Thursday, 22 August 2019

Series-40 , Banking Questions and Answers with Fundamentals to Know.

BC / BF EXAM (IIBF) Series -40 (PROBABLE QUESTIONS AND ANSWERS)

Chapter-17; Risk and Fraud Management
1. BCA provides a banking service to targeted people. Due to the poor service of BCA, the bank's name and image among the tarnished. This is a _____________risk.
A.      contractual
B.      concentration
C.      reputation
D.      compliance
2. Which one of the following is included in the DO's for a BCA?
A.      BCA should maintain the confidentiality and the secrecy of the customer information
B.      BCA should indulge in local politics
C.      BCA should treat his/her customers differently according to their caste, creed or sex
D.      BCA should not do the transaction with financially excluded people
3. BCA tries to breach of bank records and gets access to confidential documents. This is ____________risk.
A.      reputation
B.      compliance
C.      strategic
D.      access
4. If the BCA hinders the ability of the regulated entity to provide timely data and other information, it is termed as Contractual risk.
A.      True
B.      False                                                                                 
BANKING AWARENESS
5. If the BCA has inadequate expertise to oversee the service provider, it is termed as Strategic risk.
A.      True
B.      False
6. In ATM transaction if the customer uses wrong PIN continuously for _________times, the transaction stops without instruction.
A.      five
B.      three
C.      one
D.      two
7. In an online transaction, banks provide OTP(ONE TIME PASSWORD) and the same should not be shared by the customer with _________party.
A.      1st
B.      2nd
C.      3rd
D.      4th
8. Mis-selling advertisement through mobiles create an unnecessary burden on the customers.
A.      True
B.      False
9. An effective fraud management approach is one that focuses on 3 points. Choose the ODD ONE OUT.
A.      Prevention
B.      Detection
C.      Response
D.      Calculation
10. An agent shall carry out a transaction when a transactional receipt or acknowledgment cannot be generated.
A.      True
False
Chapter-18; PMJDY, PMJJBY, PMSBY, APY
1. What is the monthly installment (as his contribution) to be paid by a person if he joins APY at the age of 18 years and he wants to get a minimum monthly pension of Rs 5000 per month at the age of 60 years?
A.      Rs 291
B.      Rs 240
C.      Rs 210
D.      Rs 126
2. Banks have assigned __________ for opening of Basic Savings Bank Deposit Accounts under financial inclusion through Business correspondents.
A.      Scheme Codes
B.      Personal Identification Number
C.      Aadhar Number
D.      PRAN
3. EBT stands for _____________________
A.      Economic Benefit Transfer
B.      Extra Benefit Transfer
C.      Electronic Benefit Transfer
D.      Electronic Board for Transaction
4. PoS Machine is a small device installed at almost all Business Centres to facilitate cashless purchases to their customers. PoS stands for ____________________
A.      Payment on Sale
B.      Point of Sale
C.      Point of Settlement
D.      Purchase and Sales
5. ATM is one of the banking channels. Here, the abbreviation "ATM" refers to ___________
A.      Any Time Machine
B.      Automated Teller Machine
C.      Automated Transaction Money
D.      All Time Money
6. Under e-KYC, the AADHAR KYC service at UIDAI authenticates customer's __________.
A.      Data
B.      Movement
C.      only bank account number
D.      none of these
7. Can a minor open an account under PMJDY?
A.      a minor of above the age of 18 years can open his/her Savings Bank account in any bank
B.      a minor of above the age of 10 years can open his/her Savings Bank account in any bank
C.      a minor of above the age of 12 years can open his/her Savings Bank account in any bank
D.      a minor cannot open the account under the scheme
8. The age for coverage under the scheme of life insurance cover under PMJDY is_____________
A.      age group 21 to 59
B.      age group 18 to 59
C.      age group 18 to 60
D.      age group 21 to 60
9. The sum assured for the Life Insurance cover provided under the PMJDY scheme is _________
A.      Rs 30000
B.      Rs 5000
C.      Rs 25000
D.      Rs 100000
10. Under PMJDY overdraft facility will be allowed in the SB accounts_______________
A.      as running OD facility for 36 months subject to an annual review of account
B.      as running OD facility for 12 months subject to an annual review of account
C.      as running OD facility for 24 months subject to an annual review of account
D.      as running OD the facility as the account holder prefers
Chapter-19; Centre Government and Local Government Sponsored Schemes;
1. Which one of the following program was replaced by National Rural Livelihood Mission?
A.      SGSY
B.      PMGSY
C.      PMAY
D.      PMGKY
2. "Mangalya" refers to_________________
A.      Central Government Scheme
B.      Widow Remarriage Scheme
C.      Assam Government Scheme
D.      Karnataka Government Mid Day Meal Scheme
3. PMAY-G is a _________________
A.      cattle shed scheme
B.      urban housing scheme
C.      rural housing scheme
D.      only a self employment scheme
4. DDU-GKY means _______________
A.      DeendayalUpadhyayaGrameenKaushalyaYojana
B.      DeendayalUpadhyayaGrameenKalyanYojana
C.      DeendayalUpadhyayaGrameenKutirYojana
D.      DeendayalUpadhyayaGruhaKalyanYojana
5. Which one of the following is not included in "Panchasutra" of a good SHG?
A.      regular meetings
B.      regular savings
C.      regular internal lending
D.      regular attendance and discussion on social issues
6. One of the major reason why people in rural areas never wanted to open a bank account was
A.      Too much distance they had to cover to reach a bank
B.      Too much money they had to deposit
C.      Too much documentation was needed to open a bank account
D.      All of the above
7. One of the Major Step to improve financially Inclusion is _________________
A.      Setting a post office in every village
B.      Setting a bank account in every bank
C.      Opening of Jan Dhan Account
D.      NONE OF THESE
8. One of the major roles of the BCBF agent is _______
a. To Sell financial products
b. To create awareness about banking
c.To help rural people to get loans
d.All of the above
e.Only option b
9. One of the major issue with rural branches of banks is _______________
A.      Urbanized staff ( People from Cities )
B.      No Staff at all
C.      Untrained Staff ( No Training of Staffs)
D.      None of the above

The bold option is the correct answer.

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