IBPS Clerk Mains: Banking Awareness Quiz

 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 advice the payee to contact purchaser of the draft

       b) Not act on the request

       c) Stop payment

       d) Performs no action

       e) None of the above

 2.       Mutual funds are required to be registered with:

       a) AMFI

       b) SEBI

       c) IBA

       d) RBI

       e) NABARD

 3.       The expansion of BIFR, in the context of the Indian Industry is:

        a) Board for Industrial and Financial Reconstruction

        b) Bureau for Industrial and Financial Reconstruction

        c) Board for Investment and Financial Reconstruction

        d) Bureau for Investment and Financial Reconstruction

        e) None of these

 4.       Usually, the validity period of an Income Tax Refund Order is:

        a) 1 month

        b) 2 months

        c) 3 months

        d) 6 months

        e) 4 months

 5.       Which of the following is true about "White Card"?

        a) It is related to companies producing milk products

        b) It does not carry on its face, the brand of the issuer

        c) It is meant to covert blank money into the economy

        d) It is a card that provides white money

        e) None of these

 6.       First bank in India to launch its interactive banking service through Dish TV:

        a) HSBC

        b) ICICI Bank

        c) HDFC Bank

        d) Axis Bank

        e) None of these

  7.       First Indian Governor of the RBI:

        a) C.D. Deshmukh

        b) Sachindra Ray

        c) S. Mukherjee

        d) D.I.G. Patel

        e) None of the above

  8.       CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) has been set up on the  recommendations of:

       a) Narashimham Committee

       b) Ghosh Committee

       c) Chore Committee

       d) Kapoor Committee

       e) Krishna Committee

 9.       The primary relationship between the banker and the customer is that of:

        a) Trustee and beneficiary

        b) Debtor and Creditor

        c) Principal and agent

       d) Lesser and lessee

       e) None of these

 10.   A debt becomes time-barred after:

       a) One year

       b) Two and a half year

       c) Three years

 d) Five years
 e) Six years

 11.   In the matter of handling bills of exchange for collection, the relationship between customer and  the bank is:

a) Trustee and the beneficiary
b) Principal and agent
c) Bailor and bailee
d) All of the above
e) None of the above

 12.   Hypothecation is:

a) A transaction of conditional sale
b) A legal transaction whereby goods may be made available as security for a debt
c) Transfer of ownership by the borrower to the lender
d) Either a or b
e) None of the above

 13.   Payment of a cheque may be countermanded by the ___

a) Payee
b) Drawer
c) True owner
d) Drawee
e) None of these

 14.   Invoice is a:

a) Accounting document
b) Legal document
c) Commercial document
d) All of the above
e) None of the above

 15.   The biggest international financial centre in the world:

a) Frankfurt
b) Geneva
c) London
d) New York
e) Paris

  

Answers:

1. a	2. b	3. a
4. c	5. b	6. c
7. a	8. d	9. b
10. c	11. b	12. b
13. b	14. c	15. c