Banking Quiz 1

Bankers Adda is also known Banking Quiz Adda.
Today Bankers Adda came back with a New Quiz on Banking.
Go through the quiz and if you have any doubts please contact bankers adda in the comment section.

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Q1: Across the face of a cheque bears the words “Peoples Bank”. What is its significance?

A : it is an extraneous matter appearing on the cheque. Hence should be returned.
B : the cheque is specially crossed in favour of Peoples Bank.
C : it is not a crossing as it does not contain two parallel lines
D : None of the above.

Q2 : A draft issued by the bank has been lost by the payee. He sends a letter to the issuing bank to stop payment. Bank will

A : note caution and will advise the payee to contact purchase of the draft
B : not act on the request
C : stop payment
D : None of the above

Q3 : BCSBI stands for

A : Banking codes and Standards Boards of India
B : Board code for standards in Branches
C : Board code for standards in Banking
D : None of the above.

Q4 : As per KYC Policy, the list of terrorist organizations is supplied to the bank by the

A : Government of India

Q5 : Association of National Exchanges Members of India ANMI is a body consisting of

A : Bankers and SEBI
B : SEBI and IBA
C : Brokers Operating in the National Exchanges
D : Bankers, SEBI, IBA and RBI

Q6 : As per RBI guidelines, when a counterfeit note is detected at the branch, it should be

A : Branded with a stamp “COUNTERFEIT BANKNOTE”
B : Recorded in a separate register under authentication
C : acknowledge in the prescribed format of RBI and issued to the tenderer
D : All of above.

Q7 : Asset Reconstruction company is associated with


Q8 : As per RBI Directives which of the following areas/functions cannot be outsourced by the Banks:

A : Opening and closing of accounts
B : cash collection from the parties
C : recovery of bad loans
D : credit and debit cards

Q9 : At what stage of opening of bank account is the checking of Politically Exposed Persons PEP carried out

A : at the first point of customer interaction
B : at the Account Services Level
C : at the Central Account Services Level
D : one month after the account is opened

Q10 : Banks generally prefer to extend finances to registered firms only, because

A : banks will have priority over creditors in case of liquidation of the firm
B : the firms can sue the debtors in case of default on their part
C : banks can sue the firm in case of default
D : the creditors can sue the firm

Q11 : Balance of Trade of a country is equivalent to

A : difference between the Inward and Outward remittances made in foreign exchange
B : surplus generated shown in a Trading Account
C : difference between exports and imports
D : none of the above

Q12 : Banking services offered to units set up n Special Economic Zones (SEZs) have been exempted from paying

A : Capital gain tax
B : Income tax
C : Service tax
D : None of these

Q13 : Banker’s right of set off can be exercised on receipt of

A : Income tax attachment order
B : Garnishee order
C : Both A and B
D : None of the above

Q14 : Authorized dealers for Foreign exchange transactions are appointed by

A : Reserve Bank of India
B : Individual Banks
D : Government of India

Q15 : Banks should not grand new loans for purpose of minor irrigation in

A : White Block
B : Grey Bloc
C : Dark Block
D : All of the above

Q16 : Certificate in respect of an SSI unit is given by

B : Chamber of Commerce
C : District Industries Center
D : None of these

Q17 : Branches receive Potential Linked Plan through

A : Block Level Banker’s Committee
B : State Level Banker’s Committee
C : District Consultative Committee
D : Lead Bank Department

Q18 : Borrower’s ability to meet the immediate liabilities is indicated by

A : Current Ratio
B : Acid Test Ratio
C : Debt Equity Ratio
D : None of the above

Q19 : By devaluation we mean:

A : A fall in the domestic value of currency
B : A fall in the external value of a currency caused by the market forces
C : A fall in the external value of a currency caused by Government action
D : None of the above

Q20: By “Deemed Exports” it means

A : supplies of goods and services to units within the country which can earn foreign currency to the country
B : exports made by units situated in EPZ areas to other country.
C : exports made by EOU out of the country
D : anticipated value of experts

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