BC / BF EXAM (IIBF) Series -24 ( PROBABLE QUESTIONS AND ANSWERS )

Q1. EBT stands for *

A.      Economic Benefit Transfer

B.      Electronic Benefit Transfer

C.      Electronic Board for transaction

Q 2. Liquidity with a banker means *

A.      Cash on hand

B.      Cash and Bank balances

C.      Short time current assets to convert into cash

D.      All of the above

Q3. in Joint Hindu Family, the eldest member is called as *

A.      Dada

B.      Karta

C.      Leader

D.      Guider

Q4. Which of the following is/are the measures needed to keep RuPay Card safe? *

A.      RuPay card is to keep in self custody

B.      The PIN should be changed at frequent intervals

C.      The PIN should never be shared with anyone

D.      While using the card at ATM machine or PoS, PIN should be entered in machine very secretly so that nobody can ever access PIN number

Q5. For customers, banks collect the cheque drawn on other banks also *

A.      True

B.      False

Q6. Calculate EMI for a Loan Amount of Rs 5Lakhs towards the purchase of New Car. The interest rate applicable is 12% and term of the loan is 4 years *

A.      Rs 13,266

B.      Rs 13,167

C.      Rs 13,037

D.      Rs 14,000

Q7. Under Pradhan Mantri Jan Dhan Yojna(PMJDY) overdraft facility for how much amount would be available after the satisfactory operation of the account for 6 months? *

A.      Rs 1000/-

B.      Rs 5000/-

C.      Rs 10000/-

D.      Rs 15000/-

Q8. What does PMMY stand for?

A.      Primary Money Market Yojana

B.      Prime Minister Mudra Yojana

C.      Prime lending Money Yojana

D.      Pradhan Mantri Mudra Yojana

Q9. ______________ is responsible for the resolution of grievance at the branch level *

A.      BC Agent

B.      Designated Counter Clerk

C.      Sub-staff

D.      Branch Manager

Q10. Branches may open accounts for those customers who are not able to provide KYC documents, provided they intend to maintain balances not exceeding Rs_________ in all their accounts are taken together *

A.      Rs 1Lakh

B.      Rs 2Lakhs

C.      Rs 50,000

D.      Rs 5000 per month

Q11. Which of the following are the main features of RuPay Debit Cards? *

A.      Lower cost and affordability

B.      Protection of information related to Indian Customers

C.      Customized product offering

D.      All of the above

Q12. While collecting cheques/billing etc. for a customer, the bank acts as: *

A.      an agent of the customer

B.      a trustee of the customer

C.      a pledger

D.      a debtor

Q13. 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

Q14.Kisan cards are issued to farmers to enable them to *

A.      Withdraw money from ATM in rural balances

B.      Purchase farm equipment

C.      Purchase agricultural implement on credit from dealers

D.      Meet their cultivation and non-farm requirements including the purchase of input in other short term requirement and working capital the requirement for allied activities

Q15. With respect to the safe custody of an article, the relationship between the customer and the banker is that of ballor-ballee *

A.      True

B.      False

Q16. From where the PMMY loan can be availed? *

a) Public Sector Banks, Private Sector Banks, Foreign Banks, Cooperative banks, RRBs, NBFCs and MFIs

b) Directly from Mudra

Both a) and b)

Q17. The age for coverage under the scheme of life Insurance cover under PMJDY is________ *

A.      The age group of 21 to 50

B.      The age group of 18 to 50

C.      The age group of 18 to 60

D.      The age group of 21 to 60

Q18. The term Financial Inclusion has been defined as *

a)      The availability of individuals to make informed judgments and effective decisions about the use and management of money

b)      The provision of affordable financial services, viz,...access to payments and remittance facilities, savings, loans, and insurance services etc, covering the disadvantaged sections of the society

c)       Inclusion of finance as a subject of study in schools

d)      All the above

Q19. Internet banking refers to *

a)      Operation of account through internet

b)      Opening of account through ATM

1.       Both a) and b)

2.       None of the above

Q20. In deposit accounts, the main relationship between bank and customer is *

A.      Creditor-Bank, Debtor-Customer

B.      Debtor-Bank, Creditor-Customer

C.      Agent-Principal

D.      Servant-Owner

Q21. Interest on Savings Bank Account is now calculated on daily product basis *

A.      True

B.      False

Q22. Know Your Customer (KYC) guidelines are intended to*

A)     Establish identity with residence proof of the customers

B)      Prevent fictitiously or Benami transactions

C)      Protect the bank from the risk of not acting in good faith

D)     All the above

Q23. Principle functions of bank is *

A)     Accepting deposits

B)      Lending and investing

C)      Non-fund business and remittance service

D)     All of the above

Bold option is correct answer.