General Awareness Quiz for ECGC PO & Bank Mains Exams 2021- 5th February

Q1. In term of agriculture loan in India, the short-term credit refers to the loan made for a period less than?
(a)1 year
(b)18 Months
(c)24 Months
(d)15 Months
(e)20 Months

Q2. What is loan limited for education under priority sector lending (PSL) for studying in India and Abroad respectively?
(a)Rs.20 Lakhs, Rs.10 Lakhs
(b) Rs.10 Lakhs, Rs.20 Lakhs
(c) Rs.15 Lakhs, Rs.20 Lakhs
(d) Rs.25 Lakhs, Rs.30 Lakhs
(e) Rs.20 Lakhs, Rs.25 Lakhs

Q3. What are teaser loan rates charged by banks?
(a)Low rate of interest in the initial period which goes up subsequently
(b)Floating rate of interest charged by banks
(c)Rate of interest which is competitively changed in relation to other banks
(d)Higher rate of interest in the initial period which goes down subsequently
(e)None of the above

Q4. What are the types of loans in banks?
(a)Personal Loans.
(b)Home-Equity Loans.
(c)Small Business Loans.
(d)All of the above
(e)None of the above

Q5. What are the types of loans for homes?
(a)FHA mortgage
(b)Fixed rate mortgage
(c)Interest Only Mortgages
(d)VA mortgage
(e)All of the Above

Q6. What is a conventional loan?
(a)Mortgage loan
(b)Short term loan
(c)Long term loan
(d)Interest credit
(e)None of the above

Q7. With which of following types of loans are teaser rates related?
(a)Personal loans
(b)Reverse mortgage loans
(c)Home loans
(d)Car loans
(e)Auto loans

Q8. What do we call a soft loan that is granted on very favorable terms to the borrower?
(a)Personal Loan
(b)Concessional Loan
(c)Subsidized loan
(d)Reverse mortgage loans
(e)None of The Above

Q9. The rate of interest in an unsecured loan is usually ____ than a secured loan.
(d)Only B
(e)None of the above

Q10. What type of loan is a bank guarantee?
(e)None of the above

Q11. Personal Loans are also called as by which of the following names?
(a)Unsecured loan
(b)Signature loan
(c)Both A and B
(d)Consumer loan
(e)Commercial loan

Q12. What is the tenure for the Equipment Financing Loan?
(a)3-4 years
(b)4-5 years
(c)1-3 years
(d)2-5 years
(e)5-7 years

Q13. Packing credit is a type of loans generally given to______.
(c)Salaried person
(e)None of these

Q14. How many types of loans are there in India?
(a)12 Types
(b)15 Types
(c)20 Types
(d)22 Types
(e)25 Types

Q15. What is the maximum loan duration for the Personal Loan?
(a)2-5 years
(b)1-5 years
(c)2-4 years
(d)1-8 years
(e)1-10 years


Sol. In case of agriculture loan, there are three types of loan viz. short term (tenure 5 years).

Sol. Rs.10 Lakhs to Rs.20 lakhs, for education under priority sector lending (PSL) for studying in India and Abroad.

Sol. The teaser loan rates charged by banks on Low rate of interest in the initial period which goes up subsequently.

Sol. The types of loans in banks are given below
Personal Loans.
Credit Cards.
Home-Equity Loans.
Home-Equity Lines of Credit.
Credit Card Cash Advances.
Small Business Loans.

Sol. There four types of mortgage loans for home buyers today: fixed rate, FHA mortgages, VA mortgages and interest-only loans.

Sol. A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower.

Sol. Home loans are related teaser rates .

Sol. A concessional loan has very compromising loan terms with respect to the rate of interest, grace periods for repayment, longer terms etc.

Sol. The rate of interest for an unsecured loan is always higher.

Sol. Commercial loan is a bank guarantee.

Sol. Personal loans are sometimes called signature loans or unsecured loans because there is typically no collateral required to secure a personal loan.

Sol. The tenure option for most of the banks will be 5 to 7 years, but mostly it will depend from which bank you are availing loan and the nature of your business.

Sol. Packing credit is a type of loans generally given to Exporters.

Sol. There are 20 Types of Loans in India: Car Loan or Vehicle Loan, Personal Loan, Education Loan, Gold Loan, Loan from unorganized sector, Working Capital Loan, Over Draft and many more.

Sol. It can be 1 to 5 years or 12 to 60 months. Shorter or longer tenures may be allowed on a case-by-case basis, but it is rare.

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