Banking Awareness Quiz for Banking Exams

1. A money deposited in a bank that cannot be withdrawn for a preset fixed period of time is known as a

1) Term deposit

2) Checking Account

3) Savings Bank Deposit

4) No Frills Account

5) Current Deposit

2. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as

1) CHAPS

2) SWIFT

3) NEFT

4) SFMS

5) CHIPS

3. The term ‘Smart Money’ refers to

1) Foreign Currency

2) Internet Banking

3) US Dollars

4) Travellers’ Cheques

5) Credit Cards

4. Which of the following is not a ‘Money Market Instrument’?

1) Treasury Bills

2) Commercial Paper

3) Certificate of Deposit

4) Equity Shares

5) None of these

5. Which of the following is a retail banking product?

1) Home Loans

2) Working capital finance

3) Corporate term loans

4) Infrastructure financing

5) Export Credit

6. When there is a difference between all receipts and expenditure of the Govt of India, both capital and revenue, it is called

1) Revenue Deficit

2) Budgetary Deficit

3) Zero Budgeting

4) Trade Gap

5) Balance of payments problem

7. Which of the following is NOT a function of the Reserve Bank of India?

1) Fiscal Policy Functions

2) Exchange Control Functions

3) Issuance, Exchange and Destruction of currency notes

4) Monetary Authority Functions

5) Supervisory and Control Functions

8. Which of the following is NOT required for opening a bank account?

1) Identity Proof

2) Address Proof

3) Recent Photographs

4) Domicile Certificate

5) None of these

9. What is the maximum deposit amount insured by DICGC?

1) ₹ 2,00,000 per depositor per bank

2) ₹ 2,00,000 per depositor across all banks

3) ₹ 1,00,000 per depositor per bank

4) ₹ 1,00,000 per depositor across all banks

5) None of these

10. With reference to a cheque, which of the following is the ‘drawee bank’?

1) The bank that collects the cheque

2) The payee’s bank

3) The endorsee’s bank

4) The endorser’s bank

5) The bank upon which the cheque is drawn

11. In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction?

1) RTGS

2) NEFT

3) TT

4) EFT

5) MT

Answers:

1. 1
2. 2
3. 5
4. 4
5. 1
6. 2
7. 1
8. 4
9. 3
10. 1
11. 1