190
112.4k

390+ Banking and Finance Solved MCQs

These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .

Chapters

Take a Test
Chapter: Technology in Banking
351.

NEFT refers to…………...

A. National Economic Fund Transfer
B. National Economic Fund Transfer
C. National Electronic Fee Transfer
D. none of these
Answer» D. none of these
discuss
352.

IFSC stands for …………..

A. Indian Financial System Code
B. International Financial System Code
C. Indian Fund Service Code
D. None of these
Answer» A. Indian Financial System Code
discuss
353.

RTGS stands for ……………

A. Real Time Gross Settlement
B. Real Term Gross Settlement
C. Real Time Goal Settlement
D. Real Term Goal Settlement
Answer» A. Real Time Gross Settlement
discuss
354.

SWIFT stands for ……………..

A. Society for Worldwide Internet Financial Telecommunications
B. Solution for Worldwide Interbank Financial Telecommunications
C. Society for Worldwide Internet Financial Telecommunications
D. Solution for Worldwide Interbank Financial Telecommunications
Answer» D. Solution for Worldwide Interbank Financial Telecommunications
discuss
355.

CBS stands for ……..

A. Code Banking Solutions
B. Core Banking Solutions
C. common Banking Solutions
D. Credit Banking Solutions
Answer» B. Core Banking Solutions
discuss
356.

CTS refers to ………..

A. Cheque Truncation System
B. Cheque Transaction System
C. Cheque Truncation Solution
D. Cheque Transaction Solution
Answer» A. Cheque Truncation System
discuss
357.

Credit Information Bureau India Limited is India’s first credit rating agency which was incorporated in the year……

A. 1988
B. 2000
C. 2005
D. 1995
Answer» B. 2000
discuss
358.

KYC refers to………….

A. Know Your Customer
B. Know Your Credit
C. Know Your City
D. Know Your Company
Answer» A. Know Your Customer
discuss
359.

A cheque bears a date earlier than the date on which it is presented to the bank it is called ………………

A. post-dated cheque
B. ante- dated cheque
C. outstation cheque
D. local cheque
Answer» B. ante- dated cheque
discuss
360.

MICR refers to………………..

A. Magnetic Ink Character Recognition
B. Magnetic Information Character Recognition
C. Magnetic Ink Code Recognition
D. Magnetic Icon Character recognition
Answer» A. Magnetic Ink Character Recognition
discuss
361.

Delivery of banks service to a customer at his office or home by using electronic technology is called ----

A. ATM
B. EFT
C. E-Banking
D. None of these
Answer» C. E-Banking
discuss
362.

The amount is instantly credited to the account of the customer in -----

A. ATM
B. EFT
C. CDM
D. None of these
Answer» C. CDM
discuss
363.

Virtual banking is also called -----

A. Internet Banking
B. Home banking
C. Mobile banking
D. None of these
Answer» A. Internet Banking
discuss
364.

Plastic money is ----

A. Debit card
B. Credit card
C. ATM card d
D. None of these
Answer» B. Credit card
discuss
365.

KCC is ----

A. Kissan credit card
B. Kissan customer card
C. Key Credit Card
D. None of these
Answer» A. Kissan credit card
discuss
366.

------- is based on the voice processing facility available with the bank computers.

A. Internet Banking
B. Tele Banking
C. Mobile Banking
D. All
Answer» B. Tele Banking
discuss
367.

------bank can accept deposit only ,but cannot lend .

A. Consortium Bank
B. Payment Bank
C. Small Finance Bank
D. None of these
Answer» B. Payment Bank
discuss
368.

------- Banks can issue ATM Debit cards but no Credit cards.

A. Payment Bank
B. Consortium Bank
C. Small Finance Bank
D. None of these
Answer» A. Payment Bank
discuss
369.

------- banks accept deposits but customer balance should not exceed Rs.1 lakh

A. Small Finance Bank
B. Consortium Bank
C. Payment Bank
D. None of these.
Answer» C. Payment Bank
discuss
370.

------ is to perform lending activities among weaker sections of the community.

A. Small Finance Bank
B. Consortium Bank
C. Payment Bank
D. All
Answer» A. Small Finance Bank
discuss
371.

----- are norms for banks aimed at mitigating the risk and strengthening the capital structure of the banks of member countries.

