Banking and Financial Awareness Quiz

1. On a cheque issued by a customer, the words bearer or order are not written. This cheque will be treated as?

 A bearer cheque

 An order cheque

 This not a valid cheque

 This is not a negotiable instrument now

2. An agreement between two nations or a group of nations which establishes unimpeded exchange and flow of goods and services between/among trade partners regardless of national boundaries is called?

 Import Free Agreement

 Free Trade Agreement

 Export Free Agreement

 None of the above

3. On a cheque issued by a customer, the words bearer or order are written. This cheque will be treated as?

 A bearer cheque

 An order cheque

 This not a valid cheque

 This is not a negotiable instrument now

4. The Food and Agriculture Organisation (FAO) is a wing/agency of the?

 World Bank

 United Nations Organisation

 Asian Development Bank

 Ministry of Agriculture Govt. of India

5. On which of the following types of cheques alterations are not allowed by RBI?

 Paper cheque

 CTS cheque

 Electronic cheque

 Cheque with account payee crossing

6. Which of the following terms is not used in Banking and Finance?

 Bid Price

 Jacksonian Seizure

 Call option

 Bluechip

7. Which of the following terms is not used in Economics?

 Exogenous

 Depreciation

 Deep Market

 Zero Sum Game

8. Which of the following cannot be endorsed?

 A fixed deposit receipt

 A bank draft

 A Promissory note

 A usance bill of exchange

9. As we know many Indian Banks are opening their branches in foreign countries these days. What in your opinion is/are the reasons owing to which these banks are willing to open branches in foreign countries? 

I. India has the largest network of bank branches in the world. Hence other nations also wish to take advantage of their services.

II. India Banks get an opportunity to raise foreign currency funds and also the experience funding joint ventures of multinationals. This prompts them to open their branches in foreign nations.

III. As many foreign banks are functioning in India, India is turn is also required to open equal number of branches in foreign countries. Hence, India Banks are opening branches in these countries.

 Only I

 Only II

 Only III

 Only I and II

10. As a practice, all banks now deduct some amount from their pre tax income and set aside in a separate account to create a cushion for the loans which may go bad. This is called...........?

 CRR

 SLR

 Provisioning

 PLR