BANKING QUIZ
1. What is an Indian Depository Receipt?
a) An instrument in the form of deposit receipt issued by Indian depositories
b) A deposit account with a Public Sector Bank
c) An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company
d) A depository account with any of Depositories in India
e) None of these
2. What is Call Money?
a) Money borrowed for more than one day but up to 3 days
b) Money borrowed or lent for a day or overnight
c) Money borrowed for more than one day but up to 7 days
d) Money borrowed for more than one day but up to 14 days
e) None of these
3. What is the most powerful tool used by the Reserve Bank of India to control inflation?
a) Raise current supply?
b) Raise interest rates
c) Reduce current supply
d) Reduce interest rates
e) None of these
4. What does crossing of cheques make them?
a) Invalid document
b) Remain the same
c) Ineligible to endorse to a person other than the payee
d) Ineligible to get cash across the bank counter
e) None of these
5. What happens when a bank dishonours a cheque?
a) It is called settlement of the cheque
b) It is called return of the cheque unpaid
c) It is called nullifying of the cheque
d) It is called withdrawing of the cheque
e) None of these
6. Who sets up ‘Base Rate’ for Banks?
a) RBI
b) Interest Rate Commission of India
c) Individual Banks Board
d) None of the above
7. What is a Lease?
a) A rental agreement between owner of a flat/house and the Tenant, whereby the Tenant pays specified amount on specified dates to the owner
b) A legal contract between the owner of an asset and its user, containing many conditions including payment of a specified amount by the user to the Owner for use of the asset
c) Both (a) and (b)
d) None of the above
8. What is Factoring?
a) An easy way of raising capital from a factoring company by small business
b) Selling of account receivables on a contract basis for cash payment to a factor before it is due
c) An arrangement for raising short term money against prepaid expenses
d) A method of discounting of long term bills
e) None of these
9. The full form of RBS is?
a) Risk Based Supervision
b) Rating by System
c) Role Based Supervision
d) Rating Bank Security
10. Which among the following is the First Decentralized ledger currency?
a) BITCOIN
b) LITECOIN
c) NAMECOIN
d) PPCOIN.
