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IIBF BC or BF Questions

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Q.1 Which of the Following definitions is most correct? UCPDC 500 is:

Ans. Set Of Rules Framed by ICC governing LC business Globally.

Q.2 Currency notes are issued by

Ans. RBI

Q.3 Bank does not give loan against

Ans. Lottery Ticket

Q.4 Bank having maximum number Of Branches in India

Ans. State Bank Of India

Q.5 100/- Rupee note is signed by

Ans. RBI Governor

Q.6  Who is the Present Governor Of RBI

Ans. Shaktikanta Das

Q.7 E Or S Means

Ans. Either or Survivor

Q.8 Bank does not provide loans for

Ans. Drinking & Gambling

Q.9 KYC Means

Ans. Know your Customer

Q.10 PPF means

Ans. Public Provident Fund

Q.11 Coins are issued by

Ans. Government Of India

Q.12 The Modern Bank Ltd., should have minimum Of Rs– Crores as Tier I Capital at the rate of minimum Of % respectively as per RBI guidelines applicable to Indian Banks.

Ans. 2700,4.50%

Q.13 Which Of the following statement is correct?

Ans. Foreign Exchange markets are dynamic and round the clock markets.

Q.14 If market quotes USD/INR as 43.61/63, at what rate can you buy USD at the given quote:

Ans. 43.63

Q.15 Bank does not give loan against

Ans. Lottery tricket

Q.16 A correspondent in Japan wants to fund his Vostro account for Rs 10.00 million. At USD/INR at 63.56/57 and JPY at 109.60/70, how much JPY should the correspondent pay into your Nostro account with him, assuming no margins are loaded:

Ans. 251762

Q.17 Minimum age required to open SB account in the bank

Ans. 10 Years

Q.18 Highest denomination of currency notes issued by RBI is

Ans. Rs. 1,000/-

Q.19 NRI means

Ans. Non Resident Indian

Q.20 PAN means

Ans. Permanent Account Number

Q.21 Who is the present Union Finance Minister Of India?

Ans. Nirmala Sitharaman

Q.22 Business Correspondent means

Ans. An agent who provides Banking Services

Q.23 Internet banking refers to

Ans. Operation Of account through internet

Q.24 Nomination Once done Can

Ans. Be Cancelled

Q.25 What is the amount of Overdraft Facility Sanctioned Under PMJDY is Classified as MUDRA loans under PMMY?

Ans. 5,000/-

Q.26 The loans Sanctioned By banks / NBFCs / MFIs On or after ——upto, 10 lacs for Small Business income generating activities are Known as PMMY loans.

Ans. 08-Apr-15

Q27. Who is eligible to get the MUDRA Loans under PMMY out of following borrowers?
Ans. Small fruit vendors, vegetables sellers etc.

Q.28 ATM means
AnsAutomated Teller Machine

Q.29 PMMY Loan is given for which purpose?

Ans. Income Generation Purpose

Q.30 What are the Collateral / securities to be kept with banks for getting loans for MSE under PMMY?

Ans. NIL

Q.31 From where the PMMY loan can be availed?

Ans. Public Sector Banks, Private Sector Banks, Foreign Banks, Cooperative Banks,

Q.32 What is the role Of Mudra under PMMY loans?

Ans. Acts as a Refinance Agency and Refinances to all banks, NBFCs, MFIs for onward lending to customers under different categories of PMMY loans, as per need of the customer.

Q.33 The borrowers can avail the credit in a hassle free and flexible manner with the MUDRA CARD which is a—–

Ans. Debit Card with Sanctioned limit

Q.34 MUDRA Card is a debit card on which payment platform?

Ans.Rupay

Q.35 Who issue the MUDRA Card to customer?

Ans. Banks either directly or in association with MFLs

Q.36 PMMY loans are applicable to—–?

Ans. all banks all over india

Q.37 PPMY Loans are provided for what Tenure?

Ans. Depends on Cash flows of the business and decided by the lending Institution

Q.38 What are the Interest rates of the PMMY loans extended by Banks, NBFCs, MFLs to the borrowers?

