Monday, 5 June 2017

Banking Awareness Questions for All Bank Exams 2017

Q1. _______ is a deposit account provided by a bank or other financial institutions for individuals to save money and earn the modest interest for that money held in the account.
(a) Fixed Deposit Account
(b) Savings Bank Account
(c) Recurring Account
(d) Current Account
(e) None of the given options is true

Q2. Which among the following bank is the first bank to launch the Mudra Card based on the RuPay platform?
(a) SBI
(b) Corporation Bank
(c) Vijaya Bank
(d) PNB
(e) HDFC Bank

Q3. ______________ in partnership with Visa launched India’s first co-branded e-commerce credit card.
(a) Flipkart and ICICI Bank
(b) Snapdeal and ICICI Bank
(c) Flipkart and HDFC Bank
(d) Snapdeal and HDFC Bank
(e) Flipkart and Axis Bank

Q4. ____________ is a product to provide a person with an opportunity to build up saving through regular monthly deposits of fixed sum over a period of time.
(a) Fixed Deposit Account
(b) Savings Bank Account
(c) Recurring Deposit Account
(d) Current Account
(e) None of the given options is true

Q5. World’s first Bank Agnostic Instant Funds Transfer Platform using Facebook launched by-
(a) ICICI Bank
(b) Kotak Mahindra Bank
(c) Indusind Bank
(d) Central Bank
(e) HDFC Bank

Q6. _________ account is opened by the investor while registering with an investment broker.
(a) Fixed Deposit Account
(b) Savings Bank Account
(c) Recurring Account
(d) Demat Account
(e) None of the given options is true

Q7. Which of the following Bank launches India’s first Mobile ATM?
(a) HDFC Bank
(b) Axis Bank
(c) ICICI Bank
(d) SBI
(e) Bank of Baroda

Q8. World’s first Bitcoin ATM located in-
(a) US
(b) Brazil
(c) Canada
(d) UK
(e) Japan

Q9. _______ is a financial market in which share prices are rising or expected to rise.
(a) Bear Market
(b) Bull Market
(c) Pig Market
(d) High Market
(e) None of the given options is true

Q10. Who was known as the “Father of Modern Economics”?
(a) Amartya Sen
(b) Karl Marx
(c) Adam Smith
(d) George Loewenstein
(e) None of the given options is true

Q11. The availability of cash and other cash-like marketable instruments that are useful in purchases and investments are commonly known as............?
(a) Liquidity
(b) Credit
(c) Marketability
(d) Repo Rate 
(e) Market price

Q12. Which was the first Indian company listed in National Association of Securities Dealers Automated Quotation System (NASDAQ)?
(a) TCS
(b) HCL
(c) Infosys
(d) Reliance
(e) Wipro

Q13. Special Drawing Rights (SDR) are supplementary foreign exchange reserve assets defined and maintained by-
(a) Asian Development Bank (ADB)
(b) Reserve Bank of India (RBI)
(c) World Bank (WB)
(d) International Monetary Fund (IMF)
(e) Asian Infrastructure Investment Bank (AIIB)

Q14. The Imperial Bank of India was renamed as?
(a) Reserve Bank of India
(b) IDBI
(c) Union Bank of India
(d) State Bank of India
(e) Axis Bank

Q15. SBI Day is observed on-
(a) April 1
(b) May 1
(c) June 5
(d) July 1
(e) August 1

Solutions

S1. Ans.(b)
Sol. A savings account is an account maintained by a bank or other financial institutions for individuals to save money and earn interest on the cash held in the account.

S2. Ans.(b)
Sol. Corporation Bank is the first bank to launch the Mudra Card based on the RuPay platform under the Pradhan Mantri MUDRA Yojana (PMMY).

S3. Ans.(d)
Sol. Snapdeal and HDFC Bank in partnership with Visa launched the India’s first co-branded e-commerce credit card.

S4. Ans.(c)
Sol. Recurring Deposit is a special kind of Term Deposit offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit.

S5. Ans.(b)
Sol. Kotak Mahindra Bank launched KayPay – World’s First Bank Agnostic Instant Funds Transfer Platform using Facebook. Millions of bank account holders can transfer money to each other at any hour of the day or night, without needing net banking, or be knowing various bank account related details of the payee.

S6. Ans.(d)
Sol. DEMAT or De-materialized Account refers to a deposit made at an Indian financial institution that can be used for investing in shares of stocks and other financial assets.Securities are held electronically in a DEMAT Account, thereby eliminating the need for physical paper certificates.

S7. Ans.(c)
Sol. India’s largest private sector bank, ICICI launched the “ATM on Wheels” country first Mobile ATM, in Mumbai. It was connected to the bank through the GPRS technology.

S8. Ans.(c)
Sol. The world’s first-ever Bitcoin ATM opened in Vancouver, Canada. It enables Bitcoin owners to exchange the digital currency for cash, and vice versa. Bitcoin is a digital currency also called crypto-currency that is not backed by any country’s central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.

S9. Ans.(b)
Sol. A bull market is a financial market of a group of securities in which prices are rising or are expected to rise. It means the economy is growing. The term “bull market” is most often used to refer to the stock market, but can be applied to anything that is traded, such as bonds, currencies and commodities.

S10. Ans.(c)
Sol. Adam Smith was an 18th-century philosopher renowned as the father of modern economics, and a major proponent of laissez-faire economic policies.

S11. Ans.(a)
Sol. Liquidity is the term used to describe how easy it is to convert assets to cash.

S12. Ans.(c)
Sol. NASDAQ stands for the National Association of Securities Dealers Automated Quotations. It is an online trading system of America where national and international companies are registered. The first Indian company to be listed at NASDAQ was Infosys, followed by Satyam Infoway, Reliance, Wipro, ICICI etc.

S13. Ans.(d)
Sol. The Special Drawing Right (SDR) is an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries.

S14. Ans.(d)
Sol. Imperial Bank of India (IBI), the oldest and the largest commercial bank was founded in 1921 and was subsequently transformed into State Bank of India in 1955.

S15. Ans.(d)
Sol. The day is celebrated every year on July 1st. On this day, July 1, 1955, the Imperial Bank of India was reconstituted by an Act of Parliament to create State Bank of India to perform the functions of a commercial bank.

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