Bank Clerk Exam! Trivia Quiz
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Are you aware of what a bank clerk does? Do you think you could pass this quiz? A bank clerk is an member of staff of a bank who receives and pays money. A bank clerk serves as the principal point of contact for most bank customers, administering the most basic banking transactions, and answering questions. Take this quiz and discover out more about what a bank clerk does.
Questions and Answers
- 1.
The Foreign Exchange Reserve of India is kept in the custody of……
- A.
World Bank
- B.
International Monetary Fund
- C.
Prime Minister Rahat Kosh
- D.
Reserve Bank of India
- E.
None of these
Correct Answer
D. Reserve Bank of IndiaExplanation
The correct answer is Reserve Bank of India. The foreign exchange reserve of India is kept in the custody of the Reserve Bank of India. As the central bank of the country, the Reserve Bank of India is responsible for managing the foreign exchange reserves, which include foreign currencies, gold, and other internationally accepted assets. The Reserve Bank of India plays a crucial role in maintaining the stability of the Indian rupee and managing the country's external financial position.Rate this question:
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- 2.
The Reserve Bank of India issues coins and notes of various denominations. At present, RBI does not issue coins of which of the following denominations?
- A.
10 paise
- B.
20 paise
- C.
25 paise
- D.
50 Rupee
- E.
1•00 Rupee
Correct Answer
B. 20 paiseExplanation
The Reserve Bank of India does not issue coins of 20 paise denomination.Rate this question:
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- 3.
The European Union has adopted which of the following as a common currency?
- A.
Dollar
- B.
Dinar
- C.
Yen
- D.
Peso
- E.
Euro
Correct Answer
E. EuroExplanation
The European Union has adopted the Euro as a common currency. The Euro was introduced in 1999 and is currently used by 19 out of the 27 member states of the European Union. It was established to facilitate economic integration and promote trade among member countries. The Euro is managed by the European Central Bank and has become one of the most widely used currencies in the world.Rate this question:
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- 4.
Various Banks in the country have installed machines that disburse money to the general public. These machines are called……
- A.
Coin dispensing machines
- B.
ATMs
- C.
Debit Card Machines
- D.
Ledger Machines
- E.
None of these
Correct Answer
B. ATMsExplanation
ATMs (Automated Teller Machines) are machines installed by various banks that dispense money to the general public. They allow customers to withdraw cash, check their account balance, and perform other banking transactions without the need for human assistance. Unlike coin dispensing machines, ATMs can dispense both coins and banknotes. Debit card machines are used for making payments using debit cards, while ledger machines are used for keeping records of financial transactions. Therefore, the correct answer is ATMs.Rate this question:
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- 5.
Which of the following names is not associated with the insurance business in India?
- A.
Bajaj Allianz
- B.
LIC
- C.
GIC
- D.
Tata AIG
- E.
GE Money
Correct Answer
E. GE MoneyExplanation
GE Money is not associated with the insurance business in India. Bajaj Allianz, LIC, GIC, and Tata AIG are all well-known insurance companies operating in India. However, GE Money is a financial services company that primarily focuses on providing consumer finance and credit services, rather than insurance products.Rate this question:
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- 6.
Commodity Exchanges at various places in India are trading in many metals like gold, silver, etc. Many times we read in newspapers that gold no more has remained the highest trading option and has been replaced by a non-traditional metal known as……
- A.
Copper
- B.
Steel
- C.
Zinc
- D.
White gold
- E.
None of these
Correct Answer
D. White gold -
- 7.
Which of the following is known as Plastic money ? 1. Demand Draft 2. Credit Card 3. Debit Card
- A.
Only 1
- B.
Only 2
- C.
Only 3
- D.
Both 2 and 3
- E.
All 1, 2 and 3
Correct Answer
D. Both 2 and 3Explanation
Plastic money refers to the use of cards made of plastic, such as credit cards and debit cards, for making transactions instead of using physical cash. Both credit cards and debit cards fall under the category of plastic money as they are made of plastic and are used for making payments electronically. Therefore, the correct answer is both option 2 and 3 - credit card and debit card.Rate this question:
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- 8.
Many a time we see a term in newspapers ‘IPO’. What is the full form of the same?
- A.
Indian Public Offer
- B.
Institutional Purchase
- C.
Industrial Purchase Order
- D.
Indian Purchase Offer
- E.
Initial Public Offer
Correct Answer
E. Initial Public OfferExplanation
An Initial Public Offer (IPO) is the first sale of stock by a company to the public. It is a way for companies to raise capital and become publicly traded. During an IPO, a company offers shares of its stock to the public for the first time, allowing individuals and institutional investors to purchase ownership in the company. This term is commonly seen in newspapers when a company is going public and offering its shares to the public for the first time.Rate this question:
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- 9.
