IBPS PO Clerk Banking Awareness Practice Test 1

1. Which bank is appointed to take care of refunding excess income tax paid to tax payers?
a) AXIS Bank
b) Punjab National Bank
c) ICICI Bank
d) SBI
e) None of These

2. What is nomination?
a) A facility given to depositors by the Government
b) It confers a right to the nominee to receive payment of a deposit after death of depositor
c) It is a process of appointing legal heir by the depositors
d) It is a part of will on behalf of a depositor
e) It is a direction to the bank to pay to nominee only if legal heirs do not claim the balance deposit amount

3. The charge created by a bank to sanction a loan against Insurance policy is:
a) Assignment
b) Arbitrage
c) Amortization
d) Acquisition
e) None of these

4. The Reserve bank of India (RBI) has decided to withdraw its nominee directors from the boards of which of the following types of banks?
a) Co- operative banks
b) Nationalized banks
c) Foreign Banks
d) Private sector banks
e) None of these

5. Which of the following term is NOT related with Banking /Finance?
a) Annuity
b) Line of Credit
c) Legal heir
d) Fore closure
e) None of these

6. Banks in India are permitted to have fixed deposit for a period of maximum ______
a) 60 months
b) 72 months
c) 84 months
d) 96 months
e) 120 months

7. Which is the first bank in India that got ISO certification?
a) Canara bank
b) Punjab National bank
c) South Indian Banks
d) SBI
e) SBH

8. Which bank has first time lunched the withdrawn money from ATMs without ATM card?
a) ICICI
b) SBI
c) UBI
d) AXIS
e) HDFC

9. “Deepika Padukone” is the brand ambassador of which bank?
a) ICICI
b) SBI
c) UBI d) AXIS
e) HDFC

10. What is the slogan (punch line) of Pradhan Mantri Jan Dhan Yojana (PMJDY) which was launched on 28th August 2014?
a) Mera Account Bhagya Vidhataa
b) Mera khataa bhagya vidhataa
c) My bank my country
d) Mera account mera Bharat
e) None of these

11. Which of the following Acts is specially launched to facilitate banks in recovery of bad loans?
a) RBI Act
b) Banking Regulation Act
c) SARFAESI Act
d) Companies Act
e) Income Tax Act

12. What is the maximum amount that can be remitted by any person to Nepal through NEFT under Indo- Nepal Remittance Facility Scheme?

a) Rs.25,000/-
b) Rs.30,000/-
c) Rs.35,000/-
d) Rs.40,000/-
e) Rs.50,000/-

13. Which of the following cannot be called as a Dedt Instrument as referred in financial transactions?
a) Certificate of Deposits
b) Bonds
c) Stocks
d) Commercial papers
e) All the above

14. Which of the following is a short terms government security?
a) Debenture
b) Mutual funds
c) Treasury bill
d) Share
e) None of these

15. What is Call money?
a) Money borrowed or lent for a day or overnight
b) Money borrowed for more than one day but up to 3 days
c) Money borrowed for more than one day but up to 7 days
d) Money borrowed for more than one day but up to 14 days
e) None of these


Key:
1. D
2. B
3. A
4. D
5. E
6. E
7. A
8. A
9. D
10. B
11. C
12. E
13. C
14. C
15. A

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