McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Arts in Economics (BA Economics) .
| 1. |
Demand deposit also known as ___________________. |
| A. | current account |
| B. | fixed deposit |
| C. | capital account |
| D. | recurring deposit |
| Answer» A. current account | |
| 2. |
Bank places certain restriction on withdrawal for _______________ deposit. |
| A. | savings deposit |
| B. | demand deposit |
| C. | current account |
| D. | fixed deposit |
| Answer» A. savings deposit | |
| 3. |
______________ is the contribution made by the shareholders of the bank. |
| A. | loans & advances |
| B. | cash in hand |
| C. | bills discounted |
| D. | share capital |
| Answer» D. share capital | |
| 4. |
__________ was originally the home of commercial banking. |
| A. | u.s.a |
| B. | england |
| C. | britain |
| D. | germany |
| Answer» D. germany | |
| 5. |
____________ was initially the home of industrial or investment banking. |
| A. | italy |
| B. | england |
| C. | geneva |
| D. | germany |
| Answer» D. germany | |
| 6. |
The trend in India is towards ___________. |
| A. | mixed banking |
| B. | development banking |
| C. | commercial banking |
| D. | industrial banking |
| Answer» A. mixed banking | |
| 7. |
___________ to ___________ percent of total deposit is kept as cash reserve. |
| A. | 5 to 10 |
| B. | 11 to 15 |
| C. | 8 to 11 |
| D. | 9 to 11 |
| Answer» D. 9 to 11 | |
| 8. |
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 | |
| 9. |
Rediscounting and giving advance the central bank changes interest at a rate which is known as __________ |
| A. | crr |
| B. | slr |
| C. | bank rate |
| D. | credit |
| Answer» C. bank rate | |
| 10. |
The nationalization of 14 commercial banks was on? |
| A. | 19 july, 1969 |
| B. | 15 aug, 1972 |
| C. | 15april, 1980 |
| D. | 19 jan, 1959 |
| Answer» A. 19 july, 1969 | |
| 11. |
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 | |
| 12. |
RBI introduced 14-day intermediate Treasury Bills and 14-day Treasury bills on? |
| A. | 1994 |
| B. | 1997 |
| C. | 1984 |
| D. | 1972 |
| Answer» B. 1997 | |
| 13. |
DIC stands for? |
| A. | deposit investment corporation |
| B. | deposit insurance corporation |
| C. | deposit industrial corporation |
| D. | development corporation of india |
| Answer» C. deposit industrial corporation | |
| 14. |
System of banking is guided by the Islamic Law called? |
| A. | islamic guide |
| B. | islamic banking |
| C. | banking regulation act |
| D. | shariat |
| Answer» D. shariat | |
| 15. |
Money at call and short notice is also known as? |
| A. | capital market |
| B. | inter bank call money market |
| C. | financial system |
| D. | financial call money |
| Answer» B. inter bank call money market | |
| 16. |
The process of credit creation by the banking system as a whole is termed as ? |
| A. | multiple credit creation |
| B. | primary deposit |
| C. | credit creation |
| D. | single bank credit system |
| Answer» A. multiple credit creation | |
| 17. |
The regulator of Indian Money market is? |
| A. | sbi |
| B. | commercial bank |
| C. | rbi |
| D. | sebi |
| Answer» C. rbi | |
| 18. |
The regulator of Indian Capital Market is? |
| A. | sebi |
| B. | sbi |
| C. | rbi |
| D. | commercial bank |
| Answer» A. sebi | |
| 19. |
Bridge Loan is also known as? |
| A. | swing loan |
| B. | term loan |
| C. | demand loan |
| D. | farm loan |
| Answer» A. swing loan | |
| 20. |
182-day Treasury bill was introduced in Indian Money Market in? |
| A. | 19992 |
| B. | 1972 |
| C. | 1987 |
| D. | 1952 |
| Answer» C. 1987 | |
| 21. |
CIBIL stands for? |
| A. | credit information bureau ltd |
| B. | credit information banking india ltd |
| C. | credit investment bureau india ltd |
| D. | credit information bureau india ltd |
| Answer» D. credit information bureau india ltd | |
| 22. |
The value of money received today will be more than a rupee tomorrow is? |
| A. | time value of money |
| B. | present value of money |
| C. | future value of money |
| D. | compound value of money |
| Answer» A. time value of money | |
| 23. |
The interest computed on the principal for the entire period of borrowings? |
| A. | compound interest |
| B. | simple interest |
| C. | flat rate interest |
| D. | floating rate interest |
| Answer» B. simple interest | |
| 24. |
The periodical interval at which interest is added is called? |
| A. | floating period |
| B. | compounding period |
| C. | fixed period |
| D. | periodic payment |
| Answer» B. compounding period | |
| 25. |
________Act offer incentive to attract people to invest in housing property. |
| A. | sales tax |
| B. | income tax act 1961 |
| C. | banking regulations act |
| D. | co-operative societies act |
| Answer» B. income tax act 1961 | |
| 26. |
Loan designed for people who wish to sell the existing home and purchase and purchase another? |
| A. | bridge loan |
| B. | housing loan |
| C. | demand loan |
| D. | personal loan |
