Banking & Financial Awareness Quiz – Set 98 – 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 replacement of actual card details with a unique alternate code is known as________
   A) Tokenisation
   B) Demonstration
   C) Authentication
   D) Manifestation
   
   View answer

   Option A
   Explanation: Tokenisation refers to replacement of actual card details with an alternate code called the “token”, which shall be unique for a combination of card, token requestor and device (referred hereafter as “identified device”).
2. The Micro, Small and Medium Enterprises Development Act was passed in which year?
   A) 2000
   B) 2006
   C) 2014
   D) 2009
   
   View answer

   Option B
   
3. What do you understand by Gross Profit?
   A) Total lending over total borrowing
   B) Net investment over net savings
   C) Net expenditure over net receipt
   D) Total receipt over total expenditure
   
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   Option D
   
4. The taxation is a tool of which of the following?
   A) Fiscal policy
   B) Monetary policy
   C) Wage policy
   D) Price policy
   
   View answer

   Option A
   
5. Which among the following relations is true if exports is equal to imports?
   A) GDP>GNP
   B) GDP=GNP
   C) GDP<GNP
   D) No relation
   
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   Option B
   
6. Identify the short term government securities instrument
   A) Equity Shares
   B) Debenture
   C) Treasury Bills
   D) Mutual Funds
   
   View answer

   Option C
   
7. Which among the following is the major cause of inflation?
   A) Decrease in supply of goods
   B) Increase in money supply
   C) Increase in cash held with the government
   D) Decrease in money supply
   
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   Option B
   
8. Which of the given is a Navratna Company?
   A) HDFC
   B) Infosys
   C) Air India
   D) HPCL
   
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   Option D
   
9. For the issue of currencies, the RBI follows Minimum Reserve System. Under this system, the RBI has to keep a minimum reserve of Rs____________
   A) 200 crore
   B) 100 crore
   C) 500 crore
   D) 300 crore
   
   View answer

   Option A
   Explanation: Under the Minimum Reserve System, the RBI has to keep a minimum reserve of Rs 200 crore comprising of gold coin and gold bullion and foreign currencies
10. SFMS is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. What is the full form of SFMS?
    A) Standard Financial Messaging System
    B) Systematic Financial Messaging System
    C) Structured Financial Messaging System
    D) Synchronized Financial Messaging System
    
    View answer

    Option C
    

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