Banking and Financial Awareness for IBPS/BOM Exams |

Q1. BBPS is an integrated bill payment system which will offer interoperable bill payment service to customers online as well as through a network of agents on the ground. BBPS stands for?

(a) Bharat Bill People Service

(b) Bharat Bench Payment System

(d) Bench Bill Payment Service

(e) Bharat Bill Payment System

Q2. __________ is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature.

(a) ECS

(b) RTGS

(d) ATM

(e) None of the above

Q3. The MICR Code is a numeric code that uniquely identifies a bank-branch participating in the ECS Credit scheme. How many digits are there in this Code?

(a) Two

(b) Sixteen

(d) Eleven

(e) Five

Q4. The term ‘Smart Money” refers to __________ .

(a) Foreign Currency

(b) Internet Banking

(d) Travelers’ cheques

(e) Credit Cards

Q5. The part of a company’s earnings or profits which are paid out to shareholders is known as-

(a) capital gains

(b) taxes

(d) dividends

(e) penal interest

Q6. When the rate of inflation increases-

(a) purchasing power of money increases

(b) purchasing power of money decreases

(d) purchasing power of money remains unaffected

(e) amount of money in circulation decrease

Q7. In recent years it has been recognized increasingly that a large segment of the rural population is out of the reach of the formal banking services. Which of the following is the name of the concept floated to bring most of these rural persons in hte net of financial and banking services?

(a) Corporate Governance

(b) Financial Inclusion

(d) Credit Management

(e) Risk Management

Q8. When the growth of GDP in a country slows down suddenly, people start losing their jobs and the situation continues for several weeks, what name is given to this state of economy (A big country was in this state recently)?

(a) Inflation

(b) Recession

(d) Economic boom

(e) None of the above

Q9. In economic terms, the total market value of all final goods and services produced in a country in a given year is known as………?

(a) GNI

(b) GDP

(d) PPP

(e) wealth of a nation

Q10. GNP stands for-

(a) Gross National Product

(b) Group Net Product

(d) Group Network Process

(e) None of the above

Q11. As we all know Ministry of Finance every year prepares Union Budget and presents it to the Parliament . Which of the following is/ are the elements of the Union Budget?

(1) Estimates of revenue and capital receipts

(2) Ways and Means to raise the revenue

(3) Estimates of expenditure

(a) Only 1

(b) Only 2

(d) All 1, 2 & 3

(e) None of the above

Q12. Which is not a monetary measure to control inflation ?

(a) Soft loan policy

(b) Hard credit policy

(d) To reduce the quantity of money

(e) None of the above

Q13. Inflation is measured in India on the basis of which index?

(a) Consumer price index

(b) Wholesale price index

(d) Market forces

(e) None of the above

Q14. Where is the Headquarters of World Trade Organisation?

(a) New Delhi

(b) New York

(d) Rome

(e) None of the above

Q15. Where is the head office of the International Monetary Fund (IMF)?

(a) Paris

(b) New York

(d) Dhaka

(e) Beirut

Solutions

S1. Ans.(e)
S2. Ans.(a)
S3. Ans.(c)
S4. Ans.(e)
S5. Ans.(d)
S6. Ans.(b)
S7. Ans.(b)
S8. Ans.(b)
S9. Ans.(b)
S10. Ans.(a)
S11. Ans.(d)
S12. Ans.(a)
S13. Ans.(b)
S14. Ans.(c)
S15. Ans.(c)