Sunday, 4 August 2019

BC / BF EXAM (IIBF) Series -18 ( PROBABLE QUESTIONS AND ANSWERS )


Q. 1 Maintenance of the following books/registrars is not compulsory for SHG *
a) Minutes Book
b) Saving and Loan registrar
c) Visitors Books
d) members passbook
Q2. There are no restrictions on the number of credits in a savings bank account *
a) True
b)False
Q 3. What is the present value of Rs 115000 to be received after 1 year at 10 % *
a) 121000
b)100500
c) 110000
d) 104545
Q. 4 MUDRA STANDS FOR : *
a) Metropolitan and urban regulatory authority
b) A scheme of the ministry of AYUSH
C) Micro units development and Refinance Agency
d) None of above
Q. 5 PoS Machine is small device installed at almost all business centres facilitate cashless purchase to their customers. PoS stands for *
a) Payment on sale
b) Point of sale
c) Point of settlement
d) Purchase & Sales
Q. 6 Which of the following Accounts are intended for keeping savings of individuals and small businesses for meeting their future money needs and banks pay interest on these accounts? *
a) Savings account
b) Fixed deposit
c) Current account
d) Recurring account
Q. 8 In NEFT, there are clearing settlement batches and the return time allowed is.... *
a) 2 hours  
b) 24 hours
c) 36 hours
d) 48 hours
Q. 9 Which Banks cannot lend to customers or issue Credit cards? *
a) Regional Rural Bank
b) Local Area Banks
c) Foreign Bank                d) Payment Bank
Q. 10 Which of following is not a features of Swavalamban scheme launched by the Govt.? *
a)' Swavalamban' will be enable for person who join 'NPS' or NPS 'Lite'
b) Minimum contribution is Rs. 1000 per annum during a financial year
c) Maximum contribution Rs. 12000 per annum during a financial year
d) Govt. will contribute Rs. 2000 in their NPS account each year up to the year 2016-17
Q. 11 The Banks' Model Policy on Grievance Redressal is based on certain principals. Which one of the following is an incorrect principals? *
a) Customers will be fully informed of avenues to escalate their complaints / grievances within the organisations
b) Complaints raised by customers will be dealt with courtesy and in time
c) Customers will be treated fairly at all time
d) Bank will treat all complaints efficiently and fairly as they can damage the bank's reputation and business if handed otherwise
Q. 12 Balance in savings Bank account is payable : *
a) At notiec
b) On demand
c) After lapse of 24 days
d) All the above
Q. 13 An MFI can maximum lend ...... in the first instance *
a) Rs.25000
b) Rs. 50000
c) Rs. 60000
d) Rs. 100000
Q. 14 Principal functions of banks are : *
a) Accepting deposits
b) Lending and investing
c) Non-fund business and remittance services
d) All of above
Q. 15 Fixed deposits cannot be...... *
a) Renewed for a further period on maturity date
b) Transforms to third parties
c) Pre-paid before the maturity date
d) Can not be pledged to the bank as security
Q. 16 Which of the following are the essential elements of beneficiary's identification in NEFT c) Beneficiary's name, Branch name, Account type, Beneficiary's account no, Beneficiary's Branch IFSC *
a) Beneficiary's name, bank name, Beneficiary's Accounts no, Beneficiary's Branch IFSC
b) Beneficiary's name, Account type, Beneficiary's Accounts no, Beneficiary's Branch IFSC
c) Beneficiary's name, Branch name, Account type, Beneficiary's account no, Beneficiary's Branch IFSC
d) Beneficiary's name, Branch name, Account type, Beneficiary's Account no, Beneficiary's Branch IFSC
Q. 17) A Bank uses the policy of monthly compounding for its term deposits. A customer deposits Rs. 10000 for 5 years. Bank has mentioned 9% compounded Monthly. Calculate the maturity amount? *
a) 15,386.24
B)15,529,69
C)15,605,9
D)15,656,81
Q. 18) In a bank guarantee issued to a customer,bank assumes the role of *
A)Principle
B)Beneficiary
C)Guarantor       D)None of the above
Q.19) What relationship is created when the bank collects a cheque in clearing *
A)holder for value
B)clearing member & principle
C)agent & principle
D)collecting bank & holder
Q.20) The customer has been defined in *
A)Negotiable Instruments Act
B)RBI Act
C)Banking regulation Act
D)Not defined
Q.21) The customer can close an account *
A)As per his/her wish
B)With the consent of the bank
C)Both of the above
D)None of these
Q.22) The guidelines for KYC principle relate *
A)to identification of depositors
B)to identification of person who enters in bank/branch premises
C)to identification of person roaming around the bank
D)All of the above
Q.23) Who can open bank account *
A) Indian Citizen
B)Non Resident Indian
C)Illiterate
D)All of above
Q.24) Under________ plan of insurance the assured is paid on expiry of the policy term only if the life assured does not die within that term? *
a) Term assurance plans
b) Endowment life plans
c) Whole life plans
d) none of above
Q. 25 What should be the relationship between the banker and the customer for giving effect to a garnishee order? *
a) Debtor-Creditor
b) Creditor-Debtor
c) Agent-principal
d) Ballor-Ballee
Bold Options are correct answers.

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