Sunday, 22 November 2015

IBPS SBI PO Clerk Exam Expected : Objective Questions of BANKING KNOWLEDGE : Quiz - 22

1. A draft issued by the bank has been lost by the payee. He sends a letter to the issuing bank to stop payment. Bank will:
(A) note caution and will advise the payee to contact purchaser of the draft
(B) not act on the request
(C) stop payment
(D) None of the above

2. Across the face of a cheque bears the words Peoples Bank. What is its significance:
(A) it is an extraneous matter appearing on the cheque. Hence should be returned

(B) the cheque is specially crossed in favour of Peoples Bank
(C) it is not a crossing as it does not contain two parallel lines
(D) None of the above

3. BCSBI stands for:  
(A) Banking Codes and Standards Boards of India
(B) Board Code for Standards in Branches
(C) Board Code for Standards in Banking
(D) None of the above

4. As per RBI directives which of the following areas/functions cannot be outsourced by the Banks:
(A) opening and closing of accounts
(B) cash collection from the parties
(C) recovery of bad loans
(D) credit and debit cards

5. As per RBI guidelines, when a counterfeit note is detected at the branch, it should be:
(A) Branded with a stamp COUNTERFEIT BANKNOTE
(B) Recorded in a separate register under authentication
(C) acknowledged in the prescribed format of RBI and issued to the tenderer
 
(D) All of the above

6. Asset Reconstruction Company is associated with:
(A) DICGC
(B) ECGC

(C) NPA
(D) SEBI

7. As per KYC Policy, the list of terrorist organizations is supplied to the Banks by the:
(A) Government of India
(B) CIBIL
(C) IBA
(D) RBI

8. At what stage of opening of bank account is the checking of Politically Exposed Persons (PEP) carreid out
(A) at the first point of customer interaction
(B) at the Account Services Level
(C) at the Central Account Services Level
(D) one month after the account is opened

9. Authorized Dealers for foreign exchange transactions are appointed by:
(A) Reserve Bank of India
(B) Government of India
(C) Individual Banks
(D) FEDAI

10. Balance of Trade of a country is equivalent to:
(A) difference between the Inward and Outward remittances made in foreign exchange
(B) surplus generated shown in a Trading Account
 
(C) difference between exports and imports
(D) none of the above

11. Banker’s right of set off can be exercised on receipt of:
(A) Income Tax Attachment Order
(B) Garnishee Order
 
(C) Both A and B
(D) None of the above

12. Association of National Exchanges Members of India (ANMI) is a body consisting of:
(A) Bankers and SEBI
(B) SEBI and IBA
 
(C) Brokers Operating in the National Exchanges
(D) Bankers, SEBI, IBA and RBI

13. Banks generally prefer to extend finances to registered firms only, because:
(A) banks will have priority over creditors in case of liquidation of the firm

(B) the firm can sue the debtors in case of default on their part
(C) banks can sue the firm in case of default
(D) the creditors can sue the firm

14. Banks should not grant new loans for purpose of minor irrigation in:
(A) White Block
(B) Grey Block
 
(C) Dark Block
(D) AU of these

15. Borrower’s ability to meet the immediate liabilities is indicated by:
(A) Current Ratio

(B) Acid Test Ratio
(C) Debt Equity Ratio
(D) None of these

16. Branches receive Potential Linked Plan through:
(A) Block Level Banker’s Committee
(B) State Level Banker’s Committee
(C) District Consultative Committee
(D) Lead Bank Department

17. By Deemed Exports it means:  
(A) supplies of goods and services to units within the country which can earn foreign currency to the country
(B) exports made by units situated in EPZ areas to out of country
(C) exports made by EOU out of the country
(D) anticipated value of exports

18. By devaluation we mean:
(A) A A fall in the domestic value of a currency
(B) A fall in the external value of a currency caused by the market forces

(C) A fall in the external value of a currency caused by Government action
(D) None of the above

19. Capitalization of Reserves is carried out by issue of to the existing shareholders:
(A) Additional shares
 
(B) Bonus shares
(C) Incentives
(D) None of these

20. Certificate in respect of an SSI unit is given by:
(A) RBI
(B) Chamber of Commerce
 
(C) District Industries Centre
(D) None of these

21. Banking services offered to units set up in Special Economic Zones (SEZs) have been exempted for paying tax  
(A) Capital Gains Tax
(B) Income Tax
(C) Service Tax
(D) None of these

22. Closed Economy is one in which:
(A) only export takes place
(B) money supply is fully controlled
(C) deficit financing takes place
 
(D) neither export nor import takes place

23. Concept of Service Area Approach was recommended by:
(A) R.V. Gupta
(B) A.D. Gorawala
(C) Dr. P.D. Ojha Committee
(D) Dr. Kalia

24. Credit Exposure does not include:
(A) Bridge Loans
(B) Working Capital Demand Loan
(C) Shares of the company underwritten by the bank

(D) Advances against the Bank’s fixed deposits granted to a company

25. Commercial Papers are secured by:
(A) floating charge on stocks

(B) unsecured loans
(C) fixed assets
(D) book-debts

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