Distribution of Insurance policies both life and non-life, by banks as corporate agents through their branches.

Assurance given by banks to its customers.

Life policy issued to the bank on the life of their staff

Assurance given to bank by general insurance companies for insuring assets of the banks.

Practice Banking Awareness Miscellaneous Multiple Choice Questions Quiz-5

Q.1

Bancassurance means

Distribution of Insurance policies both life and non-life, by banks as corporate agents through their branches.
Assurance given by banks to its customers.
Life policy issued to the bank on the life of their staff
Assurance given to bank by general insurance companies for insuring assets of the banks.

Q.2

Insurance business in India is regulated by

Life Insurance Corporation of India
Reserve Bank of India
Insurance Regulatory and Development Authority (IRDA)
SEBI

Q.3

The society for world-wide inter-bank financial telecommunication (SWIFT)

was registered as a company in Belguim
is a bank-owned non-profit co-operative society
became operational in May 1977
None of these

Q.4

How many banks in India have joined the international telecommunication network of SWIFT?

Q.5

The commercial banking system in India comprises of

Scheduled and non-scheduled banks
Nationalised banks and private sector banks
Regional rural banks, cooperative banks
Land development banks

Q.6

Scheduled bank refers to a bank

Authoriesd by central government to transaction government business
Registered with ministry of finance, Govt. of India
Which is included in the second schedule to the RBI act, 1934
Incorporated as a cooperative society

Q.7

Enumerate the main functions of a banker as per banking regulations act. 1949?

Accepting deposit of money
Advancing of loans
Issuance of letters of credits
Above all

Q.8

The SecuritisationAnd Reconstruction of Financial Assets and Enforcement of Security Interests Act (SARFAESI Act) at present, is not applicable to

Public Sector Banks
Financial Institutes of the Govt.
Private Banks
Non Banking Financial Companies

Q.9

"Sub Prime lending" is a term applied to the loans made to

Those borrows who do not have a good credit history
Those who wish top take loan against the mortgage of tangible assets
Those who have a good credit history and are know to bank since 10 years
Those borrowers who are most preferred customers of the bank

Q.10

Which of the following are intermediaries are not working for Banks?

Direct sales agents
Automatic dealers
Whole sellers
Merchant establishments

Q.11

In banking services, which are the major characteristics affecting the channel selection

Intangibility
Inseparability
Perish ability
All of the above

Q.12

CBS stands for

Core Banking solution
Centralized based system
Computer based system
None of these

Q.13

What are the various facilities offered by banks through Tele banking?

Balance enquiries and Transfer of funds
Enquiries about collection or specific credits/debits transaction
Request for statement of accounts
All of the above

Q.14

What do you mean by home banking?

Home banking is an extended version of tele banking.
in home banking the customer is able to access his personal account from his home for availing a variety of services which is made available.
home banking is availed through the customer’s personal computer attached to a telephone line and modem
All of the above

Q.15

Which of the following statements is correct about soiled/mutilated note?

All banks are authorized to accept soiled notes across their counters and pay the exchange vale
All public senor bank branches and currency chest branches of private sector banks are authorised to adjudicate and pay value in respect of mutilated notes
The RBI has also authorised all Commercial Bank branches to treat certain notes in ‘two pieces’ as soiled notes and pay exchange value
All of the above

Q.16

For issuing notes, RBI has required to hold the minimum reserve of Rs. 200 crore of which not lesss than Rs. ______ crore to be hold in gold.

Q.17

Under which Section of the Reserve Bank of India Act, the Reserve Bank has the sole right of note issue?

Q.18

At present, the RBI issue notes in the denominations of Rs.

1, 2, 5, 10, 20, 50, 100 and 500
1, 2, 5, 10, 20, 50, 500 and 1000
2, 5, 10, 20, 50, 100, 500 and 1000
2, 5, 10, 20, 50, 100, 1000 and 10000

Q.19

The one-rupee note bears the signature of ____________.

RBI Governor
Deputy Governor
Finance Secretary
Finance Minister

Q.20

Any note, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable is a/an

Mutilated note
Imperfect note
Soiled note
Mismatched note

Q.21

A cheque is considered as stale when if has been in circulation for

More than forty eight hours
More than one year
More than six months unless otherwise specified
More than three months

Q.22

Where the signature of the drawer of a cheque is not genuine , such a cheque is called

Post dated cheque
Stale cheque
Forged cheque
All of the above

Q.23

In India, which among the following is/are a part of Legal Tender Money?

Both coins and currency notes
Both coins and bank drafts
Both currency notes and SDRs
Only currency notes issued by RBI

Q.24

Tele banking is attracting the fancy of urban customer due to

Non-availability of time to visit bank branches
Transport bottlenecks
Traffic Jams
All of the above

Q.25

Who decided on the quantity of coins to be minted?

The Government of India
RBI
Either 1 or 2
All of the above

Q.26

Which of the following methods is currently used in India to issue note?

Fixed Fiduciary System
Maximum Fiduciary System
Percentage Reserve System
Minimum Reserve System

Q.27

The provisions contained in section 138 of the negotiable instruments act 1881 shall

be attracted whether the cheques is ante-dated or post-dated provided it is presented within 3 months of the date of cheques or the period of validity, whichever, is earlier
not be attracted if the cheques is ante-dated
not be attracted if the cheques is post-dated
All of the above

Q.28

Which of the following was set up as a exclusive data communication network for banks in terms of recommendations of committee on communication network of banks?

BANKNET
SWIFT
MICR
None of these

Q.29

What is international banking?

Providing of variety of financial services to the customers who are living outside their home country
Providing of financial services to the customers who are living in home country
Banking between two countries
All of the above

Q.30

On march 1,1992, Reserve Bank of India announced a new system of exchange rates known as

Partial convertibility
Liberalized exchange rate system
Both A and B
None of these