Set 25 – Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk

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  1. In case of a personal loan where there is default is repayment; say for 90 days, the account may be classified as…………….. asset.
    (1) Sub-standard
    (2) Doubtful
    (3) Loss
    (4) Dormant
    (5) None of these

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    Solution :     (3)  In case of a personal loan, where there is default in repayment, say for 90 days, the account may be classified as loss asset.
  2. Where the interest rate swaps the floating rate in one currency and exchanged for fixed rate in another currency, it is called :
    (1) Quanto swap
    (2) Coupon swap
    (3) Plain Vanila swap
    (4) Swap option
    (5) None of these

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    Solution :    (2)  An exchange of income streams in which the stream of floating interest-rate payments is made periodically, as it would be in a plain vanilla swap, but the stream of fixed-rate payments is made as one lump-sum payment when the swap reaches maturity instead of periodically over the life of the swap. The amount of the fixed-rate payment is based on the swap’s zero coupon rate.
  3. The rate of interest bank charge to its maintained major and prime customers is popularly known as :(1) Risk premium
    (2) Prime lending rate
    (3) Repo rate
    (4) Reserve repo rate
    (5) MSF

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    Solution :     (2)  The rate of interest, bank charge to its maintained major and prime customers is popularly known as prime lending rate.The interest rate that commercial banks charge their most credit-worthy customers. Generally a bank’s best customers consist of large corporations. The prime interest rate, or prime lending rate, is largely determined by the federal funds rate, which is the overnight rate which banks lend to one another.
  4. Which of the following bank was not nationalised in 1969?
    (1) State Bank of India
    (2) Allahabad Bank
    (3) Bank of India
    (4) United Bank of India
    (5) Punjab National Bank

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    Solution :     (1) State Bank of India was nationalized in 1955.
  5. Which of the following is the currency of Maldives?
    (1) Dinar
    (2) Dirham
    (3) Lari
    (4) Rufiyaa
    (5) None of these

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    Solution :    (4)  Rufiyaa is the currency of Maldives.
  6. The international court of justice is the primary judicial organ of the
    (1) World Bank
    (2) United Nations
    (3) IMF
    (4) SAARC
    (5) None of these

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    Solution :     (2) International Court of Justice is the primary judicial organ of the United Nations.
  7. Which of the following book is written by Ashutosh?
    (1) Zohra Sehgal: Fatty
    (2) The Immortals
    (3) Anna :13 Days that Awakened India
    (4) Satanic Verses
    (5) None of these

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    Solution :    (3) For other :
    Zohra Sehgal : Fatty – Kiran Sehgal
    The Immortals – Alyson Noel
    Satanic Verses – Salman Rushdie
  8. Ad valorem tax is levied on the basis of which among the following?
    (1) Volume
    (2) Value
    (3) Production
    (4) Export
    (5) Import

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    Solution :     (2)  Ad valorem tax is levied on the basis of value. A tax based on the assessed value of real estate or personal property. Ad valorem taxes can be property tax or even duty on imported items. Property ad valorem taxes governments.
  9. The most active segment money market in India is one of the following?
    (1) Call money / Notice market
    (2) Repo / Reverse repo
    (3) Commercial paper
    (4) Certificate of deposit
    (5) None of these

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    Solution :    (1) Call money is a very short-term bank loan that does not contain regular principal and interest payments. It is often used by brokerage firms to finance margin accounts.
  10. Which of the following example of unorganized money market?
    (1) Commercial Bank
    (2) Insurance
    (3) Mutual Funds
    (4) Chit Fund Companies
    (5) None of these

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    Solution :   (4)
  11. An instrument that derives its value from a specified underlying currency, gold, stocks, etc. is known as :
    (1) Derivative
    (2) Securitization receipts
    (3) Hedge fund
    (4) Factoring
    (5) None of these

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    Solution :    (3)  An instrument that derives its value from a specified underlying (currency, gold, stocks, etc) is known as a hedge fund.An aggressively managed portfolio of investments that uses advanced investment strategies such as leveraged, long, short and derivative positions in both domestic and international markets with the goal of generating high returns.
  12. The capital adequacy norms in banks were introduced by RBI in:
    (1) April 1991
    (2) April 1992
    (3) March 1992
    (4) July 1992
    (5) None of these

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    Solution :    (2)
  13. ‘Refund Banker Scheme’ has been launched by:
    (1) IBA
    (2) SEBI
    (3) RBI
    (4) Income tax
    (5) LIC

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    Solution :    (4)
  14. Which of the following is not a part of the scheduled banking structure in India?
    (1) Money lenders
    (2) Public sector banks
    (3) Private sector banks
    (4) Regional rural banks
    (5) None of these

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    Solution :   (1) Money lenders are not a part of scheduled banking structure in India.
  15. Which of the following is not a part of India’s money market?
    (1) Bill market
    (2) Call money market
    (3) Banks
    (4) Mutual funds
    (5) Indian gold council

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    Solution :    (5) Indian Gold Council is not a part of India’s money
    market.
  16. Which of the following public sector companies/organizations provide insurance cover to exporters?
    (1) ECGC
    (2) NABARD
    (3) IRDA
    (4) SIDBI
    (5) None of these

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    Solution :    (1) ECGC – Export Credit Guarantee Corporation.Export Credit Guarantee Corporation of India Ltd. ( ECGC ) is a Government of India Enterprise which provides export credit insurance facilities to exporters and banks in India. It functions under the administrative control of Ministry of Commerce & Industry, and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, insurance and exporting community.
  17. Banks act as…………….. between people having surplus money and those borrowing money.
    (1) Agent
    (2) Money lender
    (3) Organization
    (4) Intermediary
    (5) None of these

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    Solution :  (4) ; Banks act as intermediary between people having surplus money and those borrowing money.
  18. The RBI’s method of credit may be broadly classified into :
    (1) Quantitative and qualitative
    (2) Open and close
    (3) Monetary and fiscal
    (4) Rural and urban
    (5) None of the above

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    Solution :    (1)  Quantitative credit control method include change in bank rate, CRR and SLR etc, while qualitative or indirect credit control methods include moral suasion, rationing of credit etc .
  19. Which of the following is the least liquid assets ?
    (1) Fixed capital
    (2) Money
    (3) Shares
    (4) Special Deposits
    (5) None of these

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    Solution :    (1)
  20. Which of the following is the highest civilian award in India ?
    (1) Padma Vibhushan
    (2) Padma Bhushan
    (3) Padma Shri
    (4) Bharat Ratna
    (5) Dronacharya Award

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    Solution :    Bharat Ratna is the Republic of India’s highest civilian award which is awarded for highest degree of national service. Recently, it is given to Atal Bihari Vajpayee and Pt. Madan Mohan Malaviya.

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