Set 5 – Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk

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  1. Which of the following terms is not used in banking sector ?
    (1) CRR
    (2) NPA
    (3) SLR
    (4) PURA
    (5) None of these

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    Solution : 4
    (4) ; CRR , SLR and NPA are the terms that are used in banking sector.The banking sector in India is on a growing trend. It has vastly benefitted from the surge in disposable income of individuals in the country. There.has also been a noticeable upsurge in transactions through ATMs, and also internet and mobile banking.
  2. The Financial Development Index is published by which of the following organizations ?
    (1) United Nation Development Organization
    (2) World Health Organization
    (3) World Economic Forum
    (4) United Nation Organization
    (5) None of these

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    Solution : 3
    (3) ; The Financial Development Index is a report which is published by World Economic Forum. The World Economic Forum (WEF) is a Swiss non-profit foundation, based in Cologny, Geneva. It describes itself as an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.
  3. Which of the follOwing measures can be used in order to check persistent inflationary condition ?
    (1) Surplus budgeting
    (2) Curtailing public expenditure
    (3) Increasing direct taxation
    (4) All of the above
    (5) None of the above

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    Solution : 4
    (4) ; Surplus Budgeting, curtailing public expenditure, increasing direct taxation measures can be used in order to check persistent inflationary condition.
  4. In case of nationalized bank, who among the following is the largest shareholder ?
    (1) NHB
    (2) RBI
    (3) Government of India
    (4) NABARD
    (5) None of these

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    Solution : 3
     (3) ; Government of India is the largest shareholder.
  5. If in any company, an individual used price sensitive corporate information to make profit then this activity is known as :
    (1) Forex trading
    (2) Foreign trading
    (3) Stock trading
    (4) Insider trading
    (5) None of these

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    Solution : 4
    (4) ; Insider trading is the trading of a public company’s stock or other securities (such as bonds or stock options) by individuals with access to non-public information about the company. In various countries, trading based on insider information is illegal.
  6. What type of agency is CARE ?
    (1) Development Bank
    (2) Investment Bank
    (3) Credit Rating Agency
    (4) Share Depository
    (5) None of these

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    Solution : 3
     (3) ; CARE is a credit rating agency. A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor’s ability to pay back debt by making timely interest payments and the likelihood of default.
  7. What is the full form of CVC ?
    (1) Central Vigilance Committee
    (2) Coastal Vigilance Commission
    (3) Central Visit Constitution
    (4) Central Vigilance Commission
    (5) None of these

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    Solution : 4
    (4) ; CVC stands for Central Vigilance Commission.
  8. Kyoto Protocol is related to which of the following ?
    (1) Biological Diversity
    (2) Global warming
    (3) Soil Erosion
    (4) Atomic energy
    (5) None of these

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    Solution : 2
     (2) ; Kyoto Protocol is related to global warming. The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change, which commits its Parties by setting internationally binding emission reduction targets.
  9. Term Deposit can be accepted by banks for a minimum tiluration of :
    (1) 5 days
    (2) 15 days
    (3) 7 days
    (4) 1 month
    (5) None of these

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    Solution : 3
    (3) Term deposits are an extremely safe investment and are therefore very appealing to conservative, low-risk investors. By having the Money tied up you’ll generally get a higher rate with a term deposit compared with a demand deposit.
  10.  If a country is devalued, then what will be its effects ?
    (1) The import will increase
    (2) Budget deficit will increase
    (3) A country’s import and its, foreign reserves will increase
    (4) A country’s export will increase and there will be improvement in its BoP
    (5) None of these

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    Solution : 4
     (4) ; Export of country will increase and there will be improvement in its BoP.
  11. Floating Exchange Rate is also known as :
    (1) Fixed Exchange Rate
    (2) Real Exchange Rate
    (3) Controlled Exchahge Rate
    (4) Flexible Exchange Rate
    (5) Nome of these

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    Solution : 4
    (4) ; A country’s exchange rate regime where its, currency is set by the foreign-exchange market through ‘supply and demand for that particular currency relative to other currencies. Thus, floating exchange rates change freely and are determined by trading in the forex market.
  12. Which UN specialized organization is charged with facilitating the exchange of weather and climate information ?
    (1) World Weather Union (WWU)
    (2) Weather Forecasting Organization (WFO)
    (3) World Meteorological Organization (WMO)
    (4) International Weather Union (IWU)
    (5) None of these

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    Solution : 3
     (3) ; World Meteorological Organization (WMO)
  13. Which of the following imposes tax in India ?
    (i) State Government
    (ii) Central Government.
    (iii) RBI
    (1) Only (i)
    (2) Both (i) and (ii)
    (3) Only (iii)
    (4) Both (ii) and (iii)
    (5) None of these

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    Solution : 2
    (2) ; State Government /and Central Government implies taxes in India; there are two types of taxes prevailing in India;: clirkt tax and indirect tax.
  14. Who among the following is at the top of RBI’s organizational structure ?
    (1) Governor
    (2) Central Board of Directors
    (3) Executive Directors
    (4) Principal Chief General Manager
    (5) Chief General Manager

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    Solution : 2
    (2) ; Central Board of Directors
    Governor
    Deputy Governor
    Executive Directors
    Principal Chief General Manager
    Chief General Manager
    Qeneral Manager
  15. Which among the following is not the party to a bank draft ?
    (1) The drawee branch
    (2) The drawer branch
    (3) The payee .
    (4) Both (1) and (2)
    (5) All (1), (2) and (3)

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    Solution : 5
    (5) ; There are three parties to a bank draft :
    (i) the drawee branch
    (ii) the drawer branch
    (iii) the payee
    A type of check where the payment is guaranteed to be available by issuing bank. Typically, banks will review the bank draft requester’s account to see if sufficient funds are available for the check to clear.
  16. What is the full form of DSCI ?
    (1) Data Security Council of India
    (2) Data Safety Council of India
    (3) Digital Security ,Council of India
    (4) Divisional Security Council of India
    (5) None of these

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    Solution : 1
     (1) DSCI — Data Security Council of India. The Data Security Council of India (DSCI) is a not-for-profit organization created to promote the country as a secure destination for information technology (IT) outsourcing.
  17. What is the full form of NPA ?
    (1) Non Performance Audit
    (2) Non Performing Asset
    (3) New Permission Auclit
    (4) New Promotion Asset
    (5) None of these

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    Solution : 2
    (2) NPA—Non Performing Asset. A Non- performing asset (NPA) is defined as a credit facility in respect of which the interest and/or installment of principal, has remained ‘past due’ for a specified period of time.
  18. The deficit budget in which the deficits are covered through taxes is called :
    (1) Balance Budget
    (2) Surplus Budget
    (3) Unbalance Budget
    (4) Zero Base Budget
    (5) None of these

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    Solution : 3
     (3) Unbalance Budget—A status of financial health in which expeiiditures exceed revenue. The term “budget deficit” is most cornmonly used to refer to government spending rather than business or individual spending. When referring to accrued federal government deficits, the term “national debt’ is used.
  19. Where is the head office of RBI situated ?
    (1) Mumbai
    (2) Kolkata
    (3) Chennai
    (4) Delhi
    (5) None of these

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    Solution : 1
    (1) At present, RBI head office is in Mumbai, while earlier it was in Kolkata.
  20. When were the commercial papers founded ?
    (1) 1999
    (2) 1898
    (3) 1990
    (4) 1989
    (5) None of these

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    Solution : 3
    (3) ; Commercial paper is a money-market security issued (sold), by large corporations to obtain fluids 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.

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