Banking Awareness MCQs for Banking exams, IBPS, SBI

1

Consider the following with respect to the term 'Core Inflation': A) Core Inflation is the inflation rate of a particular basket of commodities. B) Core Inflation is the sudden increase in prices of certain items of food grains. C) Core inflation is caused by supply shock in certain essential commodities.

A) Only A B) Only B C) Only C D) Only A and B

Discuss

Answer & Solution

Answer: Option A

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2

ASBA is a mechanism for subscribing to applications in Initial Public Offerings (IPOs). ASBA stands for

A) Application Supported by Blocked Amount B) Application Submitted with Blocked Amount C) Acquired Shares by Blocked Amount D) Application Supported by Balance Amount

Discuss

Answer & Solution

Answer: Option A

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3

In regards to insurance, “A policy provision that allows a policy to be restored from a lapsed status and resume active coverage” is termed as?

A) Reaffirmation B) Reinsurance C) Reinstatement D) Revocation

Discuss

Answer & Solution

Answer: Option C

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4

“The termination of an insurance policy due to non-payment of premium” is technically called as?

A) Death B) Lapse C) Forfeiture D) Seize

Discuss

Answer & Solution

Answer: Option B

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5

What are ‘Open Market Operations"?

A) Activities of SEBI¬registered brokers B) Selling of currency by the RBI C) Selling of gilt¬edged securities by the government D) Sale of share by FIIs

Discuss

Answer & Solution

Answer: Option C

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6

In the opening of Savings Account (few other accounts also) bank ask to write Nominee name. Who shall be nominee?

A) Any person B) Known person only C) Female only D) Close blood relation only

Discuss

Answer & Solution

Answer: Option D

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7

The Banking Ombudsman–

A) is in charge of bank loans for buses B) fixes the rates of interest for loans C) resolves complaints of customers D) issues license for new bank branches E) is the head of all nationalised banks

Discuss

Answer & Solution

Answer: Option C

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8

Which of the following is NOT classified as a commercial bank?

A) Public sector bank B) Foreign bank C) Private sector bank D) Regional rural bank E) Urban cooperative bank

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Answer & Solution

Answer: Option E

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9

Which of the following is not the name of a Banking Organisation?

A) HDFC B) IDBI C) YES D) SEBI

Discuss

Answer & Solution

Answer: Option D

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10

Monetary Policy as an arm of the economic policy is administered by

A) Government of India B) Reserve Bank of India C) State Bank of India D) Governments of the respective states

Discuss

Answer & Solution

Answer: Option B

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