1. Which committee recommended for privatization of Insurance industry in India?
a) Narisimhan committee
b) Rangarajan Committee
c) Kanna committee
d) Malhotra committee
e) Goiporia Committee
2. The minimum amount of Paid up capital for starting Life insurance business?
a) 25 cr
b) 50 Cr
c) 100 Cr
d) 250 Cr
e) 500 Cr
3. How a bank can enter Insurance sector?
a) Risk Participation
b) Strategic Investment
c) Distribution of insurance policies as Agent
d) a, b & c
e) b & c.
4. Banks can invest in an insurance company 'without participation Basis' Up To ____?
a) 5% of net worth or 25 crs whichever is less
b) 10% of net worth or 50 crs whichever is less
c) Rs 100 crs
d) a,b & c
e) Passed IRDA Test & license as per IRDA Rules.
5. Who is the specified person in case of Life Insurance business?
a) Any person canvassing Life insurance products
b) Person having minimum 3 years experience in Life insurance business
c) An agent of Life insurance corporation of India
d) Person has undergone IRDA training, passed IRDA test and license as per IRDA Rules & nominated by corporate as agent.
e) None.
6. To make operations easier Kisan ATMs are provided with?
a) Regular monitor
b) Touch screen monitor
c) Regular monitor with bio-metric authentication like finger print verification and voice enabled.
d) Touch screen monitor with bio-metric authentication like finger print verification and voice enabled.
e) None of the above
7. What are Essential Requirements for complaint to Banking Ombudsman?
a) Bank has rejected a complaint
b) Complainant has not received any reply within 30 days after the bank has received his representation
c) He is not satisfied with the reply given.
d) One year time has not elapsed from the date of cause of action
e) All the above
8. The NAV of a mutual fund?
a) is always constant
b) Keeps going up at a steady rate
c) Fluctuates with market price movements
d) Cannot go down at all
e) None of the above
9. Who among the following are not eligible to invest in MF?
a) Indian Companies
b) Banks
c) Non Banking Finance Companies
d) Foreign Citizens
e) All the above
10. The most important link between Mutual Fund and Investors is?
a) Government
b) SEBI
c) Fund distributors
d) AMFI
e) None of the above
11. If the subject matter is pending with any other court can a customer lodge complaint with Ombudsman?
a) Yes
b) No
c) With the permission of court
d) All the above
e) None
12. Nomination facility in Bank is available in the following accounts:?
a) Cash credit, Term loans
b) Secured overdraft accounts
c) Deposits, safe custody and Safe deposit locker
d) Only a&b
e) All the above
13. A balance sheet gives two main groups of figures, the?
a) Owners' equity and shareholders' funds
b) Assets and liabilities
c) Profits and total finance employed
d) Big and small
e) None of these
14. The electronic Cheque is defined in?
a) IT Act
b) NI Act
c) RBI Act
d) BR Act
e) None of these
15. Even though the cheque is a bill of exchange, it is exempted from stamp duty because:?
a) It is payable on demand and hence exempted from stamp duty
b) RBI has given permission for banks to exempt the cheque from stamp duty
c) NI Act has exempted cheque from stamp duty
d) Banking Regulation Act 1949
e) None of these
16. Crossing applies to:?
a) cheques
b) Bills of exchange
c) Promissoy Notes
d) a,b&c
e) None
17. For General Crossing, two parallel transverse lines are?
a) Required
b) not required
c) it is the option of drawer
d) Branch Manager's discretion
e) None of these
18. Who can cross the cheque?
a) Drawer
b) Payee
c) Holder
d) a or b or c
e) None of these
19. An account payee crossing is a?
a) Direction to collecting banker to collect the cheque only to the payee
b) Direction to the paying banker to pay the cheque only to the payee
c) Direction to both the collecting and paying banker
d) Direction to the payee to take cash from any bank
e) None of these
20. KYC guidelines take into accou-nt the recommendations of an int-ernational Financial Action Task Force (1) on anti money laundering standards (2)on combating fi-nancing of terrorism (3) on mani-pulation of economic indicators?
