BC / BF EXAM (IIBF) Series -23 ( PROBABLE QUESTIONS AND ANSWERS )

Q1: Who among the following can't be Bank Mitra? *

A.      Retired bank employees

B.      Retired teachers

C.      Retired Govt.Employees

D.      Local panchayat secretary

Q2: Expand "AEPS" *

A.      Account Enable Payment System

B.      Aadhar Enable Payment & Settlement

C.      Aadhar Enabled Payment System

D.      Anywhere Electronic Payment Solution

Q3: ___________ the account is maintained by businesses for their daily operations *

A.      Current

B.      Savings

C.      Fixed Deposit

D.      Recurring Deposit

Q4: Banks pays interest on *

A.      Deposits

B.      Loans

C.      Both of the above

D.      None of the above

Q5: It is not particularly important for the counselor to convey an attitude of acceptance toward the client *

A.      True

B.      False

Q6: In case the securities or documents are deposited by the customer for the purpose of safe custody the banker deals with them according to the instructions of the customer, the position of the banker is that of a *

A.      Debtor & Creditor

B.      Principal & Agent

C.      Trustee & Beneficiary

D.      Lesser & Lessee

Q7: The sum assured for life insurance cover provided under the PMJDY scheme is ________ *

A.      Rs. 30,000/-

B.      Rs. 5,000/-

C.      Rs. 25,000/-

D.      Rs. 1,00,0000/-

Q8: Calculate the EMI for the following particulars. Housing Loan - 40 Lakhs; Rate of Interest - 10.5%; Term of the loan - 20 Years *

A.      Rs. 40,000

B.      Rs. 39,935

Q9: A time deposit the account can normally be open for a maximum period of: *

A.      12 months

B.      10 years

C.      60 months

D.      72 months

Q10: Banks do not ask for proof of residence while opening a savings bank account. *

A.      True

B.      False

Q11: The purpose of advising clients in financial counseling is to convince them to do what counselors think they should do. *

A.      True

B.      False

Q12: The three stages of money laundering are: *

A.      Layering, Placement, Refining

B.      Placement, Refining, Integration

C.      Refining, Integration, Layering

D.      Integration, Layering, Placement

Q13: When a bank acts on the standing instructions of the customer to pay bills of utility services such as Electricity, Telephone, etc,; the relationship between two is of: *

A.      Principal & Agent

B.      Owner & Servant

C.      Trustee & Beneficiary

D.      All of these

Q14: A vehicle loan is granted against the security of: *

A.      Pledge of the vehicle finance

B.      Hypothecation of the vehicle financed

C.      Mortgage of the vehicle financed

D.      Hypothecation of the assets of the borrower

Q15: Interest on FDRs is compounded on *

A.      Monthly basis

B.      Quarterly basis

C.      Half-yearly basis

D.      Yearly basis

Q16: If A invest Rs. 24 at 7% interest rate for 5 years, total value at the end of 5 Years is *

A.      31.66

B.      33.66

C.      36.66

D.      39.66

Q17: Under Pradhan Mantri Jan-Dhan Yojana (PMJDY), the account holder is provided with a RuPay debit card with inbuilt accident insurance cover up to Rs. _____________ *

A.      5 Lakhs

B.      4 Lakhs

C.      2 Lakhs

D.      1 Lakh

Q18: In which cards, transactions by the cardholder are accumulated over a period of time generally a month and the total amount is charged, i.e debited to the account of the card holder? *

A.      Charge card

B.      Credit Card

C.      Smart Cards

D.      Member Card

Q19: EMI stands for *

A.      Electronic media interface

B.      Equated monthly installment

C.      Equal monthly interest

D.      None of the above

Q20: Working capital means ___________ *

A.      Excess of current assets over current liabilities

B.      Fixed Asset - Current Assets

C.      Requirements for the day to day transactions

D.      None of the above

Q21: Farmers club were initially started by NABARD in 1982 as Vikash Voluntary Vahini program to propagate the 5 principles of "Development through ________". *

A.      Saving

B.      Credit

C.      Recovery

D.      Meeting & Discussion

Q22: How much interest saving would earn in the PMJDY Account? *

A.      The interest rate applicable for savings bank account

B.      Interest the rate will be decided by the finance ministry

C.      No interest will be provided

D.      Interest at 2% for the time being

Q23: The nature of the charge created while advancing against LIC policy is: *

A.      Assignment

B.      Lien

C.      Pledge

D.      Set off

Q24: GTBank, a Nigerian bank gets a lot of money sent to its customers at home from the United States in the form of remittances. Since GTBank does not have a physical presence in the US, it enters into an agreement with Citibank where the later has an account remotely opened for GTBank in U.S.Dollars. This way money received by U.S. Customer & businesses sending money to GTBank account holders in Nigeria will be deposited in the account that GTBank has with Citibank. This money deposited will then be transferred by Citibank via Swift to GTBank's U.S. Dollar account in Nigeria. With the transfer complete, GTBanks receives the dollar-denominated funds, convert it into local currency, i.e. the naira, and deposits it to the local accounts of the recipients. From the GTBanks perspective, it's U.S.dollar account with Citibank is a ______________ *

A.      Vostro Account

B.      Loro Account

C.      Nostro Account

D.      Savings account

Q25: Obligation of a Banker to maintain secrecy is applicable to *

A.      Existing deposit accounts

B.      Existing safe deposit accounts

C.      Closed deposit accounts

D.      All of these

Bold option is correct answer.