Many times we read in financial newspapers a term/name NMCEX. What is the full form of the same?
- A.
New Multi Capital Exchange
- B.
National Medium Commodity Exchange
- C.
National Multi Commodity Exchange
- D.
Net Marketable Commodity Exchange
- E.
None of these
Correct Answer
C. National Multi Commodity ExchangeExplanation
The correct answer is National Multi Commodity Exchange. NMCEX stands for National Multi Commodity Exchange, which is a term often mentioned in financial newspapers. This exchange deals with the trading of various commodities, allowing investors to buy and sell commodities such as metals, energy, agricultural products, and more.Rate this question:
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- 10.
Many Banks these days are entering into the business of offering loans against property. This business of the banks can be categorized under which of the following heads of banking?
- A.
Corporate Banking
- B.
Personal Banking
- C.
Merchant Banking
- D.
Portfolio Management Service
- E.
None of these
Correct Answer
B. Personal BankingExplanation
The correct answer is Personal Banking because offering loans against property is a service provided to individual customers for their personal financial needs. Corporate Banking typically deals with financial services for corporations and businesses, while Merchant Banking focuses on providing financial advice and services to businesses. Portfolio Management Service involves managing investment portfolios for clients. Therefore, Personal Banking is the most suitable category for banks offering loans against property to individuals.Rate this question:
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- 11.
Which of the following organizations/banks has done commendable work in the field of microfinance and was awarded Nobel Prize also in the past?
- A.
Gramin Bank of Bangladesh
- B.
CRY
- C.
ASHA
- D.
NABARD
- E.
None of these
Correct Answer
A. Gramin Bank of BangladeshExplanation
Gramin Bank of Bangladesh has done commendable work in the field of microfinance and was awarded the Nobel Prize in the past. This recognition highlights the significant impact and success of the bank's efforts in providing financial services to low-income individuals and small businesses in rural areas of Bangladesh. The Nobel Prize further acknowledges the bank's contribution towards poverty alleviation and economic development through its microfinance initiatives.Rate this question:
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- 12.
Nobel Prizes are not given for the performance in the area of…
- A.
Literature
- B.
Physics
- C.
Chemistry
- D.
Music
- E.
Medical Science
Correct Answer
D. MusicExplanation
The Nobel Prizes are prestigious awards given in recognition of outstanding achievements in various fields. While Literature, Physics, Chemistry, and Medical Science are all areas in which Nobel Prizes are awarded, Music is not. The Nobel Prize in Literature is awarded to an author for their exceptional literary work, while the Nobel Prizes in Physics, Chemistry, and Medicine are awarded to individuals or groups for their significant contributions in their respective scientific fields. However, there is no Nobel Prize specifically designated for Music.Rate this question:
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- 13.
In which of the following Hindi films has actor Shahrukh Khan played the role of a Hockey Coach?
- A.
Guru
- B.
Chak De India
- C.
Om Shanti Om
- D.
Jab We Met
- E.
None of these
Correct Answer
B. Chak De IndiaExplanation
In the film "Chak De India," Shahrukh Khan plays the role of a Hockey Coach. This film revolves around the story of a former hockey player who is given the opportunity to coach the Indian women's national hockey team. Shahrukh Khan's character faces various challenges and obstacles as he tries to train and unite the team to achieve success in international competitions. The film highlights the importance of teamwork, determination, and overcoming societal stereotypes.Rate this question:
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- 14.
Which of the following countries has not made any significant investment in India?
- A.
Japan
- B.
USA
- C.
Nepal
- D.
Britain
- E.
France
Correct Answer
C. NepalExplanation
Nepal has not made any significant investment in India. This can be attributed to various factors such as geographical proximity, economic constraints, and political relations between the two countries. Nepal, being a landlocked country, may have limited resources and capacity to invest in foreign countries like India. Additionally, the bilateral relations between Nepal and India have been complex, with occasional diplomatic tensions, which may have hindered significant investment from Nepal in India.Rate this question:
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- 15.
Which of the following is considered an informal method of getting credit/finance?
- A.
Internet Banking
- B.
Branch visits
- C.
Going to money lenders
- D.
Tele Banking
- E.
All of these
Correct Answer
C. Going to money lendersExplanation
Going to money lenders is considered an informal method of getting credit/finance. Money lenders are individuals or small organizations that provide loans to borrowers without the involvement of traditional financial institutions. This method is often characterized by higher interest rates and less formal documentation compared to formal banking channels. Borrowers may resort to money lenders when they are unable to access credit through traditional means or when they require quick and flexible financing options.Rate this question:
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- 16.
