Banking and Finance Awareness Quiz for LIC

Dear Readers, Banking Awareness Questions play important role in General Awareness section. Around 50-60% of questions  from Banking Awareness which includes recent Banking updates also.


Try to Answer Banking Awareness questions given in this post. We will provide you more questions in next post.

1. Insurance cover for bank deposits in our country is provided by  ………….
(1) SBI  
(2) Govt. of India
(3) GIC  
(4) LICI
(5) DICGC

2. Loan of very small amounts given to low income groups is called ……….
(1) Cash credit
(2) Micro credit
(3) Simple overdraft
(4) No frills loans
(5) Rural credit

3. When a banker talks about CDR, what is he talking about?
(1) Corporate Debt Restructuring
(2) Corporate Debt Rollover
(3) Company Debt Rollover
(4) Corporate Deposit Restructuring
(5) Company Deposit Restructuring

4. Expand the term ALM as used in Banking/Finance sector?
(1) Asset Liability Management
(2) Asset Liability Maturity
(3) Asset Liability Mismatch
(4) Asset Liability Manpower
(5) Asset Liability Maintenance

5. Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) are terms most closely related to which of the following industries/ markets?
(1) Capital Market
(2) Banking industry
(3) Commodities market
(4) Money Market
(5) Mutual fund industry

6. What is the maximum period for which domestic term deposits are normally accepted by banks in our country?
(1) 3 years
(2) 5 years
(3) 7 years
(4) 10 years
(5) 12 years

7. What does the letter ‘L’ stands for in the term LAF commonly used in financial/economic news?
(1) Liquidity
(2) Least
(3) Liabilities
(4) Long
(5) Liquid

8. The Banking Ombudsman
(1) is in charge of bank loans for buses
(2) fixes the rates of interest for loans
(3) resolves complaints of customers
(4) issues licences for new bank branches
(5) is the beau of all nationalised banks

9. Monetary Policy as an arm of the economic policy is administered by .............
(1) Government of India
(2) Reserve Bank of India
(3) State Bank of India
(4) Governments of the respective states
(5) None of these

10. Which of the following is not a primary function of a Bank?
(1) Granting Loans
(2) Collecting Cheques/Drafts customers
(3) Facilitating import of goods
(4) Issuing Bank Drafts
(5) Selling Gold/Silver Coins

ANSWERS -
1. 5
2. 2
3. 1
4. 1
5. 2
6. 4
7. 1
8. 3
9. 2

10. 3


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