Financial Awareness Quiz for bank exams Set - 1

Mentor 4 CA

Dear Readers,

Welcome to Mentor for Current Affairs. Here I am presenting Financial Awareness quiz for upcoming bank exams like IBPS/BOB. Aspirants preparing for those exams can make use of these questions. Please do like my Facebook Page. Thank you.

1. Which of the following carries out “Open Market Operations” (OMO)?

A) Ministry of Finance

B) Fixed Income Money Market Derivatives Association of India (FIMMDAI)

C) National Bank for Agriculture & Rural Development (NABARD)

D) Securities and Exchange Board of India (SEBI)

E) Reserve Bank of India (RBI)

2. The current “Banking Ombudsman Scheme” became operative from ____________

A) 1998

B) 2002

C) 2004

D) 2006

E) 2010

3. Which of the following statement (s) is/are CORRECT in context of “BSBDA- Small Account”?

A) Total credits in BSBDA-Small accounts should not exceed ₹ 1 lakh in a year.

B) Maximum balance in the BSBDA –Small account should not exceed ₹ 50,000 at any time.

C) The total of debits by way of cash withdrawals and transfers will not exceed ₹ 10,000 in a month.

D) Remittances from abroad cannot be credited to BSBDA - Small Accounts without completing normal KYC formalities.

E) All are correct

4. The savings bank account holders can transact a minimum of _______transactions (including both financial and non-financial transactions) free of charge in a month at other bank ATMs in other than 6 metros locations, viz. Mumbai, Delhi, Chennai, Kolkata, Bengaluru, & Hyderabad.

A) 3

B) 5

C) 6

D) 8

E) 10

5. As per RBI guidelines, which of the following category is NOT fall under Priority Sector?

A) Social Infrastructure

B) Export Credit

C) Education

D) Housing

E) Manufacturing sector

6. In the terms of economics, the recession occurring two times with a small gap in between is known as

A) Double Deflation

B) Deflation

C) Deep Recession

D) Double Dip Recession

E) Recession

7. Many Regional Rural Banks are given licence to open branches in small cities and towns. These licences were given by_________

A) Cabinet Committee on Economic Affairs (CCEA)

B) Reserve Bank of India (RBI)

C) National Bank for Agriculture & Rural Development (NABARD)

D) Indian Bankers Association (IBA)

E) Banking Codes & Standards Board of India (BCSBI)

8. Which of the following organization is created especially for providing credit to “SME” in India?

A) NABARD

B) SIDBI

C) IFCI

D) SBI

E) IDBI

9. What is “Forex”?

A) It is buying of foreign currency

B) It is selling of foreign currency

C) It is buying of one currency and selling of another currency

D) It is buying & selling of Gold in Commodity Market

E) It is buying & selling of shares in stock exchanges

10. “IRDA Act” was enacted in which year?

A) 1993

B) 1996

C) 1999

D) 2001

E) 2003

Answers:

1)e   2)d   3)e   4)b   5)e   6)d   7)b   8)b   9)c   10)c