Knowledge Enhancement Test- Re 1
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What are the documents that a customer need to submit for MHP Claim, if he/she has lost policy papers in any natural calamity?
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Duly completed claim form signed by you or your legal representative
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First Information Report (FIR)
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News Paper report clipping on the natural calamity
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All of the above
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The 'Knowledge Enhancement Test- RE 1' assesses key competencies in handling financial and insurance-related scenarios, particularly in claim management, loan settlements, and transaction timings. It is designed for professionals seeking to enhance their understanding in financial operational standards.
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- 2.
Which MHP claims are NOT APPROVED by the Insurance Company?
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War or related perils
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Loss of cash, bullion, antique works of art, mobiles, laptops, Tablets etc.
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Willful destruction of property
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House being unoccupied for more than 30 days
Correct Answer
A. Willful destruction of propertyExplanation
The Insurance Company does not approve claims for willful destruction of property. This means that if a policyholder intentionally damages or destroys their own property, they will not be eligible to receive any compensation or coverage for the damages.Rate this question:
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- 3.
Discretionary powers of Branch Head for settlement of loans of a deceased borrower is ........
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Rs. 10000 to Rs. 1 Lac
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Rs. 1500 to Rs. 1 Lac
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Rs. 3 Lacs to Rs. 5 Lacs
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Rs. 1 Lac to Rs. 3 Lacs
Correct Answer
A. Rs. 1500 to Rs. 1 LacExplanation
The discretionary powers of the Branch Head for settlement of loans of a deceased borrower range from Rs. 1500 to Rs. 1 Lac.Rate this question:
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- 4.
Daily Wages to Temporary Office is accounted in ……………….. A/c head
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Staff Welfare
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Salary A/c
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Business
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Establishment A/c
Correct Answer
A. Establishment A/cExplanation
Daily wages to temporary office staff is accounted in the Establishment A/c. This is because the Establishment A/c is used to record all expenses related to the establishment of the office, including wages and salaries of temporary staff. Staff welfare is a separate expense category and would not be appropriate for recording daily wages. Salary A/c is typically used for recording the salaries of permanent employees. Business is too broad of a category and does not specifically account for the expenses of the office establishment.Rate this question:
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- 5.
Sanctioning power of GL token lost release cases between loan amounts ............. to .............is vested with RO of the concerned region.
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25,000/- to 1,00,000/-
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5,00,000/- to 25,00,000/-
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1,500 to 5,00,000
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All such sanctioning powers are with Credit Dept., CO(N)
Correct Answer
A. 25,000/- to 1,00,000/-Explanation
The Regional Officer (RO) of the concerned region has the authority to approve and release loan cases within the range of 25,000/- to 1,00,000/-.Rate this question:
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- 6.
What is the cut-off time for doing RTGS?
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4:30 PM
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3:50 PM
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4:00 PM
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5:00 PM
Correct Answer
A. 3:50 PMExplanation
The correct answer is 3:50 PM. RTGS stands for Real Time Gross Settlement, which is a banking service used for transferring large amounts of money between banks. The cut-off time refers to the latest time at which a transaction can be initiated for it to be processed on the same day. In this case, the cut-off time for doing RTGS is 3:50 PM, meaning that any transactions initiated after this time will be processed on the next working day.Rate this question:
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- 7.
In how many days, the purchased Foreign Currency should be surrendered by Franchisee Branches to AD-II Forex Branch?
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5 Days
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10 Days
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7 Days
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8 Days
Correct Answer
A. 7 DaysExplanation
Franchisee Branches should surrender the purchased Foreign Currency to AD-II Forex Branch within 7 days.Rate this question:
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- 8.
What is the Maximum limit for doing NEFT?
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1 lac
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1.99 lacs
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10 lacs
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No limit
Correct Answer
A. No limitExplanation
The maximum limit for doing NEFT is not restricted, meaning there is no limit on the amount that can be transferred through NEFT. NEFT allows for the transfer of large sums of money without any upper cap, making it suitable for high-value transactions. This flexibility allows individuals and businesses to transfer any amount they require through NEFT, making it a convenient and versatile option for electronic fund transfers.Rate this question:
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- 9.
It is mandatory that a customer must have a local ID proof for receiving Money from abroad under IMT ?
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True
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False
Correct Answer
A. TrueExplanation
It is mandatory for a customer to have a local ID proof for receiving money from abroad under IMT. This requirement ensures that the recipient's identity is verified and helps prevent money laundering and fraudulent activities. The local ID proof serves as a means of identification and establishes the recipient's eligibility to receive the funds. Without a valid local ID proof, the customer may not be able to receive the money transferred from abroad.Rate this question:
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- 10.
What is the Wt. of normal Kada and Bangle as per norms? (As per Circular No. CO/ 79/15 (File 1 A))
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45 gms and 30 gms
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40 gms and 15 gms
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40 gms and 20 gms
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40 gms and 30 gms
Correct Answer
A. 40 gms and 15 gms -
- 11.
