Banking miscellaneous: Test 1

10 questions · 15 minutes · scoring and calculator rules shown before you begin

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Miscellaneous Test 1: questions and answers

Take the test first if you want an honest score. The answers and solutions below are folded away until you open them.

  1. 1. The financial year in India runs from
    1. 1 July to 30 June
    2. 1 January to 31 December
    3. 1 April to 31 March
    4. 1 October to 30 September

    Reference: q-54ac83f4-38 · Report this question

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    Answer: C. 1 April to 31 March

    The Indian financial year starts on 1 April and ends on 31 March.
  2. 2. Which body regulates the securities market in India?
    1. RBI
    2. NABARD
    3. SEBI
    4. IRDAI

    Reference: q-13e73296-53 · Report this question

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    Answer: C. SEBI

    The Securities and Exchange Board of India (SEBI) regulates the securities market.
  3. 3. Which body regulates the insurance sector in India?
    1. RBI
    2. PFRDA
    3. SEBI
    4. IRDAI

    Reference: q-7f88fba4-52 · Report this question

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    Answer: D. IRDAI

    The Insurance Regulatory and Development Authority of India (IRDAI) regulates insurance.
  4. 4. The term "plastic money" refers to
    1. Coins
    2. Polymer currency notes
    3. Credit and debit cards
    4. Cheques

    Reference: q-ddab7df0-35 · Report this question

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    Answer: C. Credit and debit cards

    Cards used in place of cash are called plastic money.
  5. 5. A sustained rise in the general level of prices of goods and services is called
    1. Recession
    2. Devaluation
    3. Inflation
    4. Deflation

    Reference: q-a68c721d-80 · Report this question

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    Answer: C. Inflation

    Inflation is a continued rise in the general price level.
  6. 6. A loan is classified as a non-performing asset if interest or principal remains overdue for more than
    1. 30 days
    2. 60 days
    3. 90 days
    4. 180 days

    Reference: q-85c9c331-102 · Report this question

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    Answer: C. 90 days

    An account becomes an NPA when it is overdue for more than 90 days.
  7. 7. Bancassurance means
    1. Insurance of bank deposits
    2. Insurance of bank lockers
    3. Loans given by insurance companies
    4. Selling insurance products through banks

    Reference: q-642535e0-20 · Report this question

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    Answer: D. Selling insurance products through banks

    Bancassurance is the sale of insurance products through bank branches.
  8. 8. The Pradhan Mantri Jan Dhan Yojana is mainly aimed at
    1. Skill development
    2. Rural housing
    3. Financial inclusion
    4. Crop insurance

    Reference: q-8e8d9e70-54 · Report this question

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    Answer: C. Financial inclusion

    The scheme, launched in 2014, aims to give every household access to a bank account.
  9. 9. A cheque with two parallel lines drawn across its top left corner
    1. Can be paid in cash at the counter
    2. Is invalid
    3. Can only be credited to a bank account
    4. Can be paid only after six months

    Reference: q-d22fece7-66 · Report this question

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    Answer: C. Can only be credited to a bank account

    A crossed cheque cannot be paid in cash; the amount goes into a bank account.
  10. 10. A demat account is used for
    1. Depositing cash
    2. Holding shares and securities in electronic form
    3. Paying utility bills
    4. Keeping gold in lockers

    Reference: q-fedef948-28 · Report this question

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    Answer: B. Holding shares and securities in electronic form

    A demat (dematerialised) account holds securities electronically.

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