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Banking Awareness Quiz SET – 29

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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. Export of services like shipping and insurance which can earn foreign exchange without the transfer of goods from one country to another is known as
A. Invisible Export
B. Visible Export
C. Open export
D. Closed export

A. Invisible Export
Explanation:Invisible Export are like tourism, banking, foreign investments, private transfers, and insurance. So basically, it’s the trading of services dealing with the exchange of currency from one nation to another. 


2. By opening and investing in the Tax Saver Deposit Account Scheme in a bank, a customer would get benefit under___________
A. Excise Duty
B. Customs Duty
C. Sales Tax
D. Income Tax
D. Income Tax
Explanation: Under section 80C of Income Tax Act,1991 By opening and investing in the Tax Saver Deposit Account Scheme in a bank, a customer would get benefit under Income Tax  


3. This organisation is made for empowering Micro, Small and Medium enterprises in India?
A. ECGC
B. RBI
C. RRB
D. SIDBI
D. SIDBI
Explanation: It is aimed to aid the growth and development of MSME in India.


4. Bancassurance can be sold to
A. Insurance Agents
B. Insurance companies
C. Banks
D. All existing and prospective bank customers
D. All existing and prospective bank customers
Explanation: Bancassurance means selling insurance product through banks. Bank and insurance company come up in a partnership where the bank sells the tied insurance company’s insurance products to its clients.


5. Savings account with zero balance can be opened for
A. Students
B. BPL
C. With respect to Bank’s policies
D. Under Financial Inclusion scheme
D. Under Financial Inclusion scheme
Explanation:Zero balance Saving Account – so your monthly average balance requirement is nil


6. This is the amount of capital a bank or other financial institution has to hold as required by its financial regulator.
A. CRR
B. CAR
C. CRA
D. None of these
B. CAR
Explanation:Capital Adequacy Ratio (CAR)is a bank’s ability to absorb losses by calculating the ratio of capital to risk.


7. The cheque having a date subsequent to the date on which it is drawn is known as
A. Post-dated cheque
B. Pre-dated cheque
C. Stale Cheque
D. Anti-dated cheque
A. Post-dated cheque
Explanation:A post-dated cheque is a cheque written by the drawer for a date in the future.


8. These are financial instruments used by the investors that are not registered with the SEBI to invest in Indian securities.
A. Participatory notes
B. Promissory Notes
C. Treasury Bills
D. None of these
A. Participatory notes
Explanation:It contains an unconditional promise to pay a certain sum to the order of a specifically named person or to bearer


9. It is the extension of very small loans to the unemployed, to poor entrepreneurs and to others living in poverty who are not considered bankable.
A. Macro Credit
B. Medium Credit
C. Micro Credit
D. None of these
C. Micro Credit
Explanation:A small financial loan made to poverty-stricken individuals seeking to start their own business.


10. These are the lowest risk category instruments for the short term. RBI issues them at a prefixed day and for a fixed amount.
A. Commercial Bills
B. Certificate of deposits
C. Letter of Credit
D. Treasury Bills
D. Treasury Bills
Explanation:RBI issues T-Bills for three different maturities: 91 days, 182 days and 364 days. The 91 day T-Bills are issued on weekly auction basis while 182 day T-Bill auction is held on Wednesday preceding Non-reporting Friday and 364 day T-Bill auction on Wednesday preceding the Reporting Friday.