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IBPS PO Mains : Expected Banking Awareness Questions

Published on Wednesday, October 21, 2015
banking awareness
Q1. Accounts are allowed to be operated by cheques in respect of ______:
a) both saving bank accounts and fixed deposit accounts
b) saving bank accounts and current accounts
c) both savings bank accounts and loan accounts
d) both savings bank accounts and cash accounts only
e) both current accounts and fixed deposit accounts


Q2. Fixed Deposits and recurring deposits are :
a) repayable after an agreed period
b) repayable on demand
c) not repayable
d) repayable after death of depositors 
e) repayable on demand or after an agreed period as per bank's choice 


Q3. The usual deposit accounts of bank are:
a) Current accounts, Electricity Accounts and Insurance Premium accounts
b) Current Accounts, Post Office Savings Bank Accounts and Term Deposit Accounts
c) Loan Accounts, Current Accounts, Savings Bank Accounts and Term Deposit Accounts
d) Current Accounts, Savings Bank Accounts and Term Deposit Accounts
e) Current Bill Accounts and Term Deposit Accounts


Q4. Interest payable on Savings Bank Accounts is:
a) not regulated by RBI
b) regulated by State Governments
c) regulated by Central Government
d) regulated by RBI
e) regulated by Finance Minister 
Prime authority to regulate the interest payable on Savings Accounts is in the hands of RBI only.
Q5. Which among the following is correct statement?
a) State Bank of India is the sole authority to issue and manage currency in India
b) A nationalized banks is the sole authority to issue and manage currency in India
c) A cooperative bank is the sole authority to issue and manage currency in India
d) RBI is the sole authority to issue and manage currency in India
e) None of The Above 

Q6.  Which of the following is correct statement?
a) Normally no interest is paid on current deposit accounts
b) Interest is paid on current accounts at the same rate as term deposit accounts
c) The rate of interest on current account and savings account are the same.
d) No Interest is paid on any deposit by the bank
e) Savings Deposits are the same as current deposits

Q7. Mortgage is a:
a) security on movable property for a loan given by a bank
b) security on immovable property for a loan given by a bank
c) concession on immovable property for a loan given by a bank
d) facility on immovable property for a loan given by a bank
e) security on immovable property for a deposit received by a bank


Q8. Which among the following is known as cross selling by banks?
A) Sale of a debit card to a credit card holder
B) Sale of Insurance policy to a depositor
C) Issuance of Cash against Cheque presented by a third party

a) Only A
b) Only B
c) Only C
d) Both A and C
e) All are Correct

Q9. Financial Inclusion means provision of:
a) financial service namely payments, remittances, savings, loans and insurance at affordable cost to person not yet given the same
b) ration at affordable cost to persons not yet given the same
c) house at affordable cost to persons not yet given the same
d) food at affordable cost to persons not yet given the same
e) education at affordable cost to persons not yet given the same 


Q10. Which of the following types of  accounts are known as 'Demat Accounts'?
a) Accounts which are Zero Balance Accounts
b) Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there
c) Accounts in which shares of various companies are traded in electronic form
d) Accounts which are operated through internet banking facility  
e) None of The Above 


Q11. NEFT means:
a) National Electronic Funds Transfer System 
b) Negotiated Efficient Fund Transfer System
c) National Efficient Fund Transfer Solution
d) Non Effective Fund Transfer System
e) Negotiated Electronic Foreign Transfer System 

Q12. Distribution of insurance products and insurance policies by banks as corporate agents is known as:
a) General Insurance
b) Non - Life Insurance
c) Bancassurance 
d) Insurance Banking 
e) Deposit Insurance 


Q13. Interest on savings bank account is now calculated by banks on:
a) minimum balance during the month
b) minimum balance from 7th to last day of the month
c) minimum balance from 10th to last day of the month
d) maximum balance during the month
e) daily product basis


Q14. Largest Shareholder (in percentage shareholding) of a nationalized bank is:
a) Reserve Bank of India
b) NABARD
c) LIC
d) Government of India
e) IBA


Q15. When the rate of inflation increases:
a) purchasing power of money increases 
b) purchasing power of money decreases 
c) value of money increase
d) purchasing power of money remains unaffected 
e) amount of money in circulation decreases


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