Banking Awareness Quiz for IBPS PO Mains, IBPS RRB PO

Banking Awareness Quiz for IBPS PO Mains, IBPS RRB PO.

1. Currency swap is an instrument to manage _______
A. Interest Rate Risk
B. Currency Risk
C. Cash flows in different countries
D. All of the Above
E. None of the Above

2. “Hawala transactions” in India are prohibited under the provision of which of the following acts?
A. Banking Regulation Act
B. Financial Action Task Force Act
C. Foreign Exchange Management Act
D. All of the Above
E. None of the above

3. Which of the following refers to an account that a bank holds in a foreign currency in another bank?
A. Nostro Account
B. Vostro Account
C. LORO Account
D. Mirror Account
E. None of the Above

4. Local currency account maintained by a local bank for a foreign (correspondent) bank is termed as _________
A. Nostro Account
B. Vostro Account
C. LORO Account
D. Mirror Account
E. None of the Above

5. ____is a Current Account Maintained by one Domestic Bank on behalf of other domestic bank in foreign bank in foreign currency
A. BSBDA
B. CA
C. LORO Account
D. Mirror Account
E. None of the Above

6. Paper Money issued on the credit of a bank or government is called ______
A. Commodity Money
B. Representative Money
C. Fiat Money
D. Fiduciary currency
E. None of the Above

7. Any type of money that has face value greater than its value as material substance is known as _______
A. Commodity Money
B. Representative Money
C. Fiat Money
D. fiduciary currency
E. None of the Above

8. Loan and Advances of a bank come under which of the following category?
A. Assets
B. Liabilities
C. Deposits
D. All of the Above
E. None of the Above

9. NABARD was established on the recommendations of the ______________
A. Public Accounts Committee
B. Shivaraman Committee
C. Narasimham Committee
D. All of the Above
E. None of the Above

10. RBI sold its stake in NABARD to the Government of India, which now holds _____ stake
A. 65%
B. 70%
C. 95%
D. 99%
E. None of the Above

Answers
1-C
2-C
3-A
4-B
5-C
6-D
7-B
8-A
9-B
10-D