Banking Awareness Quiz With Explanation: Part 9

(1). When were the Basel III guidelines released?
(a) 2008
(b) 2009
(c) 2010
(d) 2011




(2). Which of the following is the apex decision-making body for Employees' Provident Fund Organisation(EPFO)?
(a) Central Board of Trustees(CBT)
(b) EPFO is an independent organization.
(c) Reserve Bank of India
(d) Central Board of Employees' 


(3). Term Money has a maturity period beyond
(a) 7 days
(b) 14 days
(c) 21 days
(d) 1 month 


(4). Which of the following statement is incorrect in context with the Demand Draft(DD)?
(a) A Demand Draft is an order of payment by a bank to another bank.
(b) A Demand Draft cannot be returned because it is a pre-paid instrument.
(c) A Demand Draft is always payable to a specified party.
(d) Demand Draft(DD) is defined in the Negotiable Instrument Act, 1881. 


(5). Universal Account Number(UAN) of Employees' Provident Fund is a
(a) 10 digit number
(b) 12 digit number
(c) 14 digit number
(d) 16 digit number 


(6). Public Debt Management Agency(PDMA) is set up by
(a) Finance Ministry
(b) Reserve Bank of India
(c) EPFO
(d) Monetary Policy Committee (MPC) 


(7). The Reserve Bank of India has extended the timeline for full implementation of the Basel III capital regulations to
(a) March 31, 2019
(b) March 31, 2018
(c) March 31, 2020
(d) March 31, 2021 


(8). Buying and selling government securities and bonds by RBI in order to manage liquidity in the economy
(a) Market operations by Government
(b) Constraint market operations
(c) Closed market operations
(d) Open market operations 


(9). Very Rapid Inflation which is almost impossible to reduce is known as
(a) Galloping Inflation
(b) Creeping Inflation
(c) Hyper Inflation
(d) Suppressed Inflation 


(10). What is the tagline of Bank of Baroda?
(a) India’s International Bank
(b) Where India banks
(c) The name you can bank upon
(d) None is Correct 


EXPLANATION:


(1). Answer Key: (c)
In 2010, Basel III guidelines were released. These guidelines were introduced in response to the financial crisis of 2008.

(2). Answer Key: (a)
EPFO is an organization whose function is to assist the Central Board of Trustees(CBT) which is the apex decision-making body for EPFO.

(3). Answer Key: (b)
Deposits with maturity period beyond 14 days is referred as the term money. The entry restrictions are the same as that of Call/Notice Money, the specified entities not allowed to lend beyond 14 days.

(4). Answer Key: (d)
Demand Draft(DD) is not defined in the N.I. Act, 1881.

(5). Answer Key: (b)
UAN is a 12-digit number allotted to an employee(by EPFO) who is investing in his/her EPF. It does not change with the change in jobs. The UAN is an umbrella for the multiple Member Ids allotted to an individual by different establishments and it also remains same through the lifetime of an employee.

(6). Answer Key: (a)
PDMA is an interim organization set up by Ministry of Finance & will be elevated to a statutory Public Debt Management Agency (PDMA) in about two years. Its core purpose is to permit separation of debt management functions from RBI to PDMA in a steady & seamless manner, without causing market disruptions.

(7). Answer Key: (a)
Earlier, the timeline was in 2018.

(8). Answer Key: (d)
The term ‘open market operations’ stands for the purchase and sale of government securities by the RBI from/to the public and banks on its own account.

(9). Answer Key: (a)
When prices of goods and services rise at a double, triple digit rate per annum, that situation is known as galloping inflation. It is a serious problem for an economy and causes various economic distortions and disturbances.

(10). Answer Key: (a)

Smart Prep Kit for Banking Exams by Ramandeep Singh - Download here


Join 40,000+ readers and get free notes in your email

0 comments:

Post a Comment

Thanks for commenting. It's very difficult to answer every query here, it's better to post your query on IBPSToday.com