Banking Awareness Quiz

1. A segment of the financial market in which financial instruments with high liquidity and very short maturities are traded is known as---?
A Money Market
B Stock Market
C Derivative market
D Equity Market
E Mutual Fund Market
Ans- A

2. The system of Cheque clearing and settlement between Banks based on electronic data/images or both without physical exchange of instruments is known as .....?
A Cheque truncation
B Cheque Embossing
C Cheque Standardization
D Cheque Digitalization
E Cheque Clearance
Ans- A

3. As per guidelines issued by the Reserve bank of India, how much will a customer have to pay for checking account balance at a white label ATM?
A Rs 1
B Rs 2
C Rs 5
D Rs 10
E Rs 20
Ans- C

4. In which country is the bank for International Settlements Located?
A USA
B Switzerland
C Belgium
D Canada
E Japan
Ans- B

5. When a payment is made through RTGS/NEFT, the customer/remitter receives an acknowledgement of the payment made. What is the form of that acknowledgement?
A Downloadable acknowledgement slip from the Reserve bank Of India
B Email
C SMS
D Both B and C
E  All A, B,C
Ans- D

6. Which term is used to describe a situation where an inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high?
A Recession
B Depreciation
C Stagflation
D Depression
E Running inflation
Ans- C

7. Which measure is used by the RBI to buy or sell government bonds or other securities in open market?
A Rationing of Credit
B Direct Action
C Consumer Credit Regulation
D Statutory Liquidity Ratio
E Open Market Operations
Ans- E

8. Which of the following authority appoint Banking Ombudsman in India?
A SEBI
B RBI
C NABARD
D CII
E Finance Ministry
Ans- B

9. To which country does Muhammad Yunus , who develoed the concepts of micro credit and micro finance, belong?
A Egypt
B Pakistan
C Indonesia
D India
E Bangladesh
Ans- E

10. Lack of access to Financial services is technically known as.......?
A Financial instability
B Financial inclusion
C Financial stability
D Financial exclusion
E  Poverty
Ans- D

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