Banking Awareness Practice Questions with Answers

Banking Awareness – Set-01

Questions in this set were asked on our Facebook Page on 30th June 2017. If you came here from our page, in this post you will find answer to the questions I asked. 1. Which among the following had won the 2017 Malaysia Masters Grand Prix Gold Women’s Singles title? A. Pornpawee Chochuwong B. P V Sandhu […]

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Q. Which of the following statement is TRUE for the Fixed Income Securities?

Answer: A. Holders of fixed-income securities are not owners, but the creditors Fixed Income Securities are debt instrument where the issuer; a corporation or government; agreed to pay a predetermined amount of interest on a fixed schedule. Unlike equity where the investor is the owner, the holder or investor has the creditor relationship with the issuer … Continue reading Q. Which of the following statement is TRUE for the Fixed Income Securities?

Which of the following bank has signed up as a national supporter for the under 17 FIFA world cup, scheduled to kick start on October 2017?

Answer: B. Bank of Baroda The Bank of Baroda has signed up as a national supporter for the under 17 FIFA world cup, scheduled to kick start in October 2017. It is the first Indian company to do so. Learn more: FIFA ropes in Bank of Baroda as first ‘National Supporter’ for the FIFA U-17 World … Continue reading Which of the following bank has signed up as a national supporter for the under 17 FIFA world cup, scheduled to kick start on October 2017?

Q. What is NOSTRO account?

Answer: C. accounts which are generally held with a foreign bank on behalf of a domestic bank Nostro in Latin literally means 'ours'. Hence, Nostro account points at - "Our account with you". Take for example a bank in India, say Bank of Maharashtra (BoM),  gets a lot many remittances and trade related money sent … Continue reading Q. What is NOSTRO account?

Q. Which of the following bank had the key role in concluding the biggest asset resolution in India with the consummation of the Rs. 16,189 crore takeover of Jaypee Cements by Ultratech?

Answer: B. ICICI Bank ICICI bank had the key role in concluding the biggest asset resolution in India with the consummation of the Rs. 16,189 crore takeover of Jaypee Cements by Ultratech. Learn more:  Bankers Pull Off Largest Asset Resolution With UltraTech-JP Cement Deal If you like our work please share our Facebook page with your … Continue reading Q. Which of the following bank had the key role in concluding the biggest asset resolution in India with the consummation of the Rs. 16,189 crore takeover of Jaypee Cements by Ultratech?

Q. Which of the following statements is true? A. Banks cannot accept demand and time deposits from public B. Banks can accept only demand deposits from public C. Banks can accept demand and time deposits only from government D. Banks can accept both demand and time deposits from public

Answer: D. Banks can accept both demand and time deposits from public Let us first understand the time and demand deposits. Time deposits are the sum of money banks accept for a fixed term (say, for 1 year, 3 years or 5 years.) and can be withdrawn only after the term expires or at the … Continue reading Q. Which of the following statements is true? A. Banks cannot accept demand and time deposits from public B. Banks can accept only demand deposits from public C. Banks can accept demand and time deposits only from government D. Banks can accept both demand and time deposits from public

Q. Which of the following terms is not used in Economics? A. Exogenous B. Depreciation C. Deep Market D. All are Economics term

Answer: D. All are Economics term Exogenous: In an economic model, an exogenous change is one that comes from outside the model and is unexplained by the model.  Depreciation: In economics, depreciation is the gradual decrease in the economic value of the capital stock of a firm, nation or other entity, either through physical depreciation, … Continue reading Q. Which of the following terms is not used in Economics? A. Exogenous B. Depreciation C. Deep Market D. All are Economics term

Q. ECML technology is used in which of the following banking products/services? A. Home Loans B. Foreign Exchange Services C. Digital Wallet D. Internet Banking

Answer: C. Digital Wallet Digital Wallet software is developed using the Electronic Commerce Modeling Language (ECML) technology to import customer information from digital wallet to checkout form. Electronic Commerce Modeling Language is a protocol that dictates how online retailers structure and set up their checkout forms. It is formatted using XML tags. It is a … Continue reading Q. ECML technology is used in which of the following banking products/services? A. Home Loans B. Foreign Exchange Services C. Digital Wallet D. Internet Banking

Q. Which of the following terms is not used in banking and Finance? A. Capital gain B. Blue Chip C. Market risk D. Stare decisis

Answer: D. Stare decisis Except "Stare decisis" which is a legal term, all are used in banking and finance. Capital gain: Any profit or gain that arises from the sale of a ‘capital asset’ is a capital gain. Blue Chip, often referred as Blue Chip Stocks, are the shares of very large and well-recognised companies … Continue reading Q. Which of the following terms is not used in banking and Finance? A. Capital gain B. Blue Chip C. Market risk D. Stare decisis

The first and the foremost mutual fund of India, UTI, was established in

Answer: B. 1963 The first and the foremost mutual fund of India, UTI, was established in 1963 by an act of parliament, known as UTI Act 1963. Learn more: Unit Trust of India From Wikipedia, the free encyclopedia If you like our work please share our Facebook page with your classmates. You can also subscribe to get … Continue reading The first and the foremost mutual fund of India, UTI, was established in