Banking quiz

Banking Awareness Quiz – Set 300

Banking Awareness Quiz

Banking Awareness Quiz – Set 300: This post contains Banking Awareness Quiz for Banking and Insurance exams like IBPS PO/Clerk, SBI PO/Clerk, RBI Assistant/ GRADE B, NABARD, RRB PO/Clerk, NIACL, NICL and LIC AAO/Assistant etc. These Banking Awareness sets will guide you in all upcoming banking and insurance exams.

Topic: Financial Awareness

  1. When money is lent, or borrowed for one day or on overnight basis it is known as _______.
    A) Term Money
    B) Notice Money
    C) Call Money
    D) Call in Advance
    View answer
    Option C
    Explanation:
    When money is lent, or borrowed for one day or on overnight basis it is known as Call Money.
  2. What is the validity period of Cheque?
    A) 3 months
    B) 6 months
    C) 2 months
    D) 4 months
    View answer
    Option A
    Explanation: The validity of a cheque is for 3 months.
  3. What is the upper limit in Public Provident Fund?
    A) 2.5 lakh
    B) 1.5 lakh
    C) 2 lakh
    D) 0.5 lakh
    View answer
    Option B
    Explanation: 1.5 lakh is the upper limit in Public Provident Fund.
  4. What is the time limit for an asset or loan to be declared as Non- Performing Asset?
    A) 60 days
    B) 45 days
    C) 90 days
    D) 180 days
    View answer
    Option C
    Explanation: 90 days is the time limit for an asset or loan to be declared as Non- Performing Assets.
  5. What is the full form of EFT?
    A) Electric Fund Transfer
    B) Electronic Funding Transfer
    C) Electronic Fund Transfer
    D) Electronic Foreign Transfer
    View answer
    Option C
    Explanation: The full form of EFT is
    Electronic Fund Transfer.
  6. In BSBDA (Basic Savings Bank Deposit Account) the withdrawals and transfers in a month should not exceed?
    A) 50,000
    B) 40,000
    C) 30,000
    D) 10,000
    View answer
    Option D
    Explanation: In BSBDA, the withdrawal and transfers in a month should not exceed to 10,000.
  7. What is the full form of ASBA?
    A) Application Supported by Blocked Amount
    B) Account Supported by Blocked Amount
    C) Audit Supported by Blocked Amount
    D) Assets Supported by Blocked Amount
    View answer
    Option A
    Explanation: The full form of ASBA is
    Application Supported by Blocked Amount.
  8. What do you understand by the term DRAT?
    A) Debtor Recovery appellate tribunal
    B) Debt Recovery Appellate Tribunal
    C) Debenture Recovery Appellate Tribunal
    D) Debt Reconstruction Appellate tribunal
    View answer
    Option B
    Explanation:
    The full form of DRAT is Debt Recovery Appellate Tribunal.
  9. Bank give notice to borrower before ________ days of possession under SARFAESI Act 2002.
    A) 30 days
    B) 35 days
    C) 40 days
    D) 60 days
    View answer
    Option D
    Explanation:
    Bank give notice to borrower before 60 days of possession under SARFAESI Act 2002.
  10. DeMat Accounts are generally held by people who:
    A) Have big businesses
    B) Deal in life insurance policies
    C) Want to obtain loans from foreign banks
    D) Deal in shares
    View answer
    Option D
    Explanation:
    DeMat Accounts are generally held by people who Deals with shares.

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