General Awareness Quiz 7 for SBI & IBPS exams
1 . | Which of the following terms is NOT used in the field of banking and finance ? | A. Blue chip companies | B. Commercial Paper | C. Wobbe Index | D. Premium Bonds | | Answer & Explanation Answer : Option C | | Explanation : | | | | | | | | 2 . | Which one of the following advice has been givenby the Finance Minister of India to Banks, while addressing the 5th International Banking and Finance Conference ? | A. Banks should provide ATMs in unbanked areas | B. Banks should extend loans to the people in rural areas | C. Banks should relax security norms for small businesses | D. Banks should prepare a roadmap for financial inclusion covering rural households | | Answer & Explanation Answer : Option D | | Explanation : | | | | | | | | 3 . | Expand the term IFRS_____ | A. Indian Financial Review standards | B. Indian Financial Reporting standards | C. International Financial Review Standards | D. International Financial Reporting Standards | | Answer & Explanation Answer : Option D | | Explanation : | | | | | | | | 4 . | What is a corporate Hedging ? | A. It is a mechanism to protect firms exposure toequity risk | B. It is a mechanism to protect firms exposure tomarket risk | C. It is a mechanism to protect firms exposure toforex risk | D. None of these | | Answer & Explanation Answer : Option B | | Explanation : | | | | | | | | 5 . | India is following a system of fiat money, while issuing currency. What is fiat money ? | A. The currency is backed by Government Guarantee | B. The currency is backed by tangible assets | C. The currency is backed by gold reserves | D. The currency is backed by budgetary support | | Answer & Explanation Answer : Option A | | Explanation : | | | | | | | | 6 . | A lease______ | A. is a rental agreement between owner of a flat/house and the Tenant, whereby the Tenant pays specified amount on specified dates to the owner | B. is a legal contract-between the owner of an asset and its user, containing many conditions including payment of a specified amount by the user to the Owner for use of the asset. | C. is mainly used for machine | D. None of these | | Answer & Explanation Answer : Option B | | Explanation : | | | | | | | | 7 . | Factoring — | A. is an easy way of raising cap ital from a factoring company by small business. | B. is selling of account receivables on a contractbasis for cash payment to a factor before it is due. | C. Is an arrangement for raising short term money against prepaid expenses. | D. None of these | | Answer & Explanation Answer : Option B | | Explanation : | | | | | | | | 8 . | Under provisions of which one of the following Acts, the RBI issues directives to the Banks in India ? | A. RBI Act | B. Banking Regulation Act | C. Essential Commodities Act | D. RBI and Banking Regulation Act | | Answer & Explanation Answer : Option D | | Explanation : | | | | | | | | 9 . | Which one of the following tools is used by RBI for selective credit control ? | A. It advises banks to lend against certain commodities | B. It advises banks to recall the loans for advances against certain commodities | C. It advises banks to charge higher rate of interest for advance against certain commodities | D. It discourages certain kinds of lending by assigning higher risk weights to loans it deems undesirable | | Answer & Explanation Answer : Option D | | Explanation : | | | | | | | | 10 . | For which one of the following Loan Products ‘teaser loans’ are offered by Banks ? | A. Educational Loans | B. Commercial Loans | C. Loans against security of gold | D. Home Loans | | Answer & Explanation Answer : Option D | | Explanation : | | | | | | | | |
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