Banking Quiz for IBPS Clerk Mains and IPPB Officers Exam 2017

Q1. What is the minimum balance should be, in a Cheque account of Post Office Saving Schemes?
(a) Rs 2500
(b) Rs 500
(c) Rs 1000
(d) Rs 2000
(e) Rs 1500

Q2. What is the advantage of sending money to someone through money order?
(a) The money is delivered at his/her siblings’s house only.
(b) The money is delivered at his/her birthplace only.
(c) The money is delivered at his/her Native Land only.
(d) The money is delivered at the house or his/her place of stay.
(e) None of the given options is true

Q3. A ____________ is the person named in money order as the person to whom the money is to be paid.
(a) payee
(b) drawer
(c) banker
(d) drawee
(e) lender


Q4. What is the minimum balance should be, in a non-Cheque account of Post Office Saving Schemes?
(a) Rs 100
(b) Rs 150
(c) Rs 50
(d) Rs 500
(e) Rs 300


Q5. IMO of India Post is the instant on-line money transfer service that is convenient, reliable and affordable. IMO stands for-??
(a) Indian Money Order
(b) Initial Money Order
(c) Invest Money Order
(d) Instant Management Order
(e) Instant Money Order


Q6. What is the maximum Daily ATM cash withdrawal limit in Post Office Saving Schemes??
(a) Rs 25000
(b) Rs 20000
(c) Rs 15000
(d) Rs 10000
(e) Rs 5000

Q7. How much amount can transfer money from _________ to ___________ from designated IMO Post Offices.
(a) Rs 5,000 to Rs 1,00,000
(b) Rs 1,000 to Rs 50,000
(c) Rs 10,000 to Rs 1,50,000
(d) Rs 100 to Rs 10,000
(e) Rs 2,00,000 to Rs 5,00,000

Q8. What is the Free limit of (Both Financial & Non Financial) transactions per day ATM cash withdrawal in Post Office Saving Schemes in Metro cities??
(a) 5 free transactions
(b) 7 free transactions
(c) 3 free transactions
(d) 2 free transactions
(e) 9 free transactions

Q9. Customer is required to tear off the seal and convey the confidential _________ IMO number to the receiver over phone, SMS, e-mail, etc. at his means and risk.
(a) 18 digits
(b) 20 digits
(c) 24 digits
(d) 16 digits
(e) 28 digits


Q10. What is the commission charges of Rs 10,001 to Rs 30,000 in IMO Booking Procedure?
(a) Rs 150
(b) Rs 120
(c) Rs 130
(d) Rs 100
(e) Rs 110

Q11. IFS is software developed by UPU to coordinate international remittance services among the partner countries. At present the service is operational with La Poste Group, France and UAE.? IFS stands for-
(a) International Financial Scheme
(b) Indian Financial System
(c) International Fund System
(d) International Financial System
(e) International Financial Service

Q12. IFS Money Order service is India Post’s own service. What is the feature of IFS Money Order?
(a) Remittances can be received at any of the 17,500 post offices on eMO network.
(b) The Payee receives the full amount in Indian Rupees.
(c) Maximum of 30 transactions per person per year.
(d) Remittances up to INR 50,000 can be received in cash.
(e) All of the above are features of IFS Money Order services

Q13. Department of Post’s (DOP) MMT is a service that enables instant money tra?nsfer from one place to another place using mobile, through Indian post offices. What is the meaning of “T” in MMT? 
(a) Trust
(b) Transfer
(c) Timely
(d) Transaction
(e) Tructed

Q14. ______________ is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India by India Post. 
(a) EMO network
(b) International Financial System
(c) Money Transfer Service Scheme
(d) National Electronic Funds Transfer
(e) Society for Worldwide Interbank Financial Telecommunication

Q15. As a result of the collaboration of the Department of Posts, Government of India with the Western Union Financial Services, a state of the art International Money transfer Service is now available through the Post Offices in India, which enables instantaneous remittance of money from around ____________ countries and territories to India. 
(a) 195 countries
(b) 415 countries
(c) 115 countries
(d) 135 countries
(e) 295 countries