Banking & Financial Awareness Quiz – Set 111

Banking & Financial Awareness Quiz: We have created many quizzes on Banking Awareness and this set is one of them. These questions are most important for banking and insurance exams. The question asked in the Banking Awareness section are based both on static banking and that to current banking in news. These Banking Awareness sets will guide you in all banking exams like IBPS Clerk, IBPS PO, SBI Clerk, SBI PO, RRB Clerk and PO and other exams.  The set will be beneficial for the Banking and financial awareness section of LIC AAO. So attempt all the sets now.

Banking & Financial Awareness Questions

1. What is the maximum limit for investing in the Sovereign Gold Bonds through cash mode?
   A) Rs 20,000
   B) Rs 50,000
   C) Rs 1 lakh
   D) Rs 75,000
   
   View answer

   Option A
   Explanation: Payment can be made through cash (upto ₹ 20000)/cheques/demand draft/electronic fund transfer.
2. A Systemically Important Core Investment Company (CIC-ND-SI) is a Non-Banking Financial Company with asset size of Rs ________ and above
   A) 200 crore
   B) 100 crore
   C) 300 crore
   D) 500 crore
   
   View answer

   Option B
   Explanation: Core Investment Company (CIC) is a non-banking financial company carrying on the business of acquisition of shares and securities and which (a) holds not less than 90 per cent of its net assets in the form of investment in equity shares, preference shares, bonds, debentures, debt or loans in group companies and (b) its investments in the equity shares in group companies constitutes not less than 60 per cent of its net assets as on the date of the last audited balance sheet.
3. What is the service charge levied on Inward transactions made through RTGS?
   A) Rs 25 per transaction
   B) Rs 50 per transaction
   C) Nill
   D) Depends on banks
   
   View answer

   Option C
   Explanation:a) Inward transactions – Free, no charge to be levied.b) Outward transactions – ₹2,00,000/- to 5,00,000/- : not exceeding ₹30/-;
   Above ₹5,00,000/- : not exceeding ₹55/-.
4. The amalgamation of an NBFC ‘A’ with NBFC/ entity ‘B’ requires prior written approval of ________
   A) Ministry of Finance
   B) SEBI
   C) NABARD
   D) RBI
   
   View answer

   Option D
   
5. Which of these loans do not come under the ECB framework?
   A) FCCB loans
   B) FCNR loans
   C) FCEB loans
   D) All comes under ECB framework
   
   View answer

   Option B
   Explanation: Foreign currency loans given domestically by Authorised Dealer Category I banks out of the proceeds of FCNR (B) deposits do not come under the ECB framework.
6. PRAN (Permanent Retirement Account Number) Card is a ________ digit unique number
   A) 12
   B) 9
   C) 15
   D) 11
   
   View answer

   Option A
   Explanation: The PRAN or Permanent Retirement Account Number is a unique 12 digit number that identifies those individuals who have registered themselves under the National Pension Scheme (NPS). 
7. The GST portal gives a unique number called CPIN. What does it stands for?
   A) Customer Portal Identification Number
   B) Company Portal Identification Number
   C) Central Portal Identification Number
   D) Common Portal Identification Number
   
   View answer

   Option D
   
8. What is the maximum limit of composite loan that a bank can sanction to MSME entrepreneurs?
   A) Rs 2 crore
   B) Rs 5 crore
   C) Rs 1 crore
   D) Rs 3 crore
   
   View answer

   Option C
   Explanation: A composite loan limit of Rs.1 crore can be sanctioned by banks to enable the MSME entrepreneurs
9. The International Organisation of Securities Commissions is an association of organisations that regulate the world’s securities and futures markets. Its headquarter is based in which country?
   A) Madrid, Spain
   B) Vienna, Austria
   C) Rome, Italy
   D) London, United Kingdom
   
   View answer

   Option A
   
10. What is the Minimum Average Maturity Period (MAMP) for all ECBs?
    A) 5 years
    B) 3 years
    C) 2 years
    D) 7 years
    
    View answer

    Option B
    Explanation: MAMP will be 3 years for all ECBs. However, for ECB raised from foreign equity holder and utilised for specific purposes, the MAMP would be 5 years. Similarly, for ECB up to USD 50 million per financial year raised by manufacturing sector, which has been given a special dispensation, the MAMP would be 1 year

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