Banking Awareness Quiz for IBPS PO MAINS Set - 07

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Banking Awareness Quiz for IBPS PO MAINS Set - 07

Q1. Which of the following was/were the objectives of the Competition Act 2002?
A. To keep a check on unfair trade practices
B. To promote Govt-supported products/services in competition with those launched by private parties
C. To control the activities of the stock markets in India which are considered highly volatile
a) Only (A) and (B)
b) Only (B)
c) All (A) and (B)
d) All (A), (B) and (C)
e) None of these

Q2. Who among the following cannot open ‘No Frill Account’ in a bank?
a) Agricultural labourer
b) Student
c) A small firm selling white goods
d) Farmer
e) A labourer in unorganised sector

Q3. Which of the following Acts has specially been enacted to help banks deal with bad loans?
a) Negotiable Instrument Act
b) Banking Regulation Act
c) Offshore Banking Act
d) Companies Act

Q4. Which of the following organisations is created specially for providing credit to small and medium enterprises in India?
e) None of these

Q5. What is the full form of ‘NBFC’ as used in the financial sector?
a) New Banking Finance Corporation
b) Non-Banking Finance Company
c) New Business Formation Company
d) Net Banking and Finance Cooperative
e) None of these

Q6. Which of the following terms is NOT used in the field of Banking/Finance?
a) Goods and Services
b) Refund
c) Tax Deducted at Source
d) Fundamental duties of a citizen
e) Relief to exporters

Q7. What does the letter ‘V’ denote in the term ‘VAT’ as used in banking?
a) Valuable
b) Various
c) Vendor
d) Very
e) Value

Q8. Which of the following is called the World Bank?
a) International Monetary Fund
b) Asian Development Bank
c) World Trade Organisation
d) International Reconstruction and Development Bank
e) None of these

Q9. We frequently read about ‘MFI’ in newspapers. What is the full form of this term, which is used in financial sector?
a) Micro-Finance Institutions
b) Micro-Functional Issues
c) Mutual Funds in India
d) Monetary Forum of India
e) Monetary and Financial Institutes

Q10. Micro credit or micro-finance is a novel approach to banking with the poor. In this approach, bank credit is extended to the poor through
a) Self-Help Groups
b) Anganwadi
c) Cooperative Credit Societies
d) RBI
e) None of these


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