Banking Quiz for Dena Bank PO Exam 2018

Dear Aspirants,

Banking Awareness for Dena Bank PO Exam 2018

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. Savings account with zero balance can be opened for?

(a) Persons of high net worth

(b) Employees of IT companies

(d) Companies

(e) None of the given options is true

S1. Ans.(c)

Sol. Savings account with zero balance can be opened for financial Weaker sections of society.

Q2. RBI stipulates a healthy mix of CASA in the business figures of banks. What does it denote?

(a) Customer Analysis and Savings Pattern

(b) Cost Appreciation and Selling Analysis

(d) Credit and Savings Aggregate

(e) None of the given options is true

S2. Ans.(c)

Sol. CASA Stands for Current Account and Savings Account.

Q3. Banks are authorized to sell third-party products. Which are these products?

(a) Mutual funds

(b) Term deposits

(d) Gift cheques

(e) None of the given options is true

S3. Ans.(a)

Sol. A mutual fund is an investment vehicle made up of a pool of money collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and other assets.

Q4. How does a bank establish the identity of a customer?

(a) By getting the introduction of an existing customer

(b) By following KYC norms

(d) All of the above

(e) None of the given options is true

S4. Ans.(d)

Sol. Bank establish the identity of a customer by getting the introduction of an existing customer, following KYC norms, taking AADHAR card copy.

Q5. How are minors encouraged to save money by banks?

(a) By opening the account in the name of the minor

(b) By allowing savings account to minors under guardianship

(d) By going to schools

(e) None of the given options is true

S5. Ans.(b)

Sol. Minors encouraged to save money by banks, allowing savings account to minors under guardianship.

Q6. In which situation does bank customer relationship cease?

(a) When there are complaints from the customer

(b) When the bank accepts the complaint from the customer

(d) All of the above

(e) None of the given options is true

S6. Ans.(c)

Sol. In case of, When the customer is declared of unsound mind then bank customer relationship ceases.

Q7. In case of cheque bouncing what is the permissible punishment?

(a) Imprisonment

(b) Fine equal to the value of the bounced cheque

(d) Monetary fine and imprisonment

(e) None of the given options is true

S7. Ans.(d)

Sol. Monetary fine and imprisonment, In case of cheque bouncing, is the permissible punishment.

Q8. What is the name given to deposit accounts in Indian banks of Indians who reside overseas?

(a) Non-resident accounts

(b) Non-resident ordinary account

(d) Absentee Indian accounts

(e) None of the given options is true

S8. Ans.(a)

Sol. Non-Resident bank accounts are those, which are maintained by Indian nationals and Persons of Indian origin resident abroad, foreign nationals and foreign companies in India.

Q9. Which organization pays the insurance premium for getting the bank deposits insured?

(a) RBI

(b) Individual banks

(d) There is no payment of premium

(e) None of the given options is true

S9. Ans.(b)

Sol. Individual banks pays the insurance premium for getting the bank deposits insured.

Q10. How would you differentiate between a post office savings account and a savings bank account?

(a) There is no cheque facility with post office savings accounts

(b) There is no ATM of post offices

(c) Banks can pay interest at rates decided by them while post offices have the fixed rate of interest as decided by the government

(d) Passbooks are not issued by post offices

(e) None of the given options is true

S10. Ans.(c)

Sol. Banks can pay interest at rates decided by them while post offices have the fixed rate of interest as decided by the government.

Q11. With which of the following would you identify a ‘no frills’ account with?

(a) A savings account with no minimum balance requirement

(b) A savings account not having KYC requirement

(d) Savings account opened in rural branches

(e) None of the given options is true

S11. Ans.(a)

Sol. ‘No Frills ‘account is a basic banking account. Such account requires either nil minimum balance or very low minimum balance.

Q12. ‘Account Payee Crossing’ of cheques is meant to convey which of the following

(a) Payment to the person named in the cheque

(b) Payment to the person or his authorized representative

(d) Payment to the payee named through clearing against the confirmation of collecting bank

(e) None of the given options is true

S12. Ans.(d)

Sol.

Q13. Which of the following do you think is the accepted practice for banks?

(a) Banks offer higher interest rates to senior citizens on their fixed deposits as compared to others

(b) Banks charge lesser interest from senior citizens on their personal loans

(d) Senior citizens are not permitted to use mobile banking

(e) None of the given options is true

S13. Ans.(a)

Sol. Banks offer higher interest rates to senior citizens on their fixed deposits as compared to others.

Q14. A bank customer could not get his grievance resolved by his bank even after referring his complaint to the designated official of the concerned bank. Whom should he approach next to settle the matter?

(a) Consumer protection court

(b) RBI

(d) Finance ministry

(e) SEBI

S14. Ans.(c)

Sol. The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks.

Q15. A crossed cheque has been given to you for services rendered. In what way can you get the cheque encashed?

(a) By presenting it across the counter of the bank branch

(b) By sending it through speed clearing

(d) Anyone of the above

(e) None of the given options is true

S15. Ans.(c)
Sol.