Banking and Financial Awareness for IBPS Exams 2016

Q1. National Income of India is estimated by?
(a) Central Estimates Survey Committee
(b) National Sample Survey Committee
(c) Central Statistical Organization
(d) Finance Ministry
(e) None of the above

Q2. Net National Product is equivalent to-
(a) Gross Domestic Product minus Depreciation
(b) Gross National Product minus Indirect Taxes
(c) Net National Income minus Depreciation
(d) Gross National Product minus Depreciation
(e) None of the above
Q3. Nomination facility is available to-
(a) Individuals/Sole Proprietorship accounts/Private Limited Companies
(b) Individuals/Sole Proprietorship Accounts/Partnership Accounts
(c) Individuals/Sole Proprietorship Accounts
(d) All of the above
(e) None of the above
Q4. Off Shore Banking Unit is?
(a) a unit which is situated in Foreign country
(b) a unit which is situated in Special Economic Zones and deals in foreign currency only
(c) a unit which is actively participating in lending foreign currency loans and in joint ventures
(d) All of the above
(e) None of the above
Q5. Which of the following is the apex authority for Direct Taxes? 
(a) CBDT 
(b) CBEC 
(c) RBI 
(d) SEBI 
(e) None of the above
Q6. All domestic products, including international companies operating within territory of a  country, and excluding domestic workers/companies operating in foreign countries, accounts for – 
(a) Gross Domestic Product (GDP) 
(b) Gross National Product (GNP) 
(c) Net National Product (NNP) 
(d) National Income (NI) 
(e) None of the above
Q7. Which of the following body has determined the new base year for calculating GDP of India? 
(a) Reserve Bank of India (RBI) 
(b) Securities and Exchange Board of India (SEBI) 
(c) Central Statistical Office (CSO) 
(d) Competition Commission India (CCI) 
(e) None of the above
Q8. Exchange rate or Conversion rate is – 
(a) the rate at which a currency is converted to another currency 
(b) the rate at which a bank pays interest to its savings deposits 
(c) the rate charged at foreign transactions 
(d) All of the above
(e) None of the above

Q9. If conversion rate of INR to USD increases, then the valuation of Indian Rupees – 
(a) increases 
(b) decreases 
(c) has no change 
(d) Inflation
(e) None of the above
Q10. If the valuation of a currency is increased with respect to another currency, then it is known as……….? 
(a) appreciation
(b) depreciation 
(c) devaluation 
(d) revaluation 
(e) None of the above
Q11. Which is not e-banking software?
(a) ECS
(b) MICR
(c) RTGS
(d) PIPS
(e) None of the above

Q12. Which is the feature of IBS (Integrated Banking System)?
(a) Multi Currency 
(b) Multi Entity 
(c) Multi Branch 
(d) All of the above
(e) None of the above
Q13. What does CBS stands for in Banking?
(a) Core Banking Solution
(b) Central Banking System 
(c) Currency Bank Software 
(d) Centralized Banking Software
(e) None of the above
Q14. In core banking systems?
(a) Store and forward of transaction is done 
(b) Branch server is not required 
(c) Local Database is not required 
(d) Transaction cannot happen form a non-home branch
(e) None of the above
Q15. Which of the following is the example of the brand of SBI? 
(a) SBI Mutual Fund
(b) Saving and Current Deposits 
(c) Car Loan 
(d) Home Loan
(e) None of the above