Banking Awareness Quiz – Set 79 – Miscellaneous

Banking 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.

1. FETERS is related to?
   A) Financial Asset
   B) Fixed Asset
   C) Free Float
   D) Foreign Exchange
   
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     Option D
   Explanation: Foreign Exchange Transactions Electronic Reporting System (FETERS) is a reporting mechanism for foreign exchange
2. ATM transaction in which the ATM Card and the ATM Machine are of the same of the same bank is known as?
   A) off-us transaction
   B) on-us transaction
   C) on-my transaction
   D) off-my transaction
   
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     Option B
   Explanation: “On-us” transactions are those transactions in which the customer or card holder and the acquiring machine like ATM or POS are of the same bank
3. Banks will be allowed to offer PCE only in the form of a non-funded irrevocable contingent line of credit. What does E stands for in PCE?
   A) Eligibility
   B) Exit
   C) Enhancement
   D) Economic
   
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   Option C
   Explanation: Partial Credit Enhancement
4. To be eligible for PCE from banks, corporate bonds shall be rated by a minimum of how many external credit rating agencies?
   A) one
   B) two
   C) three
   D) four
   
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   Option B
   Explanation: To be eligible for PCE from banks, corporate bonds shall be rated by a minimum of two external credit rating agencies at all times;
5. A ‘Banking Outlet’ for a Domestic Scheduled Commercial Bank (DSCB), a Small Finance Bank (SFB) and a Payment Bank (PB) should provide service for a minimum of _____ per day for at least five days a week.
   A) 5 hours
   B) 3 hours
   C) 4 hours
   D) 6 hours
   
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   Option C
   Explanation: A ‘Banking Outlet’ for a Domestic Scheduled Commercial Bank (DSCB), a Small Finance Bank (SFB) and a Payment Bank (PB) is a fixed point service delivery unit, manned by either bank’s staff or its Business Correspondent where services of acceptance of deposits, encashment of cheques/ cash withdrawal or lending of money are provided for a minimum of 4 hours per day for at least five days a week.
6. A _______ clause is a provision in which an old rule continues to apply to some existing situations while a new rule will apply to all future cases
   A) literacy
   B) grandfather
   C) domestic
   D) limited
   
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   Option B
   Explanation: A grandfather clause is an exemption that allows persons or entities to continue with activities or operations that were approved before the implementation of new rules, regulations or laws.
7. Co-operative banks are allowed to issue which type of Pre-paid Payment Instruments?
   A) Closed System PPIs
   B) Semi-closed System PPIs
   C) Open System PPIs
   D) All of these
   
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   Option B
   Explanation:
8. ______ security refers to a security that has been authorized for issuance but not yet actually issued.
   A) Virtual
   B) Semi authorised
   C) When issued
   D) Legal
   
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   Option C
   Explanation: “When, as and if issued” (commonly known as ‘When Issued’) security refers to a security that has been authorized for issuance but not yet actually issued. When Issued trading takes place between the time a Government Security is announced for issuance and the time it is actually issued. All ‘When Issued’ transactions are on an ‘if’ basis, to be settled if and when the actual security is issued.
9. Who allots the Loan Registration Number (LRN) for issuance of Rupee Denominated Bonds?
   A) SEBI
   B) RBI
   C) NABARD
   D) CRISIL
   
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   Option B
   Explanation: Such bonds can be issued only after obtaining Loan Registration Number (LRN) from the Reserve Bank as applicable to ECBs.
10. Inflation Indexed Bonds (IIBs) were issued in the name of __________ during 1997.
    A) Product Indexed Bonds
    B) Money Indexed Bonds
    C) Loan Indexed Bonds
    D) Capital Indexed Bonds
    
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    Option D
    Explanation: Inflation Indexed Bonds (IIBs) were issued in the name of Capital Indexed Bonds (CIBs) during 1997.

 

 

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