General Awareness Quiz for ECGC PO & Bank Mains Exams 2021- 11th February

Q1. How many types of deposit accounts?
(a)Current accounts
(b)Savings accounts
(c)Call deposit accounts
(d)Money market accounts
(e)All of these

Q2. How many types of deposit are there?
(a)Time deposits
(b)Demand deposits.
(c)Both A and B
(d)Deposit accounts
(e)None of these

Q3. ____________ account is opened by the investor while registering with an investment broker.
(a)De-materialized Account
(b)Fixed Deposit Account
(c)Saving Bank Account
(d)Recurring Account
(e)Permanent Account

Q4. What are the 4 types of bank accounts?
(a)Checking Account
(b)Savings Account
(c)Money Market Deposit Account
(d)Certificate of Deposit
(e)All of the above

Q5. Nomination facilities are available,
(a)In deposit accounts
(b)On articles deposited for safe custody
(c)On safe deposit lockers
(d)All of the above
(e)None of these

Q6. Which of the following are accepted as a means of introduction of a savings/time deposits account?
(a)Identity card issued by a government department the municipality, educational institution
(b)A Passport
(c)Postal identification card
(d)All of the above
(e)None of the above

Q7. A basic type of deposit account that can be withdrawn anytime the depositor decides to is called _________.
(a)Current account
(b)Checking account
(c)Savings account
(d)Timed deposit account
(e)Debit account

Q8. Which type of deposits gives highest rate of interest?
(a)Current deposit
(b)Recurring deposit
(c)Fixed deposit
(d)Demand deposit
(e)Consumer deposit

Q9. How many types of Deposit accounts are offered by Bank?
(a)2
(b)3
(c)4
(d)5
(e)6

Q10. What is the most common type of time deposit?
(a)Current account
(b)Salary account
(c)Loan
(d)Fixed deposits
(e)None of The Above

Q11. ___________is a type of deposit account that caters to professional and business alike?
(a)Current account
(b)Fixed deposit account
(c)Saving bank account
(d)Recurring account
(e)Deposit account

Q12. Which of the following is a transactional deposit account held at a financial institutional that allow for withdrawal and deposits?
(a)Deposit account
(b)Checking account
(c)Capital account
(d)Business account
(e)Loan account

Q13. Which of the following is an account at a bank or credit union that earns interest over a specified amount of time?
(a)Interest bearing account
(b)Regular checking account
(c)Saving bank account
(d)De-materialized account
(e)None of these

Q14. Which of the following is the placement of funds in an account with a bank?
(a)Loan
(b)Foreign currency
(c)Bank deposit
(d)All of the above
(e)None of these

Q15. It requires higher initial deposits and maintaining balance to earn interest is called?
(a)Savings account
(b)Checking account
(c)Selling account
(d)Timed deposit account
(e)None of these

Solutions

S1.Ans(e)
Sol. There are several different types of deposit accounts including current accounts, savings accounts, call deposit accounts, money market accounts, and certificates of deposit.

S2.Ans(c)
Sol. There are two types of deposit accounts that you can open in a bank, time deposits and demand deposits.

S3.Ans(a)
Sol. DEMET or De-materialized Account refers to a deposit made at Indian financial institution that can be used for investing in share of stock and other financial assets.

S4.Ans(e)
Sol. The 4 types of bank accounts are
-Checking Account
-Savings Account
-Money Market Deposit Account
-Certificate of Deposit

S5.Ans(d)
Sol. Nomination facilities are available on in deposit accounts, on articles deposited for safe custody, On safe deposit lockers.

S6.Ans(d)
Sol. Introduction of a savings/time deposits account Identity card issued by a government department the municipality, educational institution, A Passport, Postal identification card.

S7.Ans(a)
Sol. A current account, also called a demand deposit account, is a basic checking account. Consumers deposit money and the deposited money can be withdrawn as the account holder desires on demand.

S8.Ans(c)
Sol. Fixed Deposits – To earn a higher interest rate.

S9.Ans(a)
Sol. Primarily, banks offer two kinds of deposit accounts. These are demand deposits like current/saving account and term deposits like fixed or recurring deposits.

S10.Ans(d)
Sol. Fixed Deposit (FD) is a financial instrument that provides safe and guaranteed return on your investment. It helps investors save some money for their future.

S11.Ans(a)
Sol. Current account is a type of deposit account that caters to professional and business alike.

S12.Ans(b)
Sol. Checking account which pays interest are sometime refer to as a negotiable order of withdrawal account.

S13.Ans(a)
Sol. An interest-bearing account that typically pays a higher interest rate than a saving account, and which provides the account holder with limited check writing ability.

S14.Ans(c)
Sol. A bank deposit involves the placement of funds into an account with a bank.

S15.Ans(a)
Sol. A savings account is an interest-bearing deposit account held at a bank it requires higher initial deposits and maintaining balance to earn interest.

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