Banking Awareness Set 7

1 . Which among the following will settle the grievances of customers of banks? A). State Bank of India B). Banking Ombudsmen C). Local Courts D). Nationalised Banks Answer & Explanation Answer : Option B Explanation : The Banking Ombudsman, promoted by RBI provides speedy solutions to the grievances faced by the customers from various banks. View Answer 2 . What was the targeted growth rate for 2012-17 in the 12th Five Y ear Plan? A). 8% B). 10-11% C). 9.6% D). 9.5-9.75% Answer & Explanation Answer : Option A Explanation : T argated Growth rate is 8% in 12$^{th}$ Five year plan View Answer 3 . Gilt - Edged market means------- A). Bull market B). Gun market C). Market of Government securities D). Market of pure metal Answer & Explanation Answer : Option C Explanation : Gilt - Edged market means Market of Government Securities. View Answer 4 . Many times we have read about ULIP in newspapers. ULIP stands for ________. A). United Loaded Investment Plan B). Universal Loan Investment Plan C). Unit Life Insurance Plan D). Unit Linked Insurance Plan Answer & Explanation Answer : Option D Explanation : Aunit-linked insurance plan (ULIP) is a type of life insurance where the cash value of a policy varies according to the current net asset value of the underlying investment assets. View Answer 5 . Devaluation of currency results in ____ A). Increased export and import B). Trade deficit C). Increased export and improvement in balance of payment D). Increased import and foreign reserve deficiency Answer & Explanation Answer : Option C Explanation : Currency devaluation takes place when one country's currency is reduced in value in comparison to other currencies. View Answer 6 . The Govt. of India replaced the FERA by _______ A). FEMA B). FRBMA C). Monopolies Act D). FRTP Answer & Explanation Answer : Option A Explanation : Foreign Exchange Management Act View Answer 7 . Banking which involves mobilizing large part of the deposits in risk free assets such as government securities is called _______ A). Overseas Banking B). Offshore Banking C). Islamic Banking D). Narrow Banking Answer & Explanation Answer : Option D Explanation : Narrow Banking restrict banks to hold liquid and safe government bonds View Answer 8 . What is the full form of REER? A). Real Earning Emergent Ratio B). Real Elective Effective Ratio C). Real Effective Exchange Rate D). Role Effective Earned Rate Answer & Explanation Answer : Option C Explanation : This exchange rate is used to determine an individual country's currency value relative to the other major currencies in the index, as adjusted for the effects of inflation. View Answer 9 . Consider the following statements and state which of them are true? A. The planning commission's 40 members steering committee on Health will advise panel on the twelfth five year plan. B. The 40 member committee on Health is chaired by Syeda Hameed. C. The steering committee will review the National Health Policy , as well as explore the possibility of adopting the Right to Health as an approach with focus on women, children & preventive & curative healthcare. A). Only B B). Only C C). A and C D). All are true Answer & Explanation Answer : Option D Explanation : All are true View Answer 10 . IRDA announced a Health Insurance Policy Portability . This will be implemented from _______ A). 1 April, 2011 B). 1 August, 2011 C). 1 September, 2011 D). 1 July , 2011 Answer & Explanation Answer : Option D Explanation : IRDA allows portability shifting of policies from one insurer to another on same terms from July 1, 201 1. View Answer