McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , Bachelor of Commerce (B Com) .
| 1. |
Demand deposit also known as ---------------- . |
| A. | Current a/c |
| B. | Fixed Deposit a/c |
| C. | Capital a/c |
| D. | Recurring Deposit |
| Answer» A. Current a/c | |
| 2. |
Commercial banks to expand deposit through expanding their loans and advances is known as--------. |
| A. | Credit creation |
| B. | Trade discount |
| C. | Deposit |
| D. | Bank advances |
| Answer» A. Credit creation | |
| 3. |
Rediscounting and giving advance the central bank charges interest at a rate which is known as --------------. |
| A. | CRR |
| B. | SLR |
| C. | Bank rate |
| D. | Credit |
| Answer» C. Bank rate | |
| 4. |
The nationalization of 14 commercial bank was on -----------------------. |
| A. | 19 July 1969 |
| B. | 15 Aug 1972 |
| C. | 15 April 1980 |
| D. | 19 Jan 1959 |
| Answer» A. 19 July 1969 | |
| 5. |
The State Bank of India was established under the State Bank of India Act on ----------------. |
| A. | 1935 |
| B. | 1948 |
| C. | 1955 |
| D. | 1952 |
| Answer» C. 1955 | |
| 6. |
----------------commission recommended the formation of a central bank in 1926. |
| A. | Narasimham Committee |
| B. | Bretton Wood Committee |
| C. | Hilton Young Committee |
| D. | Banking Enquiry Committee |
| Answer» C. Hilton Young Committee | |
| 7. |
Overdraft is a credit facility granted by commercial bank to------------- holders. |
| A. | Current a/c |
| B. | Cash a/c |
| C. | Capital a/c |
| D. | Reserve Fund |
| Answer» A. Current a/c | |
| 8. |
Money at call and short notice is also known as----------------------. |
| A. | Capital market |
| B. | Interbank call money market |
| C. | Financial system. |
| D. | Financial call money |
| Answer» B. Interbank call money market | |
| 9. |
Creation of derivative deposit out of the money from primary deposit is called--------------------- |
| A. | Cash credit |
| B. | Lending money |
| C. | Credit creation |
| D. | Loan and advances |
| Answer» C. Credit creation | |
| 10. |
The first joint stock Bank in India? |
| A. | IDBI |
| B. | ICICI |
| C. | Imperial Bank |
| D. | Allahabad Bank |
| Answer» C. Imperial Bank | |
| 11. |
“Buy now pay latter” is the motto of a--------------------- |
| A. | ATM |
| B. | Debit card |
| C. | Credit card |
| D. | MICR |
| Answer» C. Credit card | |
| 12. |
E-purse is a prepaid card and is known as -----------------. |
| A. | Stored value card |
| B. | Electronic card |
| C. | E-cash |
| D. | Electronic credit card |
| Answer» A. Stored value card | |
| 13. |
----------------means the transfer of money from one bank a/c to another electronically |
| A. | EFT |
| B. | SWIFT |
| C. | NEFT |
| D. | E-purse |
| Answer» A. EFT | |
| 14. |
Bank a/c over the world are inter-linked through satellite provided by------------------. |
| A. | PSAM |
| B. | SWIFT |
| C. | EFT |
| D. | NEFT |
| Answer» B. SWIFT | |
| 15. |
In India , RTGS has been implemented on --------- . |
| A. | 26 March 2004 |
| B. | 26 March 1998 |
| C. | 26 March 1994 |
| D. | 26 March 2002 |
| Answer» A. 26 March 2004 | |
| 16. |
-------------is a funds transfer mechanism where account to another bank account is real time. |
| A. | NEFT |
| B. | EFT |
| C. | ECS |
| D. | RTGS |
| Answer» D. RTGS | |
| 17. |
MICR is a------------------digital code. |
| A. | 9 |
| B. | 11 |
| C. | 7 |
| D. | 13 |
| Answer» A. 9 | |
| 18. |
CTS was introduced RBI in-------. |
| A. | February 1995 |
| B. | January 2006 |
| C. | July 2004 |
