GK in English

Banking and financial Awareness Previous Year Questions

Q 41. Loan and Advances of a bank come under the category of ______________.

(a) Deposits
(b) Expenditure
(c) Liabilities
(d) Assets
(e) None of the above
Ans: (d)

Table of Contents

Q 42. What does the term ‘Call Money’ refer to?

(a) A loan made for a very short period of a few days or a week
(b) Student loans to help cover the cost of higher education
(c) Loans to allow consumers to buy homes they can’t pay for upfront
(d) Personal loans for any personal expenses which don’t have a designated purpose
(e) Loans to veterans and their families
Ans: (a)

Q 43. All bank loans, including home loans, taken are now linked to the bank’s marginal cost of funds based lending rate . MCLR has effective from?

(a) January 1, 2016
(b) September 1, 2015
(c) April 1, 2015
(d) April 1, 2016
(e) None of these
Ans: (d)

Q 44. What is the minimum period for which a fixed deposit can be opened in India?

(a) 3 days
(b) 7 days
(c) 15 days
(d) 30 days
(e) 60 days
Ans: (b)

Q 45. Which of the following types of mutual funds is not marked with BROWN color ?

(a) Diversified funds
(b) Income funds
(c) Sectoral funds
(d) Index funds
(e) Large-cap funds
Ans: (b)

Q 46. What does stand for “S” in RTGS?

(a) Security
(b) Services
(c) Settlement
(d) System
(e) None of these
Ans: (c)

Q 47. A banknote which has become dirty due to usage and includes a two pieces note pasted together wherein both the pieces presented belong to the same note, and form the entire note, is termed as

(a) Counterfeit banknote
(b) Imperfect banknote
(c) Soiled banknote
(d) Mutilated banknote
(e) None of these
Ans: (c)

Q 48. Credit cards are also knows as which of the following?

(a) Plastic money
(b) Hard money
(c) Silver money
(d) Easy money
(e) None of these
Ans: (a)

Q 49. Investments made by a mutual fund on behalf of investors are accounted as

(a) Assets
(b) Liabilities
(c) Capital
(d) Hedge Fund
(e) Collateral
Ans: (a)

Q 50. An insurance policy qualifies as micro-Insurance policy if the benefits don’t exceed

(a) ` 10,000
(b) ` 25,000
(c) ` 50,000
(d) ` 1 lakh
(e) ` 2 lakh
Ans: (c)

Q 51. Which of the following does not correctly explain Mutual Fund ?

(a) It is a collective investment scheme
(b) It is regulated and sold to the genera] public
(c) It is managed by an Asset Management Company
(d) It is a depository financial intermediary
(e) None of these
Ans: (d)

Q 52. An individual has secured a $12.000 loan from the bank to purchase a boat, which Is scheduled for repayment in monthly Installments over 48 months. Which life insurance would protect the lender should the borrower die prior to retiring the debt ?

(a) Level Term
(b) Enhanced Whole Life
(c) Modified Premium Life
(d) Decreasing Term
(e) None of these
Ans: (d)

Q 53. The Reserve Bank of India introduced a fluorescent blue Rs 50 currency note, with an incredible ________motif on the reverse side as a nod to India’s syncretic past.

(a) Temple
(b) Star
(c) Hampi
(d) Sun
(e) Moon
Ans: (c)

Q 54. Under which of the following sections of Insurance act 1938, the Amalgamation and Transfer of Insurance Business came?

(a) section 23
(b) section 35
(c) section 40
(d) section 32
(e) section 56
Ans: (b)

Q 55. Bank of Baroda has issued FASTag that will act as the composite solution on Electronic Toll Collection. The Baroda FASTag based on which technology?

(a) NFC
(b) Bluetooth
(c) RFID
(d) LiFi
(e) GPS
Ans: (c)

Q 56. Which bank has launched Bharosa Saving Account?

(a) Jio Payments Bank.
(b) India Post Payments Bank
(c) Paytm Payment Bank
(d) Airtel Payment Bank
(e) Fino Payments Bank
Ans: (d)

Q 57. Which Bank has introduced new Fixed Deposit scheme “FD Health” offering dual-benefit of investment growth via FD and protection through a critical illness coverage?

(a) State Bank of India
(b) Punjab National Bank
(c) Corporation Bank
(d) HDFC Bank
(e) ICICI Bank
Ans: (e)

Q 58. SBI Card launched the ‘SBI Card Pay’, a feature which allows contactless payment using mobile phones at point of sale terminals using which technology?

(a) NFC
(b) Swipe
(c) Internet Banking
(d) Tap
(e) Switch
Ans: (a)

Q 59. Nirmala Sitharaman said public sector banks will provide loans to retail, agriculture, and MSME loans and farmers under _________________ category which can also be availed in 400 districts.

(a) RAM
(b) ARM
(c) MRA
(d) MAR
(e) RMA
Ans: (a)

Q 60. RBI has issued guidelines on _____ authorization for BHARAT Bill Payment Operating Unit , Trade receivables discounting system and White Label ATMs.

(a) On Tap
(b) Liquidity
(c) Loan
(d) Payment
(e) Discounting
Ans: (a)

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