Quiz on Banking Awareness

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Number of Questions: 10

1. Three out of the given options serve as both Identity proof as well as address proof. Pick the odd one out.
   A) Aadhaar card
   B) Driving License
   C) Passport
   D) PAN Card
   
   View answer

   Option D
   Explanation: PAN Card serves as an Identity proof only. Not as an address proof.
2. In case of ‘Small Account’, the balance at any point of time should not exceed Rs__________.
   A) Rs 1 lakh
   B) Rs 10,000
   C) Rs 50,000
   D) Rs 25,000
   
   View answer

   Option C
   Explanation: A ‘small account’ means a savings account in a banking company where the aggregate of all credits in a financial year does not exceed rupees one lakh; the aggregate of all withdrawals and transfers in a month does not exceed rupees ten thousand; and the balance at any point of time does not exceed rupees fifty thousand.
3. An account type offered by banks which help people with regular incomes to deposit a fixed amount every month for the purpose of saving and earn decent returns on their investment is known as____________
   A) Savings Account
   B) Recurring Deposit account
   C) Fixed Deposit Account
   D) Current Account
   
   View answer

   Option B
4. Which among the given inter-bank electronic funds transfer system enables money transfer service 24/7 throughout the year including bank holidays?
   A) IMPS
   B) RTGS
   C) NEFT
   D) All the above
   
   View answer

   Option A
   
5. The individuals/entities appointed by a bank as its agent for providing banking services in unbanked / under-banked geographical territories is known as___________
   A) Bancassurance
   B) Bank Identifier
   C) Banking Ombudsmen
   D) Business Correspondents 
   
   View answer

   Option D
   
6. SWIFT codes are most commonly used for international fund transfers and comprise of 8 or 11 alphanumeric characters. Here F stands for ________  in SWIFT
   A) Fixed
   B) Fund
   C) Financial
   D) Facility
   
   View answer

   Option C
   Explanation: SWIFT stands for Society for Worldwide Interbank Financial Telecommunication
7. How much amount of personal Accidental Insurance cover is applicable on RuPay Debit Card under the PMJDY?
   A) Rs 2.5 lakh
   B) Rs 2 lakh
   C) Rs 1.5 lakh
   D) Rs 1 lakh
   
   View answer

   Option B
   Explanation:It provides accidental insurance cover upto Rs.2.00 lac (w.e.f August 2018) without any charge to the customer.
8. Who is the regulator of the Life Insurance Corporation of India (LIC)?
   A) IRDAI
   B) RBI
   C) SEBI
   D) PFRDA
   
   View answer

   Option A
   
9. The CVV (Card Verification Value) Number on which type of credit card or debit card is a 4 digit numeric code?
   A) Rupay Card
   B) Master Card
   C) Visa
   D) American Express
   
   View answer

   Option D
   Explanation: In Visa, MasterCard or Rupay Card it is 3 digit number code
10. What does P stands for in PIN which is randomly generated code for use of ATM Card at the time of withdrawal of money from ATM Machine?
    A) Public
    B) Payment
    C) Personal
    D) Password
    
    View answer

    Option C
    Explanation: Personal Identification Number (PIN)

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