| D. | February 2008 |
| Answer» D. February 2008 | |
| 19. |
------------------------ Conversion of physical cheque into electronic form for transmission to the paying bank. |
| A. | CTS |
| B. | ECS |
| C. | RTGS |
| D. | None of the above |
| Answer» A. CTS | |
| 20. |
CORE stands for---------------- . |
| A. | Central operations of Exchange |
| B. | Centralized Online Real time Exchange |
| C. | Challenge of Online Real time Exchange |
| D. | Centralized Online Real time Efficiency |
| Answer» B. Centralized Online Real time Exchange | |
| 21. |
Banking services that increasingly rest on technology and communication system is popularly known as ---------------. |
| A. | Hi-tech banking |
| B. | Internet banking |
| C. | Mobile banking |
| D. | All the above |
| Answer» A. Hi-tech banking | |
| 22. |
----------- is also called Virtual Banking or anywhere banking. |
| A. | Hi-tech banking |
| B. | Off shore banking |
| C. | Internet banking |
| D. | None of the above |
| Answer» C. Internet banking | |
| 23. |
Deposit are secondary or derived from the primary deposits is known as-------------. |
| A. | Credit creation |
| B. | Multiple credit creation |
| C. | Single credit creation |
| D. | Derivative deposit |
| Answer» D. Derivative deposit | |
| 24. |
The Govt. delegates the right of--------------to the central bank. |
| A. | Printing currency note |
| B. | Coins |
| C. | One Rupee note |
| D. | All of these |
| Answer» A. Printing currency note | |
| 25. |
The deposit balances kept by all commercial banks with the central bank are known as---------. |
| A. | Earning per share |
| B. | Reserve |
| C. | Cash reserve |
| D. | General reserve |
| Answer» C. Cash reserve | |
| 26. |
----------lender of last resort. |
| A. | Central Bank |
| B. | Scheduled Bank |
| C. | Commercial Bank |
| D. | None of these |
| Answer» A. Central Bank | |
| 27. |
When customer offers immovable property like land and building as security for a loan, charge thereon is created by means of--------------. |
| A. | Pledge |
| B. | Hypothecation |
| C. | Mortgage |
| D. | None of these |
| Answer» C. Mortgage | |
| 28. |
The banking Ombudsman scheme was first introduced in-----------. |
| A. | June 1994 |
| B. | June 1995 |
| C. | September 1998 |
| D. | June 2002 |
| Answer» B. June 1995 | |
| 29. |
--------------is a quasi judicial authority appointed by the RBI to redress customer complaints against certain deficiency in banking services. |
| A. | Banking Ombudsman |
| B. | Consumer redressal |
| C. | Adjudicating authority |
| D. | None of these |
| Answer» A. Banking Ombudsman | |
| 30. |
To constitute a -----------there must be some recognizable course or habit of dealing in the regular banking business. |
| A. | Banker |
| B. | Customer |
| C. | Creditor |
| D. | Debtor |
| Answer» B. Customer | |
| 31. |
A fixed deposit is meant for those investors who want to deposit a ----------- of money for a fixed deposit. |
| A. | Small amount |
| B. | Interval |
| C. | Lump sum |
| D. | Maturity |
| Answer» C. Lump sum | |
| 32. |
Banks maintain customer’s a/c both for ----------- and -------------. |
| A. | Loan and payment |
| B. | Deposits and loans |
| C. | Loans and interest |
| D. | None of these |
| Answer» B. Deposits and loans | |
| 33. |
--------------are running a/c with unlimited operational facilities. |
| A. | Demand deposit a/c |
| B. | Cumulative deposit a/c |
| C. | Savings a/c |
| D. | Time deposit a/c |
| Answer» A. Demand deposit a/c | |
| 34. |
