Friday, 26 August 2016

Banking and Financial Awareness for RBI/IBPS Exams

Q1. Which account is best suitable for fixed monthly savings to earn maximum interest, for an individual? 
(a) Savings Account 
(b) Current Account 
(c) Recurring Account
(d) Fixed Deposit Account
(e) None of the above 

Q2. What is the full form of CASA? 
(a) Current Account and Small Account 
(b) Current Account and Savings Account
(c) Current Account and Small-Savings Acccount
(d) Cash Account and Small Account 
(e) None of the above 

Q3. Which of the following is false? 
(a) Savings Deposits bear less interest than Current Deposits 
(b) Current Accounts generally bear no interest 
(c) Term Deposits bear more interest than Savings or Current Accounts 
(d) All of the above are true
(e) None of the above

Q4. Which of the following is false? 
(a) There is no limit of transactions / withdrawals from a Current Account, but Savings Accounts have limited transaction and withdrawal facility 
(b) There is no interest payable in Current Account deposits, but Savings Accounts attract interests in the deposits 
(c) Current Account is used for business purpose, but Savings Accounts is used for saving deposits 
(d) All of the above are true 
(e) None of the above

Q5. Which of the following is true regarding BSBDA? 
(a) There is no requirement of maintaining minimum balance in BSBDA 
(b) Maximum 4 withdrawal (including ATM withdrawals) is allowed in BSBDA 
(c) ATM/Debit card is provided to the customers 
(d) All of the above are true
(e) None of the above

Q6. RBI instructed banks to convert No-frills account into - 
(a) Savings Account 
(b) BSBDA Account
(c) Current Account
(d) Fixed-Deposit Account 
(e) None of the above

Q7. PMJDY scheme of government has been recognized by Guiness Book of World Record for - 
(a) Most bank accounts opened 
(b) Most bank accounts opened in a single week
(c) Most bank accounts opened in a month 
(d) All of the above 
(e) None of the above

Q8. What is the slogan of PMJDY? 
(a) Mera Khata Bhagya Vidhata
(b) Sabke Saath Sabke Vikash
(c) Aapka paisa, Aapke haath
(d) Hum Appke, Saath hai
(e) None of the above

Q9. Which loans are referred as Clean loans/advances? 
(a) Loans against deposits 
(b) Loans against mortgages 
(c) Loans against personal worth
(d) Hypothecated loans 
(e) None of the above

Q10. Cash Credit (CC) accounts have a certain limit of withdrawal, known as - 
(a) Credit Facility
(b) Current Facility 
(c) No such limit is there 
(d) All of the above 
(e) None of the above 

Q11. Which of the following statement is correct? 
(a) Bearer cheque can be transferred with endorsement and delivery only 
(b) Order cheque can be transferred with endorsement only 
(c) After a blank endorsement on an order cheque, the cheque can be negotiated further with delivery only
(d) Endorsement on a bearer cheque makes it an order instrument 
(e) None of the above

Q12. Which of the following types of cheques can be endorsed? 
(a) Account payee cheques
(b) Bearer cheques
(c) cheques payable to the order
(d) cheque with restricted endorsement 
(e) None of the above

Q13. Which of the following cannot be endorsed? 
(a) A fixed deposit receipt
(b) A bank draft 
(c) A Promissory note
(d) A usance bill of exchange 
(e) A cheque

Q14. Restrictive endorsement is one in which? 
(a) Endorser endorses an instrument conditionally 
(b) Endorser restricts the further transfer by the endorsee
(c) Endorser endorses in favour of endorsee for his particular work 
(d) All of the above
(e) None of the above

Q15. Account payee crossing is a direction of the drawer to?
(a) To collecting banker
(b) To drawee banker 
(c) To payee 
(d) To all endorsees
(e) None of the above 

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