| Answer» A. bridge loan | |
| 27. |
The first joint Stock Bank in India? |
| A. | idbi |
| B. | icici |
| C. | imperial bank |
| D. | allahabad bank |
| Answer» C. imperial bank | |
| 28. |
Repayment of an educational loan is deductable u/s_______ of the Income tax Act |
| A. | 70 |
| B. | 80 |
| C. | 60 |
| D. | 90 |
| Answer» B. 80 | |
| 29. |
BPLR means? |
| A. | bench mark prime lending rate |
| B. | bench mark primary money lending rate |
| C. | bench mark primary loan repayment |
| D. | bank primary lending rate |
| Answer» A. bench mark prime lending rate | |
| 30. |
Compound interest is calculated by applying? |
| A. | ci=p(i+r)n-p |
| B. | ci=p(i+r)n |
| C. | ci=pnr |
| D. | ci=p(i+r)(i+r)n |
| Answer» A. ci=p(i+r)n-p | |
| 31. |
If interest is changed on full amount of loan(principal) throughout the entire tenure of the loan is? |
| A. | float rate |
| B. | fixed rate |
| C. | flat rate |
| D. | diminishing rate |
| Answer» C. flat rate | |
| 32. |
The borrower repays his loan by way of fixed monthly installments to the bank is called? |
| A. | equal month installment |
| B. | equally managed |
| C. | equated monthly installment |
| D. | equated money installment |
| Answer» D. equated money installment | |
| 33. |
RBI introduced _________ scheme in 1969? |
| A. | saa |
| B. | village adaptation |
| C. | lead bank |
| D. | dir |
| Answer» C. lead bank | |
| 34. |
________act as a Consortium leader of the banking institutions in the district? |
| A. | lead bank |
| B. | social banking |
| C. | core banking |
| D. | district co-operative bank |
| Answer» A. lead bank | |
| 35. |
Who introduced micro credit system in social banking segment? |
| A. | geoffery growther of prof.d.r gadgil |
| B. | nobel laureate & mohammed yunus |
| C. | n.d thiwari |
| D. | banking regulation act 1949 |
| Answer» B. nobel laureate & mohammed yunus | |
| 36. |
“Buy now and Pay later” is the motto of a ______. |
| A. | atm |
| B. | debit card |
| C. | credit card |
| D. | micr |
| Answer» C. credit card | |
| 37. |
Credit card allow one to buy goods now and pay later called? |
| A. | buying on credit |
| B. | buying on debit |
| C. | cash credit |
| D. | cash payment |
| Answer» B. buying on debit | |
| 38. |
Card issuers, consumers, merchants and payment sever/Service producer are four parties in _________ |
| A. | cheque truncation |
| B. | e -purse |
| C. | debit card |
| D. | eft |
| Answer» B. e -purse | |
| 39. |
Bank all over the world are enter - linked through satellite provided by __________ |
| A. | psam |
| B. | swift |
| C. | eft |
| D. | neft |
| Answer» B. swift | |
| 40. |
EFT is also known as |
| A. | easy fund transfer |
| B. | maintenance fund transfer |
| C. | exchange fund transfer |
| D. | paperless banking |
| Answer» D. paperless banking | |
| 41. |
FIRPS stands for |
| A. | foreign inward remittance payment scheme |
| B. | foreign investment remittance payment scheme |
| C. | foreign inward remittance payment system |
| D. | foreign investment remittance payment system |
| Answer» B. foreign investment remittance payment scheme | |
| 42. |
____________ is a system that facilitates individuals, firms and corporate to electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country. |
| A. | neft |
| B. | eft |
| C. | saa |
| D. | rtgs |
| Answer» A. neft | |
| 43. |
In case of non-credit or delay in credit to the beneficiary account, the NEFT of the respective bank can be contacted to __________ |
| A. | ecs |
| B. | kyc |
| C. | cfc |
| D. | ifsc |
| Answer» C. cfc | |
| 44. |
___________ is an alpha-numeric code that uniquely identifies a bank branch participating NEFT System. |
| A. | ifs |
| B. | ifsc |
| C. | fsc |
| D. | rtgs |
| Answer» B. ifsc | |
| 45. |
IFTP means _________ |
| A. | inter-bank finance settlement process |
| B. | inter-bank fund transfer process |
| C. | inter-bank fund transfer programme |
| D. | inter-bank fund transfer payment |
| Answer» B. inter-bank fund transfer process | |
| 46. |
In RTGS Minimum amount to be remitted is ___________ |
| A. | rs.1,00,000 |
| B. | rs.2,00,000 |
| C. | rs.1,50,000 |
| D. | rs.50,000 |
| Answer» B. rs.2,00,000 | |
| 47. |
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 | |
| 48. |
BACS means ________ |
| A. | bankers automated clearing services |
| B. | bankers automatic clearing system |
| C. | bankers automatic collection service |
| D. | bankers automatic clearance scheme |
| Answer» A. bankers automated clearing services | |
| 49. |
ECS payment ______ code is essential |
| A. | micr |
| B. | rtgs |
| C. | ifsc |
| D. | cts |
| Answer» A. micr | |
| 50. |
MICR is a numeric code that uniquely identifies a bank-branch participating in the ________ scheme. |
| A. | ifsc credit scheme |
| B. | eft credit scheme |
| C. | rtgs credit scheme |
| D. | ecs credit scheme |
| Answer» D. ecs credit scheme | |
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