Banking Awareness Quiz for Bank Exams 2021- 29th April

Q1. The first introduction of Mutual Funds in India occurred in which of the following years?
(a) 1965
(b) 1963
(c) 1967
(d) 1973
(e) 1983

Q2. Which is the first bank to launch the mutual fund?
(a) Bank of India
(b) Punjab National Bank
(c) State Bank of India
(d) Vijaya Bank
(e) None of these

Q3. Which of the following organizations is the Mutual Fund market regulator in India?
(a) SIDBI
(b) CIBIL
(c) RBI
(d) SEBI
(e) None of these

Q4. What is the full form of NAV?
(a) Net Asset Value
(b) Net Assessment Value
(c) National Asset Value
(d) Net Accurate Value
(e) None of these

Q5. SIP is a
(a) Systematic Planning of India
(b) Brand of Tea Stock
(c) Method of regular investment
(d) Method of irregular investment
(e) None of these

Q6. Funds which combined the features of Open-Ended and Close-Ended funds are known as which of the following?
(a) Balance funds
(b) Liquid funds
(c) Special funds
(d) Interval funds
(e) None of the Above

Q7. Which type of Fund is required to be listed on Stock Exchange?
(a) Debit Fund
(b) Liquid Fund
(c) Close Ended Fund
(d) Special Fund
(e) None of these

Q8. Which of the following mutual funds solely invests in stocks?
(a) Fixed Income Fund
(b) Equity Fund
(c) Money Market Mutual Fund
(d) Bond Fund
(e) None of these

Q9. SEBI stands for ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.
(a) Stock Exchange Board of India
(b) Safety and Exchange Board of India
(c) Security and Experiment Board of India
(d) Securities and Exchange Board of India
(e) None of these

Q10. Which of the following best define an open-funded mutual fund?
(a) It has fixed fund size.
(b) It has an option to invest in any kind of security.
(c) It does not have a NAV.
(d) It has units available for sale and repurchase at all times.
(e) None of these

Practice More Questions of Banking Awareness for Competitive Exams:

Solutions

S1. Ans.(b)
Sol. The mutual fund industry in India began in 1963 with the formation of the Unit Trust of India (UTI) as an initiative of the Government of India.

S2. Ans.(c)
Sol. First bank is State Bank of India who launched mutual fund.

S3. Ans.(d)
Sol. SEBI has laid down the guidelines for effective functioning and governance of mutual funds.

S4. Ans.(a)
Sol. Net asset value (NAV) is the value of a fund’s asset less the value of its liabilities per unit.

S5. Ans.(c)
Sol. A SIP or Systematic Investment Plan is Method of regular investment.

S6. Ans.(d)
Sol. Interval funds combine features of both open-ended and close-ended schemes.

S7. Ans.(c)
Sol. Close Ended Fund is required to be listed on Stock Exchange.

S8. Ans.(b)
Sol. Equity funds are mutual funds that invest only in common stock.

S9. Ans.(d)
Sol. The Securities and Exchange Board of India is the regulator of the securities and commodity market in India owned by the Government of India.

S10. Ans.(d)
Sol. It has an option to invest in any kind of security. It has units available for sale and repurchase at all times.

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