Banking Awareness Quiz – Set 115

Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. Which of the following is owned by the RBI and is operated by CCIL on behalf of the RBI?
   A. RTGS
   B. SSS
   C. NDS-OM
   D. All of these
   E. None of these
   
   Answer & Explanation

   C. NDS-OM
   Explanation:
   Negotiated Dealing System- Order Matching (NDS-OM) is owned by the RBI and is operated by CCIL on behalf of the RBI. NDS-OM is an electronic, screen based, anonymous, order driven trading system for dealing in Government securities which was introduced in 2005.
   
   
2. What are the types of trades that are currently settled through CCIL?
   A. Forex inter-bank Cash
   B. Tom
   C. Spot
   D. Forward USD/INR
   E. All of these
   
   Answer & Explanation

   E. All of these
   Explanation:
   CCIL settles all Forex inter-bank Cash, Tom, Spot and Forward USD/INR transactions.
   
   
   
3. Which of the folllowing is CCIL’s Settlement Member?
   A. American Express Banking Corp.
   B. UBS Switzerland AG
   C. BNP Paribas
   D. Antwerp Diamond Bank NV.
   E. Bank of America N.T. & S.A.
   
   Answer & Explanation

   B. UBS Switzerland AG
   Explanation:
   CCIL provides CLS Settlement through a CLS Settlement Bank namely UBS Switzerland AG.
   
   
4. Continuous Linked Settlement (CLS) Bank offers settlement in ______currencies
   A. 16
   B. 17
   C. 24
   D. 18
   E. 14
   
   Answer & Explanation

   D. 18
   Explanation:
   Continuous Linked Settlement (CLS) Bank offers settlement in 18 currencies
   
   
5. __________ is a web-based application for submission of Collateral Notices and Membership related  data electronically.
   A. e-Notice System
   B. Settlement Guarantee Fund
   C. Exposure Limit
   D. Default Fund
   E. All of these
   
   Answer & Explanation

   A. e-Notice System
   Explanation:
   eNotice System is a web-based application for submission of Collateral Notices and Membership related  data electronically.
   
   
6. ________ are unsecured bonds that cannot be converted to company equity or stock.
   A. Fully Convertible Debentures
   B. Partly Convertible Debentures
   C. Convertible Debentures
   D. Non Convertible Debentures
   E. All of these
   
   Answer & Explanation

   D. Non Convertible Debentures
   Explanation:
   Convertible Debentures are unsecured bonds that cannot be converted to company equity or stock.
   
   
7. Which of the following is/are used in the loan approval processes? 
   A. Credit Information Report (CIR)
   B. CIBIL TransUnion Score
   C. Both(1) and (2)
   D. STRIPS
   E. None of these
   
   Answer & Explanation

   C. Both(A) and (B)
   Explanation:
   The Credit Information Report (CIR) and CIBIL TransUnion Score are used in the loan approval process.
   
   
8. How many digits are there in CIBIL score?
   A. 4
   B. 3
   C. 6
   D. 9
   E. None of these
   
   Answer & Explanation

   B. 3
   Explanation:
   The CIBIL Score is a 3-digit number ranging from 300-900
   
   
9. What is the full form of SEPA?
   A. Simple Euro Payments Area
   B. Simple Euro Payments Attempt
   C. Single Euro Payments Area
   D. Single Euro Payments Attempt
   E. Standard Euro Payments Area
   
   Answer & Explanation

   C. Single Euro Payments Area
   Explanation:
   The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro.
   
   
   
10. DVP III is a settlement process in which settlements are done on _______ after achieving multilateral netting.
    A. Delivery Versus Payment
    B. Payment Versus Payment
    C. Payment Versus Delivery
    D. Payment and Settlement
    E. All of these
    
    Answer & Explanation

    A. Delivery Versus Payment
    Explanation:
    DVP III is a settlement process in which settlements are done on Delivery versus Payment after achieving multilateral netting.