The service charge of Muthoot Money is ____________
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2% or Rs. 50 whichever is higher
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1.50% or Rs. 50 whichever is higher
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2.50% or Rs. 50 whichever is higher
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0.05% or Rs. 50 whichever is higher
Correct Answer
A. 1.50% or Rs. 50 whichever is higherExplanation
The correct answer is 1.50% or Rs. 50 whichever is higher. This means that Muthoot Money charges a service fee of either 1.50% of the transaction amount or a minimum of Rs. 50, whichever amount is higher. So, if the transaction amount is Rs. 1000, the service charge would be Rs. 50 (since it is higher than 1.50% of Rs. 1000 which is Rs. 15). If the transaction amount is Rs. 5000, the service charge would be Rs. 75 (since 1.50% of Rs. 5000 is Rs. 75, which is higher than the minimum charge of Rs. 50).Rate this question:
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- 12.
How many calls in a week has to be made by JRE/RE/SRE to active or inactive customers mapped under their COP as per IOM No. CO/OPN/45/17 ?
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30
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10
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20
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50
Correct Answer
A. 20Explanation
Based on IOM No. CO/OPN/45/17, JRE/RE/SRE need to make 20 calls in a week to active or inactive customers mapped under their COP.Rate this question:
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- 13.
After registration for “iwill” either Online(www.Muthootiwill.com) or offline(at our branch), customer has time frame of ________________ to fill in all the details and generate the “will”.
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30 days
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7 days
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60 days
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10 days
Correct Answer
A. 60 daysExplanation
After registering for "iwill" either online or offline, customers have a time frame of 60 days to fill in all the necessary details and generate their will. This allows customers ample time to carefully consider and include all the necessary information in their will without feeling rushed. It also provides flexibility for customers who may need more time to gather the required information or seek legal advice before finalizing their will.Rate this question:
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- 14.
_________ is the charges for 4th Notice issued to customer having GL outstanding for more than 11 months.
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Rs. 50
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Rs. 23
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Rs. 15
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Rs.7
Correct Answer
A. Rs. 50Explanation
The charges for the 4th notice issued to a customer with a GL (general ledger) outstanding for more than 11 months are Rs. 50.Rate this question:
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- 15.
Gold Loan Transferred using IMT (Instant Money Transfer) can be withdrawn from which bank ATMs
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Axis Bank & Union Bank of India
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HDFC Bank & ICICI Bank
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Axis Bank & Bank of India
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SBI & Union Bank of India
Correct Answer
A. Axis Bank & Bank of IndiaExplanation
Gold Loan transferred using IMT can be withdrawn from Axis Bank and Bank of India ATMs.Rate this question:
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- 16.
As per IOM No. CO/MT/31/17 PIN no of XOOM transaction is ______ (numbers) starting with "X".
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10
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7
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16
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12
Correct Answer
A. 10Explanation
The correct answer is 10. According to the given information, the PIN number of XOOM transaction starts with the letter "X" and is followed by a number. Among the options provided, the only number that fits this criteria is 10.Rate this question:
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- 17.
If there is any change in the address, mentioned as per ‘proof of address’, As per revised KYC norms, a fresh address proof shall be obtained within a period of ……………..months?
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1 month
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3 months
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6 months
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2 months
Correct Answer
A. 3 monthsExplanation
As per the revised KYC norms, if there is any change in the address mentioned as proof of address, a fresh address proof shall be obtained within a period of 3 months. This means that if there is any change in the address provided by the customer, the organization must obtain a new address proof within 3 months of the change. This ensures that the customer's updated address information is recorded accurately and in compliance with the KYC regulations.Rate this question:
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- 18.
As per IOM no. CO/C&R/28/17, Field Verification should be done with in ………….days and on GL above ……..lacs.
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2 days & 5 Lacs
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5 days & 10 lacs
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7 days & 5 lacs
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2 days & 10 lacs
Correct Answer
A. 2 days & 5 LacsExplanation
According to IOM no. CO/C&R/28/17, Field Verification should be done within 2 days and on GL above 5 lacs.Rate this question:
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- 19.
As per New Time and motion study(IOM/CO/OPN/27/17), Each Branch Staff have been allotted ………..minutes per day for OFP works.
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60
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45
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30
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120
Correct Answer
A. 30Explanation
According to the New Time and motion study (IOM/CO/OPN/27/17), each branch staff is allocated 30 minutes per day for OFP works.Rate this question:
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- 20.
From 1/3/17 to 31/3/17, charges for bulk PAN application is Rs.__________ and cash prize for staff if Rs. ____________
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265 & 500
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200 & 500
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265 & 1000
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150 & 1000
Correct Answer
A. 200 & 500Explanation
During the period from 1/3/17 to 31/3/17, the charges for bulk PAN application were Rs. 200 and the cash prize for staff was Rs. 500.Rate this question:
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- 21.
