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# General Awareness Quiz for ECGC PO & Bank Mains Exams 2021- 8th February

Q1. What is full form of MCLR?
(a)Margin Cost of Funds Based Lending Rate
(b)Marginal Cost of Lending Rate
(c)Marginal Cost of Funds Based Lending Rate
(d)Marginal Cost of Funds Based Lend Rate
(e)Marginal Costing of Funds Based Lending Rate

Q2. What is Base Rate?
(a)Lending rate
(b)Total cost of funds
(c)Minimum interest rate
(d)All of the above
(e)None of these

Q3. What is full form of PLS?
(a)Prime Lending Rate
(b)Prime Lend Rate
(c)Prime Lending Ratio
(d)Prime Lending Rating
(e)None of the above

Q4. What is function of Prime Lending Rate?
(a)Internal benchmark
(b)Setting up the interest
(c)Calculated based on average cost
(d)NBFC and HFC loan at discount
(e)All of the above

Q5. Which loans are related to MCLR rate?
(a)Float rating loans
(b)Floating rate loans
(c)Floor rating loans
(d)Formal rate loans
(e)All of the Above

Q6. Which of the following come under Floating rate loans?
(a)Car loan
(b)Home loan
(c)Loan against property
(d)Both A and c
(e)None of the above

Q7. Which loans come under fixed rate loans?
(a)Personal loans
(c)Gold loan
(d)Car loans
(e)All of these

Q8. What is the formula for calculating marginal cost?
(a)Change in Costs
(b)Change in Quantity
(c)Both A and B
(d)Reverse mortgage loans
(e)None of The Above

Q9. What is marginal cost of funds-based lending rate?
(a)Internal reference rate
(b)Fixed by the RBI
(c)define the minimum interest rate
(d)Different types of loans
(e)All of these

Q10. When is MCLR Introduced in India?
(a)April 2015
(b)April 2016
(c)May 2016
(d)April 2014
(e)May 2015

Q11. Why MCLR introduced in India?
(a)Help borrowers availing various loans
(b)Help bank to give loan
(c)Help borrow various loan
(d)Help lending loan easily
(e)Commercial loan

Q12. How base rate is calculated?
(a)The cost of deposits
(b)Costs borne by the bank
(c)Profitability of the bank
(e)All of the above

Q13. What is current base rate in India?
(a)8.30%
(b)7.30%
(c)6.30%
(d)7.40%
(e)7.20%

Q14. What is current MCLR in India?
(a)6.40%
(b)7.44%
(c)7.40%
(d)8.40%
(e)7.45%

Q15. What does low base mean?
(b)It effect in economics
(c)Low initial amount
(d)All of the above
(e)None of these

Solutions

S1.Ans(c)
Sol. The full form of MCLR is Marginal Cost of Funds Based Lending Rate.

S2.Ans(d)
Sol. Base Rate are Lending rate, Total cost of funds, and Minimum interest rate.

S3.Ans(a)
Sol. The full form of PLS is Prime Lending Rate.

S4.Ans(e)
Sol. Some functions of Prime Lending Rate are – Internal benchmark, Setting up the interest,
Calculated based on average cost and NBFC and HFC loan at discount,

S5.Ans(b)
Sol. Floating rate loans are related to MCLR rate.

S6.Ans(d)
Sol. Home loan and loan against property schemes are floating rate loans.

S7.Ans(e)
Sol. Personal loans, Business loan, Gold loan, Car loans all are come under fixed rate loans.

S8.Ans(c)
Sol. The formula for calculating marginal cost is as follows: Marginal Cost = (Change in Costs) / (Change in Quantity).

S9.Ans(e)
Sol. The marginal cost of funds-based lending rate (MCLR) is an internal reference rate for banks fixed by the RBI. It helps banks to define the minimum interest rate on different types of loans.

S10.Ans(b)
Sol. Marginal Cost of Funds Based Lending Rate (MCLR) was introduced in April 2016.

S11.Ans(a)
Sol. MCLR introduced in India for Help borrowers availing various loans (including home loans) benefit from the Reserve Bank of India’s (RBI) rate cut.

S12.Ans(e)
Sol. Base rate calculation are following step that is cost of deposits, costs borne by the bank, the profitability of the bank in the previous financial year and unallocated overhead costs among other things.

S13.Ans(b)
Sol. The current base rate in India is 7.30%,

S14.Ans(b)
Sol. The MCLR for 1 year will be at 7.40% compared to its previous rate of 7.45%.

S15.Ans(d)
Sol. Low base effect in business and economics is the tendency of a small absolute change from a low initial amount to be translated into a large percentage change.

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