Banking Awareness Quiz 2016 - Set 4

Hello and welcome to ExamPundit. Here is the 4th Set of Banking Awareness Quiz for Bank and Insurance Exams in 2016.

1. A savings bank account opened with a commercial bank with zero or very minimal balance is known as
1) Savings Bank Ordinary Account
2) Student Savings Bank Account
3) No Frills Account
4) Current Account
5) Call Deposit

2. What does the letter R denote in the abbreviation ‘BR Act’ which controls banking activities in the country?
1) Reformation
2) Regulation
3) Reporting
4) Resolution
5) Ranking

3. Banking sector falls under which of the following sectors?
1) Agricultural Sector
2) Service Sector
3) Manufacturing Sector
4) Industrial Sector
5) Small Scale Sector

4. A savings bank deposit account is one where
1) the deposits are made only once in a year
2) amounts are deposited and are withdrawn as per the requirement of the customers
3) periodical fixed amounts are deposited month wise and withdrawals are allowed after a fixed period
4) the deposits are made once in every month
5) None of these

5. ASBA scheme is related to the purchase of
1) IPO
2) CP
3) CD
4) TCs
5) None of these

6. Mobile banking requires
1) account with a bank with mobile phone linked to inter-bank mobile payment service
2) account with mobile post office
3) account with bank along with mobile phone linked to international mobile payment service
4) account with bank and mobile phone linked to inter-state mobile payment service
5) account with bank along with mobile phone linked to inter-district mobile payment service

7. In a bank, which of the following are the usual types of accounts?
1) Savings accounts, Electricity accounts and Insurance premium accounts
2) Fixed deposits, Post office savings bank accounts and Current deposit accounts
3) Current accounts, Savings bank accounts and Term deposit accounts
4) Loan accounts, Savings bank accounts and Term deposit accounts
5) Current bill accounts and Term deposit accounts

8. When a bank dishonours a cheque it is called
1) settlement of the cheque.
2) withdrawing of the cheque.
3) nullifying of the cheque.
4) truncating of the cheque.
5) return of the unpaid cheque.

9. ‘Sub Prime Lending’, which was the root cause for global meltdown in banks during 2008, means
1) bank finance for non-productive activities
2) bank finance not properly disclosed in its Balance Sheet
3) bank finance in violation of the directives of the central bank
4) bank finance to fictitious entities
5) bank finance which do not qualify for the best market interest rates

10. Asian Clearing Union is headquartered at __________.
1) Jakarta
2) Beijing
3) Tehran
4) Mumbai
5) Tokyo


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