Banking Awareness Quiz – Set 141

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. _________ is a cheque written by the drawer(payer) for a date in the future.
   A. Bearer Cheque
   B. Anti-Dated Cheque
   C. Open Cheque
   D. Post-Dated Cheque
   E. Crossed Cheque
   
   Answer & Explanation

   D. Post-Dated Cheque
   Explanation:
   Post-Dated Cheque is a cheque written by the drawer(payer) for a date in the future.
   
   
2. A date entered on a cheque that is prior to the actual date of occurrence is known as ______
   A. Bearer Cheque
   B. Anti-Dated Cheque
   C. Open Cheque
   D. Post-Dated Cheque
   E. Crossed Cheque
   
   Answer & Explanation

   B. Anti-Dated Cheque
   Explanation:
   A date entered on a cheque that is prior to the actual date of occurrence is known as Anti-Dated Cheque.
   
   
3. When a cheque is not crossed, then it is known as an______.
   A. Bearer Cheque
   B. Order Cheque
   C. Open Cheque
   D. Stale Cheque
   E. Crossed Cheque
   
   Answer & Explanation

   C. Open Cheque
   Explanation:
   When a cheque is not crossed, then it is known as an open cheque.
   
   
4. Which of the following cannot be encashed at the cash counter of a bank but it can only be credited to the payee’s account?
   A. Bearer Cheque
   B. Order Cheque
   C. Open Cheque
   D. Stale Cheque
   E. Crossed Cheque
   
   Answer & Explanation

   E. Crossed Cheque
   Explanation:
   Crossed Cheque cannot be encashed at the cash counter of a bank but it can only be credited to the payee’s account
   
   
5. If a cheque is presented for payment after six months from the date of the cheque it is called ______
   A. Bearer Cheque
   B. Order Cheque
   C. Open Cheque
   D. Stale Cheque
   E. Mutilated Cheque
   
   Answer & Explanation

   D. Stale Cheque
   Explanation:
   If a cheque is presented for payment after six months from the date of the cheque it is called Stale Cheque.
   
   
6. _______ is payable to the person who presents it to the bank for encashment.
   A. Bearer Cheque
   B. Order Cheque
   C. Open Cheque
   D. Stale Cheque
   E. Mutilated Cheque
   
   Answer & Explanation

   A. Bearer Cheque
   Explanation:
   Bearer Cheque is payable to the person who presents it to the bank for encashment.
   
   
7. Which of the following is the largest network of shared Automated Teller Machines (ATMs) in India?
   A. IDBRT
   B. NPCI
   C. NFS
   D. All of these
   E. None of these
   
   Answer & Explanation

   C. NFS
   Explanation:
   NFS is the largest network of shared Automated Teller Machines (ATMs) in India
   
   
8. Which of the following is a banking research institute established in 1996 by Reserve Bank of India (RBI)?
   A. IDBRT
   B. NPCI
   C. NFS
   D. All of these
   E. None of these
   
   Answer & Explanation

   A. IDBRT 
   Explanation:
   IDBRT is a banking research institute established in 1996 by Reserve Bank of India (RBI).
   
   
9. Which of the following is the headquarters of IDBRT?
   A. Bangalore
   B. Hyderabad
   C. Chennai
   D. Mumbai
   E. None of these
   
   Answer & Explanation

   B. Hyderabad
   Explanation:
   The Headquarters of IDBRT is Hyderabad.
   
   
10. _______ is a currency issued by a private entity, a commercial business or a nonprofit enterprise
    A. Reserve Currency
    B. Private Currency
    C. Hard Currency
    D. Soft Currency
    E. None of these
    
    Answer & Explanation

    B. Private Currency
    Explanation:
    Private Currency is a currency issued by a private entity, a commercial business or a nonprofit enterprise