Tuesday, 6 August 2019

BC / BF EXAM (IIBF) Series -27 ( PROBABLE QUESTIONS AND ANSWERS )

Q1: Which deposits are a combination of demand & fixed deposits for meeting customer's financial needs in a flexible manner? *
A.      Recurring deposits
B.      Fixed deposits
C.      Hybrid deposits
D.      Term deposits
Q2: What is the purpose of which MUDRA loan can be availed for carrying on any activity related to ________ *
A.      manufacturing, Processing, Trading, Services
B.      Personal Loans
C.      Investment in Shares, Commodities in Primary or Secondary Market
Q3: Which system is a fund transfer mechanism where the transfer of money takes place one bank to another on a real-time and on 'gross' basis? *
A.      Remittances through RTGS
B.      AEPS
C.      IMPS
D.      SWIFT
Q4: Kisan Credit Card issued for *
A.      Short term only
B.      For term loans only
C.      For both the short term & term loan
D.      For meeting domestic expenses only
Q5: The banker-customer relationship in case of remittance is that of: *
A.      Debtor-Creditor
B.      Credit-Debtor
C.      Agent-principal
D.      Trustee-Beneficiary
Q6: Payment banks can accept deposits ________ *
A.      of any type and also without any ceiling
B.      term deposits only
C.      demand deposits only bu there is no upper limit for it
D.      demand deposit having balance not exceeding Rs. 1L per customer
Q7: A NPA is a loan or advance here *
A.      Interest and/or instalment of principal remain overdue for a period of more than 90 days
B.      Interest and/or instalment of principal remain overdue for a period of more than 180 days
C.      Interest and/or instalment of principal remain overdue for a period of more than 270 days
D.      None of the above
Q8: There is a minimum amount, as per each bank policy below which fixed deposit accounts may be opened *
A.      True
B.      False
Q9: Once a nomination is made in a deposit account *
A.      It is irrevocable
B.      It can only be amended
C.      It can be both cancelled & amended
D.      It can be cancelled
Q10: PMMY loans are applicable to ____ *
A.      All banks all over India
B.      Within the notified areas/ locations in India
C.      All banks all over India & abroad
Q11: Retail loans are generally granted to: *
A.      Professionals, individuals some money is owned
B.      A person to whom some money is owned
C.      Individuals, Institutions, Companies
D.      Professionals, Salaried Employees, Corporations
Q12: An account holder draws a cheque on a: *
A.      Banker of the Payee
B.      Banker of the Drawee
C.      Banker of the Drawer
D.      Banker of the Endorsee
Q13: How much time is taken in RTGS for effecting funds transfer from one account to another? *
A.      The beneficiary bank has to credit the beneficiary's account within two hours of receiving the fund's transfer message
B.      The beneficiary bank has to credit the beneficiary's account within one hour of receiving the fund's transfer message
C.      The beneficiary bank has to credit the beneficiary's account within two hours of receiving the settlement time of the batch
D.      The beneficiary bank has to credit the beneficiary's account within twenty-two hours of receiving the settlement time of the batch
Q14: Crossing a cheque _______ *
A.      On the face or back of the cheque
B.      Always be between two parallel transverse line
C.      On the face of the cheque
D.      Can be cancelled by the drawer as per NI Act
Q15: Housing loans granted to individuals up to Rs. _____ for construction of the houses (Eluding loans granted banks to their employees) at non-urban centres are treated as priority sector advances. *
A.      Five Lakh
B.      Ten Lakh
C.      Twenty Lakh
D.      Fifteen Lakh
Q16: "DFS" stands for ________ *
A.      Direct financial service society
B.      Department of financial services
C.      Distressed farmers service
D.      None of the above
Q17: What are the documents are required to be submitted for availing loans under MUDRA? *
A.      Standard loans application form
B.      KYC & other documents as may require as per internal guidelines of lending bank/NBFC/MFI
C.      Both of the above
Q18: When a bank lends money to the corporate person the relationship is *
A.      Borrower & lender
B.      Creditor & debtor
C.      Debtor & creditor
D.      Customer & client
Q19: IDBI is a *
A.      Private bank
B.      Nationalized bank
C.      Public sector bank
D.      Development bank
Q20: Banks have recently launched a service through which money can be transferred using mobile phones, this service is known as ____ *
A.      MTMT (Mobile to Mobile Transfer)
B.      MMTF (Mobile Money Transfer Facility)
C.      IMPS (Inter-Bank Mobile Payment Service)
D.      IBMPS (Internet Banking Mobile Payment System)
Q21: The Process of stopping the physical movement of cheques from banks to the clearinghouse. *
A.      Cheque Truncation System (CTS)
B.      Aadhar Payment Bridge System (APBS)
C.      Aadhanr Enabled Payment System (AEPS)
D.      e-KYC
Q22: What are the modalities to be followed under the DBT of the LPG subsidy scheme? *
A.      In case the customer is having Aadhar number that should be linked to their bank account LPG distributor
B.      If the customer is not having the Aadhar number should be linked/seed their bank account number with their LPG distributors
C.      The LPG customer can also get a subsidy by linking LPG customer ID with their bank account
D.      All of the above
Q23: Which of the following is the correct formula for compound interest? *
A.      A=P(1+r/n)^nt
B.      A=R(1+p/n)^nt
C.      A=P(1-r/n)^nt
D.      None of the above
Q24: When will a loan be NPA? *
A.      Interest and/or loan instalments overdue for more than 90 days
B.      The account is out of order for more than 90 days in case of overdraft/cash credit
C.      Bills remain overdue for more than 90 days in BP/BD
D.      All of the above
Q25: In Banker's parlance, credit RISK (link) in lending refers to: *
A.     Default of repayment of a borrower
B.      Default of bankers in maintaining SLR
C.      Default of a banker to release credit to a borrower
Change in value of foreign currency

Bold option is correct answer.

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