Knowledge Enhancement Test- Sres / Ams
SREs / AMs
Questions and Answers
- 1.
What are the documents that a customer need to submit for MHP Claim, if he/she has lost policy papers in any natural calamity
- A.
Duly completed claim form signed by you or your legal representative
- B.
First Information Report (FIR)
- C.
Fire Brigade Report
- D.
News Paper report clipping on the natural calamity
- E.
Any other document that supports the occurrence of the event
- F.
All of the above
Correct Answer
F. All of the aboveExplanation
The customer needs to submit a duly completed claim form signed by them or their legal representative. They also need to provide a First Information Report (FIR) and a Fire Brigade Report to support their claim. Additionally, a newspaper report clipping on the natural calamity and any other document that supports the occurrence of the event should be submitted. Therefore, all of the above documents are required for the MHP Claim if the customer has lost their policy papers in any natural calamity.Rate this question:
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- 2.
Which MHP claims are NOT APPROVED by the Insurance Company
- A.
Willful destruction of property
- B.
War or related perils
- C.
Loss of cash, bullion, antique works of art, mobiles, laptops, Tablets etc.
- D.
Seepage
- E.
House being unoccupied for more than 30 days
- F.
All the claims are approved
- G.
None of the above
Correct Answer
A. Willful destruction of propertyExplanation
The correct answer is "Willful destruction of property." This means that the insurance company does not approve claims related to intentionally damaging or destroying property.Rate this question:
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- 3.
Discretionary powers of Branch Head for settlement of loans of a deceased borrower is ........
- A.
Rs. 1500 to Rs. 1 Lac
- B.
Rs. 10000 to Rs. 1 Lac
- C.
Rs. 1 Lac to Rs. 3 Lacs
- D.
Rs. 3 Lacs to Rs. 5 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 are in the range of 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
- A.
Staff Welfare
- B.
Salary A/c
- C.
Business
- D.
Establishment A/c
Correct Answer
D. Establishment A/cExplanation
Daily wages to temporary office staff is accounted in the Establishment A/c. This account is used to record all expenses related to the establishment or running of the business, including wages and salaries. Staff Welfare is not the correct answer as it typically refers to expenses related to employee benefits and welfare. Salary A/c is also not the correct answer as it is specifically used for recording regular salaries of permanent employees. Business is too broad of a category and does not specifically account for daily wages.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
- A.
25,000/- to 1,00,000/-
- B.
5,00,000/- to 25,00,000/-
- C.
1,500 to 5,00,000
- D.
All such sanctioning powers are with Credit Dept., CO(N)
Correct Answer
A. 25,000/- to 1,00,000/-Explanation
The Regional Office (RO) of the concerned region has the authority to release cases between loan amounts of 25,000/- to 1,00,000/-.Rate this question:
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- 6.
What is the cut-off time for doing RTGS
- A.
3:50 PM
- B.
4:30 PM
- C.
4:00 PM
- D.
5:00 PM
Correct Answer
A. 3:50 PMExplanation
The correct answer is 3:50 PM. This is the cut-off time for doing RTGS (Real Time Gross Settlement). RTGS is a system used for transferring money from one bank to another in real-time. The cut-off time refers to the latest time by which a transaction can be initiated and still be processed on the same day. Therefore, any RTGS transaction initiated after 3:50 PM would not be processed until the next working day.Rate this question:
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- 7.
What is the Maximum limit for doing NEFT
- A.
1 lac
- B.
1.99 lacs
- C.
10 lacs
- D.
No Limit
Correct Answer
D. No LimitExplanation
The correct answer is "No Limit" because NEFT (National Electronic Funds Transfer) is a system that allows individuals and businesses to transfer funds electronically between banks in India. Unlike other payment systems like RTGS (Real Time Gross Settlement), NEFT does not have any maximum limit for transferring funds. Therefore, individuals and businesses can transfer any amount of money through NEFT without any restrictions or limitations.Rate this question:
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- 8.
In how many days, the purchased Foreign Currency should be surrendered by Franchisee Branches to AD-II Forex Branch
- A.
8 Days
- B.
10 Days
- C.
7 Days
- D.
5 Days
Correct Answer
C. 7 DaysExplanation
The purchased Foreign Currency should be surrendered by Franchisee Branches to AD-II Forex Branch within 7 days.Rate this question:
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- 9.
What is the Wt. of normal Kada and Bangle as per norms? (As per Circular No. CO/ 79/15 (File 1 A))
- A.
45 gms and 30 gms
- B.
40 gms and 15 gms
- C.
40 gms and 20 gms
- D.
40 gms and 30 gms
Correct Answer
B. 40 gms and 15 gms -
- 10.
The service charge of Muthoot Money is __________
- A.
1.50% or Rs. 50 whichever is higher
- B.
2% or Rs. 50 whichever is higher
- C.
2.50% or Rs. 50 whichever is higher
- D.
