Banking Awareness Quiz - 2

10 Questions | Total Attempts: 437

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Banking Awareness Quiz - 2 - Quiz

A person’s credit worthiness is actually a good way to estimates someone’s worth. If a person has a high credit score they are presumed to have more money than their counterparts. The banking quiz below is designed to test how much you know about the banking sector. Give it a try!


Questions and Answers
  • 1. 
    India has planned to introduce Plastic Notes soon, which country first launched plastic notes ever ?  
    • A. 

      USA

    • B. 

      Australia

    • C. 

      Russia

    • D. 

      Japan

  • 2. 
    As per the news published in major newspapers in India Banks in India need about 12 lakh business correspondents for rural areas. What will be the role of these correspondents ?
    • A. 

      They will help rural people in their day-to-day banking activities

    • B. 

      They will work as a link between banks and the customers

    • C. 

      They will ascertain eligibility of rural people so that relief packages can be provided to them

    • D. 

      They will market insurance products for banks

  • 3. 
    The Reserve Bank of India has asked all the banks to install ‘Note Sorting Machines’ in the branches. How will this help banks and the general public ?
    • A. 

      The machines will check for counterfeit notes and drop these from circulation

    • B. 

      This will help banks to count the notes quickly and accurately

    • C. 

      This will help in sorting out soiled notes so that they are not reissued by the banks

  • 4. 
    At present the trade between India and China is in a state of ‘Payment imbalance’. What does this mean in real terms ?
    • A. 

      China does not import many items from India whereas India imports more from China

    • B. 

      China does not pay India in time and a lot of delay is reported by the exporters

    • C. 

      India wants all payments to be made in US Dollars whereas China pays in its own currency

  • 5. 
    Which of the following terms is not used in Banking and Finance ?
    • A. 

      Bid Price

    • B. 

      Jacksonian Seizure

    • C. 

      Call Option

    • D. 

      Blue chip

  • 6. 
    Which of the following terms is not used in Economics ?
    • A. 

      Exogenous

    • B. 

      Depreciation

    • C. 

      Deep Market

    • D. 

      Zero Sum Game

  • 7. 
    Nowadays we frequently read news items about ‘Derivatives’ as used in the world of finance and money market. Which of the following statement correctly describes what a derivative is and how it affects money/finance markets ?
    • A. 

      Derivatives enable individuals and companies to insure themselves against financial risk

    • B. 

      Derivatives are like fixed deposits in a bank and are the safest way to invest one’s idle money lying in a bank

    • C. 

      Derivatives are the financial instruments which were used in India even during the British Raj

  • 8. 
    Constitutionally, which one of the following can levy Service Tax ?
    • A. 

      Union Govt. only

    • B. 

      State Govt. only

    • C. 

      Union Territory Govt. only

    • D. 

      All of these

  • 9. 
    Which one of the following is implication of large inflow of foreign exchange into the country ?
    • A. 

      It makes monetary management difficult for RBI

    • B. 

      It creates money supply, asset bubbles and inflation

    • C. 

      It weakens the competitiveness of Indian exports

  • 10. 
    Which of the following terms is not used in the world of economics/finance ?
    • A. 

      Sinking Fund

    • B. 

      Third World

    • C. 

      Open Door Policy

    • D. 

      Privilege Motion

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