Which amongst the following nations is not a member of the SAARC?
- A.
Bangladesh
- B.
Bhutan
- C.
Nepal
- D.
Maldives
- E.
South Africa
Correct Answer
E. South AfricaExplanation
South Africa is not a member of the SAARC (South Asian Association for Regional Cooperation). SAARC is an organization of eight South Asian countries, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. South Africa is not geographically located in South Asia, which is why it is not a member of SAARC.Rate this question:
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- 17.
Which of the following indexes is developed to measure life expectancy, level of literacy, education, and standard of living of people in a country?
- A.
Inflation
- B.
Sensex
- C.
Human Development Index
- D.
SLR
- E.
None of these
Correct Answer
C. Human Development IndexExplanation
The Human Development Index (HDI) is a comprehensive measure that takes into account various factors such as life expectancy, literacy levels, education, and standard of living to assess the overall development and well-being of people in a country. It provides a more holistic understanding of a nation's progress beyond just economic indicators like inflation or stock market performance. Therefore, the HDI is the appropriate index to measure the mentioned aspects of a country's population.Rate this question:
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- 18.
Which of the following is not a Public Sector Unit/Undertaking/Agency?
- A.
ECGC
- B.
SEBI
- C.
SIDBI
- D.
Axis Bank
- E.
BHEL
Correct Answer
B. SEBIExplanation
SEBI (Securities and Exchange Board of India) is not a Public Sector Unit/Undertaking/Agency. It is a statutory regulatory body established by the Government of India to regulate the securities market and protect the interests of investors. While ECGC (Export Credit Guarantee Corporation), SIDBI (Small Industries Development Bank of India), and BHEL (Bharat Heavy Electricals Limited) are all public sector units/undertakings/agencies, Axis Bank is a private sector bank.Rate this question:
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- 19.
Which of the countries represent the letter ‘C’ in the category known as BRIC countries?
- A.
Canada
- B.
Chile
- C.
Cuba
- D.
Croatia
- E.
China
Correct Answer
E. ChinaExplanation
China represents the letter 'C' in the category known as BRIC countries. BRIC is an acronym for Brazil, Russia, India, and China, which are considered to be the four major emerging economies in the world. China is the country that represents the letter 'C' in this acronym.Rate this question:
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- 20.
Who amongst the following addresses the nation on Independence Day from the ramparts of the Red Fort, Delhi?
- A.
President of India
- B.
UPA Chairperson
- C.
Speaker of the Lok Sabha
- D.
Prime Minister of India
- E.
None of these
Correct Answer
D. Prime Minister of IndiaExplanation
The Prime Minister of India addresses the nation on Independence Day from the ramparts of the Red Fort, Delhi. This is a tradition followed every year, where the Prime Minister delivers a speech to the nation on this significant day. The address is broadcasted live on television and radio, and the Prime Minister discusses various issues, achievements, and future plans for the country. It is an important event that symbolizes the leadership and unity of the nation.Rate this question:
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- 21.
Which of the following awards is given for excellence in the field of sports?
- A.
Kalidas Samman
- B.
Dhyanchand Award
- C.
Shram Vir Award
- D.
Shanti Swarup Bhatnagar Award
- E.
None of these
Correct Answer
B. Dhyanchand AwardExplanation
The Dhyanchand Award is given for excellence in the field of sports. This award is named after Major Dhyan Chand, a legendary Indian hockey player. It is presented by the Ministry of Youth Affairs and Sports, Government of India, to recognize outstanding achievements in sports and contributions to the development of sports in the country. The award is given annually and is considered one of the highest honors in the field of sports in India.Rate this question:
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- 22.
Which of the following does not represent the name of a bank working in India?
- A.
YES
- B.
HDFC
- C.
TATA
- D.
Kotak Mahindra
- E.
ICICI
Correct Answer
C. TATAExplanation
TATA does not represent the name of a bank working in India. While YES, HDFC, Kotak Mahindra, and ICICI are all well-known banks in India, TATA is a conglomerate with diverse business interests, including automobiles, steel, and information technology. It does not have a banking division and therefore does not represent the name of a bank in India.Rate this question:
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- 23.
Twenty-20 matches are played in which of the following?
- A.
Hockey
- B.
Football
- C.
Badminton
- D.
Tennis
- E.
Cricket
Correct Answer
E. CricketExplanation
Twenty-20 matches are a format of cricket where each team plays a single innings with a maximum of 20 overs. This format was introduced to make the game more fast-paced and exciting. Therefore, the correct answer is cricket.Rate this question:
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- 24.
Which of the following deals between India and one major country was put on a hold for some time as India is finding it difficult to implement it?
