Friday, 30 September 2016

Banking and Financial Awareness for IBPS/BOM Exams

Q1. When we talk of smart money what are we referring to?
(a) internet banking
(b) FDRs in banks
(c) credit cards
(d) demand drafts of banks
(e) bank rate

Q2. RTGS stands for............?
(a) Real Time Gross Settlements
(b) Reduced Time Gross Settlements
(c) Relative Time Gross Settlements
(d) Real Total Gross Securities
(e) None of the above

Q3. Banks and other institutions have issued debit and credit cards, the purpose of both are
(a) the same, to make paperless payments
(b) different, since in credit card, the account is credited with the amount while in debit card the account is debited
(c) the same, there is risk weight-age of 125% in both the cards.
(d) different, since in debit cards interest for delayed period is charged while in credit cards no such interest is charged by banks
(e) None of the above

Q4. ‘National Financial Switch’ has been setup to facilitate connectivity between the bank’s switches and their ATMs and interbank payment gateway for authentication and routing the payment details of various e-commerce transactions. Which organisation has set-up this switch?
(a) IBRD
(c) SBI
(e) None of the above

Q5. Which is the card that looks like any other plastic card or an ATM card with Integrated Circuit (IC chip)?
(a) Member card
(b) Charge card
(c) Credit card
(d) Smart card
(e) None of the above

Q6. Which of the following is a leading electronic payment technology firm? (The logo of the firm can be seen printed on credit cards/ATM centres etc)
(a) Visa
(b) Max
(c) BSE
(d) Sensex
(e) SWAP

Q7. Which of following is necessary to transfer funds through the RTGS facility?
(a) Beneficiary’s bank account number
(b) The IFSC number of the beneficiary’s bank branch
(c) There is a minimum amount specified for transfer
(d) All of the above
(e) None of the above

Q8. Currently, banks claim that they have achieved 100% CBS. What are they referring to?
(a) It means all their branches are technology driven with core banking solutions
(b) It suggests complete banking services
(c) It is an indication of customised banking services
(d) All of the above
(e) None of the above

Q9. The money market in India consists of two sectors namely the organised and the unorganised sector. Which of the following do not fall under unorganised sector?
(a) RBI, commercial banks and SBI
(b) LIC and GIC
(c) Unit Trust of India
(d) Indigenous banks
(e) None of the above

Q10. Currency Swap is an instrument to manage-
(a) currency risk
(b) interest rate risk
(c) currency and interest rate risk
(d) cash flows in different currencies
(e) All of the above

Q11. As per the reports in the major financial newspapers, India has urged China to redress imbalance in trade. What does it really mean?
(a) India exports more items to China whereas China does not export much to India
(b) India is not able to export much to China whereas its import from China is of higher value
(c) China and India are not at all trade partners. Hence there is no transaction between the two countries
(d) As per WTO laws, India is supposed to export food -grains to China. But China has not placed any order for the same in 2006-07. It has also refused to accept 200 lakh tonnes of wheat exported to it by India
(e) None of the above

Q12. Many times we read about ‘Hawala’ transactions in newspapers. Hawala, in India, is prohibited under the provision of which of the following Acts?
(a) Fiscal Responsibility and Budget Management Act
(b) Banking Regulation Act
(c) Financial Action Task Force Act
(d) Foreign Exchange Management Act
(e) None of the above

Q13. In India, which of the following agencies is responsible for announcing the Foreign Trade Policy?
(a) RBI
(b) EXIM Bank
(c) Foreign Ministry
(d) Industry and Commerce Ministry
(e) None of the above

Q14. In which year was World Bank formed?
(a) 1945
(b) 1956
(c) 1960
(d) 1988
(e) 1978

Q15. The difference between visible exports and visible imports is defined as.........?
(a) Balance of trade
(b) Balance of payments
(c) Balanced terms of trade
(d) Gains from trade
(e) All of the above

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