Banking Awareness Quiz for IBPS PO MAINS Set - 02

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Banking Awareness Quiz for IBPS PO MAINS Set - 02

Q1. One single statement that depicts the financial position of a bank and/or business enterprise at a given point of time is called
a) Statement of product details
b) Reconciliation Statement
c) Balance Sheet
d) Quarterly returns submitted to RBI
e) Trading and manufacturing account

Q2. Banks borrow money from the RBI on which of the following rates?
a) Reverse Repo Rate
b) Repo Rate
c) SLR
d) CRR
e) Savings Rate

Q3. The Reverse Mortgage scheme is launched to give benefit to which of the following groups of the society?
a) Govt employees
b) Senior citizens
c) Unemployed youth
d) War widows
e) None of these

Q4. What does the letter ‘M’ depict in the term SME as used in the financial world?
a) Maximum
b) Medium
c) Mercantile
d) Mutual
e) Ministry

Q5. One of the major challenges banking industry is facing these days is deliberate efforts of some people to bring money earned through illegal activities in circulation. Which of the following acts has been passed to prevent this activity?
a) Payment and Settlements Act
b) Banking Regulation Act
c) Negotiable Instruments Act
d) Narcotics and Psychotropic Substance Act
e) Prevention of Money Laundering Act

Q6. Which of the following organisations provides guarantee to the exporters?
a) Exim Bank
b) Export Credit Guarantee Corporation
c) Director General Foreign Trade
d) Reserve Bank of India
e) Registrar of companies

Q7. Which of the following terms is not used in banking world?
a) Credit
b) Rate
c) Financial status
d) Discount
e) Absolute zero

Q8. What is the full form of IRR as used in banking/financial sector?
a) Internal Rate of Return
b) Internal Revaluation Reserve
c) Investment Reserve Ratio
d) Internal Risk Return
e) None of the above

Q9. Which of the following organisations provides credit history of the borrowers?
d) RBI

Q10. Banks need liquidity to meet which of the following objectives of banking?
A. To meet deposit withdrawal
B. To fund loan demands
C. To maintain public confidence
a) Only (A)
b) Only (B)
c) Only (C)
d) Only (A) and (B)
e) Only (B) and (C)


Q1. c, Q2. b, Q3. b, Q4. b, Q5. e
Q6. b, Q7. e, Q8. a, Q9. a, Q10. c