1.In which year Negotiable Instruments act came into force?
(A)1880
(B)1882
(C)1883
(D)1885
(E)1889
Ans. (B) It was passed in 1881 and came into force from March 1, 1882
2.Which among the following is very similar to Hundi?
(A)Promissory Note
(B)Demand Draft
(C)Bill of Exchange
(D)Cheque
(E)None of the above
Ans. (C) Hundis are Bill of Exchange written in vernacular languages.
3.Which of the following acts was amended by the parliament in 1989, with a view to restore the faith in business transactions through cheques and speedy remedy in case of bouncing cheques?
(A)Negotiable instruments Act 1881
(B)Companies Act 1956
(C)Reserve Bank of India Act 1934
(D)Banking Regulation Act, 1949
(E)None of the above
Ans. (A) parliament on First April 1989, inserted Section 138-142 in the Negotiable instruments Act 1881 for the above purpose
4.many a times we read in the newspapers that SBI and a few others open “Boutique Branches ” specially for the services provided to ___?
(A)Rural Population
(B)Women
(C)Urban Working Women
(D)High Net worth Individuals
(E)Rural BPL families
Ans. (D) High Net worth Individuals
5.Lessor and Lessee is a relationship between a bank and its customer in which of the following?
(A)Cash Deposits
(B)Loans
(C)Securities
(D)Safe Deposit Locker
(E)None of them
Ans. (D) Safe Deposit Locker
6.From which of the following years Ecommerce in India, online transactions and digital signatures were made legally valid?
(A)1998
(B)1999
(C)2000
(D)2001
(E)2002
Ans. (C) Govt. notified rules under IT Act 2000 and the above became valid from October 18, 2000
7.Which among the following is the oldest and most common form of Electronic Funds Transfer System?
(A)Wire transfers
(B)Automatic Teller Machines
(C)Cash Dispensers
(D)Point of Sale Terminals
(E)Home Banking
Ans. (A) Wire transfers
8.Which among the following committees gave its recommendations on “Customer Service”?
(A)Bhootlingam Committee
(B)Dantwala Committee
(C)A Ghosh Committee
(D)Goiporia Committee
(E)Omkar Goswami Committee
Ans. (D) Goiporia Committee
9.Which among the following committees recommended drastic changes in the present framework in Industrial sickness, The Sick Industrial Companies Act (SICA) and Board for Industrial & Financial Reconstruction (BIFR)?
(A)Narsimhamam Committee
(B)Jilani Committee
(C)PD Ojha Committee
(D)Omkar Goswami Committee
(E)Rekhi Committee
Ans. (D) Omkar Goswami Committee
10.In which year Reserve bank of India introduced Special Fund Facility for Security Settlement SFFSS?
(A)1999
(B)2000
(C)2001
(D)2002
(E)2003
Ans. (B) October 2000. The objective was to provide intraday funds to facilitate settlement of securities transactions in case of gridlock
11.What is the full form of ESOS?
(A)Exchange Stock Option Scheme
(B)Exchange System of Option Shares
(C)Employee System of Operation in Stocks
(D)Employee Stock Option Scheme
(E)None of the above
Ans. (D) Employee Stock Option Scheme
12.Many a times we come across an acronym BOLT which is used in Infrastructure financing. What is the full form?
(A)Build, Operate, Lend, Transfer
(B)Build, Operate, Lease, Transfer
(C)Build, Own , Lease, Transfer
(D)Build, Observe, Lend , Transfer
(E)None of the above
Ans. (B) Build, Operate, Lease, Transfer
13.Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of which of the following?
(A)ICICI Bank
(B)State bank of India
(C)Reserve Bank of India
(D)Securities and Exchange Board of India
(E)None of the above
Ans. (C) Reserve Bank of India
14.Many a times we read about “Circuit Breakers” in share markets. They are temporary measures which halt the trading on which of the following occasion?
(A)On special days
(B)When a new share is traded for the first time
(C)When the prices of particular stock’s) rises or falls by a specified amount in specified time
(D)When trading of a particular stock(s) has rises beyond a specified volume
(E)all of the above
Ans. (C) When the prices of particular stock(s) rises or falls by a specified amount in specified time
15.Which among the following defines ‘currency depreciation” of a currency?
(A)Fall in the exchange rate of one currency in terms of other currencies
(B)Fall in the exchange rate of other currencies in terms of one currencies
(C)Decrease in the volume of a particular currency
(D)Increase in the exchange rate of a currency
(E)none of the above
Ans. (A) Fall in the exchange rate of one currency in terms of other currencies
16.What is the relationship between ‘Dear money’ & ‘Cheap money’ in Economics Terminology?
(A)Both of the terms are synonyms
(B)Both of them are antonyms
(C)They are unrelated in terms of their meaning
(D)Dear Money is white Money , cheap money is black money
(E)None of the above
Ans. (E) they are antonyms. Dear money is available at exceptionally high rate of interest and cheap money is available at very low rates
17.Which among the following strictly means ‘Depreciation’?
(A)Selling a commodity on a foreign market at a price above marginal cost
(B)Selling a commodity on a foreign market at a price below marginal cost
(C)Selling a commodity on a foreign market at a price at marginal cost
(D)Selling a commodity on a foreign market at a price above Total cost
(E)None of the above
Ans. (B) Selling a commodity on a foreign market at a price below marginal cost. Dumping may be done to dispose of temporary surplus in order to avoid a reduction in home prices.
18.Which among the following is correct about Giffin Goods?
(A)They obey laws of demand
(B)They don’t obey laws of demand
(C)They follow elasticity of demand
(D)The demand supply curve of Giffin Goods is a parabola
(E)None of the above
Ans. (B) They don’t obey laws of demand. Giffin goods don’t obey the price elasticity of demand. The demand increases as the price increases.
19.Minting of Government medals is done at following places?
(A)Hoshangabad
(B)Nasik & Dewas
(C)Kolkata & NOIDA
(D)Mysore and Mumbai
(E)Kolkata & Hyderabad
Ans. (C) Kolkata & Noida
20.The concept of weaker sections under ‘priority sector’ was introduced on the recommendation of which of the following committees?
(A)Krishnaswami Committee
(B)Varshney Committee
(C)Gadgil Committee
(D)Abid Hussain Committee
(E)Tandon Committee
Ans. (A) Krishnaswami Committee
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