Ans. Reasonable rates decided by lending banks, NBFCs, MFLs that should fall within the overall RBI Guidelines

Q.39 Where are the Frequently Asked Question (FAQs) on PMMY Loans available for information of the Lending Institutions / public?

Ans. MUDRA website

Q.40 Who monitors the Implementation of PMMY progress at National level?

Ans. MUDRA / Department of Financial Service

Q.41 Sample Project Profiles for running or setting up of micro/small enterprises is available at——-

Ans. MUDRA Website

Q.42 MUDRA has been set up by whom?

Ans. Government Of India

Q.43 Maximum amount of Cheque

Ans. No limit

Q.44 Pan Number is required for

Ans. Deposit Rs.50,000/- & above

Q.45 TDS means

Ans. Tax Deducted at Source

Q.46 What is the Purpose for which MUDRA loan can be availed for Carrying On any activity related to——-?

Ans. Manufacturing, Processing, Trading, Services

Q.47 What does PMMY Stand For?

Ans. Pradhan Mantri Mudra Yojana

Q.48 Loan of ‘ 5 lacs is covered under which Category?

Ans. Kishore

Q.49 How much loan can be availed under ” Shishu” Category?

Ans. 50,000/-

Q.50 What is the maximum loan amount available under PMMY?

Ans. 10.00 lacs

Q.51 Life Insurance means

Ans. Insurance Of Human

Q.52 Defaulter Of Loan means

Ans. Not paying loan installments

Q.53 PMJDY LIC Insurance Of Rs.30,000/- is available for first time accounts opened

Ans. Between 15 August 2014 and 26 January 2015

Q.54 Under APY, Fixed Pension can be chosen from:

Ans. Rs. 1,000/-, Rs.2,000/-, Rs.4,000/-, Rs. 5,000/-

Q.55 Can illiterate Person be issued Debit Card?

Ans. Yes

Q.56 Under PMSBY, partial disability claim is available for:

Ans. Rs. 1 lac

Q.57 Under PMSBY, accidental death claim is available for:

Ans. Rs.2 lac

Q.58 What is validity period of Cheque?

Ans. 3 months from date of Issue

Q.59 Which type of deposits earns higher interest rate?

Ans. Fixed Deposit

Q.60 What is Pradhan Mantri Jivan Jyoti bima yojana (PMJJBY)?

Ans. Covers life insurance up to Rs.2 lac

Q.61 What is Pradhan Mantri Suraksha Bima Yojana (PMSBY)?

Ans. Accidental Insurance Cover

Q.62 What is the minimum deposit required while opening a BSBD Account?

Ans. No Minimum deposit required

Q.63 What is the maximum amount Of deposits acceptable in Small accounts?

Ans. Rs. 50,000/-

Q.64 Who is Bank Mitra?

Ans. Banking Correspondents engaged by Banks

Q.65 What is meant by Aadhaar Seeding?

Ans. Linking Of Aadhaar with Bank Account

Q.66 What is Direct Benefit Transfer?

Ans. Transfer Of Social Benefits / Subsidies directly in Bank accounts of beneficiaries

Q.67 Maximum Tenure Of Fixed Deposit is

Ans. 10 Years

Q.68 As per Reserve Bank Of India directives the Minimum Capital Adequacy Ratio and minimum Tier I Capital the Modern Bank is required to maintain as On 31.03.2007 should be—-respectively.

Ans. 9% and 4.5 %

Q.69 Interest rate risk is a type of 

Ans. Market risk

Q.70 If the Volatility per annum is 25% and the number of trading days per annum is 252, Find the Volatility per day.

