of the formal financial system

Banking is a service industry

Bold Options are correct answers.