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 is higher. For example, if the transaction amount is Rs. 1000, the service charge would be Rs. 50 (since 1.50% of Rs. 1000 is Rs. 15, which is lower than the minimum charge of Rs. 50). However, if the transaction amount is Rs. 5000, the service charge would be 1.50% of Rs. 5000, which is Rs. 75 (since Rs. 75 is higher than the minimum charge of Rs. 50).Rate this question:
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- 11.
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
- A.
30
- B.
20
- C.
10
- D.
50
Correct Answer
B. 20Explanation
According to IOM No. CO/OPN/45/17, JRE/RE/SRE should make a total of 20 calls in a week to active or inactive customers mapped under their COP.Rate this question:
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- 12.
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”
- A.
30 Days
- B.
20 Days
- C.
60 Days
- D.
7 days
Correct Answer
C. 60 DaysExplanation
After registering for "iwill" either online or offline, the customer is given a time frame of 60 days to fill in all the necessary details and generate the "will". This allows the customer ample time to carefully consider and provide all the required information for the will-making process. It also ensures that the customer has enough time to seek legal advice or make any necessary amendments before finalizing the will.Rate this question:
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- 13.
_________ is the charges for 4th Notice issued to customer having GL outstanding for more than 11 months
- A.
Rs.50
- B.
Rs.23
- C.
Rs.15
- D.
Rs.7
Correct Answer
A. Rs.50Explanation
The correct answer is Rs.50. This suggests that the charges for the 4th notice issued to a customer with a GL (General Ledger) outstanding for more than 11 months is Rs.50. This implies that there is a penalty or fee associated with having an outstanding balance for an extended period of time, and the 4th notice is the point at which this fee is applied.Rate this question:
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- 14.
Gold Loan Transferred using IMT (Instant Money Transfer) can be withdrawn from which bank ATMs
- A.
Axis Bank & Union Bank of India
- B.
HDFC Bank & ICICI Bank
- C.
Axis Bank & Bank of India
- D.
SBI & Union Bank of India
Correct Answer
C. Axis Bank & Bank of IndiaExplanation
The gold loan transferred using IMT can be withdrawn from Axis Bank and Bank of India ATMs.Rate this question:
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- 15.
As per IOM No. CO/MT/31/17 PIN no of xoom transaction is ______ (numbers) starting with "X"
- A.
10
- B.
7
- C.
16
- D.
12
Correct Answer
A. 10Explanation
The correct answer is 10. This is because the question states that the PIN number of the xoom transaction starts with "X", and out of the given options, only 10 starts with "X".Rate this question:
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- 16.
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
- A.
3 Months
- B.
1 Months
- C.
6 Months
- D.
2 Months
Correct Answer
A. 3 MonthsExplanation
As per the revised KYC norms, if there is any change in the address mentioned as per the proof of address, a fresh address proof must be obtained within a period of 3 months. This means that if there is any update or change in the address provided, the individual or organization must submit a new address proof document within 3 months from the date of the change. This is to ensure that the address information is accurate and up to date for compliance and verification purposes.Rate this question:
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- 17.
As per IOM no. CO/C&R/28/17, Field Verification should be done with in ………….days and on GL above ……..lacs
- A.
2 days & 5 Lacs
- B.
5 days & 10 lacs
- C.
7 days & 5 lacs
- D.
D. 2 days & 10 lacs
Correct Answer
A. 2 days & 5 LacsExplanation
As per IOM no. CO/C&R/28/17, Field Verification should be done within 2 days and on GL above 5 lacs. This means that according to the mentioned IOM, any field verification process should be completed within a maximum of 2 days, and it should only be conducted for General Ledger (GL) entries that are above 5 lacs.Rate this question:
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- 18.
As per New Time and motion study(IOM/CO/OPN/27/17), Each Branch Staff have been allotted ………..minutes per day for OFP works
- A.
60
- B.
30
- C.
45
- D.
120
Correct Answer
B. 30Explanation
According to the New Time and motion study, each branch staff is allotted 30 minutes per day for OFP works.Rate this question:
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- 19.
From 1/3/17 to 31/3/17, charges for bulk PAN application is Rs.__________ and cash prize for staff if Rs. ____________
- A.
200 & 500
- B.
265 & 500
- C.
265 & 1000
- D.
150 & 1000
Correct Answer
D. 150 & 1000Explanation
The given answer states that the charges for bulk PAN application from 1/3/17 to 31/3/17 is Rs. 150 and the cash prize for staff is Rs. 1000.Rate this question:
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- 20.
_________ is the sum assured under basic plan of MHP (Muthoot Home Protector) in association with Liberty Videocon General Insurance Company
- A.
500000
- B.
650000
- C.
430000
- D.
870000
Correct Answer
C. 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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- 21.
Under Indo-Nepal Money Transfer, amount payable at Nepal is fixed at ___________times of the INR remitted from India
- A.
1.5
- B.
1.6
- C.
2
- D.
