Set 4 - Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk

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  1. The rates charged by Reserve Bank on its advances to banks are treated as :
    (1) CRR
    (2) Repo rate
    (3) Bank rate
    (4) Reserve repo rate
    (5) None of these

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    Solution : 3
  2. Which among the following is the direct tax ?
    (1) Sales tax
    (2) Excise duty
    (3) Custom duty
    (4) Property tax
    (5) None of these

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    Solution : 4
    (4) ; Property tax is a direct tax. A tax that is paid directly by an individual or organization to the imposing entity. A taxpayer pays a direct tax to a government for different purposes, including real property tax, personal property tax, income tax or taxes on assets.
  3. What is "Open Market Operation"?
    (1) It is release of funds by RBI in open market
    (2) It is buying or selling of government securities in the open market by a central bank to inject or suck liquidity in the system
    (3) It is standby facility by RBI
    (4) It is selling of own share in open market
    (5) None of these

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    Solution : 2
    (2) ; Open market operation means buying or selling of government securities in the open market by a central bank to inject or suck liquidity.
  4. The process of total valuation of the financial capital assets of a country is technically known as :
    (1) Gross Domestic product
    (2) Market capitalization
    (3) Net wealth of a country
    (4) Gross Domestic Reserve
    (5) None of these

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    Solution : 3
    (3) ; Net wealth of a country. Microfinance is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services. The two main mechanisms for the delivery of financial services to such clients are : (i) relationship-based banking for individual entrepreneurs and small businesses; and (ii) group-based models, where several entrepreneurs come together to apply for loans and other services as a group.
  5. What is the full form of ULIP ?
    (1) Universal Life and Investment Plan
    (2) Universal Loan and Investment Plan
    (3) Uniformly Loan and Insurance Plan
    (4) Unit Linked Insurance plan
    (5) None of these

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    Solution : 4
  6. Which of the following country is considered to be the originator of the concept of micro - finance ?
    (1) India
    (2) Bangladesh
    (3) Australia
    (4) England
    (5) None of these

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    Solution : 2
    (2) ; Microfinance is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services.
  7. Which of the following is/are pillars of BASEL—III norms ?
    (i) Minimum Capital, Requirement
    (ii) Supervisory Review Process
    (iii) Market Discipline
    (1) All of the above
    (2) Only (i)
    (3) Only (ii)
    (4) Only (iii)
    (5) None of the above

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    Solution : 1
  8.  NELP stands for :
    (1) New Exclusive Licensing Policy
    (2) New Exploration Licensing Policy
    (3) New Explosive Licensing Policy
    (4) New Extreme Licensing Policy
    (5) None of these

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    Solution : 2
    (2) ; NELP— New Exploration Licensing Policy
  9. In Core Banking Solution (CBS), the term "Core" stands for :
    (1) Customer order real—time exchange
    (2) Centralized online real—time exchange
    (3) Customized online real—time exchanged
    (4) Centralized open real—time exchanged
    (5) None of these

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    Solution : 2
    (2) ; Core—Centralized online real-time exchange
  10. Which of the following can be considered as a situation of closed economy ?
    (1) When deficit financing takes place
    (2) When only export takes place
    (3) When neither import nor export takes place
    (4) When only impod-takes place
    (5) None of these

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    Solution : 3
    (3) ; In closed economy, neither import nor export takes place.
  11. Banks in India are required to maintain certain reserve with RBI. The ratio of cash reserve required to be maintained is known as :
    (1) Liquidity Ratio
    (2) SLR
    (3) CRR
    (4) Net Liability
    (5) None of these

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    Solution : 3
    (3) ; CRR—Cash Reserve Ratio
  12. What is the full form of CRIS ?
    (1) Cash Rating Index for Sovereigns
    (2) Comparative Rating Index for Sovereigns
    (3) Credit Rating Index for States
    (4) Common Rating Index for Sovereigns
    (5) None of these

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    Solution : 2
  13. India is not a member of which of the following groups ?
    (1) BRICS
    (2) NATO
    (3) OECD
    (4) UNLF
    (5) None of these

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    Solution : 2
    (2) ; India is not a member of North Atlantic Treaty Organization.
  14. Which one of the following deals in stock market ?
    (1) IRDA
    (2) UNICEF
    (3) SEBI
    (4) WTO
    (5) None of these

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    Solution : 3
    (3) ; Securities and Exchange Board of India (SEBI) ; deals in stock market.
  15. Which one of the following is not a type of cheque ?
    (1) Order cheque
    (2) Crossed cheque
    (3) Bearer cheque
    (4) Close cheque
    (5) None of these

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    Solution : 4
    (4) ; Close cheque is not a type of cheque.
  16. With which sector term Basel is associated ?
    (1) Telecom sector
    (2) Banking sector
    (3) Insurance sector
    (4) Share market
    (5) None of these

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    Solution : 2
    (2) ; Basel Committee is related to banking sector.
  17. The tenure of the non-permanent members Of the
    United Nations Security Council is for years.
    (1) 4
    (2) 5
    (3) 3
    (4) 2
    (5) None of these

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    Solution : 4
  18. "Special Drawing Rights" are the rights of countries provided by :
    (1) WTO
    (2) World Bank
    (3) IMF
    (4) ABD
    (5) None of these

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    Solution : 3
  19. Banks are adopting which of the following methods in order to increase the financial inclusion in the Indian economy ?
    (1) Internet Banking
    (2) Offshore Banking
    (3) Business Correspondent
    (4) Stimulus Package
    (5) None of these

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    Solution : 3
  20. Parallel Economy is also referred to as :
    (1) Grey market
    (2) Black Economy
    (3) Market Economy
    (4) Both (1) and (2)
    (5) None of these

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    Solution : 2
    (2) Parallel economy is also known as Black Economy.

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