Tuesday, 6 August 2019

Banking Questions and Answers with Fundamentals to Know. Series -30

Q1. Bank does not provide loans for *
A.      Crop Loans
B.      Educations Loans
C.      Home Loans
D.      Drinking & Gambling
Q2. Photograph of the customer is an important requirement to open a savings account *
A.      True
B.      False
Q3. Small Finance Banks are required to provide at least ________ of their loans to borrowers classified under priority sector and at least ________ of their loans must be below Rs 25 lakhs *
A.      25%,25%
B.      50%,25%
C.      75%,50%
D.      80%,75%
Q4. Current accounts deposits are not entitled to *
A.      Cheque book above 100 leaves
B.      Monthly Statements
C.      Cash Payments
D.      Interest
Q5. A bank fixed deposits are characterized by *
A.      Fixed/Floating interest rate as agreed with the customer at the time of deposit
B.      The fixed period of the deposit
C.      Periodical Repayment of interest
D.      All the above
Q6. Fixed deposit receipt is *
A.      Negotiable instrument
B.      Quasi-negotiable instrument
C.      Non-negotiable instrument
D.      Negotiable subject to certain conditions
Q7. Regional Rural Banks can open its branches *
A.      anywhere in the state wherein it has its Head Quarters
B.      anywhere in the state but non-customer related officers can be opened anywhere in the country
C.      anywhere in the country
D.      only in the Govt.notifieds area(District)
Q8. The characteristics of Debit Cards are ________ *
a)      Payment for purchases are directly debited into the account
b)      Cash Withdrawals through ATMs are debited to the account immediately
c)       Payments made for purchases/Usage will be debited subsequently after a certain period
d)      Both a) and b) are true
Q9. Limitation period for filling suite for sale of immovable property is thirty years from the date mortgage debt becomes due *
A.      True
B.      False
Q10. Banks have a rule that savings bank account holder should keep specified minimum balance in the account *
A.      True
B.      False
Q11. The mission mode objectives of Pradhan Mantri Jan Dhan Yojna (PMJDY) consist of 6 pillars,which among the following objective will be covered in Phase I *
A.      Universal access to banking facilities
B.      Providing Basic Banking accounts with overdraft facility and RuPay debit card to all households
C.      Financial Literacy Programme
D.      All of the above
Q12. If the cheque bears across it face in addition to the crossing the name of a banker the cheque is deemed to have been crossed specially to that banker *
A.      True
B.      False
Q13. Which are banks that have been given license to function in a given area and they operate with a low level of capital and cannot offer all the financial services of a commercial bank? *
A.      Small finance banks
B.      Payment banks
C.      Foreign banks
D.      Local area banks
Q14. Micro Insurance Policies are a special category of insurance policies to promote insurance coverage among ___________ *
A.      Economically vulnerable people
B.      Low income women only
C.      Financially excluded landless labourers only
D.      Distressed farmer only
Q15. Which type of deposits earns higher interest rate? *
A.      Current Account
B.      Savings Account
C.      Fixed Deposits
D.      None of above
Q16. PMMY loan is given for which purpose? *
A.      Income Generation Purpose
B.      Consumption Purpose
C.      Both of above
Q17. The District level implementation committee for implementation and monitoring of PMJDY scheme is headed by__________ *
A.      Lead direct manager
B.      District collector
C.      District development manager of NABARD
D.      Zilla Panchayat secretary
Q18. Find out EMI for a housing loan of Rs 10Lakhs at an interest rate of 10.5% per annum repayable in 15 years *
A.      Rs 11,271
B.      Rs 11,054
C.      Rs 11,248
D.      Rs 11,504
Q19. The loan sanctioned by banks/NBFCs/MFIs on or after upto 10lacs for small business income generating activities are known as PMMY loans *
A.      18-Mar-15
B.      08-Apr-15
C.      202-May-15
Q20. A transfer of an interest in specific immovable property for the purpose of security, for the payment of money advanced or to be advanced by way of a loan, an existing or future debit or the performance of an engagement which may give rise to a pecuniary liability is called *
A.      Pledge
B.      Hypothecation
C.      Mortgage
D.      None of these
Q21. The difference between the Debit and Credit card is__________ *
A.      Your account gets debited immediately on using a credit card
B.      your account get credited immediately on using a debit card
C.      Your accounts do not get immediately on using a debit card
D.      None of the above
Q22. A settlement system in which the processing and final payment of funds transfer instructions takes place continuously is called________ *
A.      Debit clearing system
B.      Credit clearing system
C.      National clearing system
D.      Real-time gross settlement
Q23. What are the facilities available to the customers through ATM *
A.      Cash withdrawal subject to a predetermined limit per day
B.      PIN Change
C.      Balance Enquiry
D.      All of the above
Q24. To enforce its right under SARFAESI ACT,2002 a bank is required to give ________ days notice to borrower *
A.      30
B.      45
C.      90
D.      60
E.      120

Bold option is correct answer.

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Banking & Finance Questions and Answers

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