Banking Awareness Quiz for IBPS PO MAINS Set - 08

image 2017-11-24 13:31:59
Banking Awareness Quiz for IBPS PO MAINS Set - 08

Q1. TRAI regulates the functioning of which of the following services?
a) Port
b) Trade
c) Telecom
d) Transport
e) None of these

Q2. Many times we read about ‘Hawala’ transactions in newspapers. Hawala, in India, is prohibited under the provision of which of the following Acts?
a) Fiscal Responsibility and Budget Management Act
b) Banking Regulation Act
c) Financial Action Task Force Act
d) Foreign Exchange Management Act
e) None of these
Q3. Which of the following is the popular name of the norms by which a bank satisfies itself about the customer’s identity and activities?
a) Basel norms
b) KYC norms
c) Service norms
d) Lending norms
e) None of these

Q4. Mutual funds are regulated by
a) Association of Mutual Funds of India (AMFI)
b) Securities and Exchange Board of India (SEBI)
c) Reserve Bank of India
e) None of these

Q5. Bancassurance is
a) an insurance scheme to insure bank deposits
b) an insurance scheme exclusively for the employees of banks
c) a composite financial service offering both banking and insurance products
d) a bank deposit scheme exclusively for employees of insurance companies
e) None of these

Q6. Which of the following bills presented in the Parliament will bring some changes in the existing tax regime?
a) Direct Taxes Code (DTC) Bill
b) Foreign Exchange Management Regulatory Bill
c) Companies Act Bill
d) Salaries and Perks for MPs Bill
e) None of these

Q7. The full form of PIN in the parlance of an ATM card is
a) Permanent Information Number
b) Personal Identification Number
c) Professional Identification Number
d) Permanent Identification Number
e) Personal Index Number

Q8. Which of the following is not a function of the RBI ?
a) Maintaining Forex
b) Deciding Bank Rate, CRR and SLR from time to time
c) Opening Savings Accounts for general public
d) Prescribing the Capital Adequacy Ratio
e) Currency Management

Q9. Obligation of a banker to maintain secrecy is applicable to
a) only in case of existing deposit accounts
b) only in case of existing loan accounts
c) only in case of closed accounts
d) in all types of deposit/loan accounts (existing/closed)
e) None of these

Q10. Banks, today, in addition to normal banking services, offer which of the following services?
a) Internet Banking
b) Depository Services
c) Financial Counselling Services
d) Only (a) and (b) above
e) All (a), (b) and (c) above


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