#Banking Meaning & Concepts Magme 023

#Banking Meaning & Concepts  Magme 023

1.      Which of the following is TRUE about the meaning of a bank?

1.      It is a financial establishment

2.      It acts like a financial intermediary

3.      It accepts deposits from the public

4.      It provides safe locker facility

5.      All the above

2.      Which of the following is NOT true about the functioning of a bank?

1.      A bank should always add the word “bank” to its name

2.      They include general utility services and agency services

3.      A bank is a non- profit organization having service oriented approach

4.      A bank lends acts as a connecting link between  borrowers and lenders of money

5.      A bank lends out money in the form of loans to those who require it for different purpose.

3.      Which of the following is NOT a banking services ?

1.      Issuance of debit and credit cards

2.      Providing safe custody of valuable items

3.      ATM services

4.      Provision for higher interest rates to the accounts held by women.

5.      Online transfer of funds across the globe.

4.      The definition of banking is given in which of the following ACTs?

1.      Negotiable instruments act 1881

2.      Reserve bank of India ( RBI) act 1934

3.      Banking regulation act 1949

4.      Company act 1956

5.      None of the above

            5.   Banks in India are regulated by:

                           1.  The reserve bank of India act, 1934

                           2.  The banking regulation act, 1949

                           3. The reserve bank of India (amendment and misc. provision) act, 1953

                            4. The banking companies (acquisition and transfer of undertaking) act, 1980

                        5. None of the above

6. which of the following terms is used in banking field ?

            1. Zero hour                2. Input devices           3.privilege motion                  4.sedimentary

            5. Invest rate swap

7. A centralized database with online connectivity to branches , internet as well as ATM- net work which has been adopted by almost all major banks of our country is known as?

            1. Investment banking

            2. Core banking

            3. Mobile banking

            4. National banking

            5. Specialized banking

8. Which of the following is necessary while opening deposits accounts in banks?

            1. Will              2.registration              3.nomination               4.indemnity    

5. Guarantee

9. Which of the following is not a banking term?

            1. Letter of credit

            2. MIBOR

            3. Factoring services

            4. Post office savings schemes

            5. None of the above

10. systematic investment plans relates to:

  1. Mutual funds                                 2.life insurance companies                 3. Commercial banks

4. Post office savings schemes           5. none of the above.

ANSWER KEYS

1.(5)	2.(3)	3(4)	4.(3)	5(2)
6(5)	7(2)	8(3)	9(4)	10(1)