BANK Q AND A -1

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 1.

The Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Bill, 2016 was recently given legal backing by Supreme Court. This act was passed in LokSabha as a__:

[A] Ordinary Bill
[B] Money Bill
[C] Constitution Amendment Bill
[D] Financial Bill

Hide Answer

Correct Answer: B [Money Bill]
Notes:
The Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Bill, 2016 was introduced by Minister of Finance, Mr. Arun Jaitley, in Lok Sabha on March 3, 2016. The Bill intends to provide for targeted delivery of subsidies and services to individuals by assigning them unique identity numbers, called Aadhaar numbers.

2.What is the full form of PCR?

[A] Public Control Register
[B] Public Control Regulations
[C] Public Credit Registry
[D] Prompt Corrective Regulations

Hide Answer

Correct Answer: C [Public Credit Registry]
Notes:
PCR stands for Public Credit Registry. It is a digital registry of authenticated granular credit information and will work as a financial information infrastructure providing access to various stakeholders and enrich the existing credit information ecosystem.

3.What is full form of Forex?

[A] Foreign Exemption
[B] Foreign Exchange
[C] Foreign Expert
[D] Foreign Expansion

Hide Answer

Correct Answer: B [Foreign Exchange]
Notes:
Forex stands for foreign exchange. The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. This market determines the foreign exchange rate. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.

4.Any act of interference by a Central Bank like the RBI in influencing the exchange rate is referred to as which of the following in India?

[A] Dirty Floats
[B] Managed Floats
[C] Fixed Floats
[D] Market Stabilization Floats

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Correct Answer: B [Managed Floats]
Notes:
Any act of interference by a Central Bank like the RBI in influencing the exchange rate is called as ‘dirty floats’. But in India it is referred to as ‘Managed floats’.

5.Liberalized Exchange Rate Management System (LERMS) is effective from which of the following dates?

[A] June 1,1993
[B] March1,1993
[C] April1,1993
[D] July 1,1993

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Correct Answer: B [March1,1993]
Notes:
Liberalized Exchange Rate Management System (LERMS) involving the dual exchange rate was instituted after the recommendations of C. Ranagarajan Committee. It is effective from March 1, 1993.

6.Which position does India hold in Foreign Exchange Reserve?

[A] 7th
[B] 2nd
[C] 9th
[D] 3rd

Hide Answer

Correct Answer: D [3rd]
Notes:
India stands at 9th position in total Foreign Exchange Reserve with US$396,085 million as on January 4,2019.China tops the list of countries having reserve of US$ 3,053,100 million.

7.What is the full form of CARE ratings and when it was established?

[A] Credit Analysis and Research Limited,1993
[B] Credit Analysis and Research Establishment,1992
[C] Credit Arrangement and Research Enterprises,1996
[D] None of the Above

Hide Answer

Correct Answer: A [Credit Analysis and Research Limited,1993]
Notes:
Credit Analysis and Research Limited (CARE) is a credit rating, research and advisory committee promoted by Industrial Development Bank of India (IDBI), Canara Bank, Unit Trust of India (UTI) and other financial and lending institutions. It was established in 1993.

8.Personal Loans are also called as by which of the following names?

[A] Signature Loans
[B] Unsecured Loans
[C] Consumer Loans
[D] All of the Above

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Correct Answer: D [All of the Above]
Notes:
Unsecured loans (called signature loans) are advanced on the basis of the borrower’s credit-history and ability to repay the loan from personal income. Repayment is usually through fixed amount installments over a fixed term. Also called consumer loan.

9.What is the full form of NAV?

[A] Net Assessment Value
[B] National Asset Value
[C] Net Asset Value
[D] National Asset Variation

Hide Answer

Correct Answer: C [Net Asset Value]
Notes:
NAV stands for Net asset value. It is the value of an entity’s assets minus the value of its liabilities. It is used in relation to mutual funds.

10.Which of the following funds is basically an index fund which trades like a closed-end fund?

[A] Open-end fund
[B] Money market fund
[C] Mutual fund
[D] Exchange-traded fund

Hide Answer

Correct Answer: D [Exchange-traded fund]
Notes:
An ETF is a basket of stocks .It looks like a composition of an Index including many stocks like S&P CNX Nifty or BSE Sensex. The ETFs trading value is based on the net asset value of the underlying stocks that it represents.

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