A. IRAC rules
B. BASEL norms
C. Capital Adequacy Norms
D. None of these
Answer» B. BASEL norms
discuss
372.

To strengthen the capital base of banks RBI laid down -------

A. IRAC rules
B. BASEL norms
C. Capital Adequacy Norms
D. None of these
Answer» C. Capital Adequacy Norms
discuss
373.

For providing transparency in accounting and reporting procedures of banks -- -- are introduced in 1992

A. IRAC rules
B. BASEL norms
C. Capital Adequacy Norms
D. None of these
Answer» A. IRAC rules
discuss
374.

------ banking refers to the use of technology and communication systems in delivering banking products and services to customers.

A. Hi-tech banking
B. Virtual banking
C. PC
D. Home banking.
Answer» A. Hi-tech banking
discuss
375.

Which of the following is known as plastic money

A. Credit card
B. Debit card
C. None of these
D. Both of these
Answer» D. Both of these
discuss
376.

Debit card means

A. Pay later
B. Pay now
C. Both of these
D. None of these
Answer» B. Pay now
discuss
377.

Which type of loans have less prone to the risk of becoming NPA

A. Retail loans
B. Whole sale loans
C. Gold loans
D. Mortage loans
Answer» A. Retail loans
discuss
378.

Which is the fastest possible money transfer system through banking channel

A. RTGS
B. EFT
C. ATM
D. None of these
Answer» A. RTGS
discuss
379.

Paperless banking is known as

A. RTGS
B. Internet banking
C. EFT
D. mobile banking
Answer» C. EFT
discuss
380.

Those banking services based on the voice processing facility available with the bank computers

A. Internet banking
B. Home banking
C. E banking
D. Tele banking
Answer» D. Tele banking
discuss
381.

Cash which is stored electronically on a microchip is called

A. E purse
B. Debit card
C. AYM
D. Credit card
Answer» A. E purse
discuss
382.

Electronic money is called as______ money

A. E-cash,
B. E-money,
C. E-Rupee
D. none
Answer» B. E-money,
discuss
383.

RTGS stands for _____

A. Real time goods settlement
B. Real time gross settlement
C. Real time gross standardize
D. none
Answer» B. Real time gross settlement
discuss
384.

E-payments are increased due to_____

A. online work
B. online payments
C. online shopping
D. none
Answer» C. online shopping
discuss
385.

There is competition between _______ banking and e- banking

A. traditional
B. Modern
C. private
D. none
Answer» A. traditional
discuss
386.

There is ____ in terms of transaction with E-banking

A. privacy
B. risk
C. freedom
D. none
Answer» B. risk
discuss
387.

Electronic money is called as E-cash money

A. True
B. False
C. all
D. none
Answer» B. False
discuss
388.

E-banking has no disadvantages

A. True
B. False
C. all
D. none
Answer» B. False
discuss
389.

There is no competition between traditional banking and e- banking

A. Ture
B. False
C. all
D. none
Answer» B. False
discuss
390.

There is risk in E-banking

A. True
B. False
C. all
D. none
Answer» B. False
discuss
391.

E-banking will lead to new type of job opportunity

A. True
B. False
C. all
D. none
Answer» A. True
discuss
392.

Reserve bank is the central bank of USA

A. True
B. False
C. all
D. none
Answer» A. True
discuss
393.

…………………….is the fastest possible money transfer system through banking channel

A. RTGS
B. EFT
C. ATM
D. None of these
Answer» A. RTGS
discuss
394.

RBI was introduced first ATM machine in India?

A. True
B. False
C. all
D. none
Answer» B. False
discuss
395.

Cash which is stored electronically on a microchip is called Credit Card

A. True
B. False
C. all
D. none
Answer» A. True
discuss
396.

E-payments are increased due to on line shopping.

A. True
B. False
C. all
D. none
Answer» A. True
discuss

Done Studing? Take A Test.

Great job completing your study session! Now it's time to put your knowledge to the test. Challenge yourself, see how much you've learned, and identify areas for improvement. Don’t worry, this is all part of the journey to mastery. Ready for the next step? Take a quiz to solidify what you've just studied.

Take a Test