Banking Awareness Questions for IBPS RRBs PO and Clerk Exam 2017

Just a few months are left for IBPS RRBs Mains It is time to pace up your preparation of Banking Awareness for IBPS RRB PO and Clerk Mains. These Banking questions will also help you in preparing for other upcoming banking recruitment examination.

Q1. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as _________

(a) SWIFT

(b) Basel

(c) RTGS

(d) NEFT

(e) AIIB

Q2. Which of the following is not a ‘Money Market Instrument’?

(a) Treasury Bills

(b) Commercial Paper

(c) Certificate of Deposit

(d) Equity Shares

(e) None of the given options is true

Q3. When there is a difference between all receipts and expenditure of the Govt. of India, both capital and revenue it is called _______

(a) Income Deficit

(b) Fiscal Deficit

(c) Budgetary Deficit

(d) All of the Above

(e) None of the given options is true

Q4. With reference to a cheque which of the following is the ‘drawee bank’?

(a) The bank that collects the cheque

(b) The payee’s bank

(c) The endorser’s bank

(d) The bank upon which the cheque is drawn

(e) None of the given options is true

Q5. Banks issue a letter to the beneficiary on behalf of its constituents like the guarantee for making payment on their behalf on the fulfilment of its terms and conditions. What is this arrangement known in banking context?

(a) Line of Credit

(b) Loan to Client

(c) Loan on Credit

(d) Letter of Credit

(e) None of the given options is true

Q6. ______________ is basically charged when a person uses a credit card to obtain cash.

(a) Early Repayment Charge

(b) Redemption Fee

(c) Transaction Fee

(d) Cash Advance Fee

(e) None of the given options is true

Q7. Which is an interest-free period that is to be given by a creditor to the debtor?

(a) Fixed Period

(b) Present Period

(c) Grace Period

(d) All of the Above

(e) None of the given options is true

Q8. ________ is a cheque rather an amount of cheque, which is above the balance available in the account of the payer.

(a) Travellers cheque

(b) Multicity Cheque

(c) Mutilated Cheque

(d) Over Draft

(e) Bad Debts

Q9. A cheque for a fixed amount that may be cashed or used in payment abroad after endorsement by the holder’s signature is known as ___________

(a) Travellers Cheque

(b) Multicity Cheque

(c) Mutilated Cheque

(d) Crossed Cheque

(e) None of the given options is true

Q10. Which of the following is not a measure of the Risk Management in Banks?

(a) CRR

(b) RTGS

(c) SLR

(d) Deposit Insurance

(e) None of the given options is true

Q11. ICRA, CRISIL, and Standard and Poor’s (S&P) are?

(a) Financial Institutions

(b) NGOs

(c) NBFCs

(d) Credit Rating Agencies

(e) None of the given options is true

Q12. Which of the following is not a member of the World Bank Group?

(a) International Development Association (IDA)

(b) International Bank for Reconstruction and Development (IBRD)

(c) International Finance Corporation (IFC)

(d) Bank of International Settlement (BIS)

(e) Multilateral Investment Guarantee Agency (MIGA)

Q13. Indian Banking Regulation Act was passed in the year-

(a) 1989

(b) 1968

(c) 1949

(d) 1948

(e) 1935

Q14. Which of the following is an apex institution in the field of Industrial Finance?

(a) Industrial Reconstruction Bank of India

(b) Industrial Finance Corporation of India

(c) Industrial Development Bank of India

(d) Industrial Credit & Investment Corporation of India

(e) None of the given options is true

Q15. The beneficiary can expect to get credit for the NEFT transactions within ______ business hours.

(a) two

(b) three

(c) one

(d) four

(e) ten

Banking Awareness Questions for IBPS RRBs PO and Clerk Exam 2017 (Solutions)