- A.
123 Pact with USA
- B.
Fifth generation fighter plane deal with Russia
- C.
Heavy Water deal with Iran
- D.
Border talks with China
- E.
None of these
Correct Answer
A. 123 Pact with USAExplanation
The correct answer is "123 Pact with USA." This deal between India and the United States was put on hold for some time because India was finding it difficult to implement it.Rate this question:
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- 25.
Which of the following is a type of tax levied by the Govt. on goods and services?
- A.
SAT
- B.
NET
- C.
PAN
- D.
VAT
- E.
None of these
Correct Answer
D. VATExplanation
Value Added Tax (VAT) is a type of tax levied by the government on goods and services. It is an indirect tax that is imposed at each stage of production and distribution, based on the value added at that particular stage. VAT is commonly used by governments around the world as a means to generate revenue and fund public services. It is applied to the final price of goods and services, making it a consumption tax that is ultimately borne by the end consumer.Rate this question:
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- 26.
As per the news that appeared in some major newspapers India is number two in getting ‘PE’. What is the full form of ‘PE’ as used in the financial world?
- A.
Professional and Ecofriendly
- B.
Profitable Equity
- C.
Profitable and Economical
- D.
Private and Economical
- E.
Private Equity
Correct Answer
E. Private EquityExplanation
Private Equity refers to investments made in privately-held companies that are not listed on a public stock exchange. It involves the purchase of shares or ownership stakes in these companies by institutional investors or high-net-worth individuals. Private equity investors provide capital to these companies with the aim of generating significant returns on their investment over a certain period of time. This form of investment is typically characterized by a longer holding period and a more active involvement in the management and operations of the company compared to public equity investments.Rate this question:
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- 27.
Many times we read in newspapers about ‘Financial Inclusion’. What does it really mean? [Pick up correct statement(s)] 1. Allow the merger and acquisition of banks so that only a few big banks exist and continue to cater to the need of the corporate sector. 2. Expending the network of banks in such a way that people from lower strata of society also get the benefit of services provided by banks. 3. Providing Insurance cover to each and every citizen so that he/she can live a healthy and long life.
- A.
Only 1
- B.
Only 2
- C.
Only 3
- D.
Both 1 and 2
- E.
All 1, 2 and 3
Correct Answer
B. Only 2Explanation
Financial inclusion refers to the efforts made to provide access to financial services to all individuals, especially those from lower income groups. Option 2 correctly states that financial inclusion involves expanding the network of banks in such a way that people from lower strata of society also benefit from the services provided by banks. This means ensuring that individuals have access to basic banking services such as savings accounts, loans, and insurance, regardless of their income level.Rate this question:
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- 28.
Which of the following organizations recently issued some guidelines related to ‘Participatory Notes’ as used in the financial world?
- A.
RBI
- B.
IRDA
- C.
SEBI
- D.
AMFI
- E.
None of these
Correct Answer
C. SEBIExplanation
SEBI recently issued guidelines related to 'Participatory Notes' in the financial world. Participatory Notes are instruments used by foreign investors who are not registered with SEBI to invest in Indian securities. These guidelines aim to regulate and monitor the use of Participatory Notes to ensure transparency and prevent money laundering. SEBI's intervention in this matter demonstrates its commitment to maintaining the integrity and stability of the Indian financial market.Rate this question:
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- 29.
Heavy Water is normally used by which of the following industries?
- A.
Nuclear Power generation plants
- B.
Pharma Industry
- C.
Paper Industry
- D.
Sugar plants
- E.
Tea plantations
Correct Answer
A. Nuclear Power generation plantsExplanation
Heavy water, which is a form of water that contains a higher concentration of the isotope deuterium, is typically used in nuclear power generation plants. It is used as a neutron moderator, helping to slow down fast neutrons and increase the likelihood of nuclear reactions. Heavy water is not commonly used in the other industries listed, such as the pharma industry, paper industry, sugar plants, or tea plantations.Rate this question:
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- 30.
As per news items published in various newspapers, Italy has offered its help in developing ‘SMEs’ in India. What is the full form of ‘SME’?
- A.
Small and Monopolistic Economy
- B.
Speedy and Mechanical
- C.
Small and medium enterprises
- D.
Small and Medium Level Economy
- E.
None of these
Correct Answer
C. Small and medium enterprisesExplanation
The correct answer is "Small and medium enterprises". This is the full form of SME, which refers to small and medium-sized businesses. Italy has offered its assistance in developing these types of businesses in India, as reported in various newspapers.Rate this question:
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Mar 21, 2023Quiz Edited by
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Dec 12, 2010Quiz Created by
AzadSingh