Banking & Financial Awareness Quiz – Set 96 – Miscellaneous

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. The Planning Commission in India was constituted in which year?
   A) 1950
   B) 1947
   C) 1952
   D) 1949
   
   View answer

   Option A
   Explanation: The Planning Commission was set up by a Resolution of the Government of India in March 1950
2. Golden Handshake Scheme related to which of the following?
   A) Foreign investment in Indian entities
   B) Investment in public enterprises by private players
   C) Setting up joint ventures
   D) Voluntary retirement
   
   View answer

   Option D
   
3. The net national product (NNP) can be attained by deducting which of the following from the gross national product (GNP)?
   A) Interest
   B) Depreciation
   C) Subsidy
   D) Tax
   
   View answer

   Option B
   Explanation: NNP = Gross National Product – Depreciation
4. Which of the given factors best determines the standard of living in a country?
   A) Poverty rate
   B) National Income
   C) Per capita income
   D) Unemployment rate
   
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   Option C
   
5. The  floating exchange rate can also be called as _______
   A) Fixed exchange rate
   B) Controlled exchange rate
   C) Real exchange rate
   D) Flexible exchange rate
   
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   Option D
   Explanation: A floating exchange rate is a type of exchange-rate regime in which a currency’s value is allowed to fluctuate in response to foreign-exchange market mechanisms.
6. Which among the following is also called as paper gold?
   A) SDR (special drawing rights)
   B) Eurodollar
   C) Petrodollar
   D) GDR (global depositary receipt)
   
   View answer

   Option A
   
7. The surplus reserve held by banks above the prescribed limit set by RBI is known as______
   A) Cash reserve
   B) Excess reserve
   C) Deposit reserve
   D) Monetary reserve
   
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   Option B
   Explanation: In banking, excess reserves are bank reserves in excess of a reserve requirement set by a central bank.
8. The Capital Market Regulator in India is__________
   A) SEBI
   B) RBI
   C) BSE
   D) EXIM
   
   View answer

   Option A
   
9. In India, the government takes Ways and means advances from which of the following?
   A) Public
   B) NABARD
   C) SEBI
   D) RBI
   
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   Option D
   
10. Which among the given options accounts for the highest share for the deficit in the budget?
    A) Current deficit
    B) Revenue deficit
    C) Fiscal deficit
    D) All the above
    
    View answer

    Option C
    Explanation: A fiscal deficit occurs when a government’s total expenditures exceed the revenue that it generates, excluding money from borrowings.

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