Financial Awareness Quiz

Financial Awareness Based Quiz: This post contains Financial 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 Financial Awareness sets will guide you in all upcoming banking and insurance exams.

1. The three presidency banks in India were amalgamated into Imperial Bank in which year?
   A) 1920
   B) 1921
   C) 1945
   D) 1955
   
   View answer

   Option B
   Explanation: The three presidency banks in India were amalgamated into Imperial Bank in 1921.
2. Premature withdrawal is allowed in Sukanya Samriddhi Account after the girl attains the age of ___________.
   A) 10 years
   B) 18 years
   C) 21 years
   D) 15 years
   
   View answer

   Option B
   Explanation: Premature withdrawal is allowed in Sukanya Samriddhi Account after the girl attains the age of 18 years.
3. What is the lock in period in Kisan Vikas Patra?
   A) 30 months
   B) 24 months
   C) 26 months
   D) 19 months
   
   View answer

   Option A
   Explanation: 30 months is the lock in period in Kisan Vikas Patra.
4. What is the maximum deposit amount insured by the DICGC?
   A) 2 lakh
   B) 1 lakh
   C) 4 lakh
   D) 5 lakh
   
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   Option D
   Explanation: 5 lakh is the maximum deposit amount insured by the DICGC.
5. The flat rate premium had been upped from 10 paise to ______ per Rs. 100 of assessable deposits since April 1, 2020, to mitigate the impact of the hike in insurance cover on the corporation’s Deposit Insurance Fund (DIF).
   A) 14 paise
   B) 12 paise
   C) 15 paise
   D) 16 paise
   
   View answer

   Option B
   Explanation: The flat rate premium had been upped from 10 paise to 12 paise per Rs. 100 of assessable deposits since April 1, 2020, to mitigate the impact of the hike in insurance cover on the corporation’s Deposit Insurance Fund (DIF).
6. DICGC, a wholly owned subsidiary of RBI, had upped the limit of insurance cover for bank deposits to Rs. 5 lakh per depositor with effect from ________.
   A) February 4, 2021
   B) February 4, 2020
   C) February 4, 2019
   D) February 4, 2018
   
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   Option B
   Explanation: DICGC, a wholly owned subsidiary of RBI, had upped the limit of insurance cover for bank deposits to Rs. 5 lakh per depositor with effect from February 4, 2020.
7. Which of these payments system is not managed by NPCI?
   A) *99#
   B) NETC
   C) NFS
   D) None
   
   View answer

   Option A
   Explanation: *99#  is not managed by NPCI.
8. Coins are minted by Government of India at 4 mints in the country. Which one of the following is not among four mints?
   A) Dewas
   B) Noida
   C) Hyderabad
   D) Kolkata
   
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   Option A
   Explanation: Dewas is not one of the four mints.
9. Periodic Updation shall be carried out at least once in every _____ years for high risk customers, once in every ____ years for medium risk customers and once in every _______ years for low risk customers.
   A) 2, 8, 15
   B) 2, 8, 10
   C) 2, 8, 20
   D) 2, 3, 10
   
   View answer

   Option A
   Explanation: Periodic Updation shall be carried out at least once in every 2 years for high risk customers, once in every 8 years for medium risk customers and once in every 15 years for low risk customers.
10. What is the Penal Interest Rate for banks if NEFT deposit is not done on time?
    A) Repo Rate+ 3%
    B) Repo Rate + 2%
    C) Rep Rate + 1 %
    D) Repo Rate + 4%
    
    View answer

    Option B
    Explanation: Repo Rate + 2%is the Penal Interest Rate for banks is NEFT deposit is not done on time.

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