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What is the full form of LIBOR?

1. London Inter Bank Offered Rate
2. Local Indian Bank Offered Rate
3. London-India Bureau Of Regulations
4. Liberal International Bank Official Ratio

✅ Correct Answer: 3

Which one of the following is called the frequent changes made by Banks in their product profile?

1. Product Control
2. Product Marketing
3. Product Enrichment
4. Product Enhancement

✅ Correct Answer: 2

Which organization provides guarantee to the exporters?

1. Exim Bank
2. Reserve Bank of India
3. Registrar of companies
4. Export Credit Guarantee Corporation

✅ Correct Answer: 4

Under whose chairmanship did RBI constitute a Working Group for making balance of payments manual

1. Anand Sinha
2. Deepak Mohanty
3. Harun Rashid Khan
4. Kamalesh Chandra Chakrabarty

✅ Correct Answer: 2

What does RTGS enable?

1. Immediate transfer of money from customer of one bank to customer of RBI
2. Immediate transfer of money from customer of one bank to customer of another bank
3. Immediate transfer of money from customer of one bank to customer of another country
4. Immediate transfer of money from customer of one bank to customer of another branch within the same bank

✅ Correct Answer: 2

Which of the following permit cheque operation?

1. Savings bank accounts and cash accounts
2. Savings bank accounts and current accounts
3. Current accounts and fixed deposit accounts
4. Savings bank accounts and fixed deposit accounts

✅ Correct Answer: 2

What happens if a crossed cheque is presented for payment?

1. It cannot be paid at all
2. It can be paid only through a banker
3. It can be paid across the counter in another bank
4. None of the above

✅ Correct Answer: 2

Under which sector will banking sector fall?

1. Service sector
2. Industrial sector
3. Agricultural sector
4. None of the above

✅ Correct Answer: 1

Which is known as the arrangement when more than one banks allow credit facilities to one party in cordination with each other?

1. Subvention
2. Moratorium
3. Consortium
4. Amortization

✅ Correct Answer: 3

What is an Indian Depository Receipt?

1. A deposit account with a Public Sector Bank
2. A depository account with any of Depositories in India
3. An instrument in the form of deposit receipt issued by Indian depositories
4. An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company

✅ Correct Answer: 4

What is Call Money?

1. Money borrowed for more than one day but up to 3 days
2. Money borrowed for more than one day but up to 7 days
3. Money borrowed for more than one day but up to 14 days
4. Money borrowed or lent for a day or over night

✅ Correct Answer: 4

What is the most powerful tool used by the Reserve Bank of India to control inflation?

1. Raise interest rates
2. Reduce interest rates
3. Raise current supply
4. Reduce current supply

✅ Correct Answer: 1

What does crossing of cheques make them?

1. Remain the same
2. Invalid document
3. Ineligible to get cash across the bank counter
4. Ineligible to endorse to a person other than the payee

✅ Correct Answer: 4

What happens when a bank dishonours a cheque?

1. It is called nullifying of the cheque
2. It is called settlement of the cheque
3. It is called withdrawing of the cheque
4. It is called return of the cheque unpaid

✅ Correct Answer: 4

What are NEFT and RTGS about?

1. Various deposit products
2. Cheque truncation process
3. Electronic fund transfer from bank to bank
4. Electronic payment products within a bank

✅ Correct Answer: 3

With whom does the ownership of Public sector banks rest?

1. Wholly with Government of India
2. Jointly with Government of India and State Bank of India
3. Jointly with Government of India and Reserve Bank of India
4. Jointly with Government of India and share-holders from the public

✅ Correct Answer: 4

Which of the following is not the part of organized sector of India Money Market?

1. Chit Funds
2. Mutual Funds
3. Reserve Bank of India
4. Non-Banking Financial Companies

✅ Correct Answer: 1

What does RBI regulate through Open Market Operation Transactions?

1. Inflation
2. Liquidity in economy
3. Borrowing powers of the banks
4. Flow of Foreign Direct Investment

✅ Correct Answer: 2

What is the full form of EFT?

1. Efficient Funds Transfer
2. Effective Funds Transfer
3. Electronic Funds Transfer
4. Electronic Foreign Transfer

✅ Correct Answer: 3

What happens if a cheque is post dated?

1. Bank on whom it is drawn has to honour the cheque before the date of the cheque
2. Bank on whom it is drawn will not honour the cheque before the date of the cheque
3. Bank on whom it is drawn has to refer to RBI to honour the cheque before the date of the cheque
4. Bank on whom it is drawn has to refer to court to honour the cheque before the date of the cheque

✅ Correct Answer: 2

Which is the instrument used by RBI under general credit control?