_________ is the sum assured under basic plan of MHP (Muthoot Home Protector) in association with Liberty Videocon General Insurance Company.
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500000
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650000
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430000
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870000
Correct Answer
A. 430000Explanation
The sum assured under the basic plan of MHP (Muthoot Home Protector) in association with Liberty Videocon General Insurance Company is 430000.Rate this question:
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- 22.
Under Indo-Nepal Money Transfer, amount payable at Nepal is fixed at ___________times of the INR remitted from India.
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1.5
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1.6
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2
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2.5
Correct Answer
A. 1.6Explanation
Under the Indo-Nepal Money Transfer, the amount payable at Nepal is fixed at 1.6 times of the INR remitted from India. This means that for every 1 unit of INR sent from India, the recipient in Nepal will receive 1.6 units of the local currency.Rate this question:
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- 23.
“Sabka Loan Mahotsav” is a digital Campaign for North, East & West India starting from 2nd March 2017 onwards (IOM No. CO/MKT/50/17)
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True
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False
Correct Answer
A. FalseExplanation
The statement is false because "Sabka Loan Mahotsav" is a digital campaign for North, East, and West India starting from 2nd March 2017 onwards.Rate this question:
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- 24.
Purpose of Mission 1000 Crores launched w.e.f. 1st March 2017 as per IOM No. Dir/03/2017
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1000 CR Net Gold Loan Growth in March 17
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1000 CR Advances in March 17
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1000 CR Profit After Tax 2016-17
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None of the above
Correct Answer
A. 1000 CR Net Gold Loan Growth in March 17Explanation
The correct answer is "1000 CR Net Gold Loan Growth in March 17". This is because the given mission, "Mission 1000 Crores", was launched with the objective of achieving a net gold loan growth of 1000 crores in the month of March 2017. The other options mentioned, such as 1000 CR Advances in March 17 and 1000 CR Profit After Tax 2016-17, are not directly related to the purpose of the mission.Rate this question:
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- 25.
What is maximum withdrawal amount from Muthoot DCB Visa Card in a day from our branches?
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Rs.10000
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Rs.5000
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Rs.20000
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As per RBI Guidelines
Correct Answer
A. Rs.5000Explanation
The maximum withdrawal amount from the Muthoot DCB Visa Card in a day from their branches is Rs.5000.Rate this question:
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- 26.
Dual mode of disbursement is available on gold loan less than 1 lac
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True
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False
Correct Answer
A. TrueExplanation
The statement is stating that a dual mode of disbursement is available on gold loans that are less than 1 lac. This means that borrowers have the option to receive the loan amount in two different modes, such as cash and bank transfer, or any other combination. This statement is true as it confirms the availability of a dual mode of disbursement for gold loans that are less than 1 lac.Rate this question:
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- 27.
Nitric Acid of ________ concentration being used for Gold Checking.
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60%
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70%
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75%
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50%
Correct Answer
A. 70%Explanation
Nitric acid with a concentration of 70% is used for gold checking. This concentration is commonly used because it provides an effective and efficient way to test the authenticity of gold. The high concentration of nitric acid allows for a more accurate reaction with gold, helping to determine its purity. Additionally, a 70% concentration strikes a balance between being strong enough to yield reliable results and not being too corrosive or dangerous to handle.Rate this question:
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- 28.
Mention the Broken period interest payable for bond after maturity but with in 60 months period with reference to Circular No. CO/40/2016 (File 1A).
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6%
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8%
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8.5%
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Nil
Correct Answer
A. NilExplanation
The correct answer is Nil. According to Circular No. CO/40/2016 (File 1A), there is no interest payable for the bond after maturity but within a 60-month period.Rate this question:
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- 29.
One of the below mentioned following mentioned report is not compulsory while submitting quarterly certificate by branches
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HNI visit Report
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Counterfeit Currency Report
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Auction Notice POD
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Packet Counting Report
Correct Answer
A. HNI visit ReportExplanation
The HNI visit report is not compulsory while submitting the quarterly certificate by branches. This report is likely related to visits made to High Net Worth Individuals (HNIs) and may not be directly relevant to the quarterly certification process. The other reports mentioned, such as the counterfeit currency report, auction notice POD, and packet counting report, may be more essential in ensuring the accuracy and compliance of the branch's operations.Rate this question:
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- 30.
How many money transfer transactions an NRI customer can receive in a Financial Year in India?
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24
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12
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30
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USD250000 or equivalent
Correct Answer
A. 30Explanation
An NRI customer can receive up to 30 money transfer transactions in a Financial Year in India. This means that they can receive money from various sources or individuals up to 30 times within a year. This limit is set to regulate and monitor the flow of funds in the country and ensure compliance with financial regulations.Rate this question:
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Quiz Review Timeline (Updated): Mar 21, 2023 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 21, 2023Quiz Edited by
ProProfs Editorial Team -
Mar 10, 2017Quiz Created by
Mftrainingkol
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