Ans. 1.58%

Q.71 Contents Of locker are

Ans. Only Known to hirer

Q.72 Net Interest Income is

Ans. Difference between interest earned and interest paid

Q.73 MGNREGS Stands for

Ans. Mahatma Gandhi National Rural Employment Guarantee Scheme

Q.74 Interest On FDRs is Compounded on

Ans. Quarterly Basis

Q.75 Fixed Deposit Can

Ans. Withdrawn before maturity

Q.76 Upon detection Of a counterfeit note at the counter, Bank 

Ans. Impound the Note and issue receipt

Q.77 Mutilated notes

Ans. Can be exchanged at Bank

Q.78 Interest On Savings Bank Deposits is paid

Ans. Half yearly

Q.79 Account payee cheques can be paid

Ans. By deposit in Bank account

Q.80 Payment of cheque can be stopped by

Ans. Drawer of cheque

Q.81 Based on the Gross Income given above, the likely Capital Charge for Modern Bank Ltd., as on March 31, 2007 to cover Operational Risk Under Basic Indicator Approach Shall be

Ans. 450 Crores

Q.82 The Modern Bank Ltd., Will require total Capital Funds For Covering Credit Risk. As on March 31, 2007 to Comply Based II norms Of Rs.—–Crores.

Ans. 5400 Crore

Q.83 All PMMY Loans will be governed by–, Formulated by MUDRA, in Consultation with DFS, rating agencies, MFIN and Sa-Dhan and Other Stakeholders For adoption by all the lending institutions.

Ans. MUDRA Loan Charter

Q.84 The Basel Committee has defined gross income as net interest income and plus net non-interest income and has allowed each relevant national Supervisor to Define Gross Income in accordance with the prevailing accounting practices. Accordingly the Reserve Bank Of Indian in the draft guidelines issued on 11.03.2005 for implementation Of the new Capital adequacy framework has modified the Gross Income definition slightly. The Net Interest Income has been replaced by

Ans. Net Profit

IIBF Exam Latest Questions

Q.85 We should keep our savings with banks because

a) It is safe

b) Earns interest

c) Can be withdrawn anytime

d) All of above

Q.86 ATM password to be shared only with

a) Spouse

b) Obedient son

c) Obedient daughter

d) None of above

Q.87 Nomination can be done in

a) Savings Bank account

b) Recurring Deposit account

c) Fixed Deposit account

d) All of above

Q.88 is the logo of

a) Pradhan Mantri Jan Dhan Yojana

b) Central Bank of India

c) Reserve Bank of India

d) None of above

Q.89. Loans from money lenders are

a) With High rate of interest

b) No proper accounting

c) No transparency

d) All of above

Q.90 Timely repayment of loans results

a) Good reputation

b) No tension

c) Easily availability of loan in future

d) All of above

Q.91 Defaulter of loan means

a) Not paying loan instalments

b) Bad reputation

c) Illegal activities

d) None of above

Q.92 General Insurance relates to insurance against

a) Fire

b) Theft

c) Burglary

d) All of above

Q.93 Aadhaar is

a) 12 digit number card

b) Identity proof issued by
UIDAI

c) Both (a) & (b)

d) None of above

Q.94 Which is prohibited for writing on currency notes?

a) Political message

b) Religious message

c) Personal message

d) All of above

Q.95 PAN means

a) A kind of utensil

b) Primary Account Number

c) None of above

Q.96 Which currency note has security thread?

a) Rs.50/-

b) Rs.100/- c) Rs.500/-

d) All of above

Q.97 Gold and silver ornaments should be kept in bank lockers

a) It is safe

b) No risk of theft

c) Both (a) & (b)

d) None of above

Q.98 Bank Pass Book is

a) Issued by Bank

b) Contains transaction details of Bank account

c) Shows balance in account

d) All of above

Q.99 Education Loans

a) Cover tuition fee & expenses

b) Are repayable after

completion of course

c) Granted for studies in India &
abroad
d) All of above

Q.99 Who can open bank account?

a) Indian citizen

b) Non Resident Indian

c) Illiterate

d) All of above

Q.100 Bank draft is issued by

a) Private Sector Banks

b) Regional Rural Banks

c) Public Sector Banks

d) All of above

Q.101 Self Help Group involves

a) Group of 5 to 20 people

b) Regular saving habits

c) Inter-lending within the group members

d) All of above

Q.102 Payment of cheque can be stopped by

a) Beneficiary

b) Nominee

c) Drawer of cheque

d) All of above

Q.103 While making nomination, signature of nominee is required on

a) Account Opening Form

b) Nomination form

c) Affidavit

d) None of above

Q.104 ATM can be used for

a) Cash withdrawal

b) Account enquiry

c) Statement of account

d) All of above

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