BC / BF EXAM (IIBF) Series - 9 ( PROBABLE QUESTIONS AND ANSWERS )

61. Which of the following represents the correct meaning of ‘REPO RATE’?

(a) Rate on which RBI sells Government Securities to Banks

(b) The rate for borrowing rupees by banks from RBI

(c) Rate offered by banks to their prime customers

(d) The rate applicable for grant of priority sector loans

(e) None of these

62. Savings bank accounts are opened by-

 (a) Trading entities, manufacturing entities, and individuals for savings purposes

(b) Traders and manufactures for business purposes

(c) Individuals for savings purposes

(d) Limited companies and partnerships for savings purposes

(e) Cooperative banks for savings

63. Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) are terms most closely related to which of the following industries/markets?

(a) Capital market

(b) Banking industry

(c)Commodities market

(d) Money Market

(e) Mutual fund industry

 64. What is the maximum period for which domestic term deposits are normally accepted by banks in our country?

 (a) 3 years

(b) 5 years

(c) 7 years

(d) 10 years

(e) 12 years

65. The Deputy Governor in charge of banking regulation and supervision is nominated as the ________of the (BFS) board:

a) Head

b) Vice-Chairman

c) President

d) None of These

 66.The main function of NABARD is to provide refinance for rural credit disburse by the_______and other financial institutions as may be approved by the Reserve Bank of India:

 a) State Co-operative Banks

b) The Regional Rural Banks

c) State Co-operative Banks and The Regional Rural Banks

d) None of The Above

67. NHB has been established with an objective to:

a) Operate as a principal agency to promote housing finance institutions

b) promote housing finance institutions both at local and regional levels

c) provide financial and other support incidental to such institutions and for matters connected therewith

d) All of the Above

68. Business Credit Cards are:

a) Specialized credit cards issued in the name of a registered business

b) can be used only for business purposes.

c) Both of The Above

d) None of The Above

 69.White Label ATM means:

a) The ATM that does not have any bank logo.

b) The ATM carries the logo of RBI

c) Both of Above

d) None of These

 70. Banking Ombudsman is appointed by __________:

 a) Central Finance Minister

 b) Reserve Bank of India

c) SEBI

 d) None of The Above

71.The securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (SARFAESI) meant the recovery of loans which have become NPA is not applicable to:

a) Financial Institutes of Government

b) Non – Banking Financial Companies

c) Small & Cooperative Banks

d) None of These

72. The maximum compensation by Banking Ombudsman for a complaint is:

 a) Rs.1 lakh

b) Rs.2 lakh

c) Rs.5 lakh

d) Rs.10 lakh

73. A cheque has three parties, the drawer, the drawee and the payee.

                      A) TRUE                     B) FALSE

74 Phone banking cannot be used in loan applications, investment purchases and redemptions, checkbook orders, debit card replacements, change of address.

                  A) TRUE                     B) FALSE

 75.--------  is a term used for performing account transactions, payments via a mobile device such as a mobile phone.

a.       Mobile banking                         

b.      Phone banking                   

c.       e-banking

76. -------- is a service provided by a bank which allows its customers to perform transactions over the telephone

a.       e-banking                              

b.      Mobile banking c.       Phone banking

77. Which of the following is known as a Savings Bank Account opened with a commercial bank with zero balance or a very minimal balance?
a. Current Account

b. No frill account

c. Savings Bank-ordinary Account

d. Students Savings Bank Account

 78. What is 'fiat money'? 

a. The currency backed by Government Guarantee

b. The currency backed by tangible assets

c. The currency backed by gold reserves

d. The currency backed by budgetary support

79. When more than one banks allow credit facilities to one party in coordination with each other, the process is called as _________
a. Amortization

 b. Consortium

c. Moratorium

d. Subvention

80. What is the full form of SWIFT? 

a. Safe The window for Interbank Financial Transactions

b. Safe Window In case of Financial Transaction

c. Society for Worldwide Interbank Financial Telecommunication

d. Safe Window Institute For Transactions
Answers:-

60	D
61	B
62	C
63	B
64	D
65	B
66	C
67	D
68	C
69	A
70	B
71	B
72	D
73	A
74	B
75	A
76	C
77	B
78	A
79	B
80	C

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