Current a/c are also called-------------. |
| A. | Savings a/c |
| B. | Time deposit a/c |
| C. | Demand deposit a/c |
| D. | Term deposit a/c |
| Answer» C. Demand deposit a/c | |
| 35. |
The minimum period for which a commercial bank can accept term deposit is ----------. |
| A. | 8 days |
| B. | 7 days |
| C. | 30 days |
| D. | 15 days |
| Answer» B. 7 days | |
| 36. |
Interest on fixed deposit is compounded-------------. |
| A. | Monthly |
| B. | Half yearly |
| C. | Quarterly |
| D. | Yearly basis |
| Answer» C. Quarterly | |
| 37. |
The minimum investment of recurring deposit varies---------. |
| A. | 10000 |
| B. | 1000 |
| C. | 100 |
| D. | 25000 |
| Answer» C. 100 | |
| 38. |
----------a/c is opened by NRIs in Indian Banks |
| A. | NRO |
| B. | NRI |
| C. | NRE |
| D. | RFC |
| Answer» C. NRE | |
| 39. |
------------ is an anti money laundering measure specified in the prevention of money laundering act 2002. |
| A. | SAA |
| B. | FCNR |
| C. | KYC |
| D. | NRE |
| Answer» C. KYC | |
| 40. |
A cheque is-------------------. |
| A. | Instrument |
| B. | Negotiable instrument |
| C. | Transferred instrument |
| D. | None of these |
| Answer» B. Negotiable instrument | |
| 41. |
As per the Act Negotiable instrument means-------- |
| A. | Document |
| B. | Transferred instrument |
| C. | Exchange instrument |
| D. | Promissory note |
| Answer» A. Document | |
| 42. |
Bill of exchange is a------------ |
| A. | Printed form |
| B. | Crossing |
| C. | Need not be a printed form |
| D. | Conditional order |
| Answer» C. Need not be a printed form | |
| 43. |
---------cheque is easily transferred from one person to another by mere delivery |
| A. | Open cheque |
| B. | Bearer cheque |
| C. | Order cheque |
| D. | Stale cheque |
| Answer» B. Bearer cheque | |
| 44. |
The payees name is written on the cheque is called-----------. |
| A. | Multivalued cheque |
| B. | Open cheque |
| C. | Crossed cheque |
| D. | Order cheque |
| Answer» D. Order cheque | |
| 45. |
-----------cheque cannot be transferred from one person to another person by mere delivery. |
| A. | Open cheque |
| B. | Crossed cheque |
| C. | Order cheque |
| D. | Stale cheque |
| Answer» C. Order cheque | |
| 46. |
A cheque can be crossed by drawing two transverse parallel lines through top left corner of cheque is called -------------. |
| A. | General crossing |
| B. | Special crossing |
| C. | Crossed cheque |
| D. | Post dated cheque |
| Answer» C. Crossed cheque | |
| 47. |
If a cheque is torn into two or more pieces and presented for payment is called a------------- |
| A. | Mixed cheque |
| B. | Mutilated cheque |
| C. | Group cheque |
| D. | Anyi-dated cheque |
| Answer» B. Mutilated cheque | |
| 48. |
Cheque in which the drawer mentions the date earlier to the date of presenting it for payment is called ----------- |
| A. | Anti-dated cheque |
| B. | Crossed cheque |
| C. | Post dated cheque |
| D. | None of these |
| Answer» A. Anti-dated cheque | |
| 49. |
If a cheque has bears a date which is yet to come is termed as a |
| A. | Post dated cheque |
| B. | Anti-date cheque |
| C. | Marketting cheque |
| D. | Stale cheque |
| Answer» A. Post dated cheque | |
| 50. |
-------------- is a person who became the possessor or payee of a negotiable instrument for a consideration. |
| A. | Holder |
| B. | Electronic cheque |
| C. | Holder in due course |
| D. | Holder of the instrument |
| Answer» C. Holder in due course | |
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