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Banking and Financial Awareness for IBPS/BOM Exams

Banking and Financial Awareness for IBPS/BOM Exams |_2.1



Q1. If the Bill of Exchange is not honored on the due date, there is always a change the drawer will become liable on the bill. This is called a Contingent Liability. What does it mean? 
(a) A liability that will only arise if a certain event occurs
(b) A liability that will remain valid until the debtor pays his debt
(c) Both (a) and (b)
(d) Interest or principal of loan amount is defaulted for 3 to 12 months
(e) None of the above

Q2. What is the time period to mark a loan asset as non-performing? 
(a) 1 year non-payment of interest or principal of loan amount
(b) 1 months non-payment of interest or principal of loan amount
(c) 3 months non-payment of interest or principal of loan amount
(d) All of the above
(e) None of the above

Q3. What is the full form of SARFAESI Act?
(a) Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest
(b) Securitization and Restructurization of Financial Assets and Enforcement of Security Interest
(c) Securitization and Reconstruction of Financial Assets and Enforcement of Securitization Interest
(d) All of the above
(e) None of the above

Q4. Which of the following is/are Asset Reconstruction Companies (ARC)? 
(a) ARCIL
(b) ACRE
(c) Phoenix ARC Pvt. Ltd.
(d) All of the above
(e) None of the above

Q5. Which of the following is not a sector for Priority Sector Lending (PSL)? 
(a) Agriculture and Allied Activities
(b) Large Industrial Sector
(c) Weaker Section
(d) Micro Credit
(e) None of the above

Q6. Mobile Wallet is a type of – 
(a) Debit Card
(b) Credit Card
(c) Prepaid Card
(d) All of the above
(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. The first nationalisation of banks exercise was done on…………..?
(a) 19th July, 1969
(b) 19th June, 1970
(c) 19th June, 1967
(d) 15th July, 1967
(e) None of the above


Q12. How many banks were nationalised in the second phase in 1980?
(a) 5
(b) 6
(c) 7
(d) 4
(e) 1

Q13. Axis Bank is the changed name of
(a) IDBI
(b) ICICI
(c) UTI
(d) UTO
(e) RBI


Q14. The word ‘Bank’ is derived from…………….?
(a) German word ‘back’ which means a joint stock fund’
(b) Italian word ‘banco’
(c) words ‘bancus’ or banque’ which means ‘a bench’
(d) All of the above
(e) None of the above

Q15. Which one of the public sector bank has completed 100 years of its establishment on 21st December, 2011?
(a) Central Bank of India
(b) State Bank of India
(c) Punjab National Bank
(d) Bank of Baroda
(e) Allahabad Bank

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