1. SLR
2. CRR
3. Bank Rate
4. Exchange Control

✅ Correct Answer: 3

When was the first Land Mortgage Bank established?

1. 1915
2. 1920
3. 1925
4. 1930

✅ Correct Answer: 2

What is the cost of credit expressed as a percentage on a yearly basis called?

1. WPI
2. APY
3. APR
4. None of these

✅ Correct Answer: 3

What is the percentage rate reflecting the total amount of interest paid on a deposit account called?

1. WPI
2. APY
3. APR
4. None of these

✅ Correct Answer: 2

In which type of banking, electronic financial transactions are done?

1. E-Banking
2. M-Banking
3. Internet Banking
4. Universal Banking

✅ Correct Answer: 1

Which one of the following helps the consumers protect their credit identities and recover from identity theft?

1. FOIA
2. FCRA
3. FACTA
4. FDCPA

✅ Correct Answer: 3

Which one of the following gives consumers the right to see their credit records and correct mistakes?

1. FOIA
2. FCRA
3. FACTA
4. FDCPA

✅ Correct Answer: 2

Which of the following is the amount of Funds borrowed by the government to meet the expenditures?

1. Fiscal policy
2. Fiscal Deficit
3. Public finance
4. Current account

✅ Correct Answer: 2

Which one of the following is a set of United State statutes added as Title VIII of the Consumer Credit Protection Act?

1. FOIA
2. FCRA
3. FACTA
4. FDCPA

✅ Correct Answer: 4

Which one of the following is open for public inspection and copying?

1. FOIA
2. FCRA
3. FACTA
4. FDCPA

✅ Correct Answer: 1

Which one of the following belongs to the time when a company makes the first offering of the shares to the public?

1. IPO
2. CSO
3. WTO
4. REPO

✅ Correct Answer: 1

Which one of the following is the ratio of the loan principal to the appraised value?

1. Mortgage Loan
2. Loan-to-Value Ratio
3. Statutory Liquidity Ratio
4. Combined Loan To Value: (CLTV) ratio

✅ Correct Answer: 2

Which one of the following pools money from various investors in order to purchase securities?

1. Money fund
2. Mutual fund
3. Pension fund
4. Fund derivative

✅ Correct Answer: 2

Which one of the following is the Federal regulatory agency that charters and supervises Federal credit unions?

1. ARC
2. CAG
3. NCUA
4. AIRCSC

✅ Correct Answer: 3

Which one of the following is used when describing the monthly charges on a mortgage?

1. FII
2. BIS
3. CPI
4. PITI

✅ Correct Answer: 4

Which one of the following allow bank customers to effect transfers of funds from their deposit accounts and other financial transactions at retail establishments?

1. IBS
2. CBS
3. DBS
4. POS

✅ Correct Answer: 4

Which is the policy that offers multiple coverage combinations for both buildings and contents?

1. WPI
2. PRP
3. REPO
4. UNDP

✅ Correct Answer: 2

Which one of the following requires lenders to provide "good faith" estimates of settlement costs?

1. FOIA
2. TILA
3. NCUA
4. RESPA

✅ Correct Answer: 4

Which one of the following is the rate at which the RBI lends money to commercial banks in the event of any shortfall of funds?

1. Bank Rate
2. Repo Rate
3. Annual Percentage Rate
4. Benchmark Prime Lending Rate

✅ Correct Answer: 2

Which one of the following requires lenders to provide standardized information?

1. TILA
2. UCC
3. NCUA
4. RESPA

✅ Correct Answer: 1

When financial institutions and banks undertake activities related to banking like investment, issue of debit and credit card etc then it is known as _____________________.

1. Virtual Banking
2. Internet banking
3. Universal banking
4. Wholesale banking

✅ Correct Answer: 3

Which one of the following is controlled by the world wide web?

1. Virtual Banking
2. Universal banking
3. Wholesale Banking
4. None of these

✅ Correct Answer: 1

Which one of the following focuses on the financial needs of the institutional clients and the industry?

1. Virtual Banking
2. Internet banking
3. Universal banking
4. Wholesale banking

✅ Correct Answer: 4

Which is the first bank established in India?

1. Bank of Calcutta
2. Bank of Hindustan
3. State Bank of India
4. General Bank of India

✅ Correct Answer: 2

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