Banking Awareness Quiz – Set 162

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. The headquarters of Asian Clearing Union(ACU) is ______
   A. Tehran, Iran
   B. Baghdad, Iraq
   C. Male, Maldives
   D. Dhaka, Bangladesh
   E. None of these
   
   Answer & Explanation

   A. Tehran, Iran
   Explanation:
   The headquarters of Asian Clearing Union(ACU) is Tehran, Iran.
   
   
2. Which of the following is not a member of ACU?
   A. Bhutan
   B. Singapore
   C. Maldives
   D. Bangladesh
   E. None of these
   
   Answer & Explanation

   B. Singapore
   Explanation:
   The Central Banks and the Monetary Authorities of Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are currently the members of the ACU.
   
   
3. The maximum value that can be stored in any prepaid card (issued by banks and authorised non-bank entities) at any point of time is ________
   A. Rs. 40,000
   B. Rs. 25,000
   C. Rs. 20,000
   D. Rs. 50,000
   E. None of these
   
   Answer & Explanation

   D. Rs. 50,000
   Explanation:
   The maximum value that can be stored in any prepaid card (issued by banks and authorised non-bank entities) at any point of time is Rs.50,000.
   
   
4. Foreign nationals of non-Indian origin resident in India, can acquire immovable property in India except ______ countries.
   A. 5
   B. 8
   C. 12
   D. 10
   E. None of these
   
   Answer & Explanation

   D. 10
   Explanation:
   Foreign nationals of non-Indian origin resident in India, can acquire immovable property in India except 10 countries.
   
   
5. __________ are also issued under the Market Stabilization Scheme(MSS).
   A. Certificate of Deposit
   B. Treasury bills
   C. Commercial Paper
   D. All of these
   E. None of these
   
   Answer & Explanation

   B.Treasury bills
   Explanation:
   Treasury Bills are also issued under the Market Stabilization Scheme(MSS).
   
   
6. CIN stands for __________.
   A. Call Investment Number
   B. Call Identification Number
   C. Credit Identification Number
   D. Credit Investment Number
   E. Challan Identification Number
   
   Answer & Explanation

   E. Challan Identification Number
   Explanation:
   CIN – Challan Identification Number.
   
   
7. How many digits are there in CIN?
   A. 6 digits
   B. 7 digits
   C. 9 digits
   D. 8 digits
   E. None of these
   
   Answer & Explanation

   B. 7 digits
   Explanation:
   CIN Number – 7 digits
   
   
8. Authorised Money Changers (AMCs) are entities, authorised by the Reserve Bank under _____ of the Foreign Exchange Management Act, 1999
   A. Section 15
   B. Section 10
   C. Section 14
   D. Section 20
   E. None of these
   
   Answer & Explanation

   B. Section 10
   Explanation:
   Authorised Money Changers (AMCs) are entities, authorised by the Reserve Bank under section 10 of the Foreign Exchange Management Act, 1999.
   
   
9. The minimum Net Owned Funds (NOF) required for consideration as FFMC for single branch is _________
   A. Rs. 12 lakh
   B. Rs. 10 lakh
   C. Rs. 50 lakh
   D. Rs. 25 lakh
   E. None of these
   
   Answer & Explanation

   D. Rs. 25 lakh
   Explanation: The minimum Net Owned Funds (NOF) required for consideration as FFMC for single branch is Rs. 25 lakh
   
   
10. The minimum Net Owned Funds (NOF) required for consideration as FFMC for multiple branch is ________
    A. Rs. 12 lakh
    B. Rs. 10 lakh
    C. Rs. 50 lakh
    D. Rs. 25 lakh
    E. None of these
    
    Answer & Explanation

    C. Rs. 50 lakh
    Explanation:
    The minimum Net Owned Funds (NOF) required for consideration as FFMC for multiple branch is Rs. 50 lakh.