IMPORTANT BANKING AWARENESS QUESTIONS SET -12

Banking awareness plays a vital role in the General knowledge section.So, start preparing for your mains examination and score more marks by practicing these quizzes.

1) FCNR is a Fixed Deposit Foreign Currency account and not a savings account.What is the abbreviation of FCNR?

a) Financial Currency Non-Residents account deposits

b) Foreign Currency Non-Residents account deposits

c) Foreign Currency Non-Repatriable account deposits

d) Financial Currency Non-Repatriable account deposits

e) Financial Currency Non-Residents account deposits

2) NRO Account refers to funds deposited with an Indian financial institution opened by an Indian national with the intention of becoming a NRI.What is the abbreviation of NRO?

a) Non-Revenue Officer

b) Non-Residential Officer

c) Non-Revenue Ordinary

d) Non-Residential Ordinary

e) Non-Residential Origin

3) EEFC is an account maintained in foreign currency with an authorised dealer ( a bank dealing in foreign exchange).What is the abbreviation of F in EEFC?

a) Fiscal

b) Finance

c) Foreign

d) File

e) Fund

4) Term Deposits are investment deposits made for a predetermined period of time, ranging from a few months to several years.Term Deposits are also known as _____

a) Fiscal Deficit

b) Time Deficit

c) Demand Deficit

d) Demand Deposits

e) Time Deposits

5) _______ accounts means a deposit received by the bank, which is withdrawable on demand.

a) Fiscal Deposit

b) Term Deposit

c) Demand Deposits

d) Demand Deficit

e) Time Deposit

6) What is the abbreviation of CASA?

a) current and simple account

b) capital and savings account

c) central and statistical accounts

d) current and saving accounts

e) cash and saving accounts

7) _______ is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date

a) Fixed Deposit

b) Term Deposit

c) Time Deposit

d) Demand Deposit

e) Bulk Deposit

8) _________ means a form of non-interest bearing demand deposit where from withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount.

a) Demand Account

b) Bulk Account

c) Foreign Account

d) Current Account

e) Fixed Account

9) ________ means term deposit for specific period but withdrawable on giving at least one complete banking day’s notice.
a) Demand deposit

b) Bulk deposit

c) Term deposit

d) Time deposit

e) Notice deposit

10) _______ is a type of loan product having a cash credit limit with a fully savings module designed to take care of farmer’s interest.

a) Composite Cash Capital

b) Composite Cash Credit

c) Demand Cash Credit

d) Deficit Cash Credit

e) Composite Capital Credit

11) KVP is the small saving investment scheme which is a onetime investment plan.What is the abbreviation of KVP?

a) Kisan Vikas plan

b) Kisan Vikas patra

c) Koushal vikas patra

d) Koushal Vilas patra

e) Kisan Vikas portfolio

12) NSC, is an Indian Government Savings Bond, primarily used for small savings and income tax saving investments in India.What is the abbreviation of S in NSC?

a) Small

b) Service

c) Savings

d) Simple

e) Supreme

13) NSC is a popular investment scheme in which the interest offered under NSC is 7.6% currently, for April,’18- June,’18.What is the abbreviation NSC?

a) Native service certificate

b) Native savings certificate

c) National savings commision

d) National savings certificate

e) National service certificate

14) PPF is one of the best investment plans for the investors in which the lock-in period of investment is on the higher side, 15 years.What is the abbreviation of PPF?

a) Public Provisional Fund

b) Profit Provident Fund

c) Public Profit Fund

d) Provident Public Fund

e) Public Provident Fund

15) What is the maturity period of Sukanya Samriddhi Yojana?

a) 18

b) 25

c) 21

d) 22

e) 15

16) The Senior Citizen Saving Scheme or SCSS is a short-term government saving scheme meant for the Indian citizens of the age of more than ______ years.

a) 65

b) 60

c) 55

d) 70

e) 50

17) Person of indian origin is also called as ____

a) Overseas Indian

b) Foreign Indian

c) Foreign origin

d) Senior Indian

e) Foreign Overseas

18) OCI is an immigration status authorized for a foreign citizen of Indian origin to live and work in the Republic of India indefinitely. What is the abbreviation of C in OCI/

a) Co-operative

b) Citizenship

c) Cumilative

d) Credit

e) Companies

19) ______ is the record of the bank whose money is at another bank which are often used to simplify trade and foreign exchange transactions.

a) NRE account

b) NRI account

c) Demat account

d) nostro account

e) Vostro account

20) ______ can be either a company’s or an individual’s and is held in the currency of the country where money is on deposit.

a) nostro account

b) Vostro account

c) NRI account

d) NRE account

e) Demat account

Answer Key

1) c) Foreign Currency Non-Repatriable account deposits

2) d) Non-Residential Ordinary

3) c) Foreign

4) e) Time Deposits

5) c) Demand Deposits

6) d) current and saving accounts

7) a) Fixed Deposit

8) d) Current Account

9) e) Notice deposit

10) e) Composite Capital Credit

11) b) Kisan Vikas patra

12) c) Savings

13) d) National savings certificate

14) e) Public Provident Fund

15) c) 21

16) b) 60

17) a) Overseas Indian

18) b) Citizenship

19) d) nostro account

20) b) Vostro account

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THE HINDU EDITORIAL : JUNE 25, 2018

SBI CLERK PRELIMS EXAM 2018 REVIEW, ANALYSIS AND QUESTIONS ASKED IN EXAM – JUNE 24, 2018 – SHIFT 4 / SLOT 4 – DAY 2