Set 11 - Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk


  1. Which of the following is considered as an International currency ?
    (1) ADR
    (2) SDR
    (3) GDR
    (4) IDR
    (5) None of these

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    Solution : (2) SDR is also known as  international currency.The SDR>
    is an international reserve asset, created by the IMF in 1969 to supplement its member countries' official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies.
  2. Explain ESOP :
    (1) Employee Stock Organization Plan
    (2) Employee Stock Option Plan
    (3) External Stock Option Plan
    (4) External Stock Organization Policy
    (5) None of these

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    Solution :  (2) ESOP-Employee Stock Option Plan. Many companies use employee stock options plans to compensate, retain, and attract employees. These plans are contracts between a company and its employees that give employees the right to buy a specific number of the company'sshares at a fixed price within a certain period of time.
  3. Demand Draft is considered as a :
    (1) Current Liability
    (2) Price Liability
    (3) Long term Liability
    (4) Demand Liability
    (5) None of these

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    Solution : (4)  A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party.
  4. Which of the following word is used in Banking terminology ?
    (1) Displacement
    (2) NPA
    (3) Biosphere
    (4) Velocity
    (5) None of these

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    Solution : (2)  NPA-Non-Performing Assets. A classification used by financial institutions that refer to loans that are in jeopardy of default. Once the borrower has failed to make interest or principal payments for 90 days the loan is considered to be a non-performing asset.
  5. Expand CTBT.
    (1) Comprehensive Nuclear Test Ban Treaty
    (2) Costly Nuclear Test Ban Treaty
    (3) Control Bank Transaction Tax
    (4) Consolidate Nuclear Test Ban Treaty
    (5) None of these

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    Solution :  (1)  CTBT - Comprehensive Nuclear Test Ban Treaty. The Comprehensive Nuclear-Test-Ban Treaty (CTBT) is the Treaty banning all nuclear explosions - everywhere, by everyone. The Treaty was negotiated at the Conference on Disarmament in Geneva and adopted by the United Nations General Assembly. It opened for signature on 24 September 1996.
  6. Regional Rural Banks were established in India on the recommendation of which of the follwing committees ?
    (1) C. Rangrajan committee
    (2) S.M. Kelkar committee
    (3) B. Shivraman committee
    (4) Usha Thorat committee
    (5) None of these

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    Solution :  (3) Regional Rural Banks were  established on the recommendation of
    B. Shivraman Committee.
  7. Which of the following is not a kind of endorsement in banks ?
    (1) Endorsement in full
    (2) Conditional endorsement
    (3) Restrictive endorsement
    (4) Non- conditional endorsement
    (5) None of these

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    Solution : (4)
  8.  In how many categories the Padma Awards are conferred ?
    (1) 2
    (2) 3
    (3) 4
    (4) 5
    (5) None of these

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    Solution :  (2) Padma Awards are distinguished in three categories :
    (a) Padma Shri
    (b) Padma Vibhushan
    (c) Padma Bhushan
  9. Which of the following statement is not correct ?
    (1) RBI is a central bank of our country
    (2) RBI deals in foreign exchange
    (3) RBI controls currency system
    (4) RBI was established on April 1949
    (5) None of these

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    Solution : (4) RBI was established on 1st April,1935.
  10. Which of the following is meant to ensure exports from India ?
    (1) ECGC
    (2) CRISIL
    (3) FICCI
    (4) EXIM
    (5) None of these

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    Solution :  (1) ECGC-Export Credit Guarantee Corporation. It is a company wholly owned by Government of India based in Mumbai, Maharashtra.
  11.  Full form of EPZ is :
    (1) Export Promotion Zone
    (2) External Protection Zone
    (3) Export Processing Zone
    (4) Export Promoting Zone
    (5) None of these

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    Solution :  (3) EPZ- Export Processing Zone. An Export Processing Zone (EPZ) is a Customs area where one is allowed to import plant, machinery, equipment and material for the manufacture of export goods under security, without payment of duty.
  12. "Smart money" is also known as :
    (1) Travellers cheque
    (2) Credit card
    (3) Internet Banking
    (4) Foreign currency
    (5) None of these

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    Solution : (2) Smart money is, also known as  credit card, a small plastic card issued by a bank, building society, etc., allowing the holder to purchase goods or services on credit.
  13. The process of selling insurance products by banks is called
    (1) Reinsurance
    (2) Life insurance
    (3) Bancassurance
    (4) General insurance
    (5) None of these

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    Solution : (3) Bancassurance-The process of selling insurance products by banks is called bancassurance. It is a relationship between a bank and insurance company. Insurance companies with the help of bank channel sell their insurance products.
  14. Which of the following rates are not directed by Reserve Bank of India ?
    (1) CRR
    (2) SLR
    (3) Repo rate
    (4) Base rate
    (5) None of these

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    Solution : (4)  Base rate is directed by banks themselves not by RBI.
  15. What is the maximum investment limit in senior citizens saving scheme, 2004 ?
    (1) 15 lakh
    (2) 20 lakh
    (3) 25 lakh
    (4) 10 lakh
    (5) None of these

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    Solution : (1) The maximum investment limit in senior citizen saving scheme is 15 lakh.
  16.  In BSBDA - small account, the total of debits by way of cash withdrawal and transfer should not exceed ..............in a month.
    (1) 20,000
    (2) 15,000
    (3) 10,000
    (4) 5,000
    (5) None of these

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    Solution : (3) The 'Basic Savings Bank Deposit Account' would be subject to RBI instructions on Know Your Customer (KYC) / Anti-Money Laundering (AML) for opening of bank accounts issued from time to time. If such account is opened on the basis of simplified KYC norms, the account would additionally be treated as a 'Small Account'.
  17. Who regulates money market ?
    (1) RBI
    (2) SBI
    (3) SEBI
    (4) IRDA
    (5) None of these

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    Solution : (1) Money market is regulated by RBI
  18.  DFHI stands for :
    (1) Different Financial House Industries
    (2) Discount and Finance House of India
    (3) Discount and Financial House of India
    (4) Deflation and Frequency House of India
    (5) None of these

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    Solution : (2) DFHI- Discount and Finance House of India
  19. What is the minimum maturity period of commercial papers ?
    (1) 8 days
    (2) 15 days
    (3) 7 days
    (4) 14 days
    (5) None of these

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    Solution : (3)  Minimum maturity period of commercial papers is 7 days.Commercial paper is a money-market security issued (sold) by large corporations to obtain funds to meet short-term debt obligations (for example, payroll), and is backed only by an issuing bank or corporation's promise to pay the face amount on the maturity date specified on the note.
  20. When was the repo market introduced ?
    (1) 1985
    (2) 1882
    (3) 1990
    (4) 1992
    (5) None of these

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    Solution : (4) Repo market was introduced in 1992.


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