2.5
Correct Answer
B. 1.6Explanation
The amount payable at Nepal under the Indo-Nepal Money Transfer is fixed at 1.6 times of the INR remitted from India. This means that for every 1 unit of INR remitted, the recipient in Nepal will receive 1.6 units of the local currency.Rate this question:
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- 22.
“Sabka Loan Mahotsav” is a digital Campaign for North, East & West India starting from 2nd March 2017 onwards (IOM No. CO/MKT/50/17)
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The given statement states that "Sabka Loan Mahotsav" is a digital campaign for North, East, and West India starting from 2nd March 2017 onwards. However, the correct answer is false because the statement is not complete and does not provide any information about what "Sabka Loan Mahotsav" actually is or what it entails. Without further information, it is not possible to determine whether the statement is true or false.Rate this question:
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- 23.
Purpose of Mission 1000 Crores launched w.e.f. 1st March 2017 as per IOM No. Dir/03/2017
- A.
1000 CR Net Gold Loan Growth in March 17
- B.
1000 CR Advances in March 17
- C.
1000 CR Profit After Tax 2016-17
- D.
None of the above
Correct Answer
A. 1000 CR Net Gold Loan Growth in March 17Explanation
The purpose of the Mission 1000 Crores, launched on 1st March 2017, is to achieve a net gold loan growth of 1000 crores in March 2017. This means that the objective of the mission is to increase the amount of gold loans given out by 1000 crores during that specific month. This initiative aims to drive growth and profitability for the organization by focusing on increasing the gold loan portfolio.Rate this question:
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- 24.
What is maximum withdrawal amount from Muthoot DCB Visa Card in a day from our branches
- A.
Rs.100000
- B.
Rs.5000
- C.
Rs.20000
- D.
As per RBI guidelines
Correct Answer
B. Rs.5000Explanation
The correct answer is Rs.5000. This is the maximum withdrawal amount from Muthoot DCB Visa Card in a day from their branches.Rate this question:
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- 25.
Dual mode of disbursement available on gold loan less than 1 lac
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because gold loans with a value less than 1 lac offer a dual mode of disbursement. This means that borrowers have the option to receive the loan amount either in the form of cash or credited directly to their bank account. This flexibility allows borrowers to choose the mode of disbursement that is most convenient for them.Rate this question:
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- 26.
Nitric Acid of ________ concentration being used for Gold Checking
- A.
70%
- B.
60%
- C.
75%
- D.
50%
Correct Answer
A. 70%Explanation
Nitric acid with a concentration of 70% is commonly used for gold checking. This concentration is effective in testing the authenticity of gold as it can dissolve other metals that may be mixed with gold, leaving only the gold behind. Higher concentrations may be too strong and could damage the gold, while lower concentrations may not be strong enough to dissolve impurities. Therefore, a 70% concentration is ideal for this purpose.Rate this question:
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- 27.
Mention the Broken period interest payable for bond after maturity but with in 60 months period Circular No. CO/40/2016 (File 1A)
- A.
6%
- B.
8%
- C.
8.5%
- D.
NIL
Correct Answer
D. NILExplanation
The given answer, NIL, suggests that there is no interest payable for the bond after maturity but within the 60 months period mentioned in Circular No. CO/40/2016 (File 1A). This means that the bondholder will not receive any additional interest payments during this period.Rate this question:
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- 28.
One of the below mentioned following mentioned report is not compulsory while submitting quarterly certificate by branches
- A.
HNI visit Report
- B.
Counterfeit Currency Report
- C.
Auction Notice POD
- D.
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 necessary for the quarterly certification process. The other reports mentioned, such as the counterfeit currency report, auction notice POD, and packet counting report, may contain important information relevant to the branch's operations and are therefore required for submission.Rate this question:
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- 29.
How many money transfer transactions an NRI customer can receive in a Financial Year in India
- A.
30
- B.
12
- C.
24
- D.
USD 250000 or Equivalent
Correct Answer
A. 30Explanation
An NRI customer can receive a maximum of 30 money transfer transactions in a Financial Year in India.Rate this question:
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- 30.
What is the Cash retention Limit of branches with GL Outstanding of 3-10 Crs
- A.
Rs.500000
- B.
Rs.150000
- C.
Rs.200000
- D.
Rs.300000
Correct Answer
A. Rs.500000Explanation
The cash retention limit for branches with a GL outstanding of 3-10 Crs is Rs.500000. This means that these branches are allowed to retain a maximum cash amount of Rs.500000.Rate this question:
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- 31.
Is it mandatory that a customer must have a local ID proof for receiving Money from abroad under IMT
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
It is not mandatory for a customer to have a local ID proof for receiving money from abroad under IMT. While local ID proof may be required for certain transactions or in specific countries, it is not a universal requirement for receiving money from abroad. Other forms of identification or documentation may be accepted depending on the regulations and policies of the sending and receiving countries.Rate this question:
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