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Banking Awareness MCQ for Banking Exams

1. Which of the following organisations provides guarantee to the exporters?
a) Exim Bank
b) Export Credit Guarantee Corporation
c) Director General Foreign Trade
d) Reserve Bank of India
e) Registrar of companies

2. Which of the following terms is not used in banking world?
a) Credit
b) Rate
c) Financial status
d) Discount
e) Absolute zero

3. What is the full form of IRR as used in banking/financial sector?
a) Internal Rate of Return
b) Internal Revaluation Reserve
c) Investment Reserve Ratio
d) Internal Risk Return
e) None of the above

4. Which of the following organisations provides credit history of the borrowers?
a) CIBIL
b) ARCIL
c) SEBI
d) RBI
e) CCIL

5. Banks need liquidity to meet which of the following objectives of banking?
  • A. To meet deposit withdrawal
  • B. To fund loan demands
  • C. To maintain public confidence

a) Only (A)
b) Only (B)
c) Only (C)
d) Only (A) and (B)
e) Only (B) and (C)

6. Which of the following terms is used in the field of Finance and Banking?
a) Gauge pressure
b) Quantum number
c) Adjustment credit
d) Absolute zero
e) Single bond

7. Goods and Services Tax (GST) would replace which of the following taxes levied at present?
a) Income tax
b) Corporate tax
c) Capital gains tax
d) Value added tax (VAT)
e) All of these

8. IFRS stands for
a) International Financial Reporting Standards
b) Indian Financial Rating Standards
c) International Financial Rating Standards
d) Indian Functional Reporting Standards
e) None of these

9. KYC guidelines followed by the banks have been framed on the recommendations of the 
a) Ministry of Home Affairs
b) Ministry of Rural Development
c) Indian Banks Association
d) Financial Intelligence Unit
e) Reserve Bank of India

10. Bridge loans refer to
a) Loans granted to construction companies for construction of bridges
b) Loan granted to PWD for construction of bridges over rivers
c) Interim finance allowed by banks to their customers, pending disbursement of term loans by financial institutions
d) Loan granted to Railway for construction of bridges 
e) None of these

Answers:

  1. b
  2. e
  3. a
  4. a
  5. c
  6. c
  7. d
  8. a
  9. e
  10. c
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