Banking Awareness Quiz – Set 83 – 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.

Banking Awareness Questions

1. The Purchasing power parity (PPP) theory is related with which of the following?
   A) Bank rate
   B) Exchange rate
   C) Interest rate
   D) Wage rate
   
   View answer

   Option B
   Explanation: PPP  is a theory which states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.
2. Expand GNI
   A) Gross Net Income
   B) Gross National Interest
   C) Gross Net Interest
   D) Gross National Income
   
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   Option D
   
3. The Income and Expenditure Account is also known as _________
   A) Capital Account
   B) Personal Account
   C) Nominal Account
   D) Business Account
   
   View answer

   Option C
   
4. The proceeds of the income tax goes to which of the following?
   A) Centre and States
   B) Reserve Bank of India
   C) Central Government
   D) Corporation authorities
   
   View answer

   Option A
   
5. Which among the following is the apex bank for giving industrial loan in India?
   A) ICICI
   B) IDBI
   C) SIDBI
   D) NHB
   
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   Option B
   
6. The Securities and Exchange Board of India (SEBI) is _______ body.
   A) Quasi Judicial body
   B) Constitutional body
   C) Advisory body
   D) Regulatory body
   
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   Option D
   Explanation: The Securities and Exchange Board of India is the regulator for the securities market in India. 
7. The banks can avoid major losses by which of the following methods?
   A) Lending to old customers of the bank
   B) Providing only short term loans
   C) Giving collateral loans
   D) Lending only to high net worth individuals
   
   View answer

   Option C
   
8. The commercial banking system in India is a ___________type of banking
   A) Branch banking
   B) Unit banking
   C) Mixed banking
   D) Sophisticated banking
   
   View answer

   Option A
   
9. Who among the given has designed the new symbol of the India currency?
   A) Santosh Kumar
   B) Raghuram Rajan
   C) YV Reddy
   D) Udaya Kumar
   
   View answer

   Option D
   Explanation: Udaya Kumar Dharmalingam
10. ECS is an electronic mode of funds transfer from one bank account to another. What does ECS stands for?
    A) Electronic Credit Standards
    B) Electronic Clearing Services
    C) Electronic Clearing Status
    D) Electronic Credit System
    
    View answer

    Option B
    

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