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Quiz on General Awareness with Special Reference to Banking Industry

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Normally, General Awareness with Special Reference to Banking Industry section consists of 40 questions in IBPS bank Exam. In this post, we are providing you some really important questions of this section along with explanation.

Banking Awareness Quiz

  • 1. Which of the following are the benefits of currency chest? 

    (I) To avoid frequent movement of cash 

    (II)To make payment requirement of the government. 

    (III) To provide exchange facility from one denomination to another 

    (IV)To meet currency requirement of public.

    1. II & IV
    2. I & III
    3. I, III & IV
    4. All of the above
    5. None of the above
    Answer And Explanation
    Answer: Option D
    Explanation:
    Note :To facilitate the distribution of notes and rupee coins, the Reserve Bank has authorised selected branches of banks to establish currency chests. These are actually storehouses where bank notes and rupee coins are stocked on behalf of the Reserve Bank, At present, there are over 4422 currency chests. The currency chest branches are expected to distribute notes and rupee coins to other bank branches in their area of operation. The functions of the currency chests are:
    1. To meet currency requirement of public
    2. To withdraw unfit notes
    3. To provide exchange facility from one denomination to another
    4. To make payment requirement of the Government
    5. To exchange the mutilated notes
    6. To avoid frequent movement of cash apart from having its own chests at certain places, RBI also has arrangements with other banks which are entrusted with custody of the currency notes and coins for the same purpose.

Banking Awareness Quiz 

  • 2.In stock market, there is a term used "chicken market". What does a 'chicken' mean in chicken market?

    1. an investor who earns profit from rising market
    2. an investor who earn less from rising market
    3. an investor who is not much risk taker
    4. an investor who has a deep knowledge of market
    5. None of the above
    Answer And Explanation
    Answer: Option C
    Explanation:
    Note:Chicken market is one of the stock market trends. We mostly know about bearish market, which represents downward trend and bullish market represents upward trend. In chicken market, there is no significant movement of the stock market index. The term chicken is used for an investor who is afraid to take risks.

Banking Awareness Quiz 

  • 3.Many a times, we read in newspaper that banks in india partially implement narrow banking. The feature of narrow bank includes:

    1. Low risk jurisdiction
    2. Lower interest rate paid to depositor
    3. Extremely high liquidity
    4. High risk jurisdictions
    5. None of the above
    Answer And Explanation
    Answer: Option A
    Explanation:
    Note:It involves/ includes low risk jurisdictions.

Banking Awareness Quiz 

  • 4.Which of the following schemes is related exclusively to financial inclusion?

    1. Aam Admi Bima Yojana
    2. Swawlamban
    3. Swabhiman
    4. National Social Assistance Program
    5. None of the above
    Answer And Explanation
    Answer: Option C
    Explanation:
    Note:Swabhiman is a nationwide programme on financial inclusion in which five crore households would be provided access to banking services in banked areas.

Banking Awareness Quiz  

  • 5.As per RBI guidelines, investment in which among the following is the most risk free asset of a bank?

    1. Home Loans
    2. Loan against Jewelry
    3. Venture Capital Investment
    4. Government Approved Securities
    5. None of the above
    Answer And Explanation
    Ans-D( Government approved securities is the most risk free asset of bank..)

Banking Awareness Quiz 

  • 6.Approval of which among the following is required to withdraw money from Consolidated Fund in India?

    1. Parliament
    2. President
    3. Vice-President
    4. Speaker
    5. None of the above
    Answer And Explanation
    Answer: Option A
    Explanation:
    Note:Consolidated Fund is known to be largest fund of Government of India as all revenues received by government like income from railway, taxes, posts, transport etc. are credit to his fund. No money can be withdrawn or deposited in it without prior approval of Parliament.

Banking Awareness Quiz 

  • 7. Who wrote the book "Conversation with Myself"?

    1. Arvind Adiga
    2. Nelson Mandela
    3. Y.V Reddy
    4. Anita Ganeri
    5. Jhumpa Lahiri
    Answer And Explanation
    Answer: Option B
    Explanation:
    Note:Nelson Mandela

Banking Awareness Quiz  

  • 8.Which among the following stock exchanges is India's oldest stock exchange?

    1. BSE
    2. NSE
    3. MCX
    4. KSE
    5. OCTEI
    Answer And Explanation
    Answer: Option A
    Explanation:
    Note: BSE is the oldest stock exchange of Asia. It is the fourth largest stock exchange in Asia and eighth largest in the world. There are over 5034 companies listed on it.

Banking Awareness Quiz 

  • 9. Which of the following organizations publishes the World Investment Report?

    1. World Bank
    2. WTO
    3. IMF
    4. INCTAD
    5. ILO
    Answer And Explanation
    Answer: Option A
    Explanation:
    Note: The World Investment Report has been published annually since 1991 by United Nations Conference on Trade and Development. Each year's Report covers the latest trends in foreign direct investment around the World and analyses in depth one selected topic related to foreign direct investment and development.

Banking Awareness Quiz 

  • 10.World Trade Organization was established at which of the following places?

    1. Washington DC
    2. Bangkok
    3. Geneva
    4. Vienna
    5. New York
    Answer And Explanation
    Answer: Option C
    Explanation:
    Note:The World Trade Organization(WTO) is the only global international organization dealing with the rules of trade between nations. The organization  was officially commenced on 1st January 1995. It was created by Uruguay Round negotiations(1986-94). The Headquarter of WTO is situated at Geneva, Switzerland. It has 159 member countries.

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