General Awareness Quiz 5 for SBI & IBPS exams
1 . | Many times we read about 'Balance of Payment' in economic literature. Which of the following statement(s) define the term correctly ? (A) It is a record of all transactions made betweenone particular country and all other countries. (B) It is a record of all transactions made betweenthe countries wherein the payment was made in a currency other than US Dollar. (C) It is a record of all exports/ imports from/by a country and difference in amount of both in terms of payment in US dollars | A. Only A | B. Only C | C. Only B | D. Both A and B | | Answer & Explanation Answer : Option A | | Explanation : | | | | | | | | 2 . | As per the existing policy the Cash Reserve Ratio (CRR) of scheduled banks is fixed at a certain percentage oftheir NDTL. What is full form of NDTL ? | A. New Demand & Tenure Liabilties | B. Net Demand & Time Liabilities | C. National Deposits & Total Liquidity | D. New Deposits and Term Liquidity | | Answer & Explanation Answer : Option B | | Explanation : | | | | | | | | 3 . | The Reserve Bank of India recently decided to review its monetary policy more frequently. This mea- sure of the RBI will be called RBl's (A) Monetary Measure (B) Financial Market Measure (C) Regulatory Measure | A. (1) Only (A) | B. Only (B) | C. All (A), (B)and (C) | D. Both (A) and (B) | | Answer & Explanation Answer : Option C | | Explanation : | | | | | | | | 4 . | "Basel Committee on Banking Supervision" is also/or popularly known as — | A. Thomas Cook Committee | B. Talwar Committee | C. Bank for International Settlements Committee | D. Peter Cook Committee | | Answer & Explanation Answer : Option C | | Explanation : | | | | | | | | 5 . | Which of the following is/are the highlights of the Foreign Trade Policy 2009-14, which was reviewed by the Government recently ? (A) Government to increase exports upto US $ 200 billion this fiscal year. (B) List of items allowed for duty free imports reduced by 30%. (C) Few towns like Barmer, Bhiwandi and Agra were declared towns of Export Excellence. | A. Only A | B. Only B | C. Only C | D. Only A and C | | Answer & Explanation Answer : Option D | | Explanation : | | | | | | | | 6 . | The Direct Tax Code which was revised recently will be implemented from which of the following dates ? | A. April 2011 | B. April 2012 | C. January 2011 | D. None of these | | Answer & Explanation Answer : Option B | | Explanation : | | | | | | | | 7 . | Government may reduce its budgetary deficit by various measures. Which of the following is NOT one such measure ? | A. Market Borrowing | B. Deficit financing | C. Foreign grants | D. Reducing taxes and Increasing subsidies | | Answer & Explanation Answer : Option D | | Explanation : | | | | | | | | 8 . | 'Commercial Papers' are issued by- | A. a company to a bank | B. Bank to companies | C. Banks to banks | D. None of these | | Answer & Explanation Answer : Option C | | Explanation : | | | | | | | | 9 . | ‘MAT’ provision in Income Tax stands for — | A. Medium Alternate Tax | B. Maximum Alternative Tax | C. Minimum Alternative Tax | D. Mild Alternative Tax | | Answer & Explanation Answer : Option C | | Explanation : | | | | | | | | 10 . | Many times we read about SWIFT in newspapers. What is its full form ? | A. Sound world wide institution for transactions | B. Safe window in case of Financial Transaction | C. Society for world wide Interbank Financial Telecommunication | D. None of these | | Answer & Explanation Answer : Option C | | Explanation : | | | | | | | | |
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