MCQS on Banking and Insurance (Part-2)

 21) Banking services that increasingly rest on technology and communication system is popularly known as ---------------. 

a) Hi-tech banking 

b) Internet banking 

c) Mobile banking 

d) All the above 

22) ----------- is also called Virtual Banking or anywhere banking. 

a) Hi-tech banking 

b) Off shore banking 

c) Internet banking 

d) None of the above 

23) Deposit are secondary or derived from the primary deposits is known as-------------. 

a) Credit creation 

b) Multiple credit creation 

c) Single credit creation

 d) Derivative deposit 

24) The Govt. delegates the right of--------------to the central bank. 

a) Printing currency note 

b) Coins 

c) One Rupee note 

d) All of these 

25) The deposit balances kept by all commercial banks with the central bank are known as---------. 

a) Earning per share 

b) Reserve 

c) Cash reserve

 d) General reserve 

26) ----------lender of last resort.

 a) Central Bank 

b) Scheduled Bank

 c) Commercial Bank

 d) None of these 

27) When customer offers immovable property like land and building as security for a loan, charge thereon is created by means of--------------. 

a) Pledge 

b) Hypothecation 

c) Mortgage 

d) None of these 

28) The banking Ombudsman scheme was first introduced in-----------. 

a) June 1994 

b) June 1995 

c) September 1998 

d) June 2002 

29) --------------is a quasi judicial authority appointed by the RBI to redress customer complaints against certain deficiency in banking services. 

 a) Banking Ombudsman 

b) Consumer redressal 

 c) Adjudicating authority 

d) None of these 

30) To constitute a -----------there must be some recognizable course or habit of dealing in the regular banking business. 

a) Banker 

b) Customer

 c) Creditor

 d) Debtor

 31) A fixed deposit is meant for those investors who want to deposit a ----------- of money for a fixed deposit. 

a) Small amount

 b) Interval 

c) Lump sum 

d) Maturity 

32) Banks maintain customer’s a/c both for ----------- and -------------. 

a) Loan and payment 

b) Deposits and loans 

c) Loans and interest

 d) None of these 

33) --------------are running a/c with unlimited operational facilities. 

a) Demand deposit a/c 

b) Cumulative deposit a/c 

c) Savings a/c 

d) Time deposit a/c 

34) Current a/c are also called-------------. 

a) Savings a/c 

b) Time deposit a/c 

c) Demand deposit a/c 

d) Term deposit a/c 

35) The minimum period for which a commercial bank can accept term deposit is ----------. 

a) 8 days 

b) 7 days 

c) 30 days 

d) 15 days 

36) Interest on fixed deposit is compounded-------------.

 a) Monthly 

b) Half yearly 

c) Quarterly 

d) Yearly basis 

37) The minimum investment of recurring deposit varies---------. 

a) 10000 

b) 1000 

c) 100 

d) 25000 

38) ----------a/c is opened by NRIs in Indian Banks 

a) NRO 

b) NRI 

c) NRE 

d) RFC

 39) ------------ is an anti money laundering measure specified in the prevention of money laundering act 2002. 

a) SAA 

b) FCNR 

c) KYC 

d) NRE 

40) A cheque is-------------------.

 a) Instrument 

b) Negotiable instrument 

c) Transferred instrument 

d) None of thes