Monday, 5 August 2019

BC / BF EXAM (IIBF) Series -25 ( PROBABLE QUESTIONS AND ANSWERS )



Q.1 Banks issue bearer demand draft where payment can be obtained from the bank's counter
     a.       True     b.      False

Q. 2 ATM's is one of the banking channels, here, the abbreviation 'ATM' refers to......
a) All Time Money
b) Automated Teller Machine
c) Automated Transaction Money

Q. 3 Can a minor open an Account under PMJDY?
a) A minor above the age of 18 years can open his/her saving bank account in any bank
b) A minor above the age of 10 years can open his/her saving bank account in any bank
c) A minor above the age of 12 years can open his/her saving bank account in any bank
d) A minor cannot open the account under the scheme

Q. 4 A Nomination can be made only in favour of
a) A Bank
b) A spouse and children with guardian
c) Parents, Spouse and children
d) Any Individual

Q. 5 The Advantages of ECS payments are.........
a)  No need for issuing any cheque to the Beneficiary
b) Payment defaults will not happen if there is sufficient balance in the account.
c) No, follow up needed by the beneficiary as payment will be received automatically based on the mandate obtained
d) Hassle-free the mandate the issuer, as he saves him the time of issuing cheques for each payment.
e) All of the above

Q. 6 Under MUDRA LOAN, Kishor loan covers up to......
a) Rs. 25,000 up to Rs. 2 Lakhs
b) Rs.50,000 up to Rs. 3 Lakhs
c) Rs. 50,000 up to Rs. 5 Lakhs
d) Rs. 75,000 up to Rs, 7 Lakhs

Q. 7 Whether a minor can be appointed as a mandate holder to operate a current account including the power of overdrawing of the account?
a) No, a minor is incompetent to contract.
b) Yes, a minor may be allowed to operate the account but not to overdraw the account.
c) Yes, there is no bar to a minor being appointed as an agent and operate the account including overdraw the account. In accordance with the authority given.
d) All of the above.

Q. 8 RuPay Card scheme is operated by .......
a) NBFC
b) National Payment Corporation of India.
c) Public Sector and Private Sector banks jointly.
d) Reserve Bank of India.

Q. 9 A person takes the loan from the bank and assigns his Insurance Policies, in favour of the Bank. The relationship will be off....
a) Pledgor and Pledgee
b) Assignor and Assignee
c) Creditor and Debtor
d) Beneficiary and Trustee

Q. 10 Which are granted in the the current account, whereby the customer can overdraw up to a sanctioned limit as per his/her cash requirement s and it is a running account and interest is charged is only on the debit balances?
a) Cash Credits
b) Term Loans
c) Credit Card Dues
d) Overdrafts

Q. 11 The Client's resistance behaviours are unimportant to a successful financial counsellor 
a) True
b) False

Q. 12 Interviewing, counselling and advising are all similar to and different from each other
a) True
b) False

Q. 13 What is the role of MUDRA under PMMY Loans
a) MUDRA is a direct lending Institution and lend to small/micro units entrepreneurs directly for PMMY
b) Acts as a Refinance Agency and refinances to all bank, NBFCs, MFIs for onward lending to customers under different categories of PMMY loan  as per need to
c) MUDRA is a regulator of bank

Q. 14 Total loans sanctioned/ disbursed under PMMY is accessible to......for information of the Banks/NBFCs/MFIs, General Public at Large.
a) DFS Website
b) MUDRA Portal
c) PMO website

Q. 15 What is the amount of insurance up to which a deposit is insured?
a) Rs. 1 Lac per depositor per branch of the bank
b) Rs. 1 Lac per depositor per Bank
c) Rs. 1 Lac per depositor from the banking system
d) Rs. 1 Lac per depositor held singly or jointly

Q. 16 What are the operating hours of NEFT ON SATURDAY
a) Up to 12 Noon
b) Up to 11:00 AM
c) UP to 11: 30 AM
d) Up to 7:00 PM

Q. 17 A person purchased a Laptop for Rs. 30,000 by raising a loan from the bank at 12% on a simple rate of interest, payable in 2 years as weekly payment. The total amount of interest would be Rs......... and the weekly instalment would be Rs....... *
a) 7200, Rs. 357.60
b) 3600, Rs. 357.60
c) 7200, RS. 715.20
d) 3600, Rs. 715.20
Q. 18 A Non-negotiable the crossing is a ....... *
a) General Crossing
b) Special Crossing
c) Restricted Crossing
d) Non-transferable Crossing
Q. 19 In the Mudra loan Meias, Loans are granted ranging from....... *
a) Rs. 50,000 to Rs. 3 Lakhs
b) Rs. 50,000 to Rs. 6 Lakhs
c) Rs. 50,000 to Rs. 9 Lakhs
d) Rs. 50,000 to Rs. 10 Lakhs
Q. 20 No-frills account is a *
a) Basic Savings Bank Deposit account
b) Loan account
c) Fixed Deposit account
d) Cash Credit account
Q. 21 Which of the following statements are correct in regard to nomination facility for their depositor *
a) Nomination facility is available to existing as well as new depositors
b) Nomination can be made in favour of one person only
c) Nomination facility is available for accounts standing in the name of individuals in the single name or jointed name.
d) All of the above
Q. 22 The Death claim benefit of Rs. 30000 will be settled by the designed Pension & group scheme (P &GS) office of LIC *
a) True
b) False
Q. 23 Whom would you consider customer of a Bank *
a) A person who visits the bank daily for encashment of cheques DDs and retirement of Bills
b) A person who has a duly an introduced account of any nature with the bank
c) A Person who intends to open an account after a few days
d) A person whose footfall on the banking premises i.e in the banking hall for any purpose.
e) None Of Above
Q. 24 How many transactions are permitted are free of any charge at other banks ATM in a month in non-metro cities. *
a) 2
b) 3
c) 5
d) 7
Bold option is correct answer.

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