Financial Awareness Quiz for SBI PO Mains : Part 2

1.Delivery of financial services at an affordable cost to the vast sections of disadvantaged and low income groups is known as
a. Social Banking
b. Financial Inclusion
c. Community Banking
d. Cooperative Banking
e. Collective Banking

2. The pricing strategy that enhances the firm’s relationship with its targeted consumers and involves selling two or more services bundled together is ______
a. Benefit driven pricing
b. Flat rate pricing
c .price bundling
d. efficiency pricing
e. activity -based costing

3.The Directorate General of foreign Trade (DGFT) functions under the _
a. Ministry of Financial Services
b. Ministry of Home Affairs
c. Ministry of Foreign Affairs
d. Ministry of Commerce & Industries
e. Reserve bank of India

4.Which is the first bank to introduce ATM in India in the year 1987 ?
a. SBI
b. Bank of Baroda
c. HSBC
d. NABARD
e.Allahabad Bank

5. Banks were nationalized in 1969 and 1980 for all the following reasons except
a. to take over the control of all the essential services
b. to reduce concentration of wealth and economic power
c. to support the village industries
d. to make more useful use of funds of banks
e. To earn more money

6.If the ATM hardware as well as lease is under the ownership of the service provider, while connectivity and cash handling and management is the responsibility of the sponsor bank, that ATM is called ?
a. Orange ATM
b. Black ATM
c. Blue ATM
d. Brown ATM
e. Green ATM

7. Fixed rate Loan means ______________
a. Loan with a set rate of interest that either does not vary for the entire life of the loan or is fixed for a specified period.
b. Loan with a set rate of interest that change for every 3years and for a specified period as fixed by the bank for the least 15 years
c .Loan never set rate of interest that either does not vary for the entire life of the loan or is fixed for a specified period
d. No loan with a set rate of interest that either does not vary for the entire life of the loan or is fixed for a specified period.
e. Loan with a set rate of interest that change for every 5years and for a specified period as fixed by the bank for the least 10 years

8.A mortised loan means _______________
a. Loan with scheduled periodic payments of both principal and interest
b. Government finance the banks to refinance the local money lenders
c. Giving huge loans to customers by taking the security
d. Not providing cash to customers but providing loan in the form of goods
e. Loan given by RBI

9. Operating profit earned by the company is technically known as _ in the financial term.
a. Gross Profit
b. Net Profit
c. Profit before Interest and Taxes
d. None
e. Profit after providing for depreciation

10.What is the objective of the government behind setting up a Minimum Export Price (MEP) for a particular commodity ?
a. To promote exports
b. To discourage exports
c. To check price rise
d. To provide subsidy to producers
e. Cash Crunch

ANSWERS:

1. Financial Inclusion
2. price bundling
3. Ministry of Commerce & Industries
4. HSBC
5. to take over the control of all the essential services
6. Brown ATM
7. Loan with a set rate of interest that either does not vary for the entire life of the loan or is fixed for a specified period
8. Loan with scheduled periodic payments of both principal and interest
9. Net Profit
10. To check price rise

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