a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2, 3 all
e) None of the above
21. As per KYC guidelines, the banks cannot have correspondent arrangements with 'Shell Banks'. For this purpose, the 'Shell Bank' means?
a) a bank having no existence but on paper only
b) a bank incorporated outside India and having a branch in India
c) a bank incorporated in a country where it has no existence and it is not regulated by a regulating authority
d) a bank incorporated outside India and banned by UNO to have Operations other than in country of incorporation.
e) None of the above
22 The Ministry of Rural Develop-ment, Government of India has launched National Rural Livelihood Mission (NRLM) by restructuring?
a) SJSY (Swarna Jayanthi Gram Swarojgar Yojna)
b) SJSRY (Swarna Jayanthi Shahari Rojgar Yojna)
c) DRI (Differential Rate of Interest)
d) PMGSY(Pradhan Mantri Gram Sadak Yojna)
e) None of these
23. Domestic banks to deposit in RIDF with NABARD, the shortfall in respect of?
a) Agriculture advances target of 18%
b) Overall priority sector target of 40%
c) Self Help Groups
d) both a & b
e) None of these
24. Foreign banks are to deposit in SEDF with SIDBI, the shortfall in respect of?
a) Export advances target of 12%
b) Overall priority sector target of 32%
c) Micro & small enterprises target of 10%
d) All the above
e) None of these
25. Deposit period/interest rate for deposit with RIDF and SEDF are fixed by?
a) NABARD in case of RIDF
b) SIDBI in case of SEDF
c) RBI in both the cases
d) Ministry of Finance
e) None of the above
26. What is the priority sector target for RRBs with reference to their adjusted net bank credit?
a) 32%
b) 40%
c) 60%
d) All the above
e) None of the above
27. Objective of PMEGP is?
(1) To generate employment opportunities in rural and urban areas through self employment ventures (2) To provide continuous employment to artisans and educated unemployed persons. (3) To arrest migration of rural youth to urban areas.
a) 1, 2 and 3 all
b) 1 and 2 only
c) 1 and 3 only
d) 2 and 3 only
e) None of these
28. The SGSY aims at betterment of the rural poor by assisting properly identified families below poverty line in the rural areas .It seeks in particular to improve the lot of poorest of the poor viz?
a) Rural poor with land and Landless labourer
b) Educated unemployed
c) Rural artisans and disabled persons
d) All of these
e) none of these
29. A person assisted under SGSY scheme is known as a?
a) Beneficiary
b) Borrower
c) Swarozgari
d) Loanee
e) None of these
30. Funding Under SJSRY shared between Centre and States in general in the ratio of …?
a) 50:50
b) 80:20
c) 75:25
d) 60:40
e) 30:20
31. Which of the following statement is true about CGTMSE?
a) It is floated by SIDBI & Govt. of India
b) It's coverage is restricted to Micro and Small Enterprises
c) Encourage the Banks to Finance more to all those units who are not capable of offering any Collateral Securities
d) All the above
e) None of these
32. Foreign Exchange Means?
a) It means the claims of residents of one country to the foreign currency payable abroad
b) It includes all deposits, credits, balances payable in any foreign currency
c) It includes Drafts, TCs, LCs and bills of exchange expressed or drawn in Indian currency and payable in foreign exchange
d) It includes Drafts, TCs, LCs or bills of exchange drawn by banks, institutions or persons outside India but payable in Indian currency
e) All the above
Answers
1) d; 2) c; 3) d; 4) b; 5) d; 6) d; 7) e; 8) c; 9) d; 10) c;
11) b; 12) c; 13) b; 14) b; 15) b; 16) a; 17) a; 18) d; 19) a; 20) a;
21) c; 22) a; 23) d; 24) d; 25) c; 26) c; 27) a; 28) d; 29) c; 30) c;
31) d; 32) e.
a) Narisimhan committee
b) Rangarajan Committee
c) Kanna committee
d) Malhotra committee
e) Goiporia Committee
2. The minimum amount of Paid up capital for starting Life insurance business?
a) 25 cr
b) 50 Cr
c) 100 Cr
d) 250 Cr
e) 500 Cr
3. How a bank can enter Insurance sector?
a) Risk Participation
b) Strategic Investment
c) Distribution of insurance policies as Agent
d) a, b & c
e) b & c.
4. Banks can invest in an insurance company 'without participation Basis' Up To ____?
a) 5% of net worth or 25 crs whichever is less
b) 10% of net worth or 50 crs whichever is less
c) Rs 100 crs
d) a,b & c
e) Passed IRDA Test & license as per IRDA Rules.
5. Who is the specified person in case of Life Insurance business?
a) Any person canvassing Life insurance products
b) Person having minimum 3 years experience in Life insurance business
c) An agent of Life insurance corporation of India
d) Person has undergone IRDA training, passed IRDA test and license as per IRDA Rules & nominated by corporate as agent.
e) None.
6. To make operations easier Kisan ATMs are provided with?
a) Regular monitor
b) Touch screen monitor
c) Regular monitor with bio-metric authentication like finger print verification and voice enabled.
d) Touch screen monitor with bio-metric authentication like finger print verification and voice enabled.
e) None of the above
7. What are Essential Requirements for complaint to Banking Ombudsman?
a) Bank has rejected a complaint
b) Complainant has not received any reply within 30 days after the bank has received his representation
c) He is not satisfied with the reply given.
d) One year time has not elapsed from the date of cause of action
e) All the above
8. The NAV of a mutual fund?
a) is always constant
b) Keeps going up at a steady rate
c) Fluctuates with market price movements
d) Cannot go down at all
e) None of the above
9. Who among the following are not eligible to invest in MF?
a) Indian Companies
b) Banks
c) Non Banking Finance Companies
d) Foreign Citizens
e) All the above
10. The most important link between Mutual Fund and Investors is?
a) Government
b) SEBI
c) Fund distributors
d) AMFI
e) None of the above
11. If the subject matter is pending with any other court can a customer lodge complaint with Ombudsman?
a) Yes
b) No
c) With the permission of court
d) All the above
e) None
12. Nomination facility in Bank is available in the following accounts:?
a) Cash credit, Term loans
b) Secured overdraft accounts
c) Deposits, safe custody and Safe deposit locker
d) Only a&b
e) All the above
13. A balance sheet gives two main groups of figures, the?
a) Owners' equity and shareholders' funds
b) Assets and liabilities
c) Profits and total finance employed
d) Big and small
e) None of these
14. The electronic Cheque is defined in?
a) IT Act
b) NI Act
c) RBI Act
d) BR Act
e) None of these
15. Even though the cheque is a bill of exchange, it is exempted from stamp duty because:?
a) It is payable on demand and hence exempted from stamp duty
b) RBI has given permission for banks to exempt the cheque from stamp duty
c) NI Act has exempted cheque from stamp duty
d) Banking Regulation Act 1949
e) None of these
16. Crossing applies to:?
a) cheques
b) Bills of exchange
c) Promissoy Notes
d) a,b&c
e) None
17. For General Crossing, two parallel transverse lines are?
a) Required
b) not required
c) it is the option of drawer
d) Branch Manager's discretion
e) None of these
18. Who can cross the cheque?
a) Drawer
b) Payee
c) Holder
d) a or b or c
e) None of these
19. An account payee crossing is a?
a) Direction to collecting banker to collect the cheque only to the payee
b) Direction to the paying banker to pay the cheque only to the payee
c) Direction to both the collecting and paying banker
d) Direction to the payee to take cash from any bank
e) None of these
20. KYC guidelines take into accou-nt the recommendations of an int-ernational Financial Action Task Force (1) on anti money laundering standards (2)on combating fi-nancing of terrorism (3) on mani-pulation of economic indicators?
a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2, 3 all
e) None of the above
21. As per KYC guidelines, the banks cannot have correspondent arrangements with 'Shell Banks'. For this purpose, the 'Shell Bank' means?
a) a bank having no existence but on paper only
b) a bank incorporated outside India and having a branch in India
c) a bank incorporated in a country where it has no existence and it is not regulated by a regulating authority
d) a bank incorporated outside India and banned by UNO to have Operations other than in country of incorporation.
e) None of the above
22 The Ministry of Rural Develop-ment, Government of India has launched National Rural Livelihood Mission (NRLM) by restructuring?
a) SJSY (Swarna Jayanthi Gram Swarojgar Yojna)
b) SJSRY (Swarna Jayanthi Shahari Rojgar Yojna)
c) DRI (Differential Rate of Interest)
d) PMGSY(Pradhan Mantri Gram Sadak Yojna)
e) None of these
23. Domestic banks to deposit in RIDF with NABARD, the shortfall in respect of?
a) Agriculture advances target of 18%
b) Overall priority sector target of 40%
c) Self Help Groups
d) both a & b
e) None of these
24. Foreign banks are to deposit in SEDF with SIDBI, the shortfall in respect of?
a) Export advances target of 12%
b) Overall priority sector target of 32%
c) Micro & small enterprises target of 10%
d) All the above
e) None of these
25. Deposit period/interest rate for deposit with RIDF and SEDF are fixed by?
a) NABARD in case of RIDF
b) SIDBI in case of SEDF
c) RBI in both the cases
d) Ministry of Finance
e) None of the above
26. What is the priority sector target for RRBs with reference to their adjusted net bank credit?
a) 32%
b) 40%
c) 60%
d) All the above
e) None of the above
27. Objective of PMEGP is?
(1) To generate employment opportunities in rural and urban areas through self employment ventures (2) To provide continuous employment to artisans and educated unemployed persons. (3) To arrest migration of rural youth to urban areas.
a) 1, 2 and 3 all
b) 1 and 2 only
c) 1 and 3 only
d) 2 and 3 only
e) None of these
28. The SGSY aims at betterment of the rural poor by assisting properly identified families below poverty line in the rural areas .It seeks in particular to improve the lot of poorest of the poor viz?
a) Rural poor with land and Landless labourer
b) Educated unemployed
c) Rural artisans and disabled persons
d) All of these
e) none of these
29. A person assisted under SGSY scheme is known as a?
a) Beneficiary
b) Borrower
c) Swarozgari
d) Loanee
e) None of these
30. Funding Under SJSRY shared between Centre and States in general in the ratio of …?
a) 50:50
b) 80:20
c) 75:25
d) 60:40
e) 30:20
31. Which of the following statement is true about CGTMSE?
a) It is floated by SIDBI & Govt. of India
b) It's coverage is restricted to Micro and Small Enterprises
c) Encourage the Banks to Finance more to all those units who are not capable of offering any Collateral Securities
d) All the above
e) None of these
32. Foreign Exchange Means?
a) It means the claims of residents of one country to the foreign currency payable abroad
b) It includes all deposits, credits, balances payable in any foreign currency
c) It includes Drafts, TCs, LCs and bills of exchange expressed or drawn in Indian currency and payable in foreign exchange
d) It includes Drafts, TCs, LCs or bills of exchange drawn by banks, institutions or persons outside India but payable in Indian currency
e) All the above
Answers
1) d; 2) c; 3) d; 4) b; 5) d; 6) d; 7) e; 8) c; 9) d; 10) c;
11) b; 12) c; 13) b; 14) b; 15) b; 16) a; 17) a; 18) d; 19) a; 20) a;
21) c; 22) a; 23) d; 24) d; 25) c; 26) c; 27) a; 28) d; 29) c; 30) c;
31) d; 32) e.
