Banking Awareness Quiz for IBPS CWE-VI and SBI Clerk

Dear Readers, Practice Banking Awareness quiz for IBPS CWE-VI bank exams and SBI CLerk Exam.

Banking Awareness Quiz for IBPS CWE-VI and SBI CLerk

1. Savings bank accounts are opened by ______
1) Individuals for savings purposes
2) Limited Companies and Partnerships for Savings purposes
3) Traders and Manufactures for business purposes
4) Co-operative banks for savings
5) None of these

2.Which of the following is not a component of India's Securities Market ?
1) Corporate Equity
2) Derivatives on Currency
3) Government Bonds
4) Commodity Futures
 5) None of these

3. Gilt - edged market means _____
1) Market of govt. securities
2) Bull market
3) Market of guns
4) Market of pure metals
5) None of these

4. On which one of the following issues can SEBI penalize any company in India ____
I) Violation of Banking Regulation Act.
II) Violation of Foreign Portfolio of Investment guidelines.
III) For violation of Negotiable Instrument Act.
1) Only II
2) Only I
3) Both I and II
4) Both II and III
5) None of these

5. Resident foreign currency account can open only for-
1) Public Sector Banks
 2) Scheduled Commercial Banks
3) Private Sector Banks
4) Regional Rural Banks
 5) None of these

6. The full form of SPNS is-
1) Sharing process network system
2) Shared payment network system
3) Shared procedural network system
4) Shortest possible networking system
5) None of these

7. Union government approved the constitution of the 7th pay commission. Its recommendations are likely to be implemented with effect from January 1, 2016. Who has been appointed as Chairman of the Commission ?
1) Ashok Kumar Mathur
 2) Srinivasa Varadachariar
3) B. N. Srikrishna
4) Ashok Jain
5) None of these

8.Which is the full form of the abbreviation IFRS as used in corporate/financial sector ?
1) International Financial Reporting Standards
2) Indian Financial Reconciliation Standards
3) International and Formal Reporting System
4) Indian Formal Reporting System
5) None of these

9.What is the maximum balance amount that is eligible for earning interest in a Normal savings bank account ?
1) Rs 2.5 Lakh
2) Rs 3.5 Lakh
3) Rs 2 Lakh
4) No limit
5) None of these

10.Which of the following is not a primary function of a bank ?
1) Facilitating import of goods
2) Issuing Bank Drafts
3) Granting Loans
4) Selling Gold / Silver Coins
5) None of these


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