Banking and Financial Institutions MCQs

Question 1

As per KYC Policy, the list of terrorist organizations is supplied to the Banks by the:

Accepted Answer

RBI

Answer

Government of India

Answer

CIBIL

Answer

IBA

Question 2

How many types of Guaranteed Minimum pension available under APY?

Accepted Answer

5

Answer

3

Answer

4

Answer

2

Question 3

When is a financial activity considered as the principal business of any entity?

Accepted Answer

Both A and B

Answer

Financial assets constitute more than 50 percent of the total assets

Answer

Income from financial assets constitute more than 50 percent of the gross income

Answer

Income from financial assets constitute more than 40 percent of the gross income

Question 4

Which one among the following has not started Commercial Banking?

Accepted Answer

SIDBI

Answer

IDBI

Answer

ICICI

Answer

UTI

Question 5

. . . . . . . . acquired United Western Bank in a rescue in 2006.

Accepted Answer

IDBI

Answer

ICICI

Answer

AXIS Bank

Answer

SBI

Question 6

Which of the following statement/s is/are correct according to NPS? 1. The age limit to invest in this scheme until 60 years. 2. There is no upper limit. 3. The money will be invested in debt and equity funds based on preference. 4. The returns depend on the performance of the funds. 5. When we retire, we can withdraw 60% of the savings.

Accepted Answer

All of the above

Answer

1, 2, 3 and 4

Answer

3, 4 and 5

Answer

4 and 5

Question 7

Which one of the following statement is incorrect?

Accepted Answer

Insurance is the collective bearing of risk

Answer

The National Securities Depository Limited (NSDL) is the institute, which is built by IDBI

Answer

LIC was founded in 1956

Answer

The IFCI is the first universal bank in India

Question 8

Which of the following function is not performed by Reserve Bank of India?

Accepted Answer

To accept deposits on interest from public

Answer

Issue of currency notes

Answer

Credit control

Answer

Foreign Exchange Management and control

Question 9

Match the following items of List-I with the items of List-II. List-I List-II a. Pension scheme 1. Health Care for family b. Personal security 2. Severance Pay c. Financial assistance 3. Provident Fund d. Allowance 4. Transport Allowance

Accepted Answer

a-3, b-1, c-2, d-4

Answer

a-4, b-2, c-3, d-1

Answer

a-4, b-3, c-2, d-1

Answer

a